Gold stocks have got a lot of catching up to the 20% increase in POG in last 6 months - SP’s should have gone up circa 50% based on their leverage to the POG but have barely managed a 20% increase - GDX is only up 17.5%. Gold stocks are really still in a bear market despite a record POG - if gold stocks move into a bull market we will see many gold stocks move up 50% to 100% even if POG does not go any higher.
Some experts say that gold stocks are the most under valued in 50 years and if they are right then the upside in gold stocks is huge if stocks enter are bull market. For example in a bear market if stocks are under valued by 50% and then become 50% over valued in the later stages of a bull market which is a tripling of a SP without a further increase in the price they achieve for their product.
In conclusion, a $3 target will be easy to achieve for WGX if gold stocks enter a bull market - try $4, $5 or higher if they enter a significant bull market and POG continues to rise.
Gold stocks have got a lot of catching up to the 20% increase in...
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Last
$2.27 |
Change
0.120(5.58%) |
Mkt cap ! $1.075B | |||
| Open | High | Low | Value | Volume |
| $2.19 | $2.31 | $2.18 | $12.69M | 5.581M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 289409 | $2.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.29 | 230359 | 3 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
$2.28 |
Change
0.120 ( 5.09 %) |
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| Open | High | Low | Volume | ||
| $2.18 | $2.31 | $2.18 | 2090990 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| WGX (ASX) Chart |