Opinion on gold miners

Does anyone have any opinions on why they are under such pressure?
It is not only RRL all gold miners are under pressure, hitting double and triple bottoms and multi year lows. This is very strange as at the current gold price these companies are highly profitable. Gold Miners typically led the market and there is a broad consensus that the US in particular is overdue for a correction and Sept-Nov are the softest months. However the price of gold has held up pretty well over the last 6 months and the gold price would have to fall 20-40% from here for the current valuations to make sense which doesn't seem feasible. I do not believe gold is the best hedge against inflation in the current environment. I think the megacap Fang+ stocks are better for that. However companies like RRL are solid, make 200 mil profit after tax and has previously paid a good dividend. Makes no sense it has declined like it has, others have pointed out some negatives. However it has declined like A2M which entire business model is broken. RRL will continue to make approx 200 mil in profit for the foreseeable future. The big Mac project is important however being knocked back has to have already been factored in and If knocked back I can see RRL going back to a 16c dividend, which would be about 8% at current share price. If big Mac is approved costs blowouts could cost profitability and therefore the dividend however the company would have another valuable asset that would eventually pay off long term. The hedge book and cost of Tropicana will be paid off over the next 2-3 years. I can see no downside from here.
Gold mining stocks are clearly crazily undervalued and out of equilibrium. I think the quickest solution would be a US correction of about 10-20% to the downside, causing some selling and a flight to safer assets. Like most corrections gold and gold miners would get hit as well initially but are already so low cant see more than another 10-20% downside, particularly in stocks like RRl. However after such a correction gold will be the first to rally. If the S&P keeps grinding higher could take a while for gold miners to bounce back. However when they do it will be like uranium, 10% a day 200% in a month and will be hard to find an entry point if not already in. There is no rush like a gold rush. Still I will not be buying any more gold till I see a sign of life, which for RRL would be a solid close above 2.40.