Gold miners: Barrick Gold Corporation, (NYSE:ABX), Newmont Mining Corp (NYSE:NEM), Goldcorp, (NYSE:GG), Kinross Gold Corporation (NYSE:KGC)

Gold giant, Barrick Gold Corporation (USA) (NYSE:ABX), has unveiled a new executive compensation plan for its lead directors and also announced that the company is open to the idea of appointing two new board members after its annual meeting, set to take place on April 30. Barrick Gold Corporation. (USA), (NYSE:ABX) shares after opening at $17.93 moved to $18.09 on last trade day and at the end of the day closed at $17.89. Company price to sales ratio in past twelve months was calculated as 1.67 and price to cash ratio as 8.69. Barrick Gold Corporation. (USA), (NYSE:ABX), showed a negative weekly performance of 3.40%.

Most of the stocks were trading on an upbeat post the comments from the Federal Reserve chairwoman, Janet Yellen, that the interest rates will continue to remain low for the time being in order to support the economic growth. And, when most of the sectors performed well and even the S&P 500 Index gained on the day, Newmont Mining Corp (NYSE:NEM) remained among one to report a declining trend. Newmont Mining Corp. (NYSE:NEM) shares advanced 0.04% in last trading session and ended the day on $23.45. Newmont Mining Corp. (NYSE:NEM) return on equity ratio is recorded as -21.00% and its return on assets is -9.20%. Newmont Mining Corp. (NYSE:NEM) yearly performance is -39.15%.

After almost a decade of price rise, 2013 saw a significant drop in gold price compared to other hard assets. If Robert Cohen, GCIC is to believed gold prices typically depend on three things; Primary driver being global liquidity, other being interest rates and effective inflation and the third being geo-political scenario in the world. These factors impact global gold prices but most of the price drop in gold prices in year 2013 can be attributed to 900 tonnes of liquidation of gold by Exchange Traded Funds, ETFs worldwide. According to various reports gold ETFs worldwide accumulated around 2600 tonnes of gold from 2004-2013, but in 2013 itself ETFs liquidated 900 tonnes of gold which resulted in significant price drop in gold and subsequently in stock prices of various gold producers globally. Goldcorp Inc. (USA) (NYSE:GG) also has seen a significant drop in stock price in past one year but the fundamentals of the company still stand better compared to other global rivals. Goldcorp Inc. (USA), (NYSE:GG) shares moved up 0.20% in last trading session and was closed at $24.53, while trading in range of $ 24.32 – 24.73. Goldcorp Inc. (USA), (NYSE:GG) year to date (YTD) performance is 13.88%.

Kinross Gold Corporation. (USA), (NYSE:KGC) the biggest foreign gold-miner who operates in Russia, has told Canada that it now wants a “balanced approach” for resolving the standoff with Russia after annexation of Crimea that took place at the start of the month. A spokesperson for Kinross Gold Corporation (USA) (NYSE:KGC), Andrea Mandel-Campbell, said in an email that they have communicated to the Canadian government their desire to see the balanced approach towards resolving the situation in the manner that considers the Canadian interests in Russia. Kinross Gold Corporation (USA) (NYSE:KGC) operates its Kupol & the Dvoinoye mines in the far-est of Russia, that Mandel-Campbell said have not been affected by the political-situation. Kinross Gold Corporation. (USA), (NYSE:KGC) weekly performance is -7.35%. On last trading day company shares ended up $4.16. Kinross Gold Corporation. (USA), (NYSE:KGC) distance from 50-day simple moving average (SMA50) is -14.30%. Analysts mean target Price for the company is $5.77.