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Gold miners' profit momentum glitters

Flight for safety drives booming demand for gold.
Gold miners' profit momentum glitters

Rising numbers of coronavirus cases in America’s sunbelt and heightened tension between the West and China has seen the price of gold leap to $1,944 per Troy oz and investor appetite for haven assets has seen gold mining shares star on our share price and earnings momentum screen

  • Petropavlovsk (POG) tops the FTSE All Share screen passing 8/8 tests and Polymetal International (POLY) also scores well, passing 6/8. On Aim, Trans-Siberian Gold (TSG) is the highest ranking of several precious metal miners that do well on our tests designed for smaller companies.
  • Last month’s momentum screen topper Boohoo (BOO) does offer investors a cautionary tale when just looking at financial numbers and estimates. Severe criticism of its supply chain management cost Boohoo and its shareholders. Mining is an industry that can be hurt by environmental and social concerns, but the reason Investors Chronicle started questioning Petropavlovsk, is because of its boardroom shenanigans.
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