Last update on Feb 8, 2019
Next update planned on Feb 22, 2019
Reference date
Miner performance calculated is relative to the start of the calculation of the GMP based gold miners and silver miners index on Nov 19, 2010. For your information: gold closed at US$1342/oz and silver at US$27.07/oz on that day.
Bear market damage
With hindsight: from early 2011 onward miners started lagging precious metals in their ascent to all time highs. The harsh miner bear market decimated the majority of explorers. Acquisitions continued, but hefty premiums no longer were paid. There have been some bankruptcies among miners and some more delisting of explorers running low on cash and assets. You find an overview of list compositions changes at the end.
Today's statistics
Today the median loss for the miners in the database stands at 68.0%, while the average loss is 45.35%. The median is the value observed in the middle of the distribution.
Since previous evaluation on Jan 25, 2019 the average added 2.67% while the median loss recovered by 1.36%.
Over the long haul, 19 miners are down 90% or more with 9 thereof down over 95%.
Only 14 miners are up since Nov 2010 led by Kirkland Lake Gold. The top 5 have doubled.
Advances (62 miners) outnumber declines (19) on consecutive evaluations. The remainder of the set of miners (13) quotes almost flat: within a narrow +1% range.
Exchange rate
Most quotes are in CAD and likewise all performance graphs illustrate the return in CAD.
B2 Gold (BTG), Barrick (GOLD), Hecla Silver (HL), Coeur d'Alène (CDE) and Wheaton Precious Metals (WPM) quote in USD. Their performance has been compensated for the long term depreciation of the loonie.
Redesign
A few list components do not quote daily any longer. Without any exception these are penny stocks, valued below CAD 0.10. Their market capitalization does not exceed 10 M CAD. Not surprisingly, these stocks are down over 90% since inclusion. From next update onward, they will be excluded. So this is the end of the line for Atlanta Gold (ATG), TVI Pacific (TVI) and CMC metals (CMB). A few more list components are being monitored since they fulfill the above criteria, but still quote regularly. As for now, three replacements will also be added: those are Golden Arrow Gold (GRG) on the Toronto venture exchange, Marathon Gold (MOZ) and Roxgold (ROXG) on TSX. Roxgold has a pretty decent track record.
Latest / Expected list changes
After the merger between Barrick and Randgold, the ABX quote leaves the selection. The combined business 'inherits' the position of the better performing Randgold. The new Barrick adopts the more appealing quote GOLD.
Tahoe Resources will be acquired by Pan American Silver (PAAS). We will keep the quote of PAAS.
Eldorado Gold has completed its reverse split next Monday Dec 31, 2018.
Newmont and Goldcorp are to merge, with Goldcorp shareholders obtaining 0.328 Newmont shares for each Goldcorp share + $0.02.
Graphs section
Individual miner performance since Nov 19, 2010. Miners are identified by their TSX trading symbols.
Click any of the graphs to view them at true size
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| op quintile: the best 20% of miners |
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| Subtop quintile |
 | |
|
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| Laggards quintile |
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Bottom quintile, the mining investors' nightmare.
With losses in excess of 95% for 12 miners, those really are the basket cases.
|
Comments and composition changes since 2018:
- Alio Gold (ALO) replaces Rye Patch Gold (RPM) upon a business combination of both. ALO 'inherits' the track record of RPM.
- Primero has been delisted after its acquisition by First Majestic.
- Klondex was acquired by Hecla Mining. Coverage is discontinued and Klondex has been delisted.
- After a friendly take-over bid of the Australian South32 miner on Arizona Mining (AZ), this top performer eventually left the selection.
- We introduced Gold Standard Ventures (GSV) to our list in replacement of AZ mining.
- After the bankruptcy of Red Eagle Mining (R), Teranga Gold Corporation (TGZ) was added in replacement.
- Upon the merger of Barrick and Randgold, the more appealing Randgold ticker GOLD was maintained, whereas the merged mining company is called Barrick. The ticker ABX is removed and the reference share price is divided by the 6.128 Randgold share exchange value. Randgold shareholders thereby obtain 33% of the new Barrick.
- Nighthawk (NH.TO) has been added to the list.
- A few name changes:
- Novacopper (NCQ) now is called Trilogy metals (TMQ)
- Astur Gold (AST) changed to Black Dragon Gold (BDG)
- Pilot Gold (PLG) changed to Liberty Gold (LGD)
- Silver Wheaton (SLW) changed its name to Wheaton Precious Metals (WPM)
- Silver Standard Resources changed to SSR Mining with ticker SSRM
- And ticker changes:
- Kirkland Lake Gold (KGI) changed its TSX ticker to KL
- Red Eagle Gold changed over to the main market. Its TSX ticker now is R.
- Pan American Silver changed its TSX ticker to PAAS (in line with that on US markets)
- Golden Minerals changed its TSX ticker to AUMN (also in line with that on US markets)
Former mining or exploration
company
|
TSX ticker
|
Date
|
Merging or acquiring miner
or explorer / Delisted(red)
or follow up suspended (dark red) |
Capital Gold Corp.
|
CGC
|
8/04/2011
|
Acquired by Gammon
|
Fronteer Gold Inc.
|
FRG
|
8/04/2011
|
Acquired by Newmont
|
Richfield Ventures
|
RVC
|
1/06/2011
|
Acquired by NewGold
|
ECU Silver Mining Inc.
|
ECU
|
8/10/2011
|
Acquired by Golden
Minerals Cy.
|
Century Mining
Corporation
|
CMM
|
14/10/2011
|
Merged with White Tiger
Res.
|
Trade Winds Ventures Inc.
|
TWD
|
30/11/2011
|
Acquired by Detour Gold
|
Silvermex Resources Inc.
|
SLX
|
29/06/2012
|
Acquired by First
Majestic
|
Trelawney Mining and
Exploration
|
TRR
|
22/06/2012
|
Acquired by Iamgold
|
Extorre Gold Mines
Limited
|
XG
|
24/08/2012
|
Acquired by Yamana
|
Great Basin Gold
|
GBG
|
19/09/2012
|
Delisted upon bankruptcy
|
Queenston Mining Inc
|
QMI
|
29/11/2012
|
Acquired by Osisko
|
High River Gold Mines
Ltd.
|
HRG
|
14/03/2013
|
Merger with Nord Gold
|
Orko Silver Corp.
|
OK
|
15/04/2013
|
Acquired by Coeur d'Alène
|
Esperanza Silver
Corporation
|
EPZ
|
30/08/2013
|
Acquired by Alamos Gold
|
Plato Gold Corp.
|
PGC
|
31/07/2013
|
Sold its Quebec gold
resource to Monarques
|
Pacific Rim Mining Corp.
|
PMU
|
29/11/2013
|
Acquired by OceanaGold
|
American Bonanza Gold
Corp.
|
BZA
|
7/07/2014
|
Acquired by Kerr
Minerals, which will been absorbed by San Gold
|
Osisko Mining Corporation
|
OSK
|
16/06/2014
|
Acquired by Agnico Eagle
and Yamana
|
San Gold Corporation
|
SGR
|
22/12/2014
|
Delisted after not meeting
TSX requirements
|
U.S. Silver Corporation
|
USA
|
31/12/2014
|
Taken over by Scorpio
Mining (SPM.TO)
|
Rio Alto Mining Limited
|
RIO
|
7/04/2015
|
Taken over by Tahoe Res.
|
Paramount Gold and Silver
Corp.
|
PZG
|
17/04/2015
|
Taken over by Coeur
d'Alène
|
AuRico Gold Inc.
(Formerly Gammon)
|
AUQ
|
3/07/2015
|
Merger with Alamos Gold
|
Revett Minerals Inc.
|
RVM
|
17/06/2015
|
Taken over by Hecla Silver
|
Tyhee Development Corp.
|
TDC
|
3/06/2015
|
Delisted after not meeting
TSX requirements
|
Sunward Resources
|
SWD
|
19/06/2015
|
Acquired by NovaCopper
|
Crocodile Gold Corp.
|
CRK
|
13/07/2015
|
Merged with Newmarket
Gold (new ticker: NGI)
|
SilverCrest Mines Inc.
|
SVL
|
7/10/2015
|
Acquired by First
Majestic Silver
|
Temex Resources Corp.
|
TME
|
21/09/2015
|
Acquired by Lake Shore
Gold
|
Arian Silver Corporation
|
AGQ
|
1/12/2015
|
Delisted (only London and
pink sheets)
|
Niogold Mining Corp.
|
NOX
|
10/03/2016
|
Acquired by OBAN Mining
Corp / Osisko 2.0
|
Lake Shore Gold
|
LSG
|
7/04/2016
|
Acquired by Tahoe
Resources
|
Claude Resources Inc.
|
CRJ
|
26/05/2016
|
Acquired by Silver
Standard
|
AM Gold Inc.
|
AMG
|
26/08/2016
|
Sold its
exploration/development target
|
Mines Management Inc.
|
MGT
|
13/09/2016
|
Acquired by Hecla mines
|
Rubicon Minerals
Corporation
|
RMX
|
19/10/2016
|
Delisted after reducing
gold reserves
|
Agave Silver Ltd (Cream
Minerals)
|
AGV
|
19/12/2016
|
Sold its mineral rights
in Mexico
|
Kiska Metals Corporation
|
KSK
|
7/03/2017
|
Acquired by Aurico Metals
|
Mariana Resources
|
MARL
|
23/06/2017
|
Acquired by Sandstorm
|
Crazy Horse Resources
Inc.
|
CZH
|
6/06/2017
|
Renamed to Rockwealth
Resources and 10:1 consolidation
|
Integra Gold
|
ICG
|
17/07/2017
|
Acquired by Eldorado Gold
|
Exeter Resource Corp.
|
XRC
|
8/08/2017
|
Acquired by Goldcorp
|
Primero Mining Corp.
|
P
|
11/05/2018
|
Acquired by by First Majestic Mining, sold its Canadian
mine to McEwen Mining
|
Klondex Mines Ltd.
|
KDX
|
19/06/2018
|
Acquired by Hecla Mining
|
Rye Patch Gold Corp.
|
RPM
|
30/05/2018
|
Business combination with
Alio Gold
|
Arizona Mining
|
AZ
|
10/08/2018
|
Friendly Acquired by
South32
|
Red Eagle Mining Corp.
|
R
|
9/11/2018
|
Defaulted after guarantee
for restructuring financing failed
|
Barrick Gold
|
ABX
|
2/01/2019
|
Merger with Randgold to
form new Barrick; ticker GOLD
|
Randgold
|
GOLD
|
2/01/2019
|
Merger with Barrick;
ticker maintained
|
The majority of the Canadian ticker symbols quote at the TSX. A few quote at the TSXV (the less regulated Venture exchange). These companies are intrinsically more risky, especially if a miner or explorer gets demoted from TSX to TSXV. One such example is TVI Pacific.
The quote list: If the Toronto Stock Exchange (TSX) symbols are less familiar, you find the mining or exploration company name next to the TSX symbol in the below list, former names are indicated between brackets:
Quote
|
Name
|
Quote
|
Name
|
AEM
|
Agnico-Eagle Mines Limited
|
ITH
|
International Tower Hill Mines
Ltd.
|
AGI
|
Alamos Gold Inc
|
K
|
Kinross Gold Corporation
|
AKG
|
Asanko Gold
|
KL
|
Kirkland Lake Gold
|
ALO
|
Alio Gold
|
LGD
|
Liberty Gold Inc (Pilot Gold)
|
AMM
|
Almaden Minerals Ltd.
|
LME
|
Laurion Mineral Exploration
|
AR
|
Argonaut Gold
|
LMG
|
Lincoln Mining Corporation
|
ASM
|
Avino Silver & Gold Mines Ltd.
|
LYD
|
Lydian International Limited
|
ATG
|
Atlanta Gold Inc.
|
MAD
|
Miranda Gold
|
AUG
|
Auryn Resources
|
MAG
|
MAG Silver Corp.
|
AUMN
|
Golden Minerals Company
|
MQR
|
Monarques Resources
|
AXR
|
Alexco Resource Corp.
|
MRZ
|
Mirasol Resources
|
AZX
|
Alexandria Minerals Corporation
|
MSV
|
Minco Silver Corporation
|
BCM
|
Bear Creek Mining Corporation
|
MTB
|
Mountain Boy Minerals Ltd.
|
BDG
|
Black Dragon Gold Corp
|
MUX
|
McEwen Mining Inc.
|
BTG
|
B2 Gold
|
NDM
|
Northern Dynasty Minerals Ltd.
|
CDB
|
Cordoba Minerals
|
NG
|
NovaGold Resources Inc.
|
CDE
|
Coeur d'Alene Mines Corporation
|
NGD
|
New Gold Inc.
|
CG
|
Centerra gold
|
NGQ
|
NGEx Resources Inc.
|
CKG
|
Chesapeake Gold Corp.
|
NHK
|
Nighthawk Gold Corp.
|
CMB
|
CMC Metals Ltd
|
OSK
|
Osisko Mining Inc.
|
CUU
|
Copper Fox Metals Inc
|
OGC
|
Oceana Gold
|
DGC
|
Detour Gold Corporation
|
OR
|
Osisko Gold Royalties
|
DPM
|
Dundee Precious Metals Inc.
|
ORA
|
Aura Minerals Inc.
|
EDR
|
Endeavour Silver Corp.
|
PAAS
|
Pan American Silver Corp.
|
EDV
|
Endeavour Mining Corp.
|
PG
|
Premier Gold Mines Ltd.
|
ELD
|
Eldorado Gold Corporation
|
PVG
|
Pretium Resources Inc.
|
EMX
|
Eurasian Minerals Inc.
|
RRI
|
Riverside Resources
|
EOM
|
Eco Oro Minerals Ltd.
|
SBB
|
Sabina Gold & Silver
Corporation
|
ER
|
Eastmain Resources Inc.
|
SEA
|
Seabridge Gold Inc.
|
EXN
|
Excellon Resources
|
SGN
|
Scorpio Gold Corporation
|
FR
|
First Majestic Silver Corp.
|
SMF
|
Semafo Inc.
|
FVI
|
Fortuna Silver Mines Inc.
|
SPA
|
Spanish Mountain Gold Ltd.
|
G
|
Goldcorp Inc.
|
SSL
|
Sandstorm Gold
|
GAL
|
Galantas Gold Corporation
|
SSRM
|
Silver Standard Resources Inc.
|
GBU
|
Gabriel Resources Ltd.
|
SVM
|
Silvercorp Metals Inc.
|
GCM
|
Gran Colombia Gold Corp
|
TGZ
|
Teranga Gold Corporation
|
GOLD
|
Barrick (merger Randgold)
|
THO
|
Tahoe Resources Inc.
|
GPG
|
Grande Portage Res.
|
TMI
|
Tri Metals Mining Corp.
|
GPR
|
Great Panther Silver Ltd
|
TML
|
Treasury Metals Inc.
|
GSV
|
Gold Standard Ventures
|
TMQ
|
Trilogy Metals Inc.
|
GQM
|
Golden Queen Mining Co.
|
TSN
|
Telson Resources
|
GUY
|
Guyana Goldfields Inc.
|
TVI
|
TVI Pacific Inc.
|
GWA
|
Gowest Amalgamated Res.
|
TXG
|
Torex Gold
|
HL
|
Hecla Silver
|
TYP
|
Typhoon Exploration Inc.
|
HRT
|
Harte Gold Corp.
|
USA
|
Americas Silver
|
IMG
|
Iamgold
|
WPM
|
Wheaton Precious Metals
|
IPT
|
Impact Silver Corp.
|
YRI
|
Yamana Gold Inc.
|
