Valuation data for a representative list of Canadian gold and silver miners and explorers are maintained on the Gold Miner Pulse site (GMP). On the dedicated ‘Gold Miner Pulse’ page of this blog the performance of the HUI unhedged gold miners index is shown relative to gold bullion. It doesn't look nice: nor over the short term nor over two years, even since the aftermath of the secular financial crisis. In another graph the performance disparity is illustrated among the gold and silver miners of the GMP database. Some lucky picks have been outperforming silver or gold by an impressive margin. Few laggards have lost tremendously despite gold and silver up considerably over the year. A disappointing majority of 61 precious metal miners are in the red since Nov 19 last year. Little individual miner information can be conveyed in one such graph. Therefore, I 'm going into detail to give an idea which miners were good picks and what are the investor's nightmares.
A first analysis in this sense was made in August (See: Stock picking matters).
Over three months later, the performance disparity has only grown, especially near the bottom of the list, though there have been few shifts among miners and explorers in the bottom quintile.