BTG: A Mid-cap Miner with Value and Improving Sentiment
B2Gold Corp has a P/E of 8, and P/FCF of 8.5, and a dividend yield of 3.34%. That's solid value for money. S&P Global gives it about 70/100 for fundamentals, and analyst ratings on the stock have recently grown more bullish after it made a bullish move across a downward-sloping resistance line. It's frankly worth a buy on its own merits, but it could also benefit from favorable conditions for both gold and small/mid-cap stocks.
Time for a Gold Rally?
Gold sentiment has been improving sharply ever since gold made a bullish trend line break. Inflation beat expectations yesterday, and the big Biden infrastructure spending plan potentially forbodes more inflation down the road. Gold should rally accordingly, unless bond yields play spoiler again. GLD looks poised to bounce from the 20-day EMA. It has a bullish put-call ratio just over 0.5.
Time for a Small/Mid-Cap Rally?
Small caps have been pulling back in relation to large caps since about March 8, but they're showing some life today, with Nasdaq down and the Russell 2000 up sharply. Here's the equal weight to market weight ratio, which I suspect will bounce from the 50-day EMA:
Buying the Dip
I bought the pullback to the 50 EMA and will add shares on any pullback to the 20-day.
B2Gold Corp has a P/E of 8, and P/FCF of 8.5, and a dividend yield of 3.34%. That's solid value for money. S&P Global gives it about 70/100 for fundamentals, and analyst ratings on the stock have recently grown more bullish after it made a bullish move across a downward-sloping resistance line. It's frankly worth a buy on its own merits, but it could also benefit from favorable conditions for both gold and small/mid-cap stocks.
Time for a Gold Rally?
Gold sentiment has been improving sharply ever since gold made a bullish trend line break. Inflation beat expectations yesterday, and the big Biden infrastructure spending plan potentially forbodes more inflation down the road. Gold should rally accordingly, unless bond yields play spoiler again. GLD looks poised to bounce from the 20-day EMA. It has a bullish put-call ratio just over 0.5.
Time for a Small/Mid-Cap Rally?
Small caps have been pulling back in relation to large caps since about March 8, but they're showing some life today, with Nasdaq down and the Russell 2000 up sharply. Here's the equal weight to market weight ratio, which I suspect will bounce from the 50-day EMA:
Buying the Dip
I bought the pullback to the 50 EMA and will add shares on any pullback to the 20-day.
Comment:
Up over 5% on this bad boy already!
Trade closed manually:
I decided to take profit here, because I think gold breaks down if bonds begin to rise again, which they may.
Trade active:
Am back in after a big breakout in GLD.
BTG is above resistances with clearance up to the trend line:
BTG is above resistances with clearance up to the trend line:
