The mid-tier gold miners just reported their results for a phenomenal gold quarter. In Q3’19 this metal surged after its first bull-market breakout in years, driving much-higher prevailing prices. That should’ve led to soaring profits for these mid-tiers in the sweet spot for stock-price upside potential. Last quarter’s results are the most important this sector has seen in a long time, a key fundamental test for gold miners.
Four times a year publicly-traded companies release treasure troves of valuable information in the form of quarterly reports. Required by the US Securities and Exchange Commission, these 10-Qs and 10-Ks contain the best fundamental data available to traders. They dispel all the sentiment distortions inevitably surrounding prevailing stock-price levels, revealing corporations’ underlying hard fundamental realities.
The global nature of the gold-mining industry complicates efforts to gather this important data. Many mid-tier gold miners trade in Australia, Canada, Mexico, the United Kingdom, and other countries with quite-different reporting requirements. These include half-year reporting rather than quarterly, long 90-day filing deadlines after fiscal year-ends, and very-dissimilar presentations of operating and financial results.