Intrinsic value of First Majestic Silver - AG

Previous Close

$5.33

  Intrinsic Value

$0.75

stock screener

  Rating & Target

str. sell

-86%

Previous close

$5.33

 
Intrinsic value

$0.75

 
Up/down potential

-86%

 
Rating

str. sell

We calculate the intrinsic value of AG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  257
  263
  270
  278
  286
  295
  305
  316
  328
  341
  354
  368
  384
  400
  417
  435
  455
  475
  497
  520
  544
  569
  596
  624
  654
  685
  718
  753
  789
  828
Variable operating expenses, $m
  232
  237
  243
  250
  258
  266
  275
  285
  295
  307
  319
  332
  346
  360
  376
  392
  410
  428
  448
  468
  490
  513
  537
  562
  589
  617
  647
  678
  711
  746
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  232
  237
  243
  250
  258
  266
  275
  285
  295
  307
  319
  332
  346
  360
  376
  392
  410
  428
  448
  468
  490
  513
  537
  562
  589
  617
  647
  678
  711
  746
Operating income, $m
  25
  26
  27
  27
  28
  29
  30
  31
  32
  34
  35
  36
  38
  40
  41
  43
  45
  47
  49
  51
  54
  56
  59
  62
  65
  68
  71
  75
  78
  82
EBITDA, $m
  106
  108
  111
  114
  118
  121
  125
  130
  135
  140
  145
  151
  158
  164
  171
  179
  187
  195
  204
  214
  223
  234
  245
  256
  269
  282
  295
  309
  324
  340
Interest expense (income), $m
  0
  4
  4
  5
  5
  5
  6
  7
  7
  8
  9
  10
  11
  12
  13
  14
  15
  16
  17
  19
  20
  22
  23
  25
  27
  29
  31
  33
  35
  37
  40
Earnings before tax, $m
  22
  22
  22
  23
  23
  23
  24
  24
  24
  25
  25
  26
  26
  27
  28
  28
  29
  30
  31
  31
  32
  33
  34
  35
  36
  37
  38
  40
  41
  42
Tax expense, $m
  6
  6
  6
  6
  6
  6
  6
  6
  7
  7
  7
  7
  7
  7
  7
  8
  8
  8
  8
  8
  9
  9
  9
  9
  10
  10
  10
  11
  11
  11
Net income, $m
  16
  16
  16
  16
  17
  17
  17
  18
  18
  18
  19
  19
  19
  20
  20
  21
  21
  22
  22
  23
  24
  24
  25
  26
  26
  27
  28
  29
  30
  31

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  705
  721
  740
  761
  784
  809
  836
  866
  898
  933
  970
  1,009
  1,051
  1,096
  1,143
  1,193
  1,246
  1,302
  1,361
  1,424
  1,490
  1,559
  1,633
  1,710
  1,792
  1,877
  1,967
  2,062
  2,162
  2,267
Adjusted assets (=assets-cash), $m
  705
  721
  740
  761
  784
  809
  836
  866
  898
  933
  970
  1,009
  1,051
  1,096
  1,143
  1,193
  1,246
  1,302
  1,361
  1,424
  1,490
  1,559
  1,633
  1,710
  1,792
  1,877
  1,967
  2,062
  2,162
  2,267
Revenue / Adjusted assets
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
  0.365
Average production assets, $m
  610
  624
  640
  658
  678
  700
  724
  749
  777
  807
  839
  873
  909
  948
  989
  1,032
  1,078
  1,126
  1,178
  1,232
  1,289
  1,349
  1,412
  1,479
  1,550
  1,624
  1,702
  1,784
  1,870
  1,961
Working capital, $m
  4
  4
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
  11
  12
Total debt, $m
  45
  49
  54
  60
  66
  72
  80
  87
  96
  105
  115
  125
  136
  148
  160
  174
  188
  202
  218
  235
  252
  270
  290
  310
  332
  354
  378
  403
  430
  457
Total liabilities, $m
  186
  190
  195
  201
  207
  214
  221
  229
  237
  246
  256
  266
  277
  289
  302
  315
  329
  344
  359
  376
  393
  412
  431
  451
  473
  496
  519
  544
  571
  599
Total equity, $m
  519
  531
  544
  560
  577
  595
  616
  638
  661
  687
  714
  743
  774
  806
  841
  878
  917
  958
  1,002
  1,048
  1,097
  1,148
  1,202
  1,259
  1,319
  1,382
  1,448
  1,518
  1,591
  1,669
Total liabilities and equity, $m
  705
  721
  739
  761
  784
  809
  837
  867
  898
  933
  970
  1,009
  1,051
  1,095
  1,143
  1,193
  1,246
  1,302
  1,361
  1,424
  1,490
  1,560
  1,633
  1,710
  1,792
  1,878
  1,967
  2,062
  2,162
  2,268
Debt-to-equity ratio
  0.090
  0.090
  0.100
  0.110
  0.110
  0.120
  0.130
  0.140
  0.150
  0.150
  0.160
  0.170
  0.180
  0.180
  0.190
  0.200
  0.200
  0.210
  0.220
  0.220
  0.230
  0.240
  0.240
  0.250
  0.250
  0.260
  0.260
  0.270
  0.270
  0.270
Adjusted equity ratio
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736
  0.736

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  16
  16
  16
  16
  17
  17
  17
  18
  18
  18
  19
  19
  19
  20
  20
  21
  21
  22
  22
  23
  24
  24
  25
  26
  26
  27
  28
  29
  30
  31
Depreciation, amort., depletion, $m
  80
  82
  84
  87
  89
  92
  95
  99
  102
  106
  110
  115
  120
  125
  130
  136
  142
  148
  155
  162
  170
  177
  186
  195
  204
  214
  224
  235
  246
  258
Funds from operations, $m
  96
  98
  100
  103
  106
  109
  112
  116
  120
  124
  129
  134
  139
  144
  150
  156
  163
  170
  177
  185
  193
  202
  211
  220
  230
  241
  252
  264
  276
  289
Change in working capital, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  1
  1
Cash from operations, $m
  96
  98
  100
  103
  106
  109
  112
  116
  120
  124
  129
  134
  139
  144
  150
  156
  163
  170
  177
  185
  193
  201
  210
  220
  230
  240
  252
  263
  276
  288
Maintenance CAPEX, $m
  -79
  -80
  -82
  -84
  -87
  -89
  -92
  -95
  -99
  -102
  -106
  -110
  -115
  -120
  -125
  -130
  -136
  -142
  -148
  -155
  -162
  -170
  -177
  -186
  -195
  -204
  -214
  -224
  -235
  -246
New CAPEX, $m
  -13
  -14
  -16
  -18
  -20
  -22
  -24
  -26
  -28
  -30
  -32
  -34
  -36
  -39
  -41
  -43
  -46
  -48
  -51
  -54
  -57
  -60
  -63
  -67
  -70
  -74
  -78
  -82
  -86
  -91
Cash from investing activities, $m
  -92
  -94
  -98
  -102
  -107
  -111
  -116
  -121
  -127
  -132
  -138
  -144
  -151
  -159
  -166
  -173
  -182
  -190
  -199
  -209
  -219
  -230
  -240
  -253
  -265
  -278
  -292
  -306
  -321
  -337
Free cash flow, $m
  5
  4
  2
  1
  -1
  -2
  -4
  -5
  -6
  -8
  -9
  -11
  -12
  -14
  -16
  -17
  -19
  -21
  -22
  -24
  -26
  -28
  -31
  -33
  -35
  -38
  -40
  -43
  -46
  -49
Issuance/(repayment) of debt, $m
  4
  4
  5
  5
  6
  7
  7
  8
  8
  9
  10
  10
  11
  12
  12
  13
  14
  15
  16
  17
  17
  18
  19
  20
  21
  23
  24
  25
  26
  28
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  2
  3
  4
  6
  7
  9
  10
  12
  13
  15
  16
  18
  20
  21
  23
  25
  27
  29
  31
  33
  36
  38
  41
  44
  46
Cash from financing (excl. dividends), $m  
  4
  4
  5
  5
  6
  9
  10
  12
  14
  16
  19
  20
  23
  25
  27
  29
  32
  35
  37
  40
  42
  45
  48
  51
  54
  59
  62
  66
  70
  74
Total cash flow (excl. dividends), $m
  9
  8
  7
  6
  6
  6
  7
  7
  8
  8
  9
  10
  10
  11
  12
  12
  13
  14
  14
  15
  16
  17
  18
  19
  20
  21
  22
  23
  24
  26
Retained Cash Flow (-), $m
  -12
  -12
  -14
  -15
  -17
  -19
  -20
  -22
  -24
  -25
  -27
  -29
  -31
  -33
  -35
  -37
  -39
  -41
  -44
  -46
  -49
  -51
  -54
  -57
  -60
  -63
  -66
  -70
  -74
  -77
Prev. year cash balance distribution, $m
  75
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  72
  -4
  -7
  -9
  -11
  -12
  -14
  -15
  -16
  -17
  -18
  -19
  -21
  -22
  -23
  -25
  -26
  -28
  -29
  -31
  -32
  -34
  -36
  -38
  -40
  -42
  -44
  -47
  -49
  -52
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  69
  -4
  -6
  -8
  -9
  -9
  -9
  -9
  -9
  -9
  -9
  -8
  -8
  -7
  -7
  -6
  -6
  -5
  -4
  -4
  -3
  -3
  -2
  -2
  -2
  -1
  -1
  -1
  -1
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  99.8
  99.5
  99.1
  98.6
  98.0
  97.3
  96.5
  95.7
  94.8
  93.8
  92.8
  91.8
  90.7
  89.5
  88.4
  87.2
  86.0
  84.8
  83.6
  82.3
  81.1
  79.8
  78.6
  77.3
  76.1

First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe. Its segments in Mexico are Santa Elena, La Encantada, La Parrilla, Del Toro, San Martin and La Guitarra. Its segment in Canada is Coins and Bullion Sales, and the segment in Europe is Silver Sales. The Company owns and operates approximately six producing silver mines: the La Encantada Silver Mine, La Parrilla Silver Mine, Del Toro Silver Mine, San Martin Silver Mine, La Guitarra Silver Mine and Santa Elena Silver Mine. The Company's subsidiaries include First Majestic Plata, S.A. de C.V., Minera El Pilon, S.A. de C.V., Minera La Encantada, S.A. de C.V., Majestic Services, S.A. de C.V., Santa Elena Oro y Plata, S.A. de C.V. and FMS Trading AG.

FINANCIAL RATIOS  of  First Majestic Silver (AG)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

AG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AG stock intrinsic value calculation we used $252.288 million for the last fiscal year's total revenue generated by First Majestic Silver. The default revenue input number comes from 0001 income statement of First Majestic Silver. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AG stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for AG is calculated based on our internal credit rating of First Majestic Silver, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of First Majestic Silver.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AG stock the variable cost ratio is equal to 90.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for AG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 9.2% for First Majestic Silver.

Corporate tax rate of 27% is the nominal tax rate for First Majestic Silver. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AG stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AG are equal to 237%.

Life of production assets of 7.6 years is the average useful life of capital assets used in First Majestic Silver operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AG is equal to 1.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $582.485 million for First Majestic Silver - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 193.106 million for First Majestic Silver is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of First Majestic Silver at the current share price and the inputted number of shares is $1.0 billion.

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COMPANY NEWS

▶ Start Adding First Majestic Silver Corp   [Nov-13-18 12:35PM  GuruFocus.com]
▶ First Majestic: 3Q Earnings Snapshot   [10:20AM  Associated Press]
▶ First Majestic Silver Corp Rises on Production Results   [Oct-16-18 12:50PM  GuruFocus.com]
▶ First Majestic Files Preliminary Base Shelf Prospectus   [Oct-15-18 09:10PM  GlobeNewswire]
▶ ''Superfirms' Domination Influences Economic Factors''   [Sep-26-18 09:05AM  ACCESSWIRE]
▶ Why First Majestic Silver Dropped 15.9% in August   [Sep-10-18 04:51PM  Motley Fool]
▶ ''Robust Economy, Resilient Market''   [Aug-23-18 09:02AM  ACCESSWIRE]
▶ Silver Prices Have Collapsed and Now Miners May Be Next   [Aug-16-18 04:59PM  TheStreet.com]
▶ First Majestic: 2Q Earnings Snapshot   [07:23AM  Associated Press]
▶ My Favorite Metric When Analyzing Gold and Silver Stocks   [May-21-18 07:51AM  Motley Fool]
▶ First Majestic: 1Q Earnings Snapshot   [05:06AM  Associated Press]
▶ Zillow to Buy and Flip Homes in Phoenix and Las Vegas   [Apr-13-18 01:33PM  InvestorPlace]
▶ First Majestic Renews Share Repurchase Program   [Mar-19-18 07:00AM  GlobeNewswire]
▶ 3 Top Growth Stocks to Buy in March   [Mar-07-18 09:27AM  Motley Fool]
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▶ How Are Miners Performing in the First Month of 2018?   [Jan-26-18 11:13AM  Market Realist]
▶ First Majestic Prices Offering of Convertible Senior Notes   [Jan-25-18 07:30AM  GlobeNewswire]
▶ The Gemstone Sector Could Be Set To Boom   [Jan-23-18 07:30PM  Oilprice.com]
▶ How Do Mining Stocks RSI Indicators Look?   [Jan-22-18 01:29PM  Market Realist]
▶ Analyzing the Correlation of Gold to Miners in January 2018   [Jan-19-18 07:37AM  Market Realist]
▶ A Brief Analysis of Silver Miners in January 2018   [Jan-11-18 10:40AM  Market Realist]
▶ Why First Majestic Silver Corp. Stock Fell 11% in 2017   [Jan-08-18 01:09PM  Motley Fool]
▶ Understanding the Recent Gold-Platinum Cross Rate   [Jan-05-18 07:34AM  Market Realist]
▶ Top 3 Growth Stocks For The Month   [11:02AM  Simply Wall St.]
▶ Why Platinum Led the Precious Metals Pack on December 18   [Dec-19-17 10:52AM  Market Realist]
▶ Analyzing Mining Stocks Post-Rate-Hike Movement   [Dec-18-17 03:46PM  Market Realist]
▶ Todays Correlation Study of Key Mining Stocks with Gold   [Dec-13-17 11:58AM  Market Realist]
▶ The Correlation Trends of Miners in 2017   [Dec-12-17 03:20PM  Market Realist]
▶ In What Direction Are Precious Metals Headed?   [09:49AM  Market Realist]
▶ 1 Top Silver Stock to Buy Now   [Dec-08-17 07:45AM  Motley Fool]
▶ Analyzing Miners Volatility Indicators   [Dec-07-17 04:30PM  Market Realist]
▶ Mining Stocks: RSI and Moving Average Indicators   [Dec-06-17 09:02AM  Market Realist]

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