GoldMining Earnings Estimate
| GOLD Stock | CAD 1.24 0.07 5.98% |
GoldMining |
GoldMining Earnings per Share Projection vs Actual
About GoldMining Earnings Estimate
The earnings estimate module is a useful tool to check what professional financial analysts are assuming about the future of GoldMining earnings. We show available consensus EPS estimates for the upcoming years and quarters. Investors can also examine how these consensus opinions have evolved historically. We show current GoldMining estimates, future projections, as well as estimates 1, 2, and three years ago. Investors can search for a specific entity to conduct investment planning and build diversified portfolios. Please note, earnings estimates provided by Macroaxis are the average expectations of expert analysts that we track. If a given stock such as GoldMining fails to match professional earnings estimates, it usually performs purely. Wall Street refers to that as a 'negative surprise.' If a company 'beats' future estimates, it's usually called an 'upside surprise.'
Please read more on our stock advisor page.| Last Reported | Projected for Next Year | ||
| Retained Earnings | -5.1 M | -5.4 M | |
| Earnings Yield | (0.13) | (0.12) | |
| Price Earnings Ratio | (6.46) | (6.78) | |
| Price Earnings To Growth Ratio | (0.07) | (0.06) |
Pair Trading with GoldMining
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if GoldMining position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in GoldMining will appreciate offsetting losses from the drop in the long position's value.Moving together with GoldMining Stock
Moving against GoldMining Stock
| 0.51 | ENB-PFC | Enbridge Pref 11 | PairCorr |
| 0.48 | ECN | ECN Capital Corp Earnings Call Tomorrow | PairCorr |
| 0.43 | HELI | First Helium | PairCorr |
| 0.38 | PPL-PC | Pembina Pipeline Corp | PairCorr |
The ability to find closely correlated positions to GoldMining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GoldMining when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back GoldMining - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling GoldMining to buy it.
The correlation of GoldMining is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GoldMining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GoldMining moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for GoldMining can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GoldMining. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. To learn how to invest in GoldMining Stock, please use our How to Invest in GoldMining guide.You can also try the Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.