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Feb. 24, 2020, 11:01 a.m. EST

Gold miner stocks rally, as COVID-19 fears sparks gold price spike to 7-year high

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    VanEck Vectors Gold Miners ETF (GDX)
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    Harmony Gold Mining Co. Ltd. ADR (HMY)
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    Gold Fields Ltd. ADR (GFI)

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By Tomi Kilgore

Gold stocks were rallying, as fears over the global spread of COVID-19 helped attract buyers of the safe-haven metal. The VanEck Vectors Gold Miners ETF /zigman2/quotes/206399889/composite GDX +0.94% rose 2.0%, with 38 of 48 components trading higher, to trade at the highest prices seen since August 2016. Among the more-active U.S.-listed components, shares of Harmony Gold Mining Co. /zigman2/quotes/203958044/composite HMY +0.30% rose 4.5%, Gold Fields Ltd. /zigman2/quotes/203666867/composite GFI +3.21% gained 3.0% and Newmont Corp. /zigman2/quotes/205356474/composite NEM -0.43% hiked up 2.6%, while Hecla Mining Co. /zigman2/quotes/201669377/composite HL +5.40% fell 2.1%. Meanwhile, continuous gold futures /zigman2/quotes/210034565/delayed GC00 -0.50% jumped 1.8% to the highest level seen since February 2013, and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.07% sank 802 points, or 2.8%.

/zigman2/quotes/206399889/composite
US : U.S.: NYSE Arca
$ 34.32
+0.32 +0.94%
Volume: 33.43M
May 29, 2020 4:00p
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/zigman2/quotes/203958044/composite
US : U.S.: NYSE
$ 3.33
+0.01 +0.30%
Volume: 7.91M
May 29, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.79 billion
Rev. per Employee
$53,679
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/zigman2/quotes/203666867/composite
US : U.S.: NYSE
$ 7.72
+0.24 +3.21%
Volume: 7.09M
May 29, 2020 4:00p
P/E Ratio
40.52
Dividend Yield
1.04%
Market Cap
$6.82 billion
Rev. per Employee
$292,510
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/zigman2/quotes/205356474/composite
US : U.S.: NYSE
$ 58.47
-0.25 -0.43%
Volume: 23.79M
May 29, 2020 4:00p
P/E Ratio
13.53
Dividend Yield
1.71%
Market Cap
$46.93 billion
Rev. per Employee
$300,083
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/zigman2/quotes/201669377/composite
US : U.S.: NYSE
$ 3.32
+0.17 +5.40%
Volume: 10.66M
May 29, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
0.30%
Market Cap
$1.75 billion
Rev. per Employee
$326,159
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/zigman2/quotes/210034565/delayed
US : U.S.: Nymex
$ 1,743.00
-8.70 -0.50%
Volume: 147,014
May 29, 2020 4:59p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
25,383.11
-17.53 -0.07%
Volume: 545.14M
May 29, 2020 5:14p
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