Stocks Down Under 9 July 2020: Saracen Mineral, ALE Property Group, Catapult Group
Saracen Mineral Holdings: Super pit, super excited
You’ve got to hand it to the gold miners on ASX – it’s as if the Corona Crash never happened. The stock of Saracen, which as of last year owns half of the famous Kalgoorlie Super Pit, came down 35% between 24 February and 16 March, while the S&P/ASX200 came down 28%. But since then Saracen has about doubled and the general market is only up about 20%. And with gold headed to US$2,000 an ounce, we believe the party is probably not over just yet.
Also in this edition: ALE Property Group and Catapult Group.
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