Updating this blog post all the way from January 2013, you can see that the Canadian benchmark has indeed pushed on higher to test 2011 highs. This has all been happening even as premier Canadian ag plays like POT have turned in lackluster performances. Indeed, many other Canadian miners have also been duds, though the turnarounds in early-2014 are promising.
Currently, the 2011 highs are likely to offer some overhead supply.
My take is this: The leaders in Canada, such as the insurers and banks, are now likely to lag while the miners attempt to pick up the slack.
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MEOH and PD have already started their moves, CNQ as well.
Nice, thanks.
I have used royalty trusts in canada for decades. when it’s the miners,oil/gas,commodities cycle,a tip is to buy directly on toronto exchange because the canadian dollar strength can boost your return. I had Atlantic Power for years.When I sold it I gained 16% on currency alone plus monster dividends and solid cap gain. The K-1 was filled out so easy. fear of K-1’s has always made me laugh when i hear it. anyway. good luck. $PGH bought under $5 letting it rip long term. plenty from which to choose. nice job spotting the trend and highlighting for the folks.
Although I agree, it’s a nice start to the year for miners, beware the Q2 reporting blues for the industry as a whole… I’m skeptical this is the “start” of the next run for metals/miners…. but it will come, when is the question. Currently some nice trading opportunities. FD; I am an insider of TMX:GPR. opinion is my own.