Precious Metals Stocks in the Black on Black Monday

The impact that China’s Monday stock market selloff has had worldwide has been well documented at this point.
The rout, prompted by Friday manufacturing data out of Beijing, led to declines on indices across the globe, including those in North America, Europe and emerging markets. It’s also led to wider concerns about the Chinese economy, and indeed about the global economy — for example, some are speculating that the crash may impact whether or not the US Federal Reserve goes through with its planned interest rate increase.
For metals, the impact was little better. Despite seeing some gains on safe-haven buying, spot gold finished the day down 0.53 percent, at $1,154.90 per ounce. Spot silver saw even bigger losses, falling 3.4 percent to finish at $14.79 per ounce.
Meanwhile, the spot copper price has been testing the $2.30 per pound level recently, and finally dipped below that number on Monday to close at $2.25.

Unsurprisingly, major mining stocks also suffered in the wake of the selloff. Bloomberg reported that the share prices of major miners like Glencore (LSE:GLEN), BHP Billiton (LSE:BLT) and ExxonMobil (NYSE:XOM) saw drops — indeed, by end of day Monday they were down 13.02, 6.34 and 4.74 percent, respectively.
However, while the rout in global markets left those and many more mining companies in the red, not all suffered. Here’s a look at a few TSX- and TSXV-listed precious metals stocks that closed higher on Monday:

• Apogee Silver (TSXV:APE) — Jumped 22.58 percent to close at $0.38. Up 16.92 percent year-to-date.
• Goldsource Mines (TSXV:GXS) — Rose 9.68 percent to end the day at $0.17. Up 13.33 percent since the start of 2015.
• St. Augustine Gold and Copper (TSX:SAU) — Increased 5.26 percent to finish at $0.10. Year-to-date down 16.67 percent.
• Peruvian Precious Metals Company (TSXV:PPX) — Saw a 4.17-percent rise to end Monday at $0.125. Share price flat since the beginning of the year.
• Golden Arrow Resources (TSXV:GRG) — Share price rose 4.08 percent to close at $0.255. Has seen a 4.08-percent rise in 2015.
• Marlin Gold Mining (TSXV:MLN) — Took a 3.33-percent step up Monday to end at $0.31. Share price down 44.64 percent year-to-date.
• Banro (TSX:BAA) — Enjoyed a modest 1.96-percent rise to finish at $0.26. Up an impressive 73.33 percent year-to-date.

As those numbers show, there’s still hope in the markets for those able to take the time to find it. What’s particularly interesting is that many of the companies that enjoyed gains in the face of Monday’s chaos have also risen over the course of 2015 — they may be worth investors’ time given that they appear able to rise amid increasingly tough markets.

 
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Related reading: 
Black Monday: China Leads Selloff in Global Stock Markets
Black Monday: What Does it Mean for Metals Investors?