The Gold Report
Canadian investment advisors expect stock prices to decline over the next quarter, but are increasingly bullish on precious metals and energy, according to the Q310 Advisor Sentiment Survey conducted by BetaPro Management Inc.
The June survey polled nearly 200 advisors, who collectively oversee an estimated $20 billion in client assets, on their outlook for various asset classes.
More than half of Canadian advisors are bearish on U.S. large-cap stocks, represented by the S&P 500 Index, and 45% are bearish on the NASDAQ 100 Index. Both indexes retreated by more than 11% during the second quarter.
But advisors' weakening appetite for stocks was offset by increasing bullishness for precious metals and energy—in particular, gold and natural gas.
Advisors' bullish sentiment for gold stocks on the S&P/TSX Global Gold Index rose to a clear majority of 62%, while sentiment for gold bullion increased by 13 percentage points to 68%.
Notable Quotes
"ROG's Burkina Faso deposit will be easy to mine, inexpensive to build and very profitable." (5/20/13) Roxgold Inc. - The Gold Report Interview with Brent Cook More >
"AMM is the kind of company an investor wants to be involved with." (5/20/13) Almaden Minerals Ltd. - The Gold Report Interview with Brent Cook More >
"ATY had some very good drill results and its VMS project is certainly economic." (5/20/13) Atico Mining Corp. - The Gold Report Interview with Brent Cook More >
"I like LYD because of its simple, low-capex project." (5/20/13) Lydian International Ltd. - The Gold Report Interview with Brent Cook More >
"TMM released record production of 28.3 Koz Au for the quarter." (5/8/13) Timmins Gold Corp. - Joseph Fazzini, Dundee Capital Markets More >
Advisors Take a Shine to PMs
Source: Investment Executive, Megan Harman (7/8/10)
"Advisors increasingly bullish on precious metals."
More Experts
"Drill results from BAR's Martinière indicate a growing, fertile gold system." (5/13/13) Balmoral Resources Ltd. - Eric Lemieux, Laurentian Bank Securities More >
"SAS had a strong cash position of $32.1M at the end of Q1/13." (5/13/13) St Andrew Goldfields Ltd. - Eric Winmill, Casimir Capital More >
"GRG has an exciting high-grade silver discovery and just released an NI-43-101-compliant resource estimate with 105 Moz Ag eq." (5/17/13) Golden Arrow Resources Corp. - The Gold Report Interview with Thibaut Lepouttre More >
"THO's Escobal remains on budget and on schedule; its progress is encouraging." (5/10/13) Tahoe Resources Inc. - Chris Thompson, Raymond James More >
"We reiterate our Outperform rating on P and it remains one of our top picks." (5/10/13) Primero Mining Corp. - Shawn Campbell, Macquarie Capital Markets More >