Metals & Mining ETF: Reversal in play (NYSE:XME, NYSE:SA, NYSE:EXK, NASDAQ:RGLD )

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The SPDR S&P Metals & Mining ETF ($XME) is trading up again today, retesting the summer high of $37.80 set last week. Shares were last at $37.56 on a volume of 698,167 shortly after 11 am EST.

The chart of the XME, like many of the metals and mining stocks has formed a reversal pattern known as in inverse head and shoulders. Technical traders would be looking for a measured move of about $6 above the neckline at $36, or a target near $42 per share for the XME. That level was support last fall and became resistance in March as shares failed to rally above the prior support. Technicians will look for the $36 level to hold for the pattern to remain valid.

Shares are above the 50 day moving average and are approaching the 200 day, currently at $39.39.

52 Week Range $31.83-$48.26
Market Cap 613,052,000
Average Volume 3,292,480
Dividend Yield 1.66%
Institutional Ownership 0.00%
Insider Ownership: 0.00%
Percentage of Float Short 18.60%
Beta 1.79

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the metals and mining segment of a U.S. total market composite index. In seeking to track the performance of the S&P Metals & Mining Select Industry Index (the “index”), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the metals and mining industry group of the S&P Total Market Index (“S&P TMI”). The fund is non-diversified.

The top performing peers this past month have been Seabridge Gold (NYSE:SA) at $15.97 up +39.49% in the past month, Endeavour Silver Corp (NYSE:EXK) at $5.31, up +29.08% and Royal Gold, Inc (NASDAQ:RGLD) at $63.92 up +25.65% in the past month.

Their respective charts are listed below.

52 Week Range $8.23-$20.34
Market Cap 722,979,687
Average Volume 601,963
Dividend Yield 0.00%
Institutional Ownership 82.80%
Insider Ownership: 0.00%
Percentage of Float Short 10.20%
Beta 0.77

Seabridge Gold, Inc. is a development stage company. It acquires and explores gold properties located in North America.

52 Week Range $2.88-$10.73
Market Cap 531,619,583
Average Volume 1,572,555
Dividend Yield 0.00%
Institutional Ownership 33.50%
Insider Ownership: 0.00%
Percentage of Float Short 1.20%
Beta 1.18

Endeavour Silver Corporation is a mid-tier silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The Company owns three silver producing mines in Mexico: the Guanacev mine, the Bolaitos & El Cubo mines.

52 Week Range $38.64-$100.84
Market Cap 4,115,885,086
Average Volume 1,027,530
Dividend Yield 1.30%
Institutional Ownership 75.10%
Insider Ownership: 4.40%
Percentage of Float Short 5.30%
Beta 0.42

Royal Gold Inc, together with its subsidiaries, is engaged in the business of acquiring and managing precious metals royalties, precious metals streams and similar interests.

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