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Mining stocks, particularly the juniors, are currently very receptive to good news and more sensitive to move on major events, compared to a year ago, according to Adrian Day of Adrian Day Asset Management.
“Most of the [junior stocks] are flat or even a little bit down, but if they have some news or discovery, they respond very, very well to that,” Day told Kitco News on the sidelines of the Mines & Money Conference in New York.
Although miners have underperformed physical gold this year, Day said that he expects this to change soon.
“Stocks will respond to good news, and that’s interesting, because 12 months ago stocks weren’t even responding to good news, so I think we’re beginning to see that turn,” Day said.
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