Two Key Implications From Aussie Gold Stocks Underperformance -- Market Talk

Dow Jones

09/10

0037 GMT - There are two key implications from the recent underperformance of Australian gold equities, says Bell Potter. One is that ASX gold stocks catch up strongly. The other is more inbound M&A. Analyst David Coates says the disconnect between ASX-listed gold producers and overseas companies is a significant departure from historic trading patterns. "Looking back, the only disconnect in the last 10 years is the two-way volatility (which quickly reverted) at the onset of the Covid pandemic," Bell Potter says. While ASX gold miners' FY 2026 production and cost guidance missed expectations, this was also a theme overseas. Bell Potter says other potential factors, including FX differentials or rising labor costs, also aren't a fundamental or sustainable justification for the stocks' underperformance. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

September 09, 2025 20:37 ET (00:37 GMT)

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One is that ASX gold stocks catch up strongly. The other is more inbound M&amp;A. Analyst David Coates says the disconnect between ASX-listed gold producers and overseas companies is a significant departure from historic trading patterns. \"Looking back, the only disconnect in the last 10 years is the two-way volatility (which quickly reverted) at the onset of the Covid pandemic,\" Bell Potter says. While ASX gold miners' FY 2026 production and cost guidance missed expectations, this was also a theme overseas. Bell Potter says other potential factors, including FX differentials or rising labor costs, also aren't a fundamental or sustainable justification for the stocks' underperformance. 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One is that ASX gold stocks catch up strongly. The other is more inbound M&amp;A. Analyst David Coates says the disconnect between ASX-listed gold producers and overseas companies is a significant departure from historic trading patterns. \"Looking back, the only disconnect in the last 10 years is the two-way volatility (which quickly reverted) at the onset of the Covid pandemic,\" Bell Potter says. While ASX gold miners' FY 2026 production and cost guidance missed expectations, this was also a theme overseas. Bell Potter says other potential factors, including FX differentials or rising labor costs, also aren't a fundamental or sustainable justification for the stocks' underperformance. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 09, 2025 20:37 ET (00:37 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PNR.AU","symbol_name":"PANTORO LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2566264208","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2566264208","pubTimestamp":1757464620,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0037 GMT - There are two key implications from the recent underperformance of Australian gold equities, says Bell Potter. One is that ASX gold stocks catch up strongly. The other is more inbound M&A. Analyst David Coates says the disconnect between ASX-listed gold producers and overseas companies is a significant departure from historic trading patterns. \"Looking back, the only disconnect in the last 10 years is the two-way volatility  at the onset of the Covid pandemic,\" Bell Potter says. While ASX gold miners' FY 2026 production and cost guidance missed expectations, this was also a theme overseas. Bell Potter says other potential factors, including FX differentials or rising labor costs, also aren't a fundamental or sustainable justification for the stocks' underperformance. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"PNR.AU":"PANTORO LTD","BM1.AU":"Ballard Mining Ltd","CMM.AU":"CAPRICORN METALS LTD","SMI.AU":"Santana Minerals Ltd","EVN.AU":"EVOLUTION MINING LTD","MI6.AU":"MINERALS 260 LTD","RRL.AU":"REGIS RESOURCES LTD"},"translate_title":"澳大利亚黄金股表现不佳的两个关键影响——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BM1.AU":0.9,"CMM.AU":0.9,"EVN.AU":0.9,"1OZmain":1,"MI6.AU":0.9,"PNR.AU":0.9,"RRL.AU":0.9,"SMI.AU":0.9},"content_text":"0037 GMT - There are two key implications from the recent underperformance of Australian gold equities, says Bell Potter. One is that ASX gold stocks catch up strongly. The other is more inbound M&A. Analyst David Coates says the disconnect between ASX-listed gold producers and overseas companies is a significant departure from historic trading patterns. \"Looking back, the only disconnect in the last 10 years is the two-way volatility (which quickly reverted) at the onset of the Covid pandemic,\" Bell Potter says. While ASX gold miners' FY 2026 production and cost guidance missed expectations, this was also a theme overseas. Bell Potter says other potential factors, including FX differentials or rising labor costs, also aren't a fundamental or sustainable justification for the stocks' underperformance. 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