The 5 Worst Commodity Stocks of 2013
With 2013 drawing to a close, we’re taking a moment to reflect on the biggest moves seen by commodity investors over the past year on Wall Street. Last week, we profiled the best performing commodity stocks of the year; this list was largely dominated by U.S. oil & gas companies as the domestic energy boom took root in 2013. While some commodity producers managed to rake in stellar triple-digit gains, most fell on the other end of the performance spectrum and struggled to rally amid 2013′s bull market [for more commodity news and analysis subscribe to our free newsletter]. Sluggish growth prospects in China coupled with uncertainty surrounding the timing and magnitude of the Fed taper at home have served, and remain, as two key headwinds for commodity investors looking ahead to 2014.
Barrick Gold (ABX) Flirts With Support
Wall Street’s strong bull run has continued into the final trading days of the first month of the new year, leading many equity investors to believe that 2013 will be quite prosperous. Upbeat corporate earnings and solid economic data releases, including December’s better-than-expected durable goods orders report, have served as fundamental catalysts behind the stock market rally. Amid the improving sentiment, precious metals prices have understandably suffered as investors are opting for risky assets in lieu of safe haven ones; however, there might be some “bargain shopping” opportunities for risk-tolerant investors looking to dip their toes in the gold miners space [for more market news and analysis subscribe to our free newsletter].
