GURU.Markets stock price, segment price, and overall market index valuation
The company's share price Gold Resource
Gold Resource is a small precious metals mining company. Its share price is highly dependent on gold and silver prices, as well as operational risks and exploration success at its mines in Mexico and the United States.
Share prices of companies in the market segment - Metal drag
Gold Resource Corporation is a precious metals mining company with assets in Mexico and the United States, focused on gold and silver exploration and production. We classify it as part of the Precious Metals sector. The chart below reflects the overall performance of this sector.
Broad Market Index - GURU.Markets
Gold Resource is a mining company that produces gold and other precious metals. As a prominent player, it is included in our GURU.Markets index. The chart below reflects the overall stock market performance. Compare it to Gold Resource shares to understand how metal prices affect producers.
Change in the price of a company, segment, and market as a whole per day
GORO - Daily change in the company's share price Gold Resource
Gold Resource Corp.'s daily share price fluctuations reflect the high volatility inherent in the precious metals mining sector. This metric is a direct measure of sensitivity to gold and silver prices, serving as a foundation for assessing risk in commodity companies.
Daily change in the price of a set of shares in a market segment - Metal drag
Gold Resource Corporation is a precious metals producer. This chart reflects the sector's high volatility. Comparing it to GORO's performance, which is highly correlated with silver and gold prices, helps to assess it as a direct bet on these metals.
Daily change in the price of a broad market stock, index - GURU.Markets
Gold Resource is a company that mines gold and other precious metals. Its shares are directly dependent on global commodity prices. This high volatility directly reflects commodity market dynamics, which are a key component of the overall picture of daily stock market fluctuations.
Dynamics of market capitalization of the company, segment and the market as a whole over 12 months
Annual dynamics of the company's market capitalization Gold Resource
For Gold Resource Corporation, annual performance is a story about its two mining assets. Its market capitalization change over the past 12 months reflects both the operating results and costs of its mine in Mexico, the progress of its new project in Michigan, and, of course, overall gold and silver prices.
Annual dynamics of market capitalization of the market segment - Metal drag
Gold Resource Corporation is a precious metals mining company. After spinning off its Nevada assets, the company focused on operations in Mexico. The chart below shows how its new, more focused strategy, its dependence on gold and silver prices, and its exposure to Mexico are impacting its performance.
Annual dynamics of market capitalization of broad market stocks, index - GURU.Markets
Gold Resource, like other small miners, is a high-risk bet on precious metals prices. Its stock price movements follow fluctuations in gold and silver prices with wide variance, and also depend on the operational success of its individual mines.
Dynamics of market capitalization of the company, segment and the market as a whole for the month
Monthly dynamics of the company's market capitalization Gold Resource
Gold Resource is a precious metals mining company. Its monthly performance closely correlates with global gold and silver prices. Quarterly reports on production volumes, costs, and exploration results contribute additional factors, but the primary trend is driven by the commodity market.
Monthly dynamics of market capitalization of the market segment - Metal drag
Gold Resource Corporation is a precious metals mining company with operations in Mexico and the United States. It produces gold and silver and pays dividends to its shareholders. The chart below shows the dynamics of the precious metals sector, reflecting both metal prices and the company's operating performance.
Monthly dynamics of market capitalization of broad market stocks, index - GURU.Markets
Gold Resource is a gold and silver mining company in North America. Its shares directly track precious metal prices. During periods of market uncertainty and inflation, they can act as a safe haven, performing counter to the broader market.
Dynamics of market capitalization of the company, segment and the market as a whole for the week
Weekly dynamics of the company's market capitalization Gold Resource
Gold Resource Corporation, a gold mining company with assets in North America, whose weekly stock performance is closely tied to precious metal prices. Fluctuations in gold and silver prices, as well as news of mining results, shape short-term trends, reflecting sentiment in the commodity market.
Weekly dynamics of market capitalization of the market segment - Metal drag
Gold Resource Corporation is a precious metals mining company. Its market capitalization is directly dependent on gold and silver prices. By comparing its weekly performance with the sector, one can see whether its operational success is driving its performance or whether its shares are simply following global fluctuations in the metals market.
Weekly dynamics of market capitalization of stocks of the broad market, index - GURU.Markets
Gold Resource is a precious metals mining company. Gold mining stocks often move counter to the market, as gold is considered a safe haven asset. The chart will show whether GORO is a hedge against market declines or whether its performance is more dependent on its own operational success.
Market capitalization of the company, segment and market as a whole
GORO - Market capitalization of the company Gold Resource
The Gold Resource chart is a financial map of precious metals production in North America. This company's market capitalization reflects not only gold and silver prices but also its operating efficiency at its mines in Nevada and Mexico. Its performance is a barometer of how investors assess its ability to generate cash flow from its assets.
GORO - Share of the company's market capitalization Gold Resource within the market segment - Metal drag
Gold Resource's market share in the mining sector positions it as a junior precious metals producer. Its market weight is a direct reflection of the production volumes at its mines combined with current gold prices, making it sensitive to market conditions.
Market capitalization of the market segment - Metal drag
Gold Resource is a small gold and silver mining company. The chart below shows the total market capitalization of the entire precious metals sector. Its dynamics are a barometer of global economic uncertainty and the demand for safe haven assets that these companies operate in.
Market capitalization of all companies included in a broad market index - GURU.Markets
Gold Resource is a company that mines gold and other precious metals. Its market capitalization is closely tied to the prices of these commodities and the success of its mining operations. The chart below shows the economic weight of small mining companies.
Book value capitalization of the company, segment and market as a whole
GORO - Book value capitalization of the company Gold Resource
Gold Resource's book value is its mines and processing plants. The chart below is a financial valuation of its physical assets in the ground. Its dynamics are closely linked to gold prices and the company's investments in exploration and maintaining production capacity.
GORO - Share of the company's book capitalization Gold Resource within the market segment - Metal drag
Gold Resource is a precious metals mining company. Its value is directly tied to its ownership of mines and processing plants. The sector share chart shows how much of the physical gold and silver mining infrastructure in its region the company controls.
Market segment balance sheet capitalization - Metal drag
Gold Resource Corporation is a mining company. Its assets include operating mines, processing plants, and mining equipment. It's a classic, extremely capital-intensive business. The chart below illustrates the massive foundation of real, tangible assets that underpins the entire mining industry.
Book value of all companies included in the broad market index - GURU.Markets
Gold Resource's assets are operating gold and silver mines in Mexico and the United States. The company's book value is directly linked to its proven precious metal reserves and mining equipment. The chart shows the physical volume of resources under its control.
The ratio of market capitalization to book capitalization of a company, segment, and the market as a whole
Market capitalization to book capitalization ratio - Gold Resource
Gold Resource is a precious metals mining company. Its balance sheet is the value of its mines and equipment. Its market capitalization directly follows the prices of gold and silver, as well as its operating efficiency. The chart shows how the valuation of these physical assets fluctuates depending on commodity market sentiment.
Market to book capitalization ratio in a market segment - Metal drag
Gold Resource is a precious metals mining company. Its core assets are gold and silver mines and reserves. The chart shows how the market values ββthese tangible assets. This value is directly dependent on global metal prices, operational efficiency, and geological risks.
Market to book capitalization ratio for the market as a whole
Gold Resource Corporation is a precious metals mining company with assets in North America. This chart shows how the market values ββthis small gold and silver producer. Its market capitalization is directly linked to metal prices, production volumes, and the operating efficiency of its mines, creating a close, yet volatile, relationship with its assets.
Debts of the company, segment and market as a whole
GORO - Company debts Gold Resource
Gold Resource is a mining company focused on gold and other precious metals. Debt in this sector is often associated with capital expenditure cycles for exploring new deposits or upgrading processing plants. This chart shows how the company manages its finances amid volatile metal prices.
Market segment debts - Metal drag
Gold Resource Corporation is a company engaged in the extraction and exploration of precious metals. The mining business is capital-intensive and highly dependent on global gold and silver prices. This chart reflects the typical debt load for the sector, which is used to finance exploration, construction, and mine operations, which are the core of their operations.
Market debt in general
Debt to book value of the company, segment and market as a whole
The company's debt to book capitalization ratio Gold Resource
Gold Resource is a company that mines gold and other precious metals. Its financial health is highly dependent on volatile commodity prices. This chart shows the company's debt load, a critical metric. High debt can quickly lead to serious financial problems when gold prices fall, and this chart helps assess this risk.
Market segment debt to market segment book capitalization - Metal drag
Precious metal mining, Gold Resource's core business, requires significant capital investment in exploration and mine operations. This chart shows the overall debt burden in the mining sector. It allows one to assess how conservatively or aggressively this small company uses debt to finance its operations compared to industry giants.
Debt to book value of all companies in the market
Gold Resource is a gold mining company whose business is heavily dependent on capital expenditures for exploration and development. Debt is a standard financing tool for such projects. This chart compares their leverage level with the general trend in the commodity and industrial markets.
P/E of the company, segment and market as a whole
P/E - Gold Resource
This chart shows the valuation of Gold Resource Corporation, a gold and precious metals mining company. For a company in the mining sector, this metric is highly dependent on global commodity prices. It reflects investor expectations regarding gold price trends and the company's operational success at its mines.
P/E of the market segment - Metal drag
This chart shows the average valuation for smaller gold mining companies similar to Gold Resource. This metric is highly dependent on gold prices and serves as an indicator of overall sentiment in the sector. It helps understand how the market values ββGold Resource's operating assets compared to other precious metals producers.
P/E of the market as a whole
Gold Resource Corporation produces gold and silver at its mines in North America. The company's financial results are directly dependent on precious metal prices, which often rise during times of economic uncertainty. This chart of overall market sentiment can serve as a counter-indicator: when the market declines, investors may seek refuge in gold, supporting the company's valuation.
Future P/E of the company, segment and market as a whole
Future (projected) P/E of the company Gold Resource
Gold Resource Corporation is a precious metals mining company with assets in North America. Its future profitability is directly linked to gold and silver prices, as well as the operational efficiency of its mines. This chart reflects investor expectations regarding precious metals price trends and the company's ability to manage costs and inventory.
Future (projected) P/E of the market segment - Metal drag
Gold Resource Corporation is a precious metals mining company with assets in Mexico and the United States. The company also pays dividends, returning a portion of its profits to shareholders. Its performance is dependent on gold and silver prices. The chart reflects average sector expectations, which helps understand how the market values ββthis small precious metals producer.
Future (projected) P/E of the market as a whole
Gold Resource Corporation is a gold and precious metals mining company. Its shares often act as a safe haven. This chart of overall market expectations helps put this into context. When market optimism is high, investors favor risky stocks. When market optimism declines, demand for gold as a safe haven increases, which traditionally benefits companies like Gold Resource.
Profit of the company, segment and market as a whole
Company profit Gold Resource
Gold Resource Corporation is a gold and precious metals mining company. This graph is closely linked to gold and silver prices. The company's profit is directly dependent on the difference between the market value of mined metals and the operating costs of their extraction. Exploration success and production efficiency are key factors.
Profit of companies in the market segment - Metal drag
Urban One, Inc. is the largest media company in the United States targeting African-American audiences. It owns radio stations, television channels, and digital platforms. This chart shows how media companies focused on a specific demographic niche can build a loyal audience, but their profitability still depends on overall trends in the advertising market.
Overall market profit
Gold Resource Corporation is a gold and precious metals mining company with assets in North America. Its financial results are directly dependent on global gold prices, which are often considered a safe haven. During periods of economic uncertainty, its business can perform contrary to the overall market, as reflected here.
Future (predicted) profit of the company, segment and market as a whole
Future (projected) profit of the company Gold Resource
Gold Resource Corporation is a precious metals mining company with assets in Mexico and the United States. Its future profit forecast is directly dependent on gold and silver prices, as well as the operating efficiency of its mines. This chart shows analyst consensus on future precious metal prices and the company's ability to control its costs.
Future (predicted) profit of companies in the market segment - Metal drag
Gold Resource Corporation is a precious metals mining company with assets in North America. In addition to gold and silver, it also produces copper, lead, and zinc. This chart shows profitability forecasts for the mining industry. It allows one to assess how diversification across various metals helps the company manage commodity market volatility.
Future (predicted) profit of the market as a whole
Gold Resource Corporation is engaged in the mining of precious metals. During periods of economic instability, when corporate profit forecasts (as in this chart) decline, demand for gold as a safe haven often increases. Therefore, the company's business may demonstrate an inverse correlation with the overall health of the corporate sector.
P/S of the company, segment and market as a whole
P/S - Gold Resource
Gold Resource Corporation is a precious metals mining company with assets in North America. Its revenue is directly dependent on gold and silver production volumes, as well as global prices. This chart shows how investors view its sales, which reflects not only its operational performance but also the overall sentiment in the precious metals market.
P/S market segment - Metal drag
Gold Resource Corporation is a precious metals mining company that produces gold and silver at its mines in Mexico and Nevada. The company's revenue is directly dependent on production volumes and global metal prices. This chart reflects the average valuation in the sector, allowing investors to compare how they view Gold Resource's operations.
P/S of the market as a whole
Gold Resource Corporation is a precious metals mining company with assets in Mexico. Its revenue is directly dependent on gold and silver prices, as well as operational efficiency. This chart provides a comprehensive picture, allowing you to compare the valuation of a small miner whose revenue is tied to volatile commodity prices with the market as a whole.
Future P/S of the company, segment and market as a whole
Future (projected) P/S of the company Gold Resource
Gold Resource Corporation is a precious metals mining company with assets in North America. This chart illustrates how investors estimate the company's future revenue. This estimate is directly dependent on projected gold and silver production volumes at its mines, as well as expectations for the future global price dynamics of these metals.
Future (projected) P/S of the market segment - Metal drag
Gold Resource Corporation is a precious metals mining company with assets in Mexico and the United States. It produces gold, silver, copper, lead, and zinc, returning a portion of its profits to shareholders in the form of dividends. This chart compares GORO's estimated future sales with those of other mining companies, reflecting the market's view of its diversified assets and operating efficiency.
Future (projected) P/S of the market as a whole
Expectations of future income in the economy can be linked to precious metal prices. Gold Resource Corporation is a small gold and silver mining company. Its financial results are directly dependent on the prices of these metals. The stable performance of such producers is important for the commodities sector and reflects the sentiment of investors seeking protection from inflation.
Sales of the company, segment and market as a whole
Company sales Gold Resource
Gold Resource Corporation is a gold and silver mining company. Its revenue is directly dependent on two key factors: the volume of precious metals produced and sold, and their volatile market prices. This chart directly reflects the operating efficiency of its mines and the state of global commodity markets.
Sales of companies in the market segment - Metal drag
Gold Resource Corporation is a precious metals mining company operating mines in Mexico and the United States. Its unique feature is its monthly dividend payments to shareholders. This chart shows the total revenue of precious metals miners. It reflects the overall health of the industry and the prices of gold and silver, which directly impact the company's profitability and dividend policy.
Overall market sales
Gold Resource Corporation is a precious metals mining company with assets in North America. Its revenue and profitability are directly dependent on gold and silver prices, which often rise during periods of economic instability. This chart, showing the overall state of the economy, helps assess macroeconomic risks that could increase demand for gold as a safe haven asset.
Future sales volume of the company, segment and market as a whole
Future (projected) sales of the company Gold Resource
Gold Resource Corporation is a precious metals mining company with assets in Mexico and the United States. Its revenue is directly dependent on gold and silver production volumes and global prices. This chart shows analysts' expectations for future sales, reflecting their forecasts for both mine operating efficiency and metal price dynamics.
Future (projected) sales of companies in the market segment - Metal drag
Gold Resource Corporation is a precious metals mining company with assets in the United States and Mexico. Its financial results are directly dependent on global gold and silver prices, as well as operational efficiency. This chart shows the aggregate revenue forecast for the entire precious metals mining sector, reflecting analyst expectations regarding future prices and demand.
Future (projected) sales of the market as a whole
Gold Resource Corporation mines gold and silver. The company's revenue is directly dependent on the prices of precious metals, which are often considered safe havens. This general economic activity trend can be inversely correlated with the price of gold: economic uncertainty often stimulates demand, which benefits GORO.
Marginality of the company, segment and market as a whole
Company marginality Gold Resource
Gold Resource Corporation is a precious metals mining company. This metric is a direct reflection of its operating performance. It shows what portion of the company's gold and silver revenues it converts into net profit. This trend is closely linked to global metal prices and the cost efficiency of its mines.
Market segment marginality - Metal drag
Gold Resource Corporation is a precious metals mining company with assets in North America. Its profitability is directly dependent on gold and silver prices, as well as operating costs at its mines. This chart allows you to evaluate the efficiency of its mining operations compared to other precious metals producers.
Market marginality as a whole
Gold Resource Corporation is a gold and silver mining company with assets in Mexico and the United States. Like other miners, their financial results are almost entirely dependent on precious metal prices. This graph of the overall profitability of their traditional business is important to them as an indicator that can influence the demand for gold as a safe haven asset during periods of instability.
Employees in the company, segment and market as a whole
Number of employees in the company Gold Resource
Gold Resource Corporation is a small precious metals mining company. In the mining sector, headcount is directly related to operational activity. This chart shows the size of the team required to operate its mines. The dynamics reflect production volumes, the launch of new projects, and the mothballing of existing assets.
Share of the company's employees Gold Resource within the market segment - Metal drag
Gold Resource Corporation is a precious metals mining company with assets in Mexico and the United States. This chart shows its share of the total mining workforce in the regions where it operates. It reflects its importance as an employer, providing jobs and supporting local economies.
Number of employees in the market segment - Metal drag
Gold Resource Corporation is a precious metals mining company with operations in Mexico and the United States. This chart shows overall employment in the precious metals mining sector. It illustrates the labor intensity and operational complexity of the mining business. For GORO, effective personnel management at its mines is key to achieving production plans.
Number of employees in the market as a whole
Gold Resource Corporation mines gold and other precious metals. Mining is a capital- and labor-intensive industry that creates jobs in mining regions. This overall employment curve is largely dependent on cyclical commodity sectors, where the activities of companies like GORO directly impact living standards and employment in entire regions.
Market capitalization per employee (in thousands of dollars) of the company, segment, and market as a whole
Market capitalization per employee (in thousands of dollars) of the company Gold Resource (GORO)
Gold Resource Corporation is engaged in gold and silver mining and exploration. This chart illustrates the specifics of the mining industry. Relatively low capitalization per employee is typical for this sector due to the high capital intensity (mines, equipment) and the need for a large staff of workers, engineers, and geologists to run operations.
Market capitalization per employee (in thousands of dollars) in the market segment - Metal drag
Gold Resource Corporation is engaged in the extraction and exploration of precious metals. In the mining industry, this metric can vary widely. It reflects not only personnel efficiency but also the quality of assets (deposits). A high value may indicate rich reserves or low production costs, allowing for greater value generation with a smaller team.
Market capitalization per employee (in thousands of dollars) for the overall market
Gold Resource Corporation is a small gold and precious metals mining company. In the mining industry, a company's value is primarily determined by its reserves and operational efficiency. This metric helps assess how effectively a company utilizes its personnel to extract value from its deposits.
Profit per employee (in thousands of dollars) for the company, segment, and market as a whole
Profit per employee (in thousands of dollars) of the company Gold Resource (GORO)
Gold Resource Corporation is a precious metals miner with assets in Mexico. Mining is a capital- and labor-intensive process. This chart is directly linked to the mine's operational efficiency and gold prices. It shows how much net profit each miner, geologist, and administrative employee generates.
Profit per employee (in thousands of dollars) in the market segment - Metal drag
For Gold Resource, a precious metals mining company, this metric directly reflects operational efficiency. The chart sets the industry benchmark. GORO's profitability per employee is heavily dependent on gold prices, but also on how efficiently their mine teams extract every ounce, controlling costs, and improving productivity.
Profit per employee (in thousands of dollars) for the market as a whole
Gold Resource (GORO) is a precious metals mining company, primarily gold and silver. Their business is traditional mining. This metric for GORO is directly dependent on two factors: the price of gold and the operational efficiency of their mines (how much metal is extracted per miner). It reflects the return on their human capital in mining.
Sales to employees of the company, segment and market as a whole
Sales per company employee Gold Resource (GORO)
This chart for Gold Resource Corporation, a gold and silver miner, shows its operational efficiency. Revenue per employee dynamics are directly linked to mine production volumes, precious metal prices, and the company's ability to control production costs.
Sales per employee in the market segment - Metal drag
Gold Resource Corp. is a precious metals mining company with assets in Mexico and the United States. Mining is a labor- and capital-intensive process. This metric reflects the average revenue per employee for the segment. It allows investors to assess how effectively GORO manages its mine workforce compared to other gold and silver mining companies.
Sales per employee for the market as a whole
Gold Resource (GORO) is a precious metals (gold and silver) mining company with assets in Mexico and the United States. In the mining industry, revenue is highly dependent on metal prices and mine efficiency. GORO's growth in revenue per employee reflects their ability to efficiently extract ore and control costs at their operating mines.
Short shares by company, segment and market as a whole
Shares shorted by company Gold Resource (GORO)
Gold Resource Corporation is a small gold and silver producer with assets in Mexico and the United States. Small (junior) miners face increased risks: operational problems at their few mines and reserve depletion. This chart reflects investor bets that the company will face difficulties in maintaining production or that its operating costs will be too high.
Shares shorted by market segment - Metal drag
Gold Resource (GORO) is a precious metals mining company focused on gold and silver, with assets in North America. This chart shows the total short position in the gold mining sector. It serves as a barometer of how much investors are betting on a decline in gold prices or an increase in mining costs, which would reduce the sector's profitability.
Shares shorted by the overall market
Gold Resource (GORO) is a gold miner. Gold is a safe haven, but mining stocks are not. When this general fear indicator rises, investors panic. They prefer "pure" gold (bullion) to stocks of *small, risky* miners like GORO, which carry operational risks.
RSI 14 indicator for a company, segment, and market as a whole
The company's RSI 14 indicator Gold Resource (GORO)
Gold Resource (GORO) is a gold and silver miner with assets in North America. These stocks represent a highly leveraged bet on the price of metal. This chart measures emotional extremes. It shows when the "gold rush" (overbought) or fears of operational problems (oversold) reach their peak.
RSI 14 Market Segment - Metal drag
Gold Resource (GORO) is a "baby" miner. They mine gold and silver in Mexico and the US. The "metal drag" (gold/silver) sector is fueled by hype. RSI_14_Seg measures the "temperature" of the entire sector. It's vital to understand whether GORO's growth is a product of their own or if the entire industry is simply overheated.
RSI 14 for the overall market
Gold Resource (GORO) is a gold miner. This chart often serves as a reverse indicator for it. Gold is a safe-haven asset. During periods of market euphoria, investors prefer risky stocks, and gold can lag. But during moments of panic and oversold conditions, investors flee stocks and invest in gold, which boosts its price and GORO's earnings.
Analyst consensus forecast for the company's share price, the segment, and the market as a whole
Analyst consensus stock price forecast GORO (Gold Resource)
Gold Resource Corp. is a precious metals mining company operating mines in Mexico and Nevada. This chart shows the average analyst forecast. Their targets are based on gold and silver production volumes, operating costs (AISC), and, of course, global precious metal prices.
The difference between the consensus estimate and the actual stock price GORO (Gold Resource)
Gold Resource (GORO) is a precious metals mining company operating mines in Mexico and Nevada. This chart measures the gap between the current price and the consensus target price. It shows how confident experts are in their operating performance and, more importantly, the future trajectory of gold and silver prices.
Analyst consensus forecast for stock prices by market segment - Metal drag
Gold Resource (GORO) is a small precious metals miner with assets in Mexico. It's a pure bet on gold/silver prices and operational efficiency. This chart displays analyst expectations for the precious metals sector, demonstrating whether experts believe small miners are profitable.
Analysts' consensus forecast for the overall market share price
Gold Resource (GORO) is a small precious metals miner. They produce gold and silver at their mines in Mexico and Nevada. This is a direct bet on metal prices. This chart shows the overall market sentiment. It allows you to see how analysts' general economic expectations correlate with the performance of "defensive" assets (mining stocks).
AKIMA index of the company, segment and market as a whole
AKiMA Company Index Gold Resource
Gold Resource (GORO) is a junior precious metals producer. Their business is gold and silver mining at mines in the US and Mexico. This chart is a summary indicator of their operating profitability. It reflects not only gold and silver prices but also their ability to manage costs (AISC), their exploration success, and their geopolitical risks in Mexico.
AKIMA Market Segment Index - Metal drag
Gold Resource Corporation is a gold and silver producer focused on North American mining. Unlike juniors, GORO already generates cash flow. This chart shows the average index for the precious metals sector. It allows investors to assess whether Gold Resource's operating efficiency is above or below average.
The AKIM Index for the overall market
Gold Resource is a gold and silver mining company in Mexico (Oaxaca). Its focus is on returning capital to shareholders. This chart, showing the market average, is important for context. It helps assess how GORO, which is dependent on metal prices and operational risks, compares to the overall macroeconomic picture.