The investors’ preference towards mining stocks showed a mixed trend with some of them posting losses in the given period, while other maintaining gains. But the overall sentiment was bearish compare to that in gold. However, with gold prices leaving up the bull-run, the investors’ confidence in the gold mining stocks is believed to return soon.
I believe it hinges upon how weak gold is during the upcoming summer season. The gold stocks sometimes forecast gold prices, and in this case it seems to be the widely-recognized summer weakness that's staying hands. If gold doesn't do much dropping this month and next, there could be a nice catch-up rally in major gold stocks.
If gold does drop, of course, the expectations for summer weakness would be fulfilled. Then, the gold stock would likely be considered on their merits.