Unsurprisingly, the same can be said for gold stocks. Indeed, an article published yesterday in
Responsibility for the rally is being placed tension in
Of course, for investors the question is how to benefit from gold miners’ good fortune. One way to do so is by investing in the Market Vectors Gold Miners ETF (ARCA: GDX), which “seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the NYSE Gold Miners Index.”
Here’s a brief look at its top five holdings as of
1. Goldcorp (TSX: G,NYSE:GG)
The company recently reported its Q2 financial results, commenting that it sold 639,500 ounces of gold on production of 648,700 ounces. Meanwhile, its revenue for the quarter came to
Like Goldcorp, Barrick, whose goal is to become the world’s best gold mining company, has projects spread across a variety of jurisdictions. Its cornerstone mines are Cortez and Goldstrike in
Barrick produced 1,485,000 ounces of gold and 67 million pounds of copper in 2014's second quarter. Its revenue came to
Newmont, which has operations in seven countries, is primarily a gold producer. It is the only gold company that’s included in the S&P 500 (INDEXSP: .INX) and Fortune 500.
During Q2, the company produced 1.2 million ounces of attributable gold and 20,000 tonnes of attributable copper, achieving adjusted net income of
In addition, Newmont recently announced plans to invest in developing the Suriname-based Merian gold mine. Pending receipt of a Right of Exploitation from the country’s government, it should start operating in late 2016.
The company’s Q2 results are due out on
During Q2, it earned 64,734 gold equivalent ounces, achieving adjusted net income of
More to come
Stay tuned for an overview of the top five holdings of the
Securities Disclosure: I,
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OCTOBER 30, 2014
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