by Adam Hamilton
The mid-tier gold miners in the sweet spot for stock-price upside potential have enjoyed a massive run since mid-March’s stock-panic lows. They’ve already more than doubled in the couple months since! Their just-released Q1’20 operational and financial results reveal whether these huge gains are righteous fundamentally, whether this uptrend is likely to persist, and how COVID-19 shutdowns are affecting gold miners.
Interestingly the leading mid-tier gold-stock ETF is the famous GDXJ VanEck Vectors Junior Gold Miners ETF. Despite its misleading name, GDXJ is overwhelmingly dominated by mid-tier gold miners. They produce 300k to 1m ounces of gold annually, between the smaller juniors and larger majors. The mid-tiers offer an excellent mix of sizable diversified production, output-growth potential, and smaller market caps.