Gold Miners’ Q4’20 Fundamentals

by Adam Hamilton
Zeal LLC

The gold miners’ stocks have suffered an extended correction in recent months, leaving them deeply out of favor. Yet their underlying fundamentals remain incredibly strong, thanks to continuing high prevailing gold prices. These companies’ recently-released Q4’20 results revealed they are thriving, generating massive revenues, earnings, and operating cash flows. Thus their stock prices need to mean revert way higher.

The leading and dominant gold-stock benchmark and trading vehicle today is the GDX VanEck Vectors Gold Miners ETF. Launched way back in May 2006, GDX’s first-mover advantage has grown into an insurmountable lead. With $14.2b of net assets this week, GDX commands a staggering 32.0x more capital than its next-biggest 1x-long major-gold-miners-ETF competitor! GDX is really the only game in town.

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