If you bought VanEck Gold Miners ETF (NYSEARCA:GDX) because you wanted leveraged exposure to a gold rally, the past decade delivered a quiet insult: a nearly identical fund charging less beat it, and physical gold beat it too.
The choice between the VanEck Gold Miners ETF (NYSEARCA:GDX) and the VanEck Junior Gold Miners ETF (NYSEARCA:GDXJ) looks cosmetic until you open the hood.
I reiterate my buy rating on the VanEck Gold Miners ETF, supported by strong fundamentals and attractive valuation. GDX's free cash flow/EV yield is at record highs, and its forward P/E and EV/EBITDA multiples are at five-year lows. A re-rating to 6x EBITDA implies a 20% upside, with technical and seasonal trends potentially acting as catalysts.
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TJD Thomas John Drogan PR Inc.IPAL SECURITIES Inc. | 28,770 | $1.74M | $2.11M | $364,848.66 | 20.95% |
| TMB Timothy M. Bidwell Hazlett, BURT & WATSON Inc. | 18 | $827.46 | $1,317.78 | $490.32 | 59.26% |
| NA Nelson Arrington V. M. MANNING & CO. Inc. | 2,730 | $142,123.8 | $194,539.8 | $52,416 | 36.88% |
| CE Curtis Ellergodt Rothschild Investment LLC | 1,000 | $32,460 | $73,210 | $40,750 | 125.54% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 160,407 | $5.04M | $11.72M | $6.68M | 132.51% |
| ARCA Exchange | US Country |
The company in discussion is a specialized investment fund focusing on the gold mining sector. It dedicates a substantial portion of its assets, at least 80%, to invest in common stocks and depositary receipts of companies engaged in the gold mining industry. This investment strategy aims to leverage the growth and potential profitability within the mining for gold and silver. The fund adheres to a modified market-capitalization weighted index, which prioritizes publicly traded companies active in the gold and silver mining sectors. Given its specialized investment focus, the fund operates as a non-diversified entity, concentrating its investments in the niche market of gold and silver mining companies.
The fund offers a focused investment product characterized by two main components: