GDX
VanEck Vectors Gold Miners ETFNYSEARCA
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  • Mar. 5, 2013, 10:15 AM

    Global M&A in the mining sector fell by a third last year to the lowest level since 2005, with nearly half of 2012’s $110B tally due to the announced Glencore-Xstrata merger, according to a PriceWaterhouse study. The data comes as little surprise to miners at this week's annual PDAC conference: "Every company coming here is saying, we don’t have the money."

    | Mar. 5, 2013, 10:15 AM
  • Feb. 1, 2013, 5:58 PM

    Global gold production has reached record highs in recent years, but NBF analysts predict a "production cliff" - too few large deposits discovered to sustain current production rates - ahead in which senior gold miners will begin to undergo a sharp production decline. In such an environment, M&A involving projects with low capital intensity, favorable logistics and strong returns should be a key driver.

    | Feb. 1, 2013, 5:58 PM | 8 Comments
  • Aug. 30, 2011, 4:18 PM

    AuRico's (AUQ) purchase of Northgate Minerals at 14.7X EBITDA is the cheapest valuation for a gold miner worth more than $1B since 2004. Pricing of gold miners "has moved to an extreme, and one of the things that should actually correct this ... is M&A," says a fund manager.

    | Aug. 30, 2011, 4:18 PM
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