iShares MSCI Global Gold Miners ETF (RING) - NYSEARCA
  • Sep. 24, 2013, 3:04 PM
    • Not surprisingly, a focus on cost controls and cash flow are familiar pledges from the gold miners at this year's Denver Gold Forum (webcasts here).
    • Speaking a couple of hours ago, Agnico-Eagle Mines (AEM -0.4%) laid out plans to cut costs by $50M this year and $200M in 2014, while limiting exploration costs to just $50M. AuRico Gold (AUQ -0.1%) and IAMGOLD (IAG +0.5%) offered similar outlines yesterday, as did Barrick Gold earlier today.
    • The question now, writes Ben Levisohn in Barron's, is whether they can deliver.
    • Gold miner ETFs: GDX, GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING.
    | Sep. 24, 2013, 3:04 PM | 17 Comments
  • Sep. 20, 2013, 3:57 PM
    • Miners (GDX -5.2%) are one of the day's worst performing stock sectors amid significant weakness in precious metals, as gold settled 2.7% lower at $1332.50/oz. - but that's still a 1.8% gain for the week.
    • Goldman Sachs initiated coverage of several gold stocks earlier this morning:
    • Started with a Buy rating: Yamana Gold (AUY -6%), Goldcorp (GG -3.6%).
    • Initiated at Neutral: Barrick Gold (ABX -3.8%), Newmont Mining (NEM -4.9%), Agnico-Eagle Mines (AEM -6.4%), Royal Gold (RGLD -7%), New Gold (NGD -7.3%).
    • Started at Sell: Kinross Gold (KGC -6.4%), Eldorado Gold (EGO -7.9%), IAMGOLD (IAG -11.5%).
    • Also: Silver Wheaton (SLW -5.3%) was started at Buy, Pan Am Silver (PAAS -5.3%) with a Neutral.
    • Other ETFs: GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING.
    | Sep. 20, 2013, 3:57 PM | 3 Comments
  • Sep. 19, 2013, 1:12 PM
    • While headlines show a near 5% rally for gold and almost 8% for silver, those ETFS which track the metals - (GLD +0.4%) and (SLV +0.2%) - have barely budged. ETF investors aren't missing out. Instead, it's the metals' official close of trade time - 1:30 ET - meaning yesterday's massive post-FOMC (2 ET) rally will be reflected in today's price change. Both ETFs - where trading doesn't end until 4 ET - soared yesterday.
    • Meanwhile, the non-taper has previously bullish Michael Dudas remaining so, but Commerzbank is more cautious: "Rising equity markets could mean that investors prefer to put their money into equities rather than gold," says the team, which would like to see a trend of inflows into ETFS before getting too excited (money exited again yesterday).
    • The miners are giving back some of yesterday's big gains. Up 9% on Wednesday, the GDX is off 2.4% today. The triple-leveraged bull ETF (NUGT -7.5%) gives back some of yesterday's 27% gain, while the triple-leveraged bear ETF (DUST +7.8%) recoups some of yesterday's 27% swoon.
    • PM ETFs:  GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI, SLV, SIVR, AGQ, DBS, USV, ZSL, USLV, DSLV, SLVO.
    • Gold miner ETFs: GDX, GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING.
    • Silver miners: SIL, SLVP, SILJ.
    | Sep. 19, 2013, 1:12 PM | 6 Comments
  • Sep. 14, 2013, 8:25 AM
    • Despite the pain - or perhaps because of it - gold equities are luring investors back, posting their biggest two-month net inflow in two years during July and August.
    • It could partly owe to a recovering gold price (at least until this week), but also because miners have taken hefty writedowns, slimmed down projects and put others on hold to save cash after years of chasing volume at all costs.
    • Investors have been looking to get exposure to gold through the actual miners themselves after the gold price crash in April, an analyst says.
    • Gold miner ETFs: GDX, GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING.
    • Meanwhile, gold ETFs are still seeing outflows: GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI.
    | Sep. 14, 2013, 8:25 AM | 4 Comments
  • Sep. 10, 2013, 12:02 PM
    • The Market Vectors Gold Miners ETF will continue to follow the NYSE Arca Gold Miners Index, which is updating to include international companies while now excluding firms with market caps below $750 million.
    • GDX, the largest gold miner fund and second oldest, will see these index changes on September 20th.
    • Related ETFs: GDXJ, GLDX, PSAU, GGGG, RING, NUGT, DUST
    | Sep. 10, 2013, 12:02 PM | 2 Comments
  • Aug. 28, 2013, 1:42 PM
    • Gold's had a nice run, but any further move higher in price should be capped by rising real interest rates, says Nomura. Previous research has shown a nearly one-to-one negative relationship between the direction in real interest rates and the price of gold. Only a "material change" to U.S. growth expectations or what is thought to be the path of QE tapering could reignite gold's bull market, says the team.
    • Nomura also notes the deteriorating capital account situation in emerging markets. Money used to defend the currency can't be used to purchase precious metals.
    • Bankruptcy lawyer humor of the day: "If you're looking for any junior mining CEOs, check my reception area."
    • Higher earlier, gold is flat on the session at $1,420 per ounce.
    • GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDIGDX, GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING.
    | Aug. 28, 2013, 1:42 PM | 6 Comments
  • Aug. 27, 2013, 5:15 PM
    | Aug. 27, 2013, 5:15 PM
  • Aug. 26, 2013, 4:51 AM
    | Aug. 26, 2013, 4:51 AM | 2 Comments
  • Aug. 23, 2013, 4:26 AM
    • The recent increase in the price of gold, which has climbed by over 14% since dropping to almost $1,200 an ounce in June, has a strong basis and is set to continue, analysts believe.
    • Some of the reasons for bullion's rise include heavy demand in Asia - and particularly India, where the insatiable appetite for gold is doing nothing to help the country's current account deficit - turmoil in emerging markets, high-priced U.S. equities and the under-performance of commodities in general.
    • Another factor is a possible future constraint on supply as miners cut back on projects because gold has become more expensive to produce than it's worth.
    • Gold futures are now +0.3% at $1,375.50
    • ETFs: GDX, GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING, GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI
    | Aug. 23, 2013, 4:26 AM | 4 Comments
  • Aug. 21, 2013, 8:21 AM
    • Takeovers and asset purchases by producers based in China and Hong Kong rose to a record $2.24B this year amid the steep decline in gold prices and mine values, according to data compiled by Bloomberg.
    • The busy Chinese activity comes as shareholders in Western-based miners warn executives to chill their M&A activity. Chinese miners - often with lower production costs - are less constrained and have continually perky domestic consumption to satisfy.
    • Next possible targets are Papillon Resources (PAPQF.OB), Iamgold (IAG), Amara Mining, and Perseus Mining (PMNXF.PK), according to Aussie gold analyst David Brennan. China's largest producer Zijin Mining has previously said it has its eye on three Australian mines Barrick (ABX) has for sale.
    • China's appetite for gold is virtually insatiable, says Jon Price of Phoenix Gold (PGLD.PK). "They have a large bank account with which to work, and a lot of U.S. dollars that they perhaps would rather see turned into physical assets."
    • Gold mining ETFs: GDX, GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING.
    | Aug. 21, 2013, 8:21 AM | 3 Comments
  • Aug. 16, 2013, 3:31 PM
    • A new report from Sterne Agee says the letup in selling of gold and silver should be good for shares in precious metals miners, providing the latest example of the recent shift in analyst sentiment.
    • J.P. Morgan, meanwhile, expects gold stocks to rally through the Denver Gold Forum from Sept. 22-25, which given other positives for the metal could spark stronger prices in the run-up to the show.
    • Sterne Agee recommends Newmont Mining (NEM), Coeur d'Alene (CDE) and Gold Resource (GORO); J.P. Morgan prefers NEM, Goldcorp (GG), Eldorado (EGO) and NewGold (NGD).
    • ETFs: GDX, GDXJ, SIL, GLDX, PSAU, NUGT, DUST, GGGG, RING.
    | Aug. 16, 2013, 3:31 PM | 2 Comments
  • Aug. 15, 2013, 1:43 PM
    | Aug. 15, 2013, 1:43 PM | 10 Comments
  • Aug. 15, 2013, 7:12 AM
    • The largest investor in the SPDR Gold Trust (GLD), Paulson & Co. cut its holdings by more than half to 10.2M shares in the quarter ended June 30. It's the first cut since 2011 and came "due to a reduced need for hedging," says the firm in an emailed response to questions.
    • Funds run for George Soros and Daniel Loeb sold their entire GLD stakes in Q2.
    • As for gold miners (GDX), Paulson sold its call options on Barrick Gold (ABX), but maintained stakes in Agnico Eagle (AEM), Allied Nevada (ANV), and Iamgold (IAG). Holdings in Freeport-McMoRan (FCX) were boosted to 15.5M shares from 9M.
    • Sources: 13F, Previous 13F
    • Related ETFs: IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI, GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING.
    | Aug. 15, 2013, 7:12 AM | 10 Comments
  • Aug. 14, 2013, 1:04 PM
    | Aug. 14, 2013, 1:04 PM | 5 Comments
  • Aug. 14, 2013, 11:39 AM
    • New Baupost positions added in Q2 include a 3.255M share stake in Yamana Gold (AUY +4.1%), 2.1M shares of Kinross Gold (KGC +6.1%), and 155.7K shares of Pretium Resources (PVG +3.8%).
    • Source: 13F, previous 13F.
    • GDX +4.9%, SIL +3.5%.
    • Baupost's 13F discloses holdings of just $4B vs. total AUM of $26B, so there may be more going on, notes ValueWalk's Tabinda Hussain.
    • Other PM mining ETFs: GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING, SLVP, SILJ.
    | Aug. 14, 2013, 11:39 AM | 6 Comments
  • Aug. 13, 2013, 6:40 PM
    • Even as gold mining stocks are poised for a third straight year of losses, Citi analysts say it could get worse, with companies likely to "struggle to make ends meet" after failing to pass on benefits from the past four years’ heyday in gold to shareholders.
    • Citi's gloomy view is in contrast to Marc "Dr. Doom" Faber's belief that gold miners is the one sector that should appeal to investors wanting to buy low and sell high; he likes Newmont Mining (NEM), Barrick Gold (ABX) and IAMGOLD (IAG).
    • Citi recommends investors play it safe with companies that can adapt to a lower gold-price environment, such as Buy-rated ABX and Medusa Mining (MDSMF.PK); it tags Sell ratings on Harmony Gold (HMY), African Barrick (ABGLF.PK) and Polymetal (POYYF.OB).
    • Gold mining ETFs: GDX, GDXJ, NUGT, DUST, GLDX, PSAU, GGGG, RING.
    | Aug. 13, 2013, 6:40 PM | 4 Comments
RING Description
The iShares MSCI Global Gold Miners Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI ACWI Select Gold Miners Investable Market Index.
See more details on sponsor's website
Industry: Gold
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub