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MDSMF vs. ETF Alternatives
Tuesday, Aug 136:40 PMGold miners will "struggle to make ends meet," Citi says
Tuesday, Aug 136:40 PM| 4 Comments
- 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.