With the prices of gold (GLD) and silver (SLV) off to the races to start 2012, let's check in on the miners' stocks to see if they are keeping pace. A popular exchange-traded fund among investors seeking exposure to mining stocks is the Market Vectors Gold Miners ETF (GDX), managed by Van Eck Global. As I mentioned in "How Well Do You Know Your Gold Miners ETF?" GDX is not just exposed to companies typically thought of as being appropriate for gold investors but also has exposure to the stocks of companies investors often target for exposure to silver. Silver Wheaton (SLW), Pan American Silver (PAAS), and Silver Standard Resources (SSRI) are three examples of this.
GDX closed 2011 at $51.43. As of January 31, 2012, it stood at $56.46, a 9.78% year-to-date (YTD) return. By comparison, GLD is up 11.40%, and SLV is up 19.82% through January 31. While GDX is lagging gold (IAU) and silver YTD, perhaps investors can take some comfort in the fact that this miners ETF is strongly outperforming the S&P 500's (SPY) 4.36% and the Dow Jones Industrial Average's (DIA) 3.40% YTD returns through January 31.
For investors interested in looking through each individual holding of GDX to see which stocks contributed the most toward returns or acted as the largest drags on the fund, I offer the following table. It includes each company's name, stock ticker, weighting in GDX, 2011 closing price, January 2012 closing price, and the YTD performance (ex-dividends):
Fund holdings as of 1/30/12 | |||||
YTD Performance through 1/31/12 | |||||
Holding | Ticker | % of Net Assets | 2011 Close | 1/31/12 Close | YTD Performance |
Barrick Gold | ABX | 15.92% | $45.25 | $49.26 | 8.862% |
Goldcorp | GG | 12.82% | $44.25 | $48.39 | 9.356% |
Newmont Mining | NEM | 9.80% | $60.01 | $61.48 | 2.450% |
AngloGold Ashanti | AU | 5.70% | $42.45 | $45.80 | 7.892% |
Yamana Gold | AUY | 4.99% | $14.69 | $17.27 | 17.563% |
Silver Wheaton | SLW | 4.94% | $28.96 | $35.61 | 22.963% |
Cia De Minas Buenaventura Sa | BVN | 4.93% | $38.34 | $42.90 | 11.894% |
Randgold Resources | GOLD | 4.74% | $102.10 | $114.41 | 12.057% |
Gold Fields | GFI | 4.65% | $15.25 | $16.43 | 7.738% |
Kinross Gold | KGC | 4.46% | $11.40 | $11.29 | -0.965% |
Eldorado Gold | EGO | 3.86% | $13.71 | $15.11 | 10.212% |
Agnico-Eagle Mines | AEM | 3.02% | $36.32 | $37.40 | 2.974% |
Iamgold | IAG | 2.93% | $15.85 | $16.74 | 5.615% |
New Gold | NGD | 2.46% | $10.08 | $11.71 | 16.171% |
Harmony Gold Mining | HMY | 2.45% | $11.64 | $12.06 | 3.608% |
Royal Gold | RGLD | 1.96% | $67.43 | $76.12 | 12.887% |
Allied Nevada Gold | ANV | 1.57% | $30.28 | $35.93 | 18.659% |
Aurico Gold | AUQ | 1.24% | $8.01 | $9.45 | 17.978% |
Coeur D'Alene Mines | CDE | 1.20% | $24.14 | $27.66 | 14.582% |
Pan American Silver | PAAS | 1.13% | $21.81 | $22.88 | 4.906% |
First Majestic Silver | AG | 1.00% | $16.84 | $20.67 | 22.743% |
Hecla Mining | HL | 0.70% | $5.23 | $5.26 | 0.574% |
Silver Standard Resources | SSRI | 0.66% | $13.82 | $17.25 | 24.819% |
Nevsun Resources | NSU | 0.63% | $5.53 | $6.56 | 18.626% |
Minefinders Corp | MFN | 0.54% | $10.60 | $14.18 | 33.774% |
Aurizon Mines | AZK | 0.42% | $4.93 | $5.53 | 12.170% |
Seabridge Gold | SA | 0.41% | $16.11 | $20.17 | 25.202% |
Great Basin Gold | GBG | 0.29% | $0.911 | $1.26 | 38.310% |
Golden Star Resources | GSS | 0.26% | $1.65 | $2.16 | 30.909% |
Tanzanian Royalty Exploration | TRX | 0.15% | $2.40 | $3.31 | 37.917% |
Vista Gold | VGZ | 0.13% | $3.07 | $3.77 | 22.801% |
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