iShares MSCI Global Gold Miners ETF (NASDAQ: RING)

에 대한 최신 뉴스 iShares MSCI Global Gold Miners ETF (NASDAQ:RING)

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The Fund seeks to track the investment results of the MSCI ACWI Select Gold Miners Investable Market Index (IMI) (the Underlying Index), which has been developed by MSCI Inc. (the Index Provider or MSCI) to target a minimum of 30 companies in developed and emerging markets that are involved in the business of gold mining. MSCI begins with the MSCI ACWI Investable Market Index (IMI), and then selects securities of companies that are primarily focused on the extraction and production of gold, and state as a general policy that they do not hedge their exposure to gold prices as long as no indication of hedging activities is found in their annual reports or such hedging activities are identified but represent less than 10% of the business. If the number of constituents from the selection universe is less than 30, MSCI will include additional securities from the selection universe according to a criteria based on a company's hedging activities.

Newmont Corp.

Agnico Eagle Mines Ltd

Anglogold Ashanti Uk Ltd

Zijin Mining Group Co., Ltd., Class H

iShares MSCI Global Gold Miners ETF

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iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

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4월을 마무리하면서, 이번달에 가장 성과가 뛰어난 섹터와 산업 교환 펀드들을 순위화 할 시간이다.



주가를 더 넓은 시각에서 보면, S&amp;P 500 지수는 SPDR S&amp;P 500 ETF 트러스트(NYSE:SPY)로 표현되는 4월에 약 3% 하락하여 4월을 마감했다. 이로써 지난 5개월간 상승 기간이 끝난 셈이다.  



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월가에 소나기 내린 4월: 우울한 시장에 광업 및 유틸리티 부문이 상승하며 부상

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Ring Energy Inc

RingCentral Inc

RINGKJOEBING LADBNK U/ADR by RINGKJOEBING LANDBOBANK AS

Ringkjoebing Landbobank AS

Despite the stronger-than-expected increase in non-farm payrolls last month, the Bureau of Labor Statistics&#8217; June Employment Situation report indicated an overall cooling trend <a href="https://www.benzinga.com/markets/equities/24/07/39646053/mixed-picture-for-fed-june-payrolls-rise-more-than-expected-unemployment-rate-ticks-up-wage-grow">in the U.S. labor market. </a>
Significant downward revisions of 111,000 fewer payrolls in the previous two reports, an unexpected rise in the unemployment rate, and the anticipated slowdown in wage growth are prompting most economists to believe the Federal Reserve may be more confident about announcing an interest rate cut, with September being the nearest option. 
Investors seem to share this view, with the probability of a September rate cut rising from 72% to 76% after the jobs report&#8217;s release, and the expected cuts increasing from 52 to 55 basis points by the end of the year.
As a result, ETFs tracking interest-rate sensitive industries – such as the iShares MSCI Global Gold Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>) and the iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>) – outperformed on Friday, up 2.7% and 1% respectively.
<h3 class="wp-block-heading">June Jobs Report: Key Statistics</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th></th>
<th>June 2024</th>
<th>Consensus</th>
<th>May 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>Nonfarm payrolls</td>
<td>206,000</td>
<td>189,000</td>
<td>218,000 (downwardly revised from 272,000)</td>
</tr>
<tr>
<td> goverment payrolls</td>
<td>70,000</td>
<td></td>
<td>25,000</td>
</tr>
<tr>
<td> private payrolls</td>
<td>136,000</td>
<td></td>
<td>193,000</td>
</tr>
<tr>
<td>Unemployment rate</td>
<td>4.1%</td>
<td>4%</td>
<td>4%</td>
</tr>
<tr>
<td>Average hourly earnings (m/m)</td>
<td>0.3%</td>
<td>0.3%</td>
<td>0.4%</td>
</tr>
<tr>
<td>Average hourly earnings (y/y)</td>
<td>3.9%</td>
<td>3.9%</td>
<td>4.1%</td>
</tr>
</tbody>
</table>
</figure>
Analyst Perspective
Joe Brusuelas, chief economist at RSM US LLP, noted that while demand for labor remains solid, it is slowing. &#8220;Fears of a wage spiral which would result in a resurgence of inflation can finally be put to rest,&#8221; Brusuelas said, as the three-month average annualized pace of average hourly earnings has eased to 3.5%. 
He emphasized that the primary takeaway from the June employment data is its consistency with economic normalization, aligning with other growth and inflation data pointing towards an easing of the Federal Reserve&#8217;s restrictive policy rate by September.
He warned that the Fed must avoid talking itself into a corner that could result in falling behind the curve, as it did during the first year of the pandemic. &#8220;As the economy cools, the Fed needs to relax its too restrictive policy rate to avoid an unnecessary termination of the business cycle.&#8221;
James E. Thorne, chief market strategist at Wellington Altus, observed the substantial net revisions of 111,000 jobs from the prior two months, combined with the modest increase of 206,000 jobs in the most recent period, indicating a volatile and uncertain labor market. 
&#8220;The government&#8217;s significant increase of 70,000 jobs raises questions about the sustainability of such growth,&#8221; Thorne said, adding that the impact of extreme levels of government spending should be considered. 
He criticized the Federal Reserve&#8217;s potential delayed response, noting, &#8220;A mere 25 basis points cut will not be sufficient to reverse the downward momentum in the private sector. The Fed is late, and the boom/bust cycle in rates continues.&#8221;
Bill Adams, chief economist for Comerica Bank, remarked that the unemployment rate in June rose to its highest since late 2021, despite good monthly job growth offset by downward revisions to March and April. 
&#8220;The current data suggests the economy is growing, but its pace has cooled considerably over the last year,&#8221; Adams said, aligning this with a gradual rise in the unemployment rate. 
The economist highlighted that the uptick in the unemployment rate was due to an increase in labor force participation, with prime-age participation reaching its highest since 2002. &#8220;The job market looks considerably cooler in the June report than in May, and the unemployment rate at 4.1% is above where the median Fed policymaker projected it at year-end,&#8221; he explained. 
Adams suggested that while the labor market isn't soft enough to justify an interest rate cut at this month's meeting, the cooling trend is evident, and a rate cut could come in September if inflation holds.
Quincy Krosby, chief global strategist for LPL Financial, highlighted the market&#8217;s immediate reaction to the 4.1% unemployment rate, noting that both the policy-sensitive 2-year and 10-year Treasury yields edged lower. 
She raised increasing evidence that the Fed will need to initiate a rate easing cycle to support its maximum employment mandate. &#8220;The cooling in the labor market, despite the higher than consensus estimate for the headline payroll print, portends a broader economic downturn,&#8221; Krosby said.
She warned that the consumer&#8217;s growing concern about job security could lead to a frigid summer for the economy, especially with the latest ISM Manufacturing and Service Sector PMI data indicating a broader economic contraction. 
&#8220;Today&#8217;s report should have Fed officials troubled that the desired cooling in the economy could transition into a frigid summer,&#8221; she concluded.
Read now:
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<li><a href="https://www.benzinga.com/news/24/07/39640147/keir-starmer-to-become-uk-prime-minister-as-labour-wins-big-over-rishi-sunaks-conservatives-mohamed">Keir Starmer To Become UK Prime Minister As Labour Wins Big Over Rishi Sunak&#8217;s Conservatives — Mohamed El-Erian Shares Two Key Takeaways</a></li>
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Fed Needs To Frontload Interest Rate Cuts, Say 4 Economists: 'Labor Market's Cooling Trend Is Quite Clear'

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CORRECTION: RingCentral Ticker Is 'RNG'

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CORRECTION: RingCentral Ticker Is RNG

As April comes to a close, it&#8217;s time to compile the rankings for the top-performing sector and industry exchange-traded <a href="https://www.benzinga.com/etfs">funds of the month.</a>
Taking a broader look at the stock market, the S&amp;P 500 Index, represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), finished April on a downturn, declining by approximately 3%. This marks the end of a five-month streak of gains.
Similarly, the tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), experienced a 3.5% decline.
Among large-cap indices, blue-chip stocks showed slight underperformance, with the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) slipping by 4.5%.
Small-cap stocks, represented by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), plummeted by over 6%, marking their worst performance since October 2023.
Overall, it has been a challenging month for the stock market, primarily due to inflation surprises surpassing expectations. This has led to a recalibration of market expectations regarding potential Federal Reserve rate cuts.
Additionally, complex global geopolitical tensions have emerged, notably between Israel and Iran, alongside the ongoing issue in the Gaza Strip.
May is anticipated to start with a crucial event as investors await the Federal Reserve Open Market Committee <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">(FOMC) meeting on Wednesday. </a>
While no interest rate changes are expected, all eyes will be on Fed Chair Jerome Powell&#8216;s remarks to assess the Fed&#8217;s stance in response to recent inflation surprises.
Read also: <a href="https://www.benzinga.com/general/macro-notification/24/04/38491988/federal-reserve-meeting-preview-high-interest-rates-need-more-time-to-work-bank-of-ame">Federal Reserve Meeting Preview: High Interest Rates &#8216;Need More Time To Work,&#8217; Bank of America Says</a>
<h2 class="wp-block-heading">Performance Of Sector ETFs In April 2024</h2>
At the sector level, only the utilities sector managed to avoid losses for the month, rising by 2.1%.
The largest stock contributors to the utilities&#8217; performance in April are NextEra Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), The Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) and NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) which showed monthly gains between 4% and 8%. 
Energy stocks remained broadly stable, while the other nine S&amp;P 500&#8217;s sectors showcased losses.
Real estate experienced the worst performance, down by over 7%, dragged down by its high sensitivity to interest rates, as Treasury yields increase across the board during the month. 
Following real estate, the technology and healthcare sectors also showed poor performance in April.
<h4 class="wp-block-heading">April&#8217;s Best And Worst Sector ETFs: Utilities Lead, Real Estate Lags</h4>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>April 2024 performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>2.06%</td>
</tr>
<tr>
<td>Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>0.01%</td>
</tr>
<tr>
<td>Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>-1.11%</td>
</tr>
<tr>
<td>Industrials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>-3.23%</td>
</tr>
<tr>
<td>Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>-3.68%</td>
</tr>
<tr>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>-3.85%</td>
</tr>
<tr>
<td>Materials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>-4.13%</td>
</tr>
<tr>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>-4.24%</td>
</tr>
<tr>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>-4.78%</td>
</tr>
<tr>
<td>Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>-4.85%</td>
</tr>
<tr>
<td>Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>-7.83%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of Apr. 30, 2024 2:50 p.m. EDT</figcaption></figure>
<h2 class="wp-block-heading">Performance Of Industry ETFs In April 2024</h2>
Based on the industry ETF list provided by BlackRock Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) iShares, only five out of the 25 industries managed to report gains in April. Among them, miners did well across the board, with silver, copper, and gold mining stocks reporting robust gains. 
Standout contributors to the mining industry&#8217;s outperformance in April were Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>), up over 20%, Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), up 14%, Anglo American plc (OTCPK: AAUKF), up over 40%
Energy producers also managed to end the month in the green.
On the bottom side of the industry rankings, homebuilders, transportation, biotech stocks, digital infrastructure and real estate all report losses between 7% and 9.6% in April.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>ETF Name</th>
<th>Performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>iShares MSCI Global Silver and Metals Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLVP#NYSE">SLVP</a>)</td>
<td>12.11%</td>
</tr>
<tr>
<td>iShares Copper and Metals Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>)</td>
<td>9.50%</td>
</tr>
<tr>
<td>iShares MSCI Global Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>)</td>
<td>5.93%</td>
</tr>
<tr>
<td>iShares MSCI Global Metals &amp; Mining Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>)</td>
<td>2.81%</td>
</tr>
<tr>
<td>iShares MSCI Global Energy Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FILL#NYSE">FILL</a>)</td>
<td>2.46%</td>
</tr>
<tr>
<td>iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>)</td>
<td>-1.16%</td>
</tr>
<tr>
<td>iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEO#NYSE">IEO</a>)</td>
<td>-1.37%</td>
</tr>
<tr>
<td>iShares Residential and Multisector Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>)</td>
<td>-1.66%</td>
</tr>
<tr>
<td>iShares Lithium Miners and Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ILIT#NYSE">ILIT</a>)</td>
<td>-3.30%</td>
</tr>
<tr>
<td>iShares U.S. Broker-Dealers &amp; Securities Exchange ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>)</td>
<td>-3.74%</td>
</tr>
<tr>
<td>iShares U.S. Financial Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>)</td>
<td>-3.88%</td>
</tr>
<tr>
<td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>-4.37%</td>
</tr>
<tr>
<td>iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>)</td>
<td>-4.40%</td>
</tr>
<tr>
<td>iShares U.S. Healthcare Providers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHF#NYSE">IHF</a>)</td>
<td>-4.79%</td>
</tr>
<tr>
<td>iShares U.S. Insurance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAK#NYSE">IAK</a>)</td>
<td>-4.85%</td>
</tr>
<tr>
<td>iShares U.S. Regional Banks ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>)</td>
<td>-5.11%</td>
</tr>
<tr>
<td>iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-5.38%</td>
</tr>
<tr>
<td>iShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>)</td>
<td>-5.45%</td>
</tr>
<tr>
<td>iShares Mortgage Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REM#NYSE">REM</a>)</td>
<td>-5.57%</td>
</tr>
<tr>
<td>iShares U.S. Medical Devices ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHI#NYSE">IHI</a>)</td>
<td>-5.75%</td>
</tr>
<tr>
<td>iShares Global Timber &amp; Forestry ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOOD#NYSE">WOOD</a>)</td>
<td>-6.20%</td>
</tr>
<tr>
<td>iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>)</td>
<td>-6.76%</td>
</tr>
<tr>
<td>iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>)</td>
<td>-7.12%</td>
</tr>
<tr>
<td>iShares Biotechnology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBB#NYSE">IBB</a>)</td>
<td>-7.23%</td>
</tr>
<tr>
<td>iShares U.S. Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYT#NYSE">IYT</a>)</td>
<td>-8.34%</td>
</tr>
<tr>
<td>iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>)</td>
<td>-9.60%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of Apr. 30, 2024 3:15 p.m. EDT</figcaption></figure>
Now read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38497224/ai-data-centers-drive-electricity-demand-goldman-sachs-picks-16-stocks-to-play-the-">AI Data Centers Drive Electricity Demand: Goldman Sachs Picks 16 Stocks To Play The Trend</a>
Image generated using artificial intelligence via Midjourney.

iShares S&P Global Timber & Forestry Index Fund

WOOD

April Showers On Wall Street:  Miners, Utilities Emerge As Bright Spots In Gloomy Market

Wall Street is on track for its worst month in 2024 as growing inflation fears and escalating geopolitical tensions weigh on investors&#39; sentiment. With just a day left in the month, the S&amp;P 500 dropped 2.7%, potentially its sharpest decline since September 2023. The Nasdaq Composite experienced a 2.4% decrease, setting it on course for its worst performance since October 2023. Meanwhile, the Dow Jones Industrial Average declined 3.8%, marking its most significant monthly drop since February 2023, per Dow Jones Market Data. 
The decline has been broad-based. Still, a few corners of the broad market, especially mining, have gained. The uncertainty around Fed rate hikes and the current geopolitical situation has brought back the allure of metals, boosting their demand. In particular, two precious metals &mdash; gold and silver &mdash; have been rising on safe-haven demand as both are considered as a store of wealth for investors. They are often used as a means of preserving wealth during times of financial and political uncertainty and usually do well when other asset classes struggle. Factors such as the forthcoming U.S. presidential election, the ongoing Russia-Ukraine war and the Israel-Hamas conflict enhance both metals&#39; attractiveness to investors. 
Copper and aluminum, the most used industrial metals, have also gained substantially this month on tightening supply conditions and a resurgence in manufacturing activity in the world&#39;s largest economies like the United States and China leading to a surge in demand. The Western ban on Russian metals, hopes of rate cuts, and diversification of holdings of central banks also uplifted the sentiments. 
Acting as leveraged plays on underlying metal prices, metal miners tend to experience huge gains than their bullion cousins in a rising metal market. We have highlighted the five best ETFs from these metal mining sectors. These include Global X Silver Miners ETF (ARCA:SIL), iShares Copper and Metals Mining ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/icop#NASDAQ">ICOP</a>), USCF Aluminum Strategy Fund (ARCA:ALUM), Sprott Nickel Miners ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nikl#NASDAQ">NIKL</a>) and iShares MSCI Global Gold Miners ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ring#NASDAQ">RING</a>). 
Let&#39;s dig into the details of these ETFs: 
Global X Silver Miners ETF (ETF:SIL) &ndash; Up 16.6% 
Global X Silver Miners ETF provides investors access to a broad range of silver mining companies by tracking the Solactive Global Silver Miners Total Return Index. It holds 32 stocks in its basket with double-digit concentration on the top two firms. Global X Silver Miners ETF has managed assets worth $1 billion and trades in a good volume of about 664,000 shares a day. It charges 65 bps in annual fees. 
iShares Copper and Metals Mining ETF (ICOP) &ndash; Up 13.5% 
iShares Copper and Metals Mining ETF offers exposure to 35 global copper and metal ore miners who may benefit from increased demand for this limited resource. It follows the STOXX Global Copper and Metals Mining Index, charging investors 47 bps in annual fees. iShares Copper and Metals Mining ETF has gathered only $15.8 million in its asset base and trades in a lower average volume of 19,000 shares a day. 
USCF Aluminum Strategy Fund (ETF:ALUM) &ndash; Up 11.1% 
USCF Aluminum Strategy Fund is an actively managed fund that seeks to provide exposure to the price of aluminum through aluminum-based derivatives investments. The fund primarily invests in aluminum futures. However, in order to gain the desired economic exposure, it may also invest in cash-settled options, forward contracts, options on futures contracts, and other options. USCF Aluminum Strategy Fund has accumulated $2.5 million in its asset base and charges 65 bps in annual fees. It trades in a paltry average daily volume of under 100 shares. 
Sprott Nickel Miners ETF (NIKL) &ndash; Up 11.1% 
Sprott Nickel Miners ETF provides exposure to the global securities in the nickel industry, including nickel producers, developers and explorers, by tracking the Nasdaq Sprott Nickel Miners Index. It holds 22 stocks in its basket, with Indonesian firms making up the largest share at 32.4%, followed by Australia (29.9%) and Canada (15.8%). Sprott Nickel Miners ETF has accumulated $7.2 million in its asset base and trades in average daily volume of 17,000 shares. It charges 75 bps in annual fees. 
iShares MSCI Global Gold Miners ETF (ETF:RING) &ndash; Up 10.6% 
iShares MSCI Global Gold Miners ETF offers exposure to companies that derive the majority of their revenues from gold mining. It follows the MSCI ACWI Select Gold Miners Investable Market Index and holds 36 securities in its portfolio. Canadian firms take more than half of the portfolio, while the United States takes the next spot at 21.1% share. RING is the cheapest choice in the gold mining space, charging just 39 bps in fees and expenses. It has been able to manage assets worth $485.4 million and trades in a good volume of 130,000 shares per day.
<a href="https://www.zacks.com/stock/news/2265293/mining-etfs-win-in-turbulent-april-with-double-digit-gains?cid=CS-BENZ-FT-etf_news_and_commentary-2265293">To read this article on Zacks.com click here.</a>

Trading Ideas

ALUM

ICOP

NIKL

Mining ETFs Win in Turbulent April With Double-Digit Gains

Newmont Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) shares are trading higher after the company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38426146/newmont-reports-first-quarter-2024-results" rel="noreferrer noopener">first-quarter FY24 results</a>.
Revenue reached $4.023 billion, above the consensus of $3.670 billion.&nbsp;
Gold production fell 4% Y/Y to 1.675 million ounces due to lower output at Tanami on planned mill shutdown and seasonal rainfall impacts and the ongoing stripping campaigns at Boddington and Akyem.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37904712/newmonts-ghana-gold-mine-sale-targets-2b-attracts-chinese-giants" rel="noreferrer noopener">Newmont&#8217;s Ghana Gold Mine Sale Targets $2B, Attracts Chinese&nbsp;Giants</a>
Gold Costs Applicable to Sales (CAS) stood at $1,057 per ounce, and gold All-In Sustaining Costs (AISC) came in at $1,439 per ounce.&nbsp;
Adjusted EBITDA rose 23% Q/Q to $1.694 billion in the quarter.&nbsp;Adjusted&nbsp;EPS of $0.55,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of $0.36</a>.
Capital expenditure decreased 8% Q/Q to $850 million, and operating cash flow rose 26% from the prior quarter to $776 million.
As of March 31, 2024, Newmont had cash and cash equivalents of $2.34 billion.
Dividend: The company declared a dividend per share of $0.25 for the first quarter of FY24, payable on June 27 to shareholders of record on June 4.
FY24 Outlook: The company reaffirms its outlook for gold production of around 6.9 million ounces and&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37267757/why-gold-miner-newmont-shares-are-falling-today" rel="noreferrer noopener">Gold AISC of $1,400 per ounce</a>.
Newmont expects Tanami Expansion 2 development capital spending of $1.7 billion-$1.8 billion, with commercial production expected in the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">second half of 2027</a>.
The company delivered $105 million in synergies&nbsp;to-date&nbsp;related to the Newcrest transaction and is on track to deliver an expected $500 million in synergies by the end of 2025.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/02/37287732/gold-miner-newmont-looks-to-sell-assets-reduce-8b-debt-load" rel="noreferrer noopener">Gold Miner Newmont Looks To Sell Assets, Reduce $8B Debt Load</a>
Investors can gain exposure to the stock via&nbsp;IShares MSCI Global Gold Miners ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>) and&nbsp;VanEck Gold Miners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>).
Price Action: NEM shares are up 11.4% at $43.01 at the last check Thursday.
Photo via Shutterstock

Earnings

Dividends

Movers

Market Vectors ETF Trust Market Vectors Gold Miners

Why Gold Miner Newmont Shares Are Surging Today

Newmont Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) has reportedly initiated the sale of its Akyem gold mine in Ghana, drawing interest from&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37894749/gold-rush-begins-as-fed-hints-at-rate-cuts-5-mining-stocks-glitter-with-over-30-ral" rel="noreferrer noopener">Chinese producers due to rising gold prices.</a>
Newmont, headquartered in Denver, has engaged Citigroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) for the sale and has begun reaching out to potential buyers, <a href="https://www.bloomberg.com/news/articles/2024-03-22/newmont-s-akyem-ghana-gold-mine-is-said-to-draw-chinese-interest">Bloomberg </a>reported.
Shandong Gold Mining Co. and Zijin Mining Group Co. are among the companies expressing initial interest in the asset, according to the report, citing people familiar with the matter.
Chifeng Jilong Gold Mining Co. is also evaluating Akyem, while Australian miner Perseus Mining Ltd. expressed interest in the asset last month, Bloomberg added.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/03/37883370/centamin-reports-record-gold-revenues-but-egyptian-turmoil-leaves-an-asterisk" rel="noreferrer noopener">Centamin Reports Record Gold Revenues, But Egyptian Turmoil Leaves An Asterisk</a>
Newmont seeks to generate $2 billion in cash through divestitures following its acquisition of Newcrest Mining Ltd. in November.&nbsp;
Apart from Akyem, the company aims to offload four gold mines in North America and one in Australia, Bloomberg added.
Last month, the company said it intends to divest six non-core assets including Éléonore, Musselwhite, Porcupine, CC&amp;V, Akyem, and Telfer, as well as two non-core projects,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37256977/newmont-announces-balanced-capital-allocation-strategy-and-return-of-capital-framework-supported-b" rel="noreferrer noopener">including Havieron and Coffee.</a>
By auctioning assets, Newmont hopes to reduce its debt load by $1 billion in the short term. Palmer also intends to achieve $100 million in free cash flow by integrating<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/02/37287732/gold-miner-newmont-looks-to-sell-assets-reduce-8b-debt-load" rel="noreferrer noopener">&nbsp;Newmont and Newcrest, and cutting jobs</a>.
Looking ahead to 2025 and beyond, Newmont expects its portfolio to improve gold production to 6.7 million ounces by 2028.&nbsp;
NEM stock has lost over 29% in the past year. Investors can gain exposure to the stock via&nbsp;IShares MSCI Global Gold Miners ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>) and&nbsp;VanEck Gold Miners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>).
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/03/37889807/robinhoods-co-founder-baiju-bhatt-steps-down-ceo-commends-his-role-in-companys-evolution-from-a-" target="_blank" rel="noreferrer noopener">Robinhood&#8217;s Co-Founder Baiju Bhatt Steps Down, CEO Commends His Role In Company&#8217;s Evolution &#8216;From A Seed Of An Idea To The Global Public Company&#8217;</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image generated using artificial intelligence with Midjourney.

General

Newmont's Ghana Gold Mine Sale Targets $2B, Attracts Chinese Giants

Gold prices are projected to rise to $2,500-$2,600 per ounce, representing an&nbsp;attractive portfolio hedge for equity investors, according to a Bank of America report published this week. 
As the precious metal surged to fresh record highs following the Fed March meeting, investment and ETF strategist Jared Woodard from Bank of America identified two primary engines driving gold&#8217;s unprecedented rally: its hedging quality <a href="https://www.benzinga.com/topic/gold">and central bank purchases. </a>
<h1 class="wp-block-heading">Chart: Gold Hit Record Highs Post-Fed March 2024 Meeting</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21115130/image-47-1024x495.png" alt="" class="wp-image-260971" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21115130/image-47-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21115130/image-47-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21115130/image-47-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21115130/image-47-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21115130/image-47.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">Key Drivers Sending Gold To Record Highs</h1>
&#8220;Gold&nbsp;has the lowest correlation to the S&amp;P 500 of almost any asset class and&nbsp;can act as a haven if inflation reaccelerates or growth slows&nbsp;later this year,&#8221; Woodard wrote.
Woodard highlighted that &#8220;central banks have been hoarding gold like never before,&#8221; accumulating over 2,100&nbsp;tons&nbsp;in the past&nbsp;two&nbsp;years.
The expert also stressed that unlike previous rallies, the current surge in gold&#8217;s value has largely bypassed retail investors. This is evidenced by a 25% drop in total ETF gold holdings, suggesting that prices could have been even higher if retail participation mirrored that of institutional entities.
This gap presents a potential for increased demand, especially if yields decrease, possibly driving prices to the $2500-$2600 range, as predicted by Bank of America technical analyst Paul Ciana.
<h1 class="wp-block-heading">A Preference for Physical Gold ETFs Over Miners</h1>
When considering how to get exposure to gold, Woodard and his team advocate for physical gold ETFs, such as iShares Gold Trust Micro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUM#NYSE">IAUM</a>) and SPDR Gold Minishares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>), which are less expensive than the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) and iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>). 
Physical gold ETFs are also preferred versus miner ETFs, as the former offers a more stable and direct exposure to the commodity&#8217;s value.
Bank of America showed that in the long timeframe, gold mining ETFs have not kept pace with their physical counterparts, partly due to the presence of mining companies disproportionately affected by downturns, diluting potential gains.
The expert recommended prioritizing mining stocks with a higher ratio of upside to downside beta, such as Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) or Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), to capitalize on gold&#8217;s positive trajectory while mitigating risk.
In the mining ETFs arena, Bank of America&#8217;s preference is on the iShares MSCI Global Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>) and the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) as it &#8220;offers above average risk-adjusted returns and buy-rated stock exposure&#8221; compared to Sprott Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDM#NYSE">SGDM</a>) and VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>)
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37870905/feds-dovish-stance-ignites-market-rally-everybody-is-bullish-veteran-wall-street-in">Fed&#8217;s Dovish Stance Ignites Market Rally: &#8216;Everybody Is Bullish,&#8217; Veteran Wall Street Investor Says</a>
Photo: Shutterstock

Analyst Color

New ETFs

Price Target

Analyst Ratings

GDXJ

GLDM

GOLD

IAUM

SGDM

Gold Investors Should Own These ETFs, Says Bank Of America: Why Analysts Expect Gold Spike To $2,600

Amid growing supply constraints and undervalued stock prices, value investors are gravitating towards mining stocks, seeking to capitalize on a market dislocation poised for a readjustment. 
Taylor McKenna, CFA analyst at Kopernik Global Investors LLC, shared insights at a Benzinga virtual event on Thursday, highlighting the significant gap between metal commodity prices and the <a href="https://www.benzinga.com/events/mining-unearthed-2024/">valuation of mining companies.</a>
Watch The Full Benzinga Virtual Event – Mining Unearthed: Navigating the Ore of Innovation!
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Mining Unearthed: Navigating the Ore of Innovation!" width="500" height="281" src="https://www.youtube.com/embed/0NxOCrH72ws?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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<h3 class="wp-block-heading">Gold Stocks At A Discount Despite Rising Gold Prices</h3>
McKenna pointed out the stark disconnection in the market, with gold trading above $2,000 per ounce while gold stocks are priced at a discount of 50 to 80%. This discrepancy presents a unique opportunity for investors, according to McKenna, who is &#8220;very happy to take advantage of this currently&#8221;. 
He noted the decline in capital expenditure among mining companies to 80% of what was spent a decade or more ago, forecasting severe supply constraints for various metals.
&#8220;What&#8217;s really exciting for us is that valuations are reaching extremes,&#8221; McKenna said. 
<h3 class="wp-block-heading">Newmont Corp: A Case Study in Undervaluation</h3>
McKenna underscored Newmont Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) 60% stock price drop from the previous year, despite a 10% rise in gold prices. 
Contrary to concerns of value destruction, McKenna praised Newmont&#8217;s acquisition of Newcrest Mining last year as &#8216;a steal&#8217; for the company. 
He argued that Newmont&#8217;s valuation has actually increased.
&#8220;Currently, you can buy gold in the ground at the largest gold producer with the longest mine lives for under $200.00 an ounce. Even if you add lifting cost and then a margin on top of that, it&#8217;s still well below the current gold price of $2,000,&#8221; McKenna said. 
Chart: Newmont Trades At Extreme Discount Compared To Gold Prices 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/15161514/image-35-1024x495.png" alt="" class="wp-image-218119" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/15161514/image-35-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/15161514/image-35-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/15161514/image-35-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/15161514/image-35-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/15161514/image-35.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Stronger Balance Sheets, Positive Outlook</h3>
McKenna also commended the improved financial health of larger mining firms. He noted their cleaner balance sheets and net cash positions. 
Gold miners&#8217; valuations are already at historic lows relative to the price of gold. McKenna sees even more upside potential if precious metal prices climb further, driven by industry-wide supply constraints.
Addressing the question of Wall Street&#8217;s apparent oversight of this dislocation, McKenna expressed confidence that &#8220;eventually investors will wake up to this.&#8221; 
<h3 class="wp-block-heading">List of ETFs Holding Newmont Corp.</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>ETF Name</td>
<td>↓ Weight %</td>
</tr>
<tr>
<td>iShares, Inc. &#8211; iShares MSCI Global Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>)</td>
<td>19.05%</td>
</tr>
<tr>
<td>VanEck ETF Trust &#8211; VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>)</td>
<td>13.20%</td>
</tr>
<tr>
<td>Sprott Funds Trust &#8211; Sprott Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDM#NYSE">SGDM</a>)</td>
<td>11.10%</td>
</tr>
<tr>
<td>WisdomTree Trust &#8211; WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDMN#NYSE">GDMN</a>)</td>
<td>8.06%</td>
</tr>
<tr>
<td>SPDR Index Shares Funds &#8211; SPDR S&amp;P North American Natural Resources ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NANR#NYSE">NANR</a>)</td>
<td>5.88%</td>
</tr>
<tr>
<td>iShares, Inc. &#8211; iShares MSCI Global Silver and Metals Miners Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLVP#NYSE">SLVP</a>)</td>
<td>4.49%</td>
</tr>
<tr>
<td>iShares Trust &#8211; iShares U.S. Basic Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>)</td>
<td>4.43%</td>
</tr>
</tbody>
</table>
</figure>
<a href="https://www.youtube.com/@Benzinga"></a>Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37139816/2008-big-short-oracle-burry-bets-big-on-chinese-giants-backs-google-amazons-ai-wave">2008 &#8216;Big Short&#8217; Oracle Burry Bets Big On Chinese Giants, Backs Google, Amazon&#8217;s AI Wave</a>
Image: Pixabay

Events

Exclusives

GDMN

iShares Trust Dow Jones US Basic Materials Sector Index Fund

NANR

EXCLUSIVE: Value Investor Is 'Very Happy To Take Advantage' Of Top Gold Miner At Historical Discount

Benzinga reviews this weekend&#39;s top stories covered by Barron&#39;s. Here are the articles investors need to read. 
In &quot;<a href="https://www.barrons.com/articles/freshpet-stock-activist-jana-4670d9a3?mod=djem_b_Weekly%20Barrons%20feed%20for%20last%2024%20hours">Freshpet Activist Might Unleash Less Change Than Expected</a>,&quot; Carleton English writes that Jana Partners&#39; proxy battle with food and treats manufacturer Freshpet Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frpt#NASDAQ">FRPT</a>) will most likely come up short as the activist hedge fund &mdash; and the company&#39;s largest shareholder &mdash;&nbsp;attempts to reshape Freshpet&#39;s board. 
&quot;<a href="https://www.barrons.com/articles/gm-stock-buy-chief-financial-paul-jacobson-69ac5276?mod=djem_b_Weekly%20Barrons%20feed%20for%20last%2024%20hours">GM Chief Financial Officer Paul Jacobson Scoops Up Shares</a>&quot; by Ed Lin discusses Jacobson&#39;s faith in General Motors Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) even though the auto manufacturer failed to sustain a rally following strong fourth-quarter earnings. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/23/05/32608237/nvidia-is-poised-to-join-the-1-trillion-club-thanks-to-the-ai-revolution">Nvidia Is Poised To Join The $1 Trillion Club, Thanks To The AI Revolution</a> 
In &quot;<a href="https://www.barrons.com/articles/ringcentral-stock-8x8-activist-b58bd6c5?mod=djem_b_Weekly%20Barrons%20feed%20for%20last%2024%20hours">RingCentral and 8&times;8 Stock Are Soaring. An Activist Discloses Large Stakes</a>,&quot; Eric J. Savitz explores the recent impact of Sylebra Capital, a Hong Kong-based activist investment firm, on the shares of cloud-based communications companies RingCentral Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ring#NYSE">RING</a>) and 8x8 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eght#NASDAQ">EGHT</a>). 
In &quot;<a href="https://www.barrons.com/articles/paramount-stock-shari-redstone-national-amusements-22590f4d?mod=djem_b_Weekly%20Barrons%20feed%20for%20last%2024%20hours">Paramount Stock Rises as Shari Redstone&#39;s National Amusements Gets Fresh Investment</a>,&quot; Connor Smith explains how a $125 million investment in Paramount&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/para#NASDAQ">PARA</a>) controlling shareholder will support National Amusements&#39; &quot;stewardship of Paramount Global.&quot; 
&quot;<a href="https://www.barrons.com/articles/snowflake-stock-price-rating-downgrade-e904512b?mod=djem_b_Weekly%20Barrons%20feed%20for%20last%2024%20hours">Snowflake Stock Gets Another Downgrade, Amid Ongoing Growth Concerns</a>&quot; by Savitz highlights the challenges that cloud company Snowflake (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snow#NYSE">SNOW</a>) faces &mdash; including competition from Microsoft (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) and software company Databricks &mdash; after it reduced guidance for the January 2024 fiscal year for the third consecutive quarter. 
Read Next: <a href="https://www.benzinga.com/markets/equities/23/05/32608182/heres-how-much-1-000-invested-in-jpmorgan-when-jamie-dimon-became-its-ceo-would-be-worth-now">Here&#39;s How Much $1,000 Invested In JPMorgan When Jamie Dimon Became Its CEO Would Be Worth Now</a>
Photo: Shutterstock

Penny Stocks

EGHT

FRPT

MSFT

PARA

SNOW

Barron's Weekend Stock Picks: Freshpet Caught In Crosshairs Of Activist Hedge Fund, GM Struggles To Maintain Rally And Snowflake Faces Headwinds

Peter Schiff, chief Economist and global strategist&nbsp;at Euro Pacific Capital,&nbsp;asked Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) &quot;fanatics&quot; to stop making fun of <a href="https://www.benzinga.com/markets/commodities/22/11/29531411/gold-gains-1-over-the-dollar-could-this-be-the-time-to-buy">gold based on its market movement</a>&nbsp;in November 2022.
&ldquo;#Bitcoin fanatics need to stop making fun of #gold&#39;s $52 rise, claiming a 3% move is nothing compared to what Bitcoin does. Bitcoin was only up 4% today. Not nearly enough of an extra gain to offset substantially higher risk. The $GDX was up over 10%. The miners are a better bet,&rdquo; Schiff said in his tweet at the time.
Also Read: <a href="https://www.benzinga.com/money/best-broker-for-short-selling">Brokers For Short Selling</a>
Schiff explained how positive divergences in gold prices indicate the commodity was likely to have witnessed its low in&nbsp;and was headed higher going forward. &ldquo;#Gold is up over $50 today. Daily gains that large rarely happen. The positive divergences I have been pointing out between #silver and the miners likely mean gold has seen its lows. If so, $50 daily spikes will soon be common. In fact, gold may soon have its first $100 up day,&rdquo; he said in his tweet on Sunday.
<blockquote class="twitter-tweet"><a href="https://twitter.com/hashtag/Gold?src=hash&amp;ref_src=twsrc%5Etfw">#Gold</a> had an out-side reversal week, where it not only took out last week&#39;s low and closed above last week&#39;s high, but this week&#39;s low was also a new 52-week low. <a href="https://twitter.com/hashtag/Silver?src=hash&amp;ref_src=twsrc%5Etfw">#Silver</a> also had a similar out-side reversal week, but did not make a new 52-week low. Another positive divergence.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1588623809355005952?ref_src=twsrc%5Etfw">November 4, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Gold Miner ETFs:&nbsp;In November, Schiff also highlighted his bullish stance on gold miner ETFs saying the rise in prices is likely to be the beginning of a long trend. He advised investors to mind this trend and not be the last one aboard.
&ldquo;Since the end of Aug. the $GDXJ, an index of junior #gold mining stocks, is up 5.5%. During that same period of time, the NASDAQ was down 11.5%. Lots of investors own big tech. Very few own junior miners. This is likely the beginning of a long trend. Don&#39;t be the last one onboard,&rdquo; he said in his tweet at the time.
The VanEck Gold Miners ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gdx#NYSE">GDX</a>) closed over 10% higher on Nov. 4, 2022, while the iShares MSCI Global Gold Miners ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ring#NASDAQ">RING</a>) closed 9.76% higher on the same day.
This story was originally published on Nov. 7, 2022.
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CES 2018 Concludes Today, Attendees Include:  Ford, ON Semiconductor, Avnet, Kodak, Xperi, Fitbit, Garmin, GoPro, Roku, Samsung, RingCentral, 3M, Intel, Skyworks Solutions, and Lattice Semiconductor

CES 2018 Continues Today, Day 3 of 4: Attendees Include Ford, ON Semiconductor, Avnet, Kodak, Xperi, Fitbit, Garmin, GoPro, Roku, Samsung, RingCentral, 3M, Intel, Skyworks Solutions, and Lattice Semiconductor

CES 2018 Continues Today, Day 2 of 4: Attendees Include Ford, ON Semiconductor, Avnet, Kodak, Xperi, Fitbit, Garmin, GoPro, Roku, Samsung, RingCentral, 3M, Intel, Skyworks Solutions, and Lattice Semiconductor

CES 2018 Event Begins Today, Day 1 of 4; Attendees Include Ford, ON Semiconductor, Avnet, Kodak, Xperi, Fitbit, Garmin, GoPro, Roku, Samsung, RingCentral, 3M, and Lattice Semiconductor

This is how things are going for gold exchange-traded funds this year. Physically-backed ETFs, such as the SPDR Gold Trust (ETF) (NYSE: <a class="ticker" href="/stock/gld#NYSE">GLD</a>), have been good. Gold mining ETFs have been better. A lot better. For example, the Market Vectors Gold Miners ETF (NYSE: <a class="ticker" href="/stock/gdx#NYSE">GDX</a>), is up 73.1 percent year-to-date, a performance that is about three and a half times better than GLD&#39;s performance.
Further underscoring the strength of gold miners ETFs this year is this anecdote: Of the top 11 non-leveraged ETFs on a year-to-date basis, nine are either gold or silver miners ETFs. Of the remaining two ETFs, one is a mining and materials fund heavy on gold miners. The other is the iShares MSCI All Peru Capped Index Fund (NYSE: <a class="ticker" href="/stock/epu#NYSE">EPU</a>). Peru is a major producer of gold and one of the world&#39;s largest silver-producing countries.
Also on that list is the iShares MSCI Global Gold Miners ETF (iShares Inc. (NYSE: <a class="ticker" href="/stock/ring#NYSE">RING</a>)), which is higher by a dumbfounding 86.13 percent this year.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/04/7899658/poll-analysts-see-more-upside-for-gold-silver">Poll: Analysts See More Upside For Gold, Silver</a></bzrelatedlink>
<h3>Where This Success Originates</h3>
Sometimes, investors are obsessed with the &ldquo;why&rdquo; behind big moves, such as those being notched by ETFs like RING. Fortunately, the answer is not hard: Thank global central banks, including the Federal Reserve.
&ldquo;At the same time, gold has benefited from central bank policies and the level of real interest rates (in other words, the interest rate after inflation.) According to Bloomberg data, gold has typically performed best in environments in which real interest rates were low to negative [...] We are seeing stark examples of this with the current environment of negative interest rates in Japan and many parts of Europe,&rdquo; said BlackRock <a href="https://www.blackrockblog.com/2016/05/04/gold-rally/">in a recent note</a>.
Last month, the Federal Reserve <a href="http://www.benzinga.com/general/politics/16/03/7725043/peter-schiff-janet-yellen-and-the-federal-reserve-are-losing-credibil">opted against</a> boosting interest rates, leaving many market participants feeling that the odds of the central bank raising borrowing costs four times this year, as many thought would be the case heading into 2016, are rapidly dwindling.
The $125.5 million RING devotes over 24 percent of its combined weight to just two stocks &ndash; Barrick Gold Corporation (USA) (NYSE: <a class="ticker" href="/stock/abx#NYSE">ABX</a>) and Newmont Mining Corp (NYSE: <a class="ticker" href="/stock/nem#NYSE">NEM</a>). However, there is more to the story with gold miners and the relevant ETFs.
<h3>The Story Continues</h3>
&ldquo;The MSCI Global Gold Miners Index has rallied an incredible 76 percent this year, but much of the performance is due to the recovery in valuations: According to Bloomberg data, gold miner stocks were battered last year, with the index down 45 percent from its 2015 high. Now the stocks are not as attractive. At the same time, real rates have historically had little to no impact on equity returns,&rdquo; according to BlackRock.

Long Ideas

It's Not Surprising What's Boosting Gold Miners ETFs

The race for the best performing sector or asset class of 2015 is still in its nascent stages.

	However, two unlikely candidates have emerged in leadership roles from beaten down areas of the globe through the first six weeks of the year.

	The following ETFs represent areas of strength amid the backdrop of heightened stock market volatility.
<h3>
	Gold Mining Stocks</h3>

	The iShares MSCI Global Gold Miners ETF (iShares Inc.)(NYSE: <a class="ticker" href="/stock/ring#NYSE">RING</a>) has shown a strong bounce in price this year after having fallen more than 17 percent in 2014.

	Despite flying under the radar with just $63 million in total assets, this ETF has now jumped nearly 15 percent higher.

	Those returns in RING were as high as 25 percent in January, but a dip in <a href="http://www.benzinga.com/topic/gold-bullion">gold bullion</a> prices have led to a pullback in this niche ETF.
		<a href="https://www.benzinga.com/imce?app=nomatter%7Cimceload%40imceInline.load#" title=""><img alt="ring.png" height="284" src="https://www.benzinga.com/files/u79448/ring.png" width="460" /></a>

	RING tracks 33 global stocks engaged in all aspects of the gold mining industry. Well-known companies such as Goldcorp Inc. (USA) (NYSE: <a class="ticker" href="/stock/gg#NYSE">GG</a>) and Barrick Gold Corporation (USA) (NYSE: <a class="ticker" href="/stock/abx#NYSE">ABX</a>) make up the top two holdings in this market-cap weighted ETF.

	Another fund that has benefited from the bounce in this sector is the Market Vectors Gold Miners ETF (NYSE: <a class="ticker" href="/stock/gdx#NYSE">GDX</a>).

	GDX is the largest ETF in this space, with $7.4 billion in total assets along with a slightly broader base of 38 world-wide companies. So far this year, GDX has gained over 13 percent in total return.
<h3>
	Russian Stocks</h3>

	After being one of the most heavily sold areas of the globe last year, Russian stocks are showing some resilience in recent weeks. The Market Vectors Russia ETF Trust (NYSE: <a class="ticker" href="/stock/rsx#NYSE">RSX</a>) tracks a basket of 49 companies domiciled in this emerging market country.

	So far this year, RSX has gained over 15 percent and recently hit new 2-month highs. The economic engine of <a href="http://www.benzinga.com/topic/russia">Russia</a> is heavily dependent on oil prices, which are seeking to stabilize in recent weeks.
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		<a href="https://www.benzinga.com/imce?app=nomatter%7Cimceload%40imceInline.load#" title=""><img alt="rsx_2.png" height="284" src="https://www.benzinga.com/files/u79448/rsx_2.png" width="460" /></a></div>
</div>

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/etfs/sector-etfs/15/02/5221318/utility-russia-and-mid-cap-etfs-to-watch-this-week">Utility, Russia And Mid-Cap ETFs To Watch This Week</a></bzrelatedlink>

	The iShares Msci Russia Capped Index Fund (NYSE: <a class="ticker" href="/stock/erus#NYSE">ERUS</a>) has also jumped over 12 percent since the start of the year. Both funds have regained their 50-day moving averages, which may be seen as a sign of technical strength in the near-term.

	Ultimately, it&rsquo;s too early to tell whether these moves are just the result of quick bounces in an oversold asset class or whether a new trend change has truly arrived. Either way, it&rsquo;s worth keeping these ETFs on your radar screen to see if they can retain their leadership roles.

Emerging Market ETFs

ERUS

Market Vectors Russia ETF Trust Shares of Beneficial Interest

2 Unlikely Year-To-Date ETF Performance Leaders

The rally in precious metals and related stocks continues to push higher as the SPDR Gold Trust (NYSE: <a class="ticker" href="/stock/gld#NYSE">GLD</a>) hits a new five-month high. The initial rally was spurred by oversold technical levels, but the last few weeks the fuel has been moves by central banks around the globe. On Wednesday, Canada was the latest country to surprise the markets with an interest rate move. Next up is the European Central Bank.

	Even though the moves have hurt the value of the local currencies and helped push the U.S. Dollar Index to multi-year highs, gold has been viewed as an alternative. Typically, the <a href="http://www.benzinga.com/topic/us-dollar">U.S. dollar</a> and gold move in inverse relationships, but this time may be different.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/news/15/01/5165054/why-shares-of-eldorado-gold-crashed-on-wednesday">Why Shares Of Eldorado Gold Crashed On Wednesday</a></bzrelatedlink>

	Moving with the price of the hard commodities are the mine workers. After being beaten up for the last few years, the ETFs that track miners appear ready to end the multi-year downtrend.

	Highlighted below are a number of mining ETFs that have experienced a rally over the last couple months.
<h3>
	Market Vectors Gold Miners</h3>

	The Market Vectors Gold Miners ETF (NYSE: <a class="ticker" href="/stock/gdx#NYSE">GDX</a>) follows 38 small-, mid- and large-cap companies around the world that are primarily involved in gold mining.

	The top holdings include:
<ul>
<li>
		Goldcorp Inc. (USA) (NYSE: <a class="ticker" href="/stock/gg#NYSE">GG</a>) at 9.9 percent</li>
<li>
		Barrick Gold Corporation (USA) (NYSE: <a class="ticker" href="/stock/abx#NYSE">ABX</a>) making up 7.5 percent of the ETF</li>
<li>
		Newmont Mining Corp (NYSE: <a class="ticker" href="/stock/nem#NYSE">NEM</a>) coming in at 6.1 percent</li>
</ul>

	GDX is down 6 percent over the last 12 months, but is higher by 35 percent since the low last November. The ETF has an expense ratio of 0.53 percent.
<h3>
	Market Vectors Junior Gold Miners</h3>

	The Market Vectors Junior Gold Miners ETF (NYSE: <a class="ticker" href="/stock/gdxj#NYSE">GDXJ</a>) is made up of 69 small and medium companies in the gold and silver mining industry.

	The top holdings include:
<ul>
<li>
		IAMGOLD Corp (USA) (NYSE: <a class="ticker" href="/stock/iag#NYSE">IAG</a>) at 5.3 percent</li>
<li>
		Centamin Egypt Ltd with a 4.9 percent holding</li>
<li>
		Hecla Mining Company (NYSE: <a class="ticker" href="/stock/hl#NYSE">HL</a>) coming in at 3.7 percent</li>
</ul>

	GDXJ is down 23 percent over the last 12 months and since the bottom in mid-December the ETF is up 36 percent. The ETF has an expense ratio of 0.57 percent.
<h3>
	iShares MSCI Global Gold Miners</h3>

	The iShares Inc. (NYSE: <a class="ticker" href="/stock/ring#NYSE">RING</a>) is comprised of 41 companies that derive a majority of revenues from gold mining across eight countries, with Canada at 57 percent and <a href="http://www.benzinga.com/topic/south-africa">South Africa</a> at 14 percent being the most heavily weighted countries.

	The top individual holdings include:
<ul>
<li>
		GG at 15.4 percent</li>
<li>
		ABX making up 11.9 percent</li>
<li>
		NEM coming in at 8.9 percent</li>
</ul>

	The ETF is down 10 percent over the last 12 months and is up 33 percent from the November low. RING has an expense ratio of 0.39 percent.

	Upside potential for the gold mining ETFs has increased due to the moves by central banks around the world and the fact the sector is so beaten down. That being said, the long-term trend for the precious metals remains down and there is a risk the trend will continue after a short-term rally.

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