Friday, March 25, 2016

Largest gold miners

Ticker  Company  Country  Market Cap
by market cap
  • GG Goldcorp Canada 17.11B
  • ABX Barrick Gold Canada 16.02B
  • NEM Newmont Mining USA 11.75B
  • AUY Yamana Gold Canada 6.60B
  • GOLD Randgold Resources Channel Islands 6.05B
  • FNV Franco-Nevada   Canada 5.63B
  • KGC Kinross Gold Canada 5.23B
  • AU AngloGold Ashanti South Africa 4.70B
  • AEM Agnico-Eagle Mines Canada 4.47B
  • EGO Eldorado Gold Canada 4.09B
  • RGLD Royal Gold USA 2.93B
  • BVN Compania de Minas Buenaventura Peru 2.82B
  • BTG B2Gold Canada 2.82B
  • GFI Gold Fields South Africa 2.60B
  • HL  Hecla Mining    USA  2.51B
  • NGD New Gold, Inc. Canada 2.43B
  • CDE Coeur Mining USA 1.91B; gold, silver, zinc, and lead miner
  • AGI Alamos Gold Canada 1.50B
  • IAG I AMGOLD Corp. Canada 1.47B
  • HMY Harmony Gold Mining Co. South Africa 1.13B
  • MUX McEwen Mining Canada 990.44M
  • AUQ AuRico Gold Inc. Canada 931.69M
  • GTU Central GoldTrust Canada 827.58M
  • NG NovaGold Resources Inc. Canada 725.09M
  • SBGL Sibanye Gold Limited South Africa 689.61M
  • NSU Nevsun Resources Ltd. Canada 616.92M
  • PPP Primero Mining Canada 563.36M
  • GSV Gold Standard Ventures Canada 461.062M
  • SAND Sandstorm Gold Canada 408.51M
  • ANV Allied Nevada Gold USA 335.18M
  • SA Seabridge Gold, Inc. Canada 314.34M
  • GORO Gold Resource Corp USA 267.14M
  • RBY Rubicon Minerals Canada 230.79M
  • SVLC Silvercrest Mines Inc. Canada 175.36M
  • TRX Tanzanian Royalty Exploration Canada 170.30M
  • AKG Asanko Gold Inc. Canada 164.15M
  • TGD Timmins Gold Corp. Canada 160.02M
  • LSG Lake Shore Gold Corp. Canada 158.73M
  • BAA Banro Corporation Canada 139.62M
  • BRD Brigus Gold Corp Canada 132.69M
  • DRD DRDGOLD Ltd. South Africa 130.06M
  • GSS Golden Star Resources USA 121.78M
  • KGJI Kingold Jewelry, Inc. USA 114.56M
  • LODE Comstock Mining, Inc. USA 112.61M
  • MDW Midway Gold Corp. USA 104.92M
  • Kirkland Lake Gold (KL)

Gold miners by:

Silver miners:

Some notes and observations:
  • In 2014, shares of precious-metal mining companies have been leading the gold price. That's different from what we saw in the past couple of years. The gold price outperformed the shares going into the peak in 2011 and through the remainder of that year. Now we are seeing the gold shares outperform the metal price. That typically is characteristic of better things to come.
  • All markets are forward looking, so if the stock market is anticipating a better gold price, the shares are going to do better than the gold price at the beginning of an upward move. In contrast, when the price of gold continued to make new highs in 2011, it was front-page news. And yet the shares lagged conspicuously. That was a sign that the move in the gold price wasn't going to be sustained.
  • Mining shares are highly leveraged to the gold price because of marginal economics. If the price of gold goes up 10%, that might mean the profitability of mining gold goes up 25%. Every company is a little different. In a way, mining shares are options on the gold price.

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