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Finding Opportunity in the Gold Space

In a recent interview with Rachel Lee of Small Cap Power, Frank Holmes discusses his macro view of the gold market, but also touches on a few specific pieces of news in the gold mining space. For starters, Frank talks about the rebalance of the VanEck Vectors Junior Gold Miners ETF (GDXJ) and why this has been both a disruption and an opportunity for investors and fund managers. In addition, Frank chats about a few quality, small-cap gold names he’s looking at right now and what makes them special.

Want the full interview? Tune in to the recap below!

 

 

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Holdings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the interview were held by one or more accounts managed by U.S. Global Investors as of 03/31/2017: VanEck Vectors Gold Miners ETF (GDX), VanEck Vectors Junior Gold Miners ETF (GDXJ), Klondex Mines Ltd., Wesdome Gold Mines Ltd., Franco-Nevada Corp, Silver Wheaton Corp, Sandstorm Gold Ltd., Osisko Mining Inc.

Cash Flow is a measure of the amount of cash generated by a company’s normal business operations.

The Consumer Price Index (CPI) is one of the most widely recognized price measures for tracking the price of a market basket of goods and services purchased by individuals. The weights of components are based on consumer spending patterns.

Smart beta refers to investment strategies that emphasize the use of alternative weighting schemes to traditional market capitalization based indices.

Price to Book ratio is determined by dividing the price of the stock by the company's book value.

SG&A refers to a company’s selling, general and administrative expenses.

The Purchasing Manager’s Index is an indicator of the economic health of the manufacturing sector. The PMI index is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment.