iShares MSCI Global Gold Miners ETF (NASDAQ: RING)

最新ニュース iShares MSCI Global Gold Miners ETF (NASDAQ:RING)

Basic Materials

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

Darwinia Network

RING X PLATFORM

Ring Energy Inc

RingCentral Inc

RINGKJOEBING LADBNK U/ADR by RINGKJOEBING LANDBOBANK AS

Ringkjoebing Landbobank AS

As tensions in geopolitics rise and global markets seesaw, investors are flocking to gold — not in bullion form, but through <a href="https://www.benzinga.com/etfs">ETFs that provide hassle-free access</a> without storage woes. 
As <a href="https://www.benzinga.com/etfs/specialty-etfs/25/04/44748769/gold-fever-grips-wall-street-these-etfs-are-striking-it-rich">gold prices reach 18-month highs</a> and uncertainty lingers thickly over U.S.-China trade relations, gold-backed ETFs are witnessing a record high demand.
The gold mania hasn&#8217;t been confined to the precious metal itself. Gold miners are also getting in on the action. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) zoomed to its best level since 2012, surging 6.11% at last check Friday. 
Largest holding in the fund, Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) is up more than 9% today. It jumped 25% this week alone, — its most optimistic weekly gain in 1998 — as investor demand expanded beyond bullion to the miners that dig it.
A number of other gold miner ETFs also showed impressive performances for the day:
<ul>
<li>iShares MSCI Global Gold Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>) took the lead with a 6.39% increase at mid-day.</li>
<li>Sprott Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDM#NYSE">SGDM</a>) closely followed with a 5.87% increase.</li>
<li>Global X Gold Explorers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOEX#NYSE">GOEX</a>), which invests in exploration-oriented miners, went up 4.75%.</li>
<li>VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>), which invests in smaller-cap gold miners, went up 5.13%.</li>
</ul>
In March alone, physically backed gold ETFs across the world collected $8.6 billion in inflows, the World Gold Council reported. That brought first-quarter inflows to $21 billion — the second-largest on record, behind only the frenzied second quarter of 2020 at the pandemic&#8217;s peak.
North American investors spearheaded the rush, contributing $12.9 billion—or about 76% of the quarter&#8217;s total. The action is part of a wider flight to safety as equity and bond markets totter in the face of renewed volatility.
The renewed gold rush follows just days after President Donald Trump imposed sweeping tariffs on 60 nations. 
Some countries were granted a 90-day respite — the EU among them. But China was struck with a 125% tariff increase. Beijing&#8217;s retaliatory move with an 84% tariff renewed the threat of an all-out U.S.-China trade war. While markets faltered, gold rose 3.3% on Wednesday and another 1.6% on Thursday, rising to within $50 of its historic high. Spot gold last traded at $3,117.15 an ounce in London.
Even a stunning rebound in equities hasn&#8217;t dimmed the yellow metal&#8217;s sheen — the S&amp;P 500 surged almost 10% on hopes for tariff relief. Yet, investors continue to hedge with gold as they prepare for more economic uncertainty and potential Federal Reserve intervention. A falling dollar and growing expectations for rate cuts only fuel the momentum.
The widespread surge in large-cap, junior, and exploration-centric gold mining ETFs highlights investor belief in depth within the precious metals sector. With volatility emerging as the new standard, physical gold and its equities-based counterparts are retaking their strategic safe-haven roles.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/04/44767888/how-intels-ceo-pick-could-jolt-chip-stocks-and-etfs">How Intel&#8217;s CEO Pick Could Jolt Chip Stocks And ETFs</a></li>
</ul>
Image: Shutterstock

Specialty ETFs

Commodities

ETFs

Market Vectors ETF Trust Market Vectors Gold Miners

GDXJ

GOEX

RING

SGDM

Gold Miners Go Parabolic: GDX Hits 2012 Highs, Newmont Soars 9%

Mining may be down, but not out. The sector has been the worst hit since the <a href="https://www.benzinga.com/topic/tariffs">new U.S. tariffs</a> were announced.
JPMorgan analyst Dominic O'Kane says, "<a href="https://www.benzinga.com/markets/commodities">mining was best performing sector</a> exiting last 3 recessions," and he expects another sharp recovery to unfold after the slide.
With the sector already pricing in a worst-case scenario, the setup for a V-shaped bounce is taking shape.
<h2 class="wp-block-heading">Extreme Weakness, But What's Priced In?</h2>
Metals and mining have been the worst-performing sector since new U.S. tariffs were announced, shedding 13% just last week. That adds to an eye-watering 50% underperformance versus MSCI Europe since January 2023. But O'Kane argues the damage is largely in the price: mining stocks already discount a recession scenario, with commodity prices 15–20% below current levels—such as iron ore at $80/ton and copper at $7,500/ton.
Still, fair value estimates suggest that miners have a serious upside even if metal prices stay flat. JPMorgan sees more than 50% total shareholder return over a two-year horizon. Rio Tinto plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>), for example, offers >65% upside, Antofagasta plc (OTCPK: ANFGF) >50% upside and BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) >65% upside from current price levels.
Read Also: <a href="https://www.benzinga.com/25/04/44682458/coppers-rout-sees-a-massive-intraday-price-swing-fundamentals-havent-changed-expert-says">Copper&#8217;s Rout Sees A Massive Intraday Price Swing, &#8216;Fundamentals Haven&#8217;t Changed,&#8217; Expert Says</a>
<h2 class="wp-block-heading">What Could Flip The Switch? China Stimulus In Q3</h2>
In the past three global downturns &#8211; 2009, 2016 and 2020 &#8211; miners bottomed ahead of the broader market and went on to outperform by roughly 100% in the next 12 months. This time, the catalyst could once again be China.
JPMorgan economists expect a RMB one trillion fiscal stimulus to be unveiled in the third quarter, which would align with the historical bottoming pattern of ~four months post-selloff.
In 2020, that timeline shrank to just one month as stimulus arrived fast and hard.
That said, this time is different: the expected 0.7% of GDP stimulus is far smaller than 2008's massive ~12% package, and no China property rescue is on the horizon.
Still, the setup remains favorable.
<h2 class="wp-block-heading">How To Play The Rebound: Stocks, ETFs</h2>
O'Kane's top stock picks are copper and gold-centric: Antofagasta and Lundin Mining Corp (OTCPK: LUNMF) lead his copper recommendations, while Rio Tinto offers a diversified bet with a high free cash flow yield.
On the gold side, Fresnillo plc (OTCPK: FSNPF), Hochschild plc (OTCPK: HCHDF) and Anglogold Ashanti PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>) are rated Overweight.
Several ETFs offer targeted exposure to this thesis for US-based investors. The Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>) and the iShares MSCI Global Metals &amp; Mining Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>) give broad access to copper and diversified miners.
Those seeking gold exposure can look to the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) or the iShares MSCI Global Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>).
These vehicles provide exposure to many of the stocks JPMorgan favors and may be well-positioned for a recovery trade.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/03/44442794/gold-etfs-face-off-gld-vs-gdx-as-they-steadily-climb-amid-bullion-boom">Gold ETFs Face Off: GLD Vs. GDX As They Steadily Climb Amid Bullion Boom</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Long Ideas

Sector ETFs

Markets

Analyst Ratings

Trading Ideas

ANFGF

COPX

HCHDF

LUNMF

PICK

JPMorgan's Mining Stock Picks For A 'V-Shaped Recovery,' Analyst Sees 50% Returns Over Two Years

Gold prices have skyrocketed, surging over 50% in just 14 months to hit fresh all-time highs. The metal&#8217;s market cap has now crossed a jaw-dropping $20 trillion — <a href="https://www.benzinga.com/topic/gold">a first in history</a>.
<h2 class="wp-block-heading">Gold Defies Gravity</h2>
What&#8217;s unusual this time? Gold is climbing alongside the U.S. dollar and bond yields—a rare divergence that&#8217;s raising eyebrows across Wall Street, <a href="https://x.com/KobeissiLetter/status/1892596245794783617?s=31">reported</a> The Kobeissi Letter.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Furthermore, physical gold buying is SKYROCKETING. Gold inventories in the 3 largest COMEX gold vaults just surged by 15 MILLION ounces in 2 months. That&#39;s a +115% increase, putting physical gold holdings ABOVE 2020 pandemic levels. There has been a CLEAR shift in sentiment. <a href="https://t.co/3B6bmd58gy">pic.twitter.com/3B6bmd58gy</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1892596250119168237?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
What was also noted is that physical gold buying is off the charts. Inventories in the three largest COMEX vaults spiked by 15 million ounces in just two months—a 115% surge that pushed holdings above 2020 pandemic levels.
Meanwhile, China&#8217;s gold reserves hit a record $73.5 billion, while India&#8217;s reached $70.9 billion. Central banks worldwide are piling in, with 2024 marking the third consecutive year of 1,000+ tonnes in net gold purchases—an unprecedented streak, The Kobeissi Letter notes.
Read Also: <a href="https://www.benzinga.com/government/regulations/25/02/43875557/donald-trump-airs-fort-knox-inspection-as-gold-edges-closer-to-3000-it-is-an-essential-component-of-portfolio-says-expert">Gold Is An &#8216;Essential Component&#8217; Of Portfolio, Says Expert As It Nears $3000 While Trump, Musk Suggest Fort Knox Inspection Amid The Surge</a>
<h2 class="wp-block-heading">Trading The Gold Boom: Golden Crosses Flash Bullish</h2>
With gold glittering, related stocks and ETFs are flashing bullish signals.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012125&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="629" height="489" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084409/Screenshot-2025-02-21-at-7.00.39-PM.png" alt="" class="wp-image-793161" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084409/Screenshot-2025-02-21-at-7.00.39-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084409/Screenshot-2025-02-21-at-7.00.39-PM-300x233.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>
<a target="_blank" href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012125&amp;t=be2bearmibe3na1" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
Anglogold Ashanti PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>) just formed a golden cross, where its 50-day moving average crossed above its 200-day. AU&#8217;s share price of $32.02 sits well above both its 50-day SMA of $27.37 and 200-day SMA of $27.01, signaling bullish momentum.
Read Also: <a href="https://www.benzinga.com/25/02/43710503/bank-of-america-sees-gold-hitting-3500-as-demand-surges-on-increased-policy-tensions">Gold Could Reach $3,500 As Demand Rises On &#8216;Increased Policy Tensions,&#8217; Says Bank of America</a>
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012125&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="629" height="489" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084508/Screenshot-2025-02-21-at-7.14.52-PM.png" alt="" class="wp-image-793166" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084508/Screenshot-2025-02-21-at-7.14.52-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084508/Screenshot-2025-02-21-at-7.14.52-PM-300x233.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012125&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
The iShares MSCI Global Gold Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>) also triggered a golden cross. Currently trading at $35.30, RING&#8217;s price outpaces its 50-day SMA of $31.22 and its 200-day SMA of $30.85. 
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012125&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="629" height="489" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084431/Screenshot-2025-02-21-at-7.03.57-PM.png" alt="" class="wp-image-793164" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084431/Screenshot-2025-02-21-at-7.03.57-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084431/Screenshot-2025-02-21-at-7.03.57-PM-300x233.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012125&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
Gold Fields Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) followed suit, boasting a 42% gain over the past year and a 36.5% surge year-to-date.
<h2 class="wp-block-heading">Bet On The Bull Run?</h2>
With gold breaking records, central banks hoarding bullion, and key stocks flashing golden crosses, the trend is hard to ignore. 
As macroeconomic uncertainty looms—from U.S. debt worries to trade tensions—gold's safe-haven appeal seems stronger than ever. 
For traders eyeing the next leg up, AU, RING, and GFI might just be golden tickets.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/02/43858757/bullion-boom-gold-etfs-gain-as-geopolitical-storm-fuels-surge">Bullion Boom: Gold ETFs Gain As Geopolitical Storm Fuels Surge</a></li>
</ul>
Image: Shutterstock

Gold Rush 2.0? Here's How To Play The New Bull Market

Editor's Note: This article has been updated to clarify that Elliott Investment Management purchased convertible senior notes of Wolfspeed and MicroStrategy.
Elliott Investment Management made several portfolio moves in the fourth quarter, closing multiple options positions and shaking up the activist firm&#8217;s <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43811538/5-top-tech-stocks-hedge-funds-have-been-bullish-on-in-q4-hint-its-not-nvidia">technology exposure</a>.
According to a new&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1791786/000101359425000294/xslForm13F_X02/primary_doc.xml" target="_blank" rel="noreferrer noopener">13-F</a>&nbsp;filing with the U.S. Securities and Exchange Commission, Elliott added the following new positions in the fourth quarter:
<ul>
<li>Wolfspeed Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) 0.25% and 1.875% convertible senior notes</li>
</ul>
<ul>
<li>NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) put options</li>
</ul>
<ul>
<li>SPDR Select Sector Fund Industrial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) put options</li>
</ul>
<ul>
<li>SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) put options</li>
</ul>
Here's a look at all of the positions Elliott added to during the fourth quarter:
<ul>
<li>Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) increased by 369%</li>
</ul>
<ul>
<li>MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) increased convertible senior notes by 200%</li>
</ul>
<ul>
<li>CorMedix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) increased by 85%</li>
</ul>
<ul>
<li>HDFC Bank Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDB#NYSE">HDB</a>) increased by 6%</li>
</ul>
Here&#8217;s a look at all of the positions Elliott closed during the fourth quarter:
<ul>
<li>Catalent Inc (CTLC) </li>
</ul>
<ul>
<li>Cardinal Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>)</li>
</ul>
<ul>
<li>Unity Software Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>)</li>
</ul>
<ul>
<li>BILL Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BILL#NYSE">BILL</a>)</li>
</ul>
Elliott closed out of calls in several names including Arm Holdings, American Airlines and Alaska Air Group. The firm also closed multiple put positions including Equinix, Hyatt Hotels and Host Hotels.
Here's a look at all of the positions Elliott trimmed during the fourth quarter:
<ul>
<li>ICON Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLR#NASDAQ">ICLR</a>) decreased by 62%</li>
</ul>
<ul>
<li>RingCentral Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>) decreased by 55%</li>
</ul>
<ul>
<li>NRG Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) decreased by 50%</li>
</ul>
<ul>
<li>Confluent Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFLT#NASDAQ">CFLT</a>) decreased by 37%</li>
</ul>
<ul>
<li>Southwest Airlines Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) decreased by 2%</li>
</ul>
The above information does not include call or put options that were added to or trimmed&nbsp;during the quarter.
This information was gathered using comparison tools from&nbsp;<a href="https://13f.info/13f/000101359425000294/compare/000101359424000968" target="_blank" rel="noreferrer noopener">13f.info</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43811538/5-top-tech-stocks-hedge-funds-have-been-bullish-on-in-q4-hint-its-not-nvidia">5 Top Tech Stocks Hedge Funds Have Been Bullish On In Q4 (Hint: It&#8217;s Not Nvidia)</a></li>
</ul>
This illustration was generated using artificial intelligence via Midjourney.

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Elliott Investment Management Bets Against Nvidia In Q4 (CORRECTED)

Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) disclosed the sale of its Cripple Creek &amp; Victor operation in Colorado to SSR Mining Inc. <a href="https://www.benzinga.com/pressreleases/24/12/b42360696/newmont-announces-agreement-to-divest-cc-v-for-up-to-275-million" target="_blank" rel="noreferrer noopener">for up to $275 million in cash</a>.
As per the terms of the agreement, Newmont will receive up to $275 million in gross proceeds. This includes $100 million in cash, payable at closing.
Additionally, Newmont will receive $87.5 million in contingent cash upon securing pending regulatory approvals.
A further $87.5 million will be paid upon resolving regulatory applications related to the Carlton Tunnel.
With this transaction, Newmont will have generated up to $3.9 billion in gross proceeds from non-core asset sales and investments.
The deal is expected to close in the first-quarter of 2025, subject to customary conditions.
Newmont will cover 90% of any incremental closure costs exceeding $500 million at CC&amp;V, as outlined in an updated regulator-approved closure plan.
This funding can be provided on an as-incurred basis or through a net present value lump-sum payment.
&#8220;We are excited to announce the continuation of our divestment program to streamline the Newmont portfolio as the leading operator of Tier 1 gold and copper assets,&#8221; said Tom Palmer, Newmont&#8217;s President and Chief Executive Officer. 
In February 2024, Newmont disclosed its plans to divest non-core assets, including six operations and two projects across its Australian,<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"> Ghanaian, and North American business units</a>.
With definitive agreements in place for four additional operations, the company aims to finalize its non-core asset divestiture program by Q1 2025.
Total gross proceeds from transactions announced in 2024 <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">are expected to reach up to $3.9 billion</a>.
Last month, the company sold its&nbsp;Éléonore&nbsp;mine in Quebec Tuesday to London-based&nbsp;<a target="_blank" href="https://www.benzinga.com/news/asset-sales/24/11/42202141/newmont-sells-mine-for-795-million-barrick-expands-reserves-top-miners-unfazed-by-underperformance" rel="noreferrer noopener">Dhilmar</a><a target="_blank" href="https://www.benzinga.com/news/asset-sales/24/11/42202141/newmont-sells-mine-for-795-million-barrick-expands-reserves-top-miners-unfazed-by-underperformance" rel="noreferrer noopener">&nbsp;for $795 million in cash</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 0.97% at $41.46 at the last check Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42044353/newmont-strikes-850m-deal-to-sell-musselwhite-mine-bolstering-2b-asset-sales-streak" target="_blank" rel="noreferrer noopener">Newmont Strikes Deal To Sell Musselwhite Gold Mine, Bolstering $2 Billion Asset Sales Streak</a></li>
</ul>
Photo: Shutterstock

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Large Cap

Newmont Sells Colorado Mine For $275 Million, Refocuses On Gold, Copper

Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) shares are trading higher on Monday. The company disclosed a deal to sell its Musselwhite operation in Ontario, Canada, to Orla Mining Ltd. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/ORLA#AMEX">ORLA</a>) for up to<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42032739/newmont-announces-sale-of-musselwhite-for-up-to-850-million" rel="noreferrer noopener"> $850 million in total consideration</a>.
As per the deal, Newmont will receive $810 million in cash at closing and up to $40 million in contingent payments.
The deal will push Newmont&#8217;s total proceeds from non-core asset sales past $2 billion and expected to close in the first quarter of 2025.
Notably, in February 2024, Newmont announced plans to divest six operations and two projects across its Australian, Ghanaian, and North American units.
With agreements finalized for assets in Australia, Ghana, and Musselwhite, the company aims to complete sales of its remaining North American non-core assets by the first quarter of 2025.
Also, Orla Mining expects the deal to be materially accretive on all key operating and financial per-share metrics, <a target="_blank" href="https://www.benzinga.com//node/42031628" rel="noreferrer noopener">benefiting all existing shareholders.</a>
Newmont expects total gross proceeds from 2024 transactions to reach up to $2.9 billion, including $2.3 billion from non-core divestitures and $527 million from other investment sales.
Newmont is advancing shareholder returns with a $3 billion buyback program, repurchasing 7.2 million shares for $336 million since October 2024. It also reduced debt by $500 million in 2024, nearing its $8 billion targeted debt balance.
Investors can gain exposure to the stock via&nbsp;iShares MSCI Global Gold Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>) and VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>).
Price Action: NEM shares are up 2.58% at $41.99, and ORLA is up 8.25% at $4.265 at the last check Monday.
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Guidance

Asset Sales

Movers

ORLA

Newmont Strikes Deal To Sell Musselwhite Gold Mine, Bolstering $2 Billion Asset Sales Streak

On Tuesday, Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) disclosed the sale of its Akyem operation in Ghana to Zijin Mining Group <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41242149/newmont-announces-definitive-agreement-to-divest-akyem-for-up-to-1-billion" rel="noreferrer noopener">for up to $1 billion in cash</a>.
This divestment aligns with Newmont&#8217;s strategy to focus on its Tier 1 assets and streamline its portfolio.
As per the deal, Newmont will receive $900 million in cash at closing and an additional $100 million contingent on meeting certain conditions.
The proceeds are expected to be used to support its capital allocation priorities, including strengthening its balance sheet and returning capital to shareholders.
The transaction is expected to close in the fourth quarter of 2024, pending regulatory approvals and customary conditions, and it will have no material impact on Newmont&#8217;s 2024 outlook.
Newmont has not adjusted its non-core guidance for the year. The company remains committed to Ghana, with plans to invest $950 million to $1.050 billion in the Ahafo North gold mining project.
Tom Palmer, Newmont&#8217;s President and Chief Executive Officer, said, &#8220;The sale of Akyem represents continued progress on the non-core asset divestiture program announced in February, supporting our focus on the Tier 1 assets in Newmont&#8217;s portfolio that will drive sustainable growth and the return of capital to shareholders.&#8221;
Rahman Amoadu, Newmont Managing Director, Africa, stated, &#8220;In line with President Afuko-Addo&#8217;s address in February we ensured that our robust divestment process provided equal opportunity for all potential buyers, Ghanaian and international, to participate.&#8221;
&#8220;Additionally, we have included the Minerals Income Investment Fund (MIIF) in the process in preparation of their potential investment in Akyem to further Ghanaian interest in the mine.&#8221;
Investors can gain exposure to the stock via iShares MSCI Global Gold Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>).
Price Action: NEM shares are up 0.36% at $52.93 premarket at the last check Wednesday.
Image via Shutterstock
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</ul>

Newmont Strikes ~$1B Deal For Akyem Sale, Focus Sharpens on Tier 1 Assets

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.
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Photo: Shutterstock

Macro Economic Events

Bonds

Treasuries

Econ #s

Economics

Federal Reserve

Tech

Fed Needs To Frontload Interest Rate Cuts, Say 4 Economists: 'Labor Market's Cooling Trend Is Quite Clear'

CORRECTION: RingCentral Ticker Is 'RNG'

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.

Biotech

Market Summary

Mid Cap

REIT

Broad U.S. Equity ETFs

Health Care

Small Cap

Real Estate

AAUKF

SPDR Dow Jones Industrial Average ETF Trust

FILL

iShares Dow Jones US Broker Dealers Index Fund

iShares Dow Jones US Insurance Index Fund

iShares Dow Jones US Regional Banks Index Fund

iShares U.S. Digital Infrastructure and Real Estate ETF

IDGT

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

iShares Dow Jones US Oil Equipment & Services Index Fund

iShares Dow Jones US Pharmaceuticals Index Fund

iShares Dow Jones US Health Care Provides Index Fund

iShares Dow Jones US Medical Devices Index Fund

ILIT

iShares Dow Jones US Aerospace & Defense Index Fund

iShares Dow Jones US Homenstruction Index Fund

iShares Trust Dow Jones US Financial Services Index Fund

iShares Dow Jones Transportation Average Index Fund

PAAS

iShares FTSE NAREIT Mortgage PLUS Capped Index Fund

iShares FTSE NAREIT Residential PLUS Capped Index Fund

SLVP

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

iShares S&P Global Timber & Forestry Index Fund

WOOD

XLRE

Select Sector SPDR-Consumer Discretionary

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>

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

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

New ETFs

Price Target

GLDM

GOLD

IAUM

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>
</div>
</figure>
<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>
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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.
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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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