You Need to Own One of These 3 Big Gold Stocks
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Gold continues to surge as investors run for safety. However, investors need to not only look at the underlying commodity -- owned mainly through ETF (NYSE: GLD) -- but also need to start looking at the gold producers.
Gold miners have underperformed the commodity so far this year. This is illustrated by the 5% YTD move down in ETF Market Vectors Gold Miners ETF (NYSE: GDX), versus the 16% upside move in the GLD.
Here is how the three big U.S. traded gold miners stack up.
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Gold miners have underperformed the commodity so far this year. This is illustrated by the 5% YTD move down in ETF Market Vectors Gold Miners ETF (NYSE: GDX), versus the 16% upside move in the GLD.
Here is how the three big U.S. traded gold miners stack up.
- Barrick Gold Corporation (NYSE: ABX):
Stock Price: $48.98
Market Cap: $49 billion
Estimated 2011 Sales: $13.57 billion
Estimated 2011 EPS: $4.62
Forward P/E = 10.6x
Gold Reserves: 139.8 million proven and probable gold reserves (12/31/10)
Gold Value Based on Current Price: $231.2 billion
- Newmont Mining (NYSE: NEM)
Stock Price: $56.55
Market Cap: $28 billion
Estimated 2011 Sales: $10.21 billion
Estimated 2011 EPS: $4.35
Forward P/E = 13x
Gold Reserves: 93.5 million ounces proven and probable gold reserves (12/31/10)
Gold Value Based on Current Price: $154.65 billion
- Goldcorp Inc. (NYSE: GG)
Stock Price: $48.88
Market Cap: $39.44 billion
Estimated 2011 Sales: $5.64 billion
Estimated 2011 EPS: $2.30
Forward P/E = 21.2x
Gold Reserves: 60.05 million ounces proven and probable gold reserve (12/31/10)
Gold Value Based on Current Price: $99.3 billion
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