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VanEck argued on Wednesday morning that investors should be keeping an eye out for company cash flow versus quarterly earnings results when it comes to gold mining names.
The exchange traded fund issuer said: “We believe free cash flow generation, not earnings, is a better way to assess the value and investment appeal of a gold mining company.”
VanEck went on to add: “As long-term investors looking for value creation, we are less obsessed with quarterly earnings and much more focused on companies’ outlook for free cash flow generation over the next 10 to 20 years.”
The price of gold (XAUUSD:CUR) has steadily declined since its July highpoint of $1,987 per ounce as its now down to Wednesday’s current price of $1,900. Moreover, the precious metal has also fallen below both its 100- and 200-day moving average.
For investors that are present or are considering entering the gold space see below a group of gold mining exchange traded funds along with a handful of spot gold ETFs along with their 2023 returns.
Gold Miners ETFs
VanEck Gold Miners ETF (NYSEARCA:GDX) -5.3%. VanEck Junior Gold Miners ETF (NYSEARCA:GDXJ) -7.8%. Shares MSCI Global Gold Miners ETF (RING) -5.9%. Sprott Gold Miners ETF (SGDM) -6.1%. Direxion Daily Gold Miners Index Bull 2x Shares (NUGT) -18.5%. Direxion Daily Gold Miners Index Bear 2x Shares (DUST) -0.3%.
Spot Gold ETFs
SPDR Gold Shares (NYSEARCA:GLD) +3.3%. iShares Gold Trust (NYSEARCA:IAU) +3.4%. Abrdn Physical Gold Shares ETF (SGOL) +3.5%. VanEck Merk Gold Trust (OUNZ) +3.4%.
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