Gold Miners Report Strong Earnings: Two Gold Miner ETFs
April 30, 2010 by goldguru · Leave a Comment
Tom Lydon submits:
A bevy of gold miners reported first-quarter earnings this week, and the results were nothing short of stellar. If you’re looking to ride the current gold rush, you may want to consider gaining exposure through gold-miner related ETFs.
Newmont Mining (NEM), Goldcorp (GG) and Barrick (ABX) all reported earnings this week, and they didn’t disappoint:
- Newmont Mining’s profits soared in the first quarter, thanks to higher gold and copper prices, as well as increased production.
- Revenues at Goldcorp rose 20% from a year earlier, and gold production increased as well.
- Barrick notched record profits in the first quarter, doubling its income on increased production, as well as gold and copper sales. Gold production soared 19% in the first quarter.
Don Dion for TheStreet recently noted that these three companies make up 38% of assets in Market Vectors Gold Miners (GDX).
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