VanEck Gold Miners (GDX) Surges 95% Amid Ongoing Iran Conflict
Published on · Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowThe VanEck Gold Miners ETF (GDX) has gained approximately 95% over the past year, driven by geopolitical tensions linked to the ongoing Iran conflict. The fund, which holds around $28.2 billion in net assets, has benefited from operational leverage as rising gold prices expand margins for mining companies. However, higher oil prices, currently around $95 per barrel, may compress those margins. GDX's significant concentration risk lies in its top three holdings—Newmont (NEM) at 12%, Agnico Eagle (AEM) at 10.8%, and Barrick Mining (B) at 7.6%—which together represent nearly a third of the portfolio.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Newmont Corporation (NEM)
Newmont is the world’s largest gold miner.
The Materials sector covers chemical, metal, mining and packaging companies that supply raw inputs.
Earlier NEM news
- NEWMONT Corp (NEM) Form 144 Filing on April 1, 2023
- Micron, Sandisk, Newmont Lead Notable Premarket Stock Movements
- Premarket Movers: Micron, Alibaba, Five Below, and Newmont Stocks Surge
- Newmont Corporation Shares Decline Following Market Pressures
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