Opinions
John Zechner
Market Vectors Jr Gold Miners ETF
GDXJ-N
TOP PICK
Feb 23, 2023
N/A
Stock price when the opinion was issued
E.T.F.'s
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BUY
Gold outlook He likes gold now, though he's not a gold bug. He holds 15-20% gold, split between gold and silver miners. Silver is actually outperforming tech. Gold and silver are catching up to metals now, and have a long way to go given continued stimulus. He's long gold. Gold will be the most important theme in the market.
E.T.F.'s
BUY
GDXJ gives him blanket exposure in gold. He owns a lot of gold stocks, including Newmont, Barrick and Kirkland Lake. You can get exposure to juniors through Dundee Precious Metals (he owns). All are interesting. GDXJ is not a bad way to get gold exposure.
E.T.F.'s
HOLD
Pretty bullish on gold. Looks for company-specific drivers that will increase the value of a company, even if gold is flat. For example, Wesdome and B2B Gold, which are raising dividends through capital allocation. The ETF has higher beta exposure to the gold price. As long as the commodity keep working, you'll be OK.
E.T.F.'s
SELL
He sold gold recently. Gold has a lid on it somewhere around $2000. Not a bad chart. You're hoping it will break out and, based on history, it may not. You could make up reasons for it to, but until it breaks out and lasts for more than just a few days, he doesn't trust any of those reasons and just goes by the chart. 5/10 for him.
E.T.F.'s
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USD weakening, especially if interest rates peak, should benefit gold. Gold stocks are trading at multi-decade lows. The ETF avoids taking on geopolitical or individual mining risk. There's more growth here than in the larger players, plus more potential for takeout activity.