Introduction

To help you determine which gold equities to consider investing in, this article presents our portfolio of the 6 largest ($+10B) stocks by market capitalization that trade on Canadian and/or American stock exchanges.

Our Large-Cap Gold Equities Portfolio

Below are the performances of those 6 stocks for the week ending Sept 20th, in descending order, and MTD, along with their market capitalizations and company profile.

1. Gold Fields (GFI): up 6.6% w/e Sept. 20th; up 10.3% MTD​
   • Profile: operates as a gold producer in Chile, South Africa, Ghana, Canada, Australia, and Peru and also explores for copper and silver deposits.
   • Mkt. Cap: $13.5B
   • Current P/E Ratio: 14.6
2. Freeport-McMoRan (FCX): up 4.4% w/e Sept. 20th; up 0.6% MTD
   • Profile: engages in the exploration and mining of copper, gold, molybdenum, silver, and other metals in the USA, Indonesia, Peru and Chile North America, South America, and Indonesia.
   • Mkt. Cap: $64.0B
   • Current P/E Ratio: 27.0
3. Agnico Eagle Mines (AEM): down 0.5% w/e Sept. 20th; up 2.0% MTD
   • Profile: explores, develops, and produces gold with mines in Canada, Australia, Finland and Mexico and exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.
   • Mkt. Cap: $41.6B
   • Current P/E Ratio: 22.4
4. AngloGold Ashanti (AU): down 2.0% w/e Sept. 20th; down 5.5% MTD
   • Profile: primarily explores for gold in Africa, Australia, and the Americas (as well as produces silver and sulphuric acid as by-products) with its flagship property located in the Lake Victoria gold fields of the Mwanza region in north-western Tanzania.
   • Mkt. Cap: $10.2B
   • Current P/E Ratio: 11.8
5. Barrick Gold (GOLD): down 2.2% w/e Sept. 20th; up 0.9% MTD
   • Profile: engages in the exploration, mine development, and production of gold and copper properties (also explores and sells silver and energy materials) with producing gold mines located in Argentina, Canada, Côte d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.
   • Mkt. Cap: $35.7B
   • Current P/E Ratio: 15.8
6. Kinross Gold (KGC​​​​​​​): down 2.8% w/e Sept. 20th; up 5.8% MTD​​​​​​​
   • ​​​​​​​Profile: engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania.
   • Mkt. Cap: $11.8B
   • Current P/E Ratio: 15.8​​​​​​​

Summary

The Portfolio, with an average market cap of $29.7B, only went up 0.7% w/e Sept. 20th, and is now up 1.2% MTD and up 29.8% YTD.

The Van Eck Gold Miners ETF (GDX), which consists of 60 constituents with an average market capitalization of $23.6B, and has an expense ratio of 0.51%, went up 1.0% w/e Sept. 20th, and is now up 30.6% YTD.

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