RING: The Gold Rush Is Over?

2025-05-08 12:29:55 ET

Summary

• RING's top holdings (NEM, AEM, GOLD) show stable EV/EBITDA and growth, but latent market imbalances raise doubts about maintaining alpha.
• RING tracks the MSCI ACWI Select Gold Miners Index, with a 0.39% fee and high concentration in top holdings, questioning its cost-effectiveness.
• Risks include volatile precious metal prices, production guidance, costs, and USD value, impacting future EBITDA and raising concerns about RING's stability.

It’s a “golden era” for the companies inside RING. More gold than gold: compared to ETFs directly linked to gold itself, it has delivered positive alpha....

Read the full article on Seeking Alpha

For further details see: