It’s been a rough year thus far for investors in the Gold Miners Index (GDX (NYSE:GDX)), with the ETF being one of the worst performers year-to-date. This is evidenced by its (-) 16% return vs. a 22% return for the S&P-500 (SPY). Taylor Dart identifies 3 gold miners that are worth buying on the dip.It’s been a rough year thus far for investors in the Gold Miners Index (GDX), with the ETF being one of the worst performers year-to-date. This is evidenced by its (-) 16% return vs. a 22% return for the S&P-500 (SPY), and understandably, sentiment is at its worst levels in years.
(Source: TC2000.com)
The good news is that the pervasive negative sentiment has contributed to some of the most attractive valuations we’ve seen in more than five years, with the majority of producers trading at a discount to net asset value. This update will look at three producers trading at massive discounts to fair value and why they should outperform over the coming year.