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Wheaton Precious Metals Corp. (WPM $150.99)
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Pan American Silver Corp. (PAAS $53.74)
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Coeur Mining Inc. (CDE $15.63)
Q: Can I get your general thoughts about gold and silver please. Broadly speaking gold is in a fairly new bull market, which tend to last many years once they start. Silver is just about to print its highest quarterly close ever (45 years in the making), and is within striking distance of all time highs.
For the last ~15 years it's been a fools errand to have much exposure to the sector, what do you think is an appropriate weighting for precious metals? Are you bullish on gold and silver?
What are your top 3 picks for gold exposure, and top 3 for silver exposure? Thanks!
For the last ~15 years it's been a fools errand to have much exposure to the sector, what do you think is an appropriate weighting for precious metals? Are you bullish on gold and silver?
What are your top 3 picks for gold exposure, and top 3 for silver exposure? Thanks!
5i Research Answer:
The TSX Materials sector is up 73% in the past 15 years but if we spin out the non-gold/silver stocks performance would be significantly higher. We do not think gold has run its course. Lower interest rates, currency debasement and high deficits can combine with FOMO and positive momentum and the sector could still run nicely from here. We think 10% is about a good average weight, but could see more for more aggressive investors. We are net bullish.
Gold: AEM, WPM, FNV
Silver: PAAS, AG, CDE
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in CDE.