I'm not sure whether this is of any interest.
Whose stock benefits most from an increase in the price of gold ? How about "The one whose current production yields the most gold per $1,000 of market capitalization." ?
Consider;
Stk;...MktCap/1000 ...Yr2000Prod/... oz per $1000
..
Pdg....6,122,352..... 3,000,000 ..... half-an-oz
K....... 436,931..........932,000.........2.13oz
GLG......310,800..........218,390........7/10th oz
IMN...... 97,712..........218,600........ 2.23oz
FCX....2,448,000......2,570,000..........1.05oz
There is one producer that is even better; BHK Blackhawk. There are probably others too. If you know any, please share them.
The figures were just picked up quickly from TSE quoted market capitalizations and from last year annual reports. They may not reflect current situations. Moreover, they say nothing about profitability or costs nor the effects of hedging; they simply indicate the benefit of price increase on total production; (i.e. leverage)
No marcos, the increase in copper prices did not escape me ! :>
tyke, if you like copper as well as gold, you can have your cake and eat it too with FCX. FCX produced 334 million pounds of copper at a cash cost of $.03/lb net of gold and silver credits. I started buying FCX again last year at $10 down into the $7's. With the share buybacks over the last few years, if we get a good gold and copper market, FCX could easily get over $40/share.
cheers,
teevee |
