Gold Miners ETF (GDX)

[tootalljones]

PR is a futures trader and could not be more wrong.....saying that gold today and miners in particular are the same as 2012 is laughbable.

In 2012, a stock like barrick, for instance, had a PE of close to 50, and a market cap of 20 billion and net debt of 20 billion.. (all of the miners back then, those few making money, had PEs of 40 to 55)...that was a bubble high and all of the big cap Miners were like that, and GDXJ was over 150 and its smaller components were priced like 1999 internet stocks......, back then all of the miners had ridiculous bloated balance sheets and very few of the big ones were earning any money.
Today barrick gold, to take a typical example of a large cap, has perhaps 5 billion in debt, but is NET DEBT positive, Barrick has a PE of 18 per yahoo and will make well over a billion net earnings this year.....where in 2012 it had over 20 billion in debt and was barely breaking even....Barrick might have had 700 million in cash but owed 20 billion plus...and was making no money. Today 5 billion in debt, making over a billion per year, in truth at least 1.5 in net earnings, and a PE of 18
the Author is completely out of his mind, and he is a short btw, a futures trader for many years now.;
Barrick is just one of so many, but they will make 1.5 billion with every hundred dollar increase in the POG...all the major components of the GDX are poised to rocket higher.

And gold back then had just finished a massive 10 year bull run, having gone from 265 bucks at the low to about 1900 when it broke in 2011, ....and since that time entered a bear and is now consolidating amidst absurd radical government corruption money printing. America alone owes 200 TRILLION IN UNFUNDED LIABILITIES..