| Renaissance Invested in Gold and Silver Mining Stocks in 1Q15 | |
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Renaissance Technologies' Exposure to Coeur Mining (Continued from Prior Part) Renaissance Technologies and silver mining stocks
During 1Q15, Renaissance Technologies’ exposure to silver mining companies include Fortuna Silver Mines (FSM), Great Panther Silver (GPL), Pan American Silver (PAAS), Silvercorp Metals (SVM), and Endeavour Silver (EXK). The position in Coeur Mining (CDE) represented 0.008% of the fund’s 1Q15 portfolio. Of all the stocks, Coeur Mining yielded returns of 6.65%, so far, in 2015.
Rationale behind investing in gold and silver
As noted earlier, the investment in silver mining stocks appears to be based on the view that the stocks could outperform the market. This is due to a rise in consumer demand for silver. The demand increased as a result of increased inflation. Silver miners tend to benefit when there’s foreign exchange movement and fluctuations in crude oil prices. Perhaps Renaissance Technologies believes that the market hasn’t priced in a premium already. It expects a sharp correction in the market value of silver mining stocks, including Coeur Mining, when the oil prices fluctuate more.
ETFs
Investors seeking to gain exposure to Coeur Mining can consider the Market Vectors Gold Miners Index (GDX). Newmont Mining (NEM), Hecla Mining (HL), and Pan American Silver account for 9.92% of GDX’s holdings.
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Coeur d'Alene Mines Corporation
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PRODUCER |
CODE : CDE |
ISIN : US1921085049 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Coeur d'Alène is a silver and gold producing company based in United states of america. Coeur d'Alène produces silver, gold, copper, lead and zinc in Argentina, in Australia, in Bolivia, in Mexico and in USA, develops gold and silver in Argentina and in Bolivia, and holds various exploration projects in Mexico. Its main assets in production are ROCHESTER MINE - NEVADA PACKARD in USA, ENDEAVOR and BROKEN HILL in Australia, PALMAREJO in Mexico, MARTHA MINE in Argentina and SAN BARTOLOME in Bolivia, its main assets in development are ROCHESTER and KENSINGTON in Bolivia and JOAQUIN in Argentina and its main exploration properties are KENSINGTON/JUALIN in Argentina, LAKE VICTORIA GOLD BELT in Tanzania and EL REALITO, GUADALUPE and LA PATRIA in Mexico. Coeur d'Alène is listed in Canada, in Germany and in United States of America. Its market capitalisation is US$ 843.8 millions as of today (€ 788.2 millions). Its stock quote reached its highest recent level on November 21, 1997 at US$ 99.38, and its lowest recent point on January 22, 2016 at US$ 1.62. Coeur d'Alène has 185 442 526 shares outstanding. |