|New Threads Only:|
|New Threads & Replies:|
Forum List » Guru News and Commentaries|
Guru News, Stock picks and commentaries
Sprott Favors Gold Stocks
Posted by: matsandalex (IP Logged)
Date: November 10, 2011 02:16PM
Eric Sprott is perhaps the most widely known silver bull on the planet. Sprott (SII.TO) released earnings this morning that showed sluggish performance at the flagship hedge fund and renewed bullishness on gold mining stocks.
Sprott is "confident in its physical metals position and believes the current market environment presents unique opportunities to invest in precious metals-related equities, many of which are trading at historically wide spreads to bullion prices," Sprott chief executive officer Peter Grosskopf said as the firm released third-quarter results.
The Sprott Hedge fund is down about 12.6% on the year. His favorite precious metals stocks are Barrick Gold (ABX), Osisko Mining (OSK.TO), Kirkland Lake (KGI.TO) and Silver Wheaton (SLW).
In the video below, Sprott outlines that the main reasons for owning precious metals is fragility in the banking system.
Stocks Discussed: GLD, SLVR, SII.TO, ABX, KGI.TO, SLW,
Disclaimers: GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.