Sprott Favors Gold 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 (NYSE:ABX), Osisko Mining (OSK.TO), Kirkland Lake (KGI.TO) and Silver Wheaton (NYSE:SLW).
In the video below, Sprott outlines that the main reasons for owning precious metals is fragility in the banking system.