Gold breaks out to 5 year high — here are gold stocks hedge funds have been buying

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As gold’s ascent gains momentum, investors looking for ways to play the gold rally may want to analyze the gold stocks hedge funds have been buying.

Gold hit a five year high on Friday as rate cut expectations, dollar weakness, trade war fears and global tensions all continued to support gold prices. Gold futures traded at $1403 late in the trading day. The SPDR Gold Trust (GLD) closed at 132.03, its highest close since March of 2014. GLD is up 9% year-to-date.

Meanwhile gold stocks continued their 2019 run. The VanEck Vectors Gold Miners ETF (GDX) also closed at multi-year highs and is up 19.53% year-to-date. Should gold continue to move higher — as a growing number of analysts predict — expect gold stocks to outperform the commodity.

SPDR Gold Trust (GLD) weekly prices. Chart: Interactive Brokers
VanEck Vectors Gold Miners ETF (GDX) weekly prices. Chart: Interactive Brokers

Below are gold mining stocks hedge funds bought the most in Q1, based on 13F filings. Many of these are low-priced, speculative and some are already up big year-to-date. But if the yellow metal continues to climb, expect a number of them to be multi-baggers. Do your homework!

Gold stocks hedge funds bought in Q1

Golds stocks with greater than $100 million market cap, more than $1 million in 13F holdings and more than 3 institutional holders. Q1 increase in 13F holdings greater than 10%.

NameTickerIndustry# Held By Market Cap  13F Market Cap Percent Change FilersQoQ % Change in 13F Market Cap
GREAT PANTHER SILVER LTDGPLGOLD MINING43        162,393,600           42,499,918 16.22164.19
ELDORADO GOLD CORPEGOGOLD MINING115        706,660,000         305,959,099 13.8671.45
NORTHERN DYNASTY MINERALS LTD.NAKGOLD MINING66        184,911,900           25,667,001 -1.4956.25
TRILOGY METALSTMQGOLD MINING49        321,079,600         123,952,531 -3.9248.01
BEAR CREEK MINING CORPORATIONBCEKFGOLD MINING4        132,078,000           11,034,000 33.3341.55
ALEXCO RESOURCE CORPAXUGOLD MINING35        117,720,000             5,507,000 -5.4139.97
SIBANYE-STILLWATER LIMITED ADS ADRSBGLGOLD MINING94     1,051,999,900         525,192,170 -6.0037.65
ALAMOS GOLD INCAGIGOLD MINING147     1,928,862,500      1,133,402,305 -5.7735.69
BARRICK GOLD CORPGOLDGOLD MINING490   15,715,761,400    14,108,925,369 10.1133.61
GOLDEN STAR RESOURCES LTDGSSGOLD MINING50        427,584,000         124,085,000 -5.6629.67
SEMAFO INCSEMFFGOLD MINING3        736,073,600           58,795,000 029.27
KIRKLAND LAKE GOLD LTDKLGOLD MINING196     6,530,000,000      3,072,588,747 21.7423.72
WHEATON PRECIOUS METALS CORPWPMGOLD MINING321   10,482,603,900      5,840,279,180 2.8821.84
MAG SILVER CORPMAGGOLD MINING76        840,858,200         430,530,890 -10.5917.39
HARMONY GOLD MINING CO. LTD. ADRHMYGOLD MINING86        800,514,000         285,969,201 2.3811.82
GOLD FIELDS LTD ADRGFIGOLD MINING139     3,036,257,000      1,354,753,882 15.8311.01
NEWMONT GOLDCORP CORPNEMGOLD AND SILVER607   19,085,207,800    17,719,960,689 2.3610.21
Disclaimer:

Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this blog is meant for educational and informational purposes only. Do your own research before investing and don’t risk more than you can afford to lose. This article expresses my own opinions, and I am not receiving compensation for it (other than from WhaleWisdom). I do not have a business relationship with any company whose stock is mentioned in this article. I or my associates may hold positions in the stocks discussed.