Gold Miner ETF (RING) Hits New 52-Week High
For investors seeking momentum, iShares MSCI Global Gold Miners ETF RING is probably on the radar. The fund just hit a 52-week high and has moved up 53.4% from its 52-week low of $25.70 per share. Are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:RING in FocusiShares MSCI Global Gold Miners ETF offers exposure to companies that derive the majority of their revenues from gold mining. Canadian firms take more than half of the portfolio, while the United States takes the next spot with 18.8% share. RING is the cheapest choice in the gold mining space, charging just 39 bps in fees and expenses (see: all the Materials ETFs here).Why the MoveThe gold mining sector of the broad stock market has been an area to watch lately, given the unstoppable rally in the metal’s price. The bullion topped $3,200 for the first time after breaching $3,100 just a few days before. Strong safe-haven demand amid Trump’s tariff chaos has been driving gold higher. The potential for faster-than-expected Fed rate cuts and a weak dollar are adding further shine to the yellow metal.More Gains Ahead?RING has a weighted alpha of 50.94 and a 20-day volatility of 49.39%, which shows that there is still some promise for investors who want to ride on this surging ETF.Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report iShares MSCI Global Gold Miners ETF (RING): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
