|
-- Posted Thursday, 7 October 2004 | Digg This Article
Denver, October 7 -- The American Stock Exchange (Amex) today announced they have begun publishing a new gold and silver index. The new “Amex Gold Miners Index” trades under the symbol GDM and is a modified market capitalization index currently comprised of 36 gold and silver companies. The new index includes both common stocks and ADRs (American Depository Receipts) of selected companies with a daily volume over the prior six months of a minimum 50,000 shares as well as a market capitalization of over $100 million. Thomas Rzepski, vice president of the Amex ETF Marketplace told GoldSeek.com, “We wanted to develop an index with a broader range of companies from explorers to senior producers. The index has been designed to be listed as an exchange traded fund so that option trading could occur in the future. You will currently find 36 gold and silver companies in the index and a rebalancing will occur every quarter.” “Seventeen of Amex listed companies are in this new gold and silver index. The bulk of these 17 are from Canada and were listed just within the past two years,” said John McGonegal, the senior vice president of Equities at the Amex. “What we are doing here at the Amex is really becoming a global player in the gold and mining industry. We are excited to have 17 of our companies in the new Amex Gold Miners Index and are looking to add more in the future. As gold has been hot over the past few years, the Amex provides perfect opportunities to access the U.S. capital markets, especially for the Canadian companies as there is a growing appetite in the gold area.” Mr. McGonegal added, “Over 30 companies [mining] have been listed with us and many are in the pipeline. When you look at this new gold and silver index, you will notice that only four are listed on the NASDAQ. The Amex provides listed companies with value added services including road shows, IR services and the AMEX Mining Conference, which gives companies an opportunity to present to institutional investors.” According to the Amex press release today, over the five-year period from September 30, 1999 through September 30, 2004, the Amex Gold Miners Index had a cumulative return of 92.99% and an annualized return of 14.04%. At 2:30 pm eastern time, GDM was trading slightly higher on the day around the 725 level. As of the launch of this index, the thirty-six gold and silver companies comprising the index and their weighting are listed below. Amex Gold Miners Index - GDM | Company | Symbol | Composition | Newmont Mining Corp | NEM | 13.39% | Barrick Gold | ABX | 9.03% | Gold Fields Ltd | GFI | 7.78% | Anglogold Ltd | AU | 6.67% | Placer Dome Inc | AEM | 6.39% | Freeport McMoran Copper & Gold 'b' | FCX | 5.54% | Goldcorp Inc. | GG | 4.47% | Compania Minas Buenavntra | BVN | 4.42% | Glamis Gold Ltd | GLG | 4.31% | Harmony Gold Mining Co., Ltd. | HMY | 4.13% | Kinross Gold Corp. | KGC | 4.99% | Wheaton River Minerals Ltd. | WHT | 3.04% | Meridian Gold, Inc. | MDG | 2.82% | Agnico Eagle Mines | AEM | 2.10% | IAMGOLD Corp. | IAG | 2.05% | Pan American Silver Corp. | PAAS | 2.01% | Bema Gold Corp. | BGO | 1.90% | Apex Silver Mines Ord | SIL | 1.76% | Coeur d'Alene Mines | CDE | 1.72% | Hecla Mining | HL | 1.51% | Eldorado Gold Corp. | EGO | 1.32% | Golden Star Resources | GSS | 1.31% | Cambior Inc. | CBJ | 1.26% | Randgold Resources Ltd | GOLD | 1.04% | Crystallex Intl. | KRY | 1.01% | Northgate Exploration Ltd. | NXG | 0.70% | Western Silver Corp. | WTZ | 0.69% | NovaGold Resources Inc. | NG | 0.61% | Royal Gold, Inc. | RGLD | 0.59% | Gammon Lake Resources Inc. | GRS | 0.56% | Northern Orion Resources, Inc. | NTO | 0.49% | Yamana Gold, Inc. | AUY | 0.41% | Miramar Mining | MNG | 0.32% | Great Basin Gold Ltd. | GBN | 0.24% | Canyon Resources Corp. | CAU | 0.18% | Randgold & Exploration Co., Ltd. | RANGY | 0.18% |
Note: Data Updated October, 2004* Overview: The Amex Gold Miners Index (GDM) is a modified market capitalization weighted index comprised of publicly traded companies involved primarily in the mining for gold and silver. The Index divisor was initially determined to yield a benchmark value of 500.00 at the close of trading on December 20, 2002. The Index includes common stocks or ADRs. | Trading Symbol: GDM (Traded on the AMEX) | Trading Hours: 9:30 to 14:02 EST | Initial Value: 500 on December 20, 2000 | Adjustments: Made quarterly. |
- Article written by: Peter Spina, GoldSeek.com © Gold Seek LLC, GoldSeek.com 2004 Note: The following article may be reproduced provided the article, in full, is used and mention to GoldSeek.com is given. Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. GoldSeek.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond GoldSeek.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. GoldSeek.com and employees associated with Gold Seek LLC do not trade the stocks mentioned in stock reports for one week prior to and one week following publication. The information presented in stock reports are not a specific buy or sell recommendation and is presented solely for informational purposes only. The author/publisher may or may not have a position in the securities and/or options relating thereto, & may make purchases and/or sales of these securities relating thereto from time to time in the open market or otherwise outside of the trading timeframe listed above. GoldSeek.com may have been compensated for their services in preparing and publishing this report. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.
-- Posted Thursday, 7 October 2004 | Digg This Article
Previous Articles
|
