VanEck Gold Miners ETF (NYSEARCA:GDX) Reaches New 12-Month High – Still a Buy?

VanEck Gold Miners ETF (NYSEARCA:GDX)’s share price reached a new 52-week high on Thursday . The company traded as high as $52.81 and last traded at $51.91, with a volume of 36567568 shares. The stock had previously closed at $50.53.

VanEck Gold Miners ETF Stock Performance

The company’s 50 day simple moving average is $43.44 and its 200-day simple moving average is $39.89. The firm has a market capitalization of $16.84 billion, a PE ratio of 21.51 and a beta of 0.84.

Institutional Investors Weigh In On VanEck Gold Miners ETF

Large investors have recently added to or reduced their stakes in the business. Eastern Bank purchased a new stake in VanEck Gold Miners ETF in the fourth quarter worth approximately $25,000. Financial Connections Group Inc. bought a new stake in shares of VanEck Gold Miners ETF in the 4th quarter worth approximately $25,000. Roxbury Financial LLC purchased a new position in VanEck Gold Miners ETF during the 4th quarter valued at $25,000. Investors Research Corp boosted its stake in shares of VanEck Gold Miners ETF by 57.3% during the 1st quarter. Investors Research Corp now owns 689 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 251 shares in the last quarter. Finally, Rothschild Investment LLC increased its position in shares of VanEck Gold Miners ETF by 100.0% during the fourth quarter. Rothschild Investment LLC now owns 1,000 shares of the exchange traded fund’s stock valued at $34,000 after buying an additional 500 shares during the period.

VanEck Gold Miners ETF Company Profile

The Fund seeks to match as closely as possible the price and yield performance of the AMEX Gold Miners Index. The Fund, utilizing a passive or indexing investment approach, attempts to approximate the investment performance of the Index by investing in a portfolio of stocks that generally replicate the Index.