Forget gold, ‘torque is with equities’ says mining giant Yamana’s Peter Marrone – Source – Kitco News (09/01/2020)

Although gold equities have seen a substantial rally this year, with the VanEck Vectors Gold Miners ETF (GDX), up 45% year to date, the mining sector as a whole is still undervalued, according to Peter Marrone, executive chairman of Yamana Gold.

“I think that this is the time to be invested in equities, more than the time to be invested in the metal itself. Admittedly, there’s more operational issue that one needs to be sensitive to when investing in equities but my view torque really is with equities now rather than with the metal itself,” Marrone told Kitco News. Yamana Gold shares rose 61% year to date, outperforming both the gold bullion and the gold miners’ index. Marrone said that the way forward for miners to differentiate themselves from the gold bullion is to pay dividends.



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