The total stock market valuation of the world’s biggest mining companies is up a fairly modest 8% year to end-September and despite the good run is still $240 billion below the peak hit in the second quarter of 2022.
Ranks, value of gold stocks swell
The value of precious metals and royalty companies climbed by a combined $42 billion or 16% during the quarter and gold counters dominate the best performing ranks.
Were it not for the limited tradability of stock in Russia’s Polyus, which lost some ground over the three months despite gold’s stellar performance, bullion’s effect on the Top 50 would’ve been even more pronounced.
Canada’s Alamos Gold joins the top 50 for the first time with a more than 31% jump in value lifting it six places to number 48 with a valuation of $8.2 billion at the end of the quarter while the second quarter’s newcomer Pan American Silver (following its absorption of Yamana Gold)…
