By the Time the Crowd Notices Miners, This Window Will Be Closed
Something odd is happening in the precious metals miners space. And it’s presenting investors with an extraordinary opportunity. To understand what I mean we first need to assess the macro environment for these companies.
Let’s wind the clocks back a year.
Gold was trading at $3,200 per ounce. Silver was trading at $35 per ounce.
Today gold is over $4,500 per ounce and silver is around $75 per ounce. These are truly historic gains of 40% and 114% in a year, respectively.
And they represent a seismic shift for the precious metals miners complex.
As Tavi Costa recently noted, precious metals miners now have the highest profit margins of any sector in the stock market, beating even Tech. The average senior producer is mining gold at an all-in cost of around $1,800 an ounce… and selling its ore for more than double that.
Put simply record, or near record gold prices mean record margins and record cash flow.
And the stocks are still cheap.
Gold majors like Newmont (NEM), Agnico Eagle (AEM.TO) and Barrick (B) trade at Forward Price to Earnings (P/E) multiples of 10, 13, and 10, respectively. Five years ago, these multiples were twice as high. These companies are literally printing money and increasing returns to shareholders via buybacks and dividends.
Mid-tier companies are even cheaper. El Dorado Gold (EGO) trades at a forward P/E of 7. B2Gold (BTG) trades at a forward P/E of 5. IAMGOLD (IAG) trades at a forward P/E of 7. Five years ago they were significantly higher.
These kinds of situations don’t last for long. Capital flows to where it’s treated best, and precious metals miners are one of the most profitable, undervalued sectors in the market.
On that note, we just published a Special Investment Report concerning FIVE secret investments you can use profit from the next major bull run in precious metals miners.
The report is titled Survive the Inflationary Storm. And it explains my top precious metals plays, including their names, their symbols, and the resources they own. These are HIGH OCTANE positions that rallied 75%, 140%, 150%, 180%, 280% and an incredible 574% in 2025. And I wouldn’t be surprised to see them repeat this performance in 2026.
Normally I’d charge $499 for this report as a standalone item, but in light of what is unfolding today, we are making just 100 copies available to the public.
To grab one of the last remaining copies…
Best Regards
Graham Summers
Chief Market Strategist
Phoenix Capital Research