If you put a gun to my head and made me pick for myself, I would probably pick NEM for the dividend, but I think Kinross is the best overall value. I would say IAG is actually the best overall total value in the space among large miners, but Iamgold does not qualify as a senior miner at only 900k oz/yr. I am avoiding Barrick like I have forever. They had insane moronic hedges that destroyed tens of billions in value. They have a lot of debt too and Pascua Lama is going to cost $9B! NO THANKS! Gold Fields, well, if SA ever gets their stuff straightened out. They do have great assets outside SA and very cheap, but I am loathe to add. Yamana seems too rich but they have done well integrating new mines. Anglo? Are you serious? LOL
The smart thing, and always has been in this sector, is to buy the emerging junior and midtier producers for full upside on the next PM upleg. The explorers and developers must be handled with caution and are for experienced (and rich) investors. And it would be smart to look at silver miners, as silver is more undervalued than gold, and silver producers are valued even cheaper on PE basis than gold miners. AG is the leader, but PAAS is a 30M oz Ag-eq producer including strong gold byproduct and only
Why buy the miners when there are all kinds of leveraged funds available: 2X long, 2X short, 3X long, 3X short, by ProShares, VelocityShares, Direxion for almost every commodity one can think of. 10X leveraged ETFs will surely be introduced at some point which will eliminate all productive economic activity.