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Van Eck Associates Modifies Its Holdings in Precious Metal Producers

- By Alberto Abaterusso

During the fourth quarter, Van Eck Associates Corp. moved on the following 14 precious metals producers of which it is the top institutional holder.

This information can give a useful hint to investors, helping them implement appropriate strategies for gold and silver stocks. This is because top institutional holders do comprehensive research on their companies before buying and selling shares or opening and closing a position.


During the fourth quarter, Van Eck Associates Corp. decreased its holding in:

  • SSR Mining Inc. (SSRM) by 1.2% to 17,894,055 shares, or 14.89% of the company, as of Dec. 31.
  • Seabridge Gold Inc. (SA) by 20.5% to 3,077,331 shares, or 5.04% of the company as of Dec. 31.
  • Pan American Silver Corp. (PAAS) by 0.6% to 20,733,707 shares for a 13.51% stake as of Dec. 31.
  • First Majestic Silver Corp. (AG) by 1.7% to 25,277,075 shares for a 13.04% stake as of Dec. 31.
  • Fortuna Silver Mines Inc. (FSM) by 1.1% to 21,633,280 shares, or 13.53% of the company as of Dec. 31.



The New York-based investment management firm increased its position in:

  • Agnico Eagle Mines Limited (AEM) by 0.4% to 15,928,712 shares for a 6.77% stake as of Dec. 31.
  • Pretium Resources Inc. (PVG) by 1.9% to 25,449,817 shares, or 13.88% of the company as of Dec. 31.
  • Coeur Mining, Inc. (CDE) by 14.5% to 24,967,902 shares for a 12.28% stake as of Dec. 31.
  • Hecla Mining Company (HL) by 1.9% to 60,487,065 shares, or 12.59% of the company as of Dec. 31.
  • Yamana Gold Inc. (AUY) by 3.5% to 139,006,204 shares, or 14.64% of the company as of Dec. 31.
  • IAMGOLD Corporation (IAG) by 3.6% to 71,730,048 shares for a 15.38% stake as of Dec. 31.
  • Kinross Gold Corporation (KGC) by 116.5% to 187,786,337 shares, or 15.01% of the company as of Dec. 31.
  • Gold Fields Limited (GFI) by 0.2% to 108,516,599 shares, or 13.21% of the company as of Dec. 31.



In addition, Van Eck Associates Corp. reported that it owns 20,364,044 shares of Eldorado Gold Corp. (EGO) for a 12.82% stake as of Dec. 31.

The following table shows for each stock the share price and the market capitalization at close Monday, the percentage of increase or decrease for the 52 weeks through Monday and the 52-week range.

Stock

Share price at close on Monday, Feb. 11

The market capitalization

The 52-week range

The percentage of increase or decrease for the past year through Monday

SSR Mining Inc.

$13.85

$1.7 billion

$7.64 - $14.12

+65.5%

Seabridge Gold

$13.34

$815.6 million

$10.20 - $15.30

+28.3%

Pan American Silver Corp.

$14.43

$2.2 billion

$12.12 - $18.75

-8.7%

First Majestic Silver Corp.

$5.99

$1.2 billion

$4.59 - $8.48

+6.9%

Fortuna Silver Mines Inc.

$3.83

$612 million

$3.16 - $6.08

-16.6%

Agnico Eagle Mines Limited

$42.55

$9.9 billion

$32.18 - $47.83

-3.4%

Pretium Resources Inc.

$7.66

$1.4 billion

$6.17 - $9.84

+8.7%

Coeur Mining, Inc.

$5.04

$1.02 billion

$3.8 - $8.89

-34.4%

Hecla Mining Company

$2.58

$1.2 billion

$2.17 - $4.15

-31.2%

Yamana Gold Inc.

$2.74

$2.6 billion

$2 - $3.53

-16.8%

IAMGOLD Corporation

$3.5

$1.6 billion

$2.75 - $6.33

-36.9%

Kinross Gold Corporation

$3.33

$4.2 billion

$2.38 - $4.30

-16.8%

Gold Fields Limited

$3.65

$2.9 billion

$2.2 to $4.29

-9.4%

Eldorado Gold Corporation

$4.02

$637.7 million

$2.52 - $6.05

-30.7%



Disclosure: I have no positions in any securities mentioned.

This article first appeared on GuruFocus.