Comparison of iShares Silver Trust and Sprott Gold Miners ETF
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 24 2026
0mins
Source: Fool
- Investment Strategy Differences: iShares Silver Trust (SLV) directly tracks physical silver prices, while Sprott Gold Miners ETF (SGDM) invests in a focused basket of gold mining stocks, both with an expense ratio of 0.50%.
- Performance Comparison: As of April 22, 2026, SLV's one-year return stands at 138.5%, significantly outperforming SGDM's 83.2%, indicating strong performance in silver that may attract high-return-seeking investors.
- Risk and Volatility: SLV's maximum drawdown over five years is -42.45%, compared to SGDM's -45.05%, with SGDM exhibiting a higher beta of 0.79, suggesting greater price volatility, which investors should consider based on their risk tolerance.
- Asset Composition Characteristics: SGDM holds 39 companies primarily focused on gold mining in the U.S. and Canada, with top positions comprising over a quarter of the fund, while SLV is entirely tied to silver prices, mitigating company-specific risks and appealing to investors seeking stability.
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Analyst Views on AEM
Wall Street analysts forecast AEM stock price to rise
13 Analyst Rating
7 Buy
5 Hold
1 Sell
Moderate Buy
Current: 187.770
Low
1.60
Averages
231.12
High
337.00
Current: 187.770
Low
1.60
Averages
231.12
High
337.00
About AEM
Agnico Eagle Mines Limited is a Canada-based and led senior gold mining company. The Company has operating mines in Canada, Australia, Finland and Mexico. It has over 70% interest in Fingold Ventures Ltd. Its operations and development projects include LaRonde Complex, Canadian Malartic Complex, Goldex Complex, Detour Lake, Macassa, Meliadine, Meadowbank Complex, Fosterville, Pinos Altos, and Kittila. Its exploration projects include Hammond Reef, Hope Bay, Upper Beaver, San Nicolas, Wasamac. Its Canadian Malartic Complex is in northwestern Quebec which consist of the Canadian Malartic mines and the Odyssey mine. The Fosterville mine is a high-grade, low-cost underground gold mine, located approximately 20 kilometers (km) from the city of Bendigo. Its Kittila mine is located in the Lapland region of northern Finland, over 150 km north of the Arctic circle. Pinos Altos is located in the mountainous region of northern Mexico, 220 km of the city of Chihuahua.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Investment Opportunities in Mining Stocks
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- Copper's Profit Contribution: In fiscal year 2025, copper accounted for 45% of BHP's EBITDA, and in the first six months of fiscal year 2026, this figure exceeded 50% for the first time, indicating a growing reliance on copper as the company transforms its portfolio.
- Agnico Eagle's Cost Advantage: Agnico Eagle Mines maintains an all-in sustaining cost of $1,400 to $1,550 per ounce of gold, achieving a realized gold price of $4,861 per ounce in Q1, driving record quarterly operating margins and showcasing its competitive edge in low-risk regions.
- Utilization of Renewable Energy: Agnico Eagle's mines leverage renewable energy sources like hydroelectric power and wind energy, reducing dependence on diesel, which accounts for only about 10% of total operating costs, thus enhancing resilience amid rising fuel prices.
See More
BHP and Agnico Eagle Mining Outlook Analysis
- Rising Copper Demand: BHP projects global copper demand will increase from 33 million tons today to over 50 million tons by 2050, reflecting the company's strategic focus on electrification and renewable energy, which is expected to drive future revenue growth.
- Profitability Enhancement: BHP's copper EBITDA contribution rose from 29% to 45% in fiscal 2025, exceeding 50% for the first time in the first half of fiscal 2026, indicating the increasing importance of copper to the company's overall profitability.
- Cost Advantage: Agnico Eagle's all-in sustaining costs (AISC) range between $1,400 and $1,550 per ounce, with a realized gold price of $4,861 in Q1, driving record quarterly operating margins and showcasing its strong competitive profitability.
- Energy Cost Protection: Agnico Eagle's diesel costs account for only 10% of total operating costs, with half of its diesel exposure hedged, providing relative insulation against rising fuel prices, enhancing its attractiveness to investors.
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- Investor Sentiment Shift: Jim Cramer expresses a pessimistic view on gold during his show, highlighting that changes in market sentiment may lead investors to reassess their asset allocations, particularly in the precious metals sector.
- Market Strategy Adjustment: As the outlook for both Domino's Pizza and gold becomes more cautious, investors may need to reconsider their investment strategies to navigate potential market volatility and uncertainty.
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- Clear Financing Strategy: The company secured a gold loan facility of up to $25 million and locked in a C$3.8 million convertible debenture financing, ensuring liquidity for project development activities while minimizing market dilution risks.
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- Enhanced Strategic Partnerships: Lake Victoria Gold has established strategic partnerships with Barrick Gold and Taifa Group, the latter having extensive mining experience in Tanzania, providing robust support for the Imwelo project and ensuring its smooth advancement.
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Lake Victoria Gold Advances Imwelo Project Development
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- Strong Technical Foundation: Metallurgical testing at the Imwelo project indicates gold recovery rates of up to 97%, with drilling in Area C revealing grades of 11.88 g/t gold, suggesting mineralization extends beyond current designs, potentially enhancing project economics.
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Analysis of GDX ETF's 52-Week Price Fluctuations
- Price Range Analysis: The GDX ETF's 52-week low is $45.10 per share, with a high of $117.175, while the last trade was at $95.71, indicating stability within its volatility range and potential investment opportunities.
- Technical Analysis Tool: Comparing the current share price to the 200-day moving average provides investors with deeper market trend insights, aiding in the formulation of more effective trading strategies.
- ETF Trading Mechanism: ETFs trade similarly to stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting the ETF's liquidity and market performance.
- Liquidity Monitoring: Weekly monitoring of changes in shares outstanding allows for the observation of significant inflows or outflows, enabling timely portfolio adjustments and optimized asset allocation.
See More
Investment Opportunities in Mining Stocks
- BHP's Market Leadership: As the world's largest mining company by market capitalization, BHP focuses on critical resources like copper, iron ore, and potash, projecting global copper demand to rise from 33 million tons today to over 50 million tons by 2050, highlighting its strategic importance in renewable energy and electric vehicles.
- Copper's Profit Contribution: In fiscal year 2025, copper accounted for 45% of BHP's EBITDA, and in the first six months of fiscal year 2026, this figure exceeded 50% for the first time, indicating a growing reliance on copper as the company transforms its portfolio.
- Agnico Eagle's Cost Advantage: Agnico Eagle Mines maintains an all-in sustaining cost of $1,400 to $1,550 per ounce of gold, achieving a realized gold price of $4,861 per ounce in Q1, driving record quarterly operating margins and showcasing its competitive edge in low-risk regions.
- Utilization of Renewable Energy: Agnico Eagle's mines leverage renewable energy sources like hydroelectric power and wind energy, reducing dependence on diesel, which accounts for only about 10% of total operating costs, thus enhancing resilience amid rising fuel prices.
See More
BHP and Agnico Eagle Mining Outlook Analysis
- Rising Copper Demand: BHP projects global copper demand will increase from 33 million tons today to over 50 million tons by 2050, reflecting the company's strategic focus on electrification and renewable energy, which is expected to drive future revenue growth.
- Profitability Enhancement: BHP's copper EBITDA contribution rose from 29% to 45% in fiscal 2025, exceeding 50% for the first time in the first half of fiscal 2026, indicating the increasing importance of copper to the company's overall profitability.
- Cost Advantage: Agnico Eagle's all-in sustaining costs (AISC) range between $1,400 and $1,550 per ounce, with a realized gold price of $4,861 in Q1, driving record quarterly operating margins and showcasing its strong competitive profitability.
- Energy Cost Protection: Agnico Eagle's diesel costs account for only 10% of total operating costs, with half of its diesel exposure hedged, providing relative insulation against rising fuel prices, enhancing its attractiveness to investors.
See More
Domino's Pizza Stock Performance Analysis
- Stock Performance Assessment: Domino's Pizza has shown poor stock performance this year, with analysts indicating that despite its potential, the current market environment is unfavorable, suggesting a need for a quarter's observation period before making further investment decisions.
- Gold Market Outlook: Analysts at Agnico Eagle Mines express a bearish outlook on the gold market, citing renowned analyst Larry Williams' perspective that gold prices are likely to decline further, which could impact the investment appeal of related mining companies.
- Investor Sentiment Shift: Jim Cramer expresses a pessimistic view on gold during his show, highlighting that changes in market sentiment may lead investors to reassess their asset allocations, particularly in the precious metals sector.
- Market Strategy Adjustment: As the outlook for both Domino's Pizza and gold becomes more cautious, investors may need to reconsider their investment strategies to navigate potential market volatility and uncertainty.
See More
Lake Victoria Gold Advances Tanzanian Project with New Drilling Program
- Project Acceleration: Lake Victoria Gold has mobilized drilling rigs for a ~21-day program at the Imwelo Gold Project in Tanzania, with a target of 1,050 meters to confirm infrastructure locations, ensuring no interference with future mineral extraction, marking a transition from permitting to construction.
- Clear Financing Strategy: The company secured a gold loan facility of up to $25 million and locked in a C$3.8 million convertible debenture financing, ensuring liquidity for project development activities while minimizing market dilution risks.
- Solid Technical Foundation: Imwelo has confirmed gold recovery rates of up to 97% in metallurgical tests, with drilling results indicating mineralization extending beyond current designs, potentially simplifying extraction structures and enhancing economic viability.
- Enhanced Strategic Partnerships: Lake Victoria Gold has established strategic partnerships with Barrick Gold and Taifa Group, the latter having extensive mining experience in Tanzania, providing robust support for the Imwelo project and ensuring its smooth advancement.
See More
Lake Victoria Gold Advances Imwelo Project Development
- Drilling Work Commences: Lake Victoria Gold mobilizes reverse circulation drill rigs to the Imwelo project site, with a scheduled 21-day, 1,050-meter sterilization drilling program aimed at ensuring construction facilities do not interfere with mineralized ground, thereby reducing future construction risks.
- Financing Structure Solidified: The company has secured a $25 million gold loan agreement with Monetary Metals and locked in a C$3.8 million convertible debenture financing, providing funding assurance for near-term project development while avoiding share dilution.
- Strong Technical Foundation: Metallurgical testing at the Imwelo project indicates gold recovery rates of up to 97%, with drilling in Area C revealing grades of 11.88 g/t gold, suggesting mineralization extends beyond current designs, potentially enhancing project economics.
- Regulatory Progress Made: The Tanzanian government has begun incorporating its 16% statutory free-carried interest in the Tembo mining licenses, signaling advancement of Lake Victoria Gold's second 100% owned project within the regulatory framework, thereby boosting market confidence.
See More
Analysis of GDX ETF's 52-Week Price Fluctuations
- Price Range Analysis: The GDX ETF's 52-week low is $45.10 per share, with a high of $117.175, while the last trade was at $95.71, indicating stability within its volatility range and potential investment opportunities.
- Technical Analysis Tool: Comparing the current share price to the 200-day moving average provides investors with deeper market trend insights, aiding in the formulation of more effective trading strategies.
- ETF Trading Mechanism: ETFs trade similarly to stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting the ETF's liquidity and market performance.
- Liquidity Monitoring: Weekly monitoring of changes in shares outstanding allows for the observation of significant inflows or outflows, enabling timely portfolio adjustments and optimized asset allocation.
See More
