Canadian commodity hedge fund manager Eric Sprott was shifting his precious metals-focused bets during Q1 as the huge bull run for gold and silver continued.
In recent months, Sprott has been particularly bullish on silver, as the metal went stratospheric before pulling back sharply in commodities trading. In an interview in early April, Sprott predicted silver could go to $100 an ounce and called it “the investment of this decade.” In early May, he called the underperformance of silver miners as compared to the metal itself, “shocking.”
A look at Sprott Asset Management’s top-15 U.S.-listed equity holdings from the end of Q1 shows that the bullion-backed Sprott Physical Gold Trust ETV (PHYS), which debuted in early 2010, remained the firm’s largest position. Sprott also introduced a similar, silver-backed entity in late 2010, the Sprott Physical Silver Trust (PSLV). Elsewhere, Sprott was putting capital to work, with a new stake in gold miner Extorre Gold Mines (XG) and increased stakes in Yamana Gold (AUY), Brigus Gold (BRD), Eldorado Gold (EGO), and Sprott Resource Lending (SILU), a Sprott-controlled firm that provides funding for commodities companies.
Elsewhere, Sprott was trimming stakes in Barrick Gold (ABX), Golden Minerals (AUMN), Alexco Resource (AXU), Claude Resources (CGR), IAMGold (IAG) and Exeter Resource (XRA). Sprott was reducing its largest silver bets in the three months ended March 31. Sprott slashed its Silver Wheaton (SLW) and First Majestic Silver (AG) stakes during the period, but the latter was nonetheless the firm’s second-largest equity holding heading into Q2.
In recent months, Sprott has been particularly bullish on silver, as the metal went stratospheric before pulling back sharply in commodities trading. In an interview in early April, Sprott predicted silver could go to $100 an ounce and called it “the investment of this decade.” In early May, he called the underperformance of silver miners as compared to the metal itself, “shocking.”
A look at Sprott Asset Management’s top-15 U.S.-listed equity holdings from the end of Q1 shows that the bullion-backed Sprott Physical Gold Trust ETV (PHYS), which debuted in early 2010, remained the firm’s largest position. Sprott also introduced a similar, silver-backed entity in late 2010, the Sprott Physical Silver Trust (PSLV). Elsewhere, Sprott was putting capital to work, with a new stake in gold miner Extorre Gold Mines (XG) and increased stakes in Yamana Gold (AUY), Brigus Gold (BRD), Eldorado Gold (EGO), and Sprott Resource Lending (SILU), a Sprott-controlled firm that provides funding for commodities companies.
Elsewhere, Sprott was trimming stakes in Barrick Gold (ABX), Golden Minerals (AUMN), Alexco Resource (AXU), Claude Resources (CGR), IAMGold (IAG) and Exeter Resource (XRA). Sprott was reducing its largest silver bets in the three months ended March 31. Sprott slashed its Silver Wheaton (SLW) and First Majestic Silver (AG) stakes during the period, but the latter was nonetheless the firm’s second-largest equity holding heading into Q2.
Aucun commentaire:
Enregistrer un commentaire