By far one of the stand out sectors this year has been the gold mining stocks. The most popular ETF for participating in a basket of these stocks is the Market Vectors Gold Miners (NYSE: GDX). Its low price and liquidity make it an attractive vehicle for investors who wish to participate in this sector. But what about the stocks inside the GDX? Which stand out as strong individual names? Today we take a look at 3 of the best held by the GDX. 1 - Barrick Gold Corp. (NYSE: ABX) - leads the way with a whopping 81% gain on the year. Technical traders have been touting their success at catching the break out that occurred in January of this year. Regardless of the reason its clear that buyers have made up their mind about ABX.
2- AngloGold Ashanti (NYSE: AU) - also has had a stellar year so far gaining 81% as well. With numerous upgrades, and heavy institutional transactions it's clear that everyone from the company insiders to the public are bullish on AU.
3- Newmont Mining (NYSE: NEM) - One of the top holdings of GDX also happens to be one of the top performing Mining stocks. Newmont boasts a 43% gain on the year supported by heavy volume and a clear interest in the sector. Since the beginning of the year Newmont has been the recipient of 3 upgrades by large Wall Street analysts.
Gold mining stocks have certainly stood out in the first quarter but time will tell if they can hold their gains throughout the year.