Monday, October 18, 2010

Marc Faber Likes Ivanhoe (NYSE:IVN), Barrick (NYSE:ABx), Novagold (NYSE:NG), Gold Fields (NYSE: GFI), Newmont (NYSE:NEM)

Marc Faber, the contrarian investor and the real Dr. Doom of the marketplace, has been pushing the value of investing in gold for a number of years. He recently named the gold miners he likes at this time, which are Ivanhoe Mines (NYSE:IVN), Barrick Gold (NYSE:ABx), Novagold (NYSE:NG), Gold Fields (NYSE:GFI), Newmont Mining(NYSE:NEM), Gabriel Resources (TSE:GBU), Centamin Egypt (TSE:CEE) and Sprott Resource (TSE:SCP).

A little suspect is his Novagold pick, as he was recently named to the board of the company.

Barrick and Newmont are obvious as the large-cap miners. Ivanhoe is also among my favorites over the long term, although once their Oyu Tolgoi mine gets going, they will be more like Freeport-McMoran (NYSE:FCX) than primarily a gold miner, as the copper resources there are vast, although so are the gold resources.

Faber recently stated that he believes gold is still inexpensive, and investors should allocate resources to it on a monthly basis.

1 comment:

Anonymous said...

he's liked Nova for a couple of years!!