Gold Miner Aurelia to Add Luster with Index Inclusion Macquarie...

Gold Miner Aurelia to Add Luster with Index Inclusion

Macquarie thinks now is a good time to get behind Aussie gold and base metals miner Aurelia Metals, given its likely inclusion in the GDXJ ETF index in an upcoming re-weighting next month. Aurelia qualifies for GDXJ inclusion as more than 50% of its revenue is derived from gold, and a recent selldown by a major shareholder has boosted liquidity in the stock. While Aurelia still needs to perform against internal targets, Macquarie notes "GDXJ constituents have generally outperformed non-GDXJ stocks on a 5-year return" and starts coverage of the stock at outperform. It estimates demand from inclusion will be 51.5 million shares. Source: Dow Jones Newswires.