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Does MM prefer RRL or EVN for gold exposure?

Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

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Does MM prefer RRL or EVN for gold exposure?

Hi MM Team, In this Thursday morning report you indicated EVN was you pick of the gold sector. A couple of weeks ago you also showed an interest in RRL Is there any point moving from RRL to EVN or are all boats going likely to float equally? Alain

Answer

Hi Alain,

We like both gold stocks although we now hold EVN in our Flagship Growth Portfolio after purchasing it on Thursday with the main difference between the 2 being their theoretical risk profile, or Beta.

Following golds bullish move after Jerome Powell’s relatively dovish comments last week both stocks immediately rallied strongly with EVN +6.3% and RRL +3.6% but through November they surged higher almost in tandem i.e. RRL +27% and EVN +29%. As you can see there’s not a great deal between them at this stage and we wouldn’t be advocating switching between either, we simply plumbed for EVN this week believing it dovetails into our Flagship Growth Portfolio better, had we bought for our Emerging Companies Portfolio we may have have chosen RRL.

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Evolution Mining (EVN)
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