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Trend Analysis of SGGDX’s Top Holdings

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Dec. 31 2015, Updated 10:06 a.m. ET

Upside moving trend

Franco Nevada (FNV), Randgold Resources (GOLD), Thor Industries (THO), Genpact (G), and Agnico Eagle Mines (AEM) are the top equity stock holdings of the First Eagle Gold Fund Class ­A (SGGDX). Physical gold and gold-related stocks form the major part of SGGDX’s portfolio. Due to the overall poor performance of the metal and mining sectors, all the top stocks in SGGDX’s holdings are trading below their 20-day moving averages.

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Thor Industries, Genpact, and Agnico Eagle Mines are trading at 1.8%, 2.7%, and 2.6% above their respective 100-day moving averages. On the other hand, Randgold Resources is trading below its 100-day moving average by 2%. The table above shows the moving averages, forward target prices, and returns of SGGDX’s top holdings.

Analyst estimates

The one-year price estimates according to a Bloomberg survey indicate an upside for all of SGGDX’s top holdings. Randgold Resources and Agnico Eagle Mines have the highest estimates, with about 28.3% and 24.8%, respectively, from the current levels in the next 12 months. Franco Nevada and Thor Industries have upside targets of 20.2% and 22.7%, respectively, from the current levels. These top holdings represent 38.5% of SGGDX’s total assets. In the next part of this series, we’ll outline SGGDX’s investment methodology.

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