Mayfair Gold (MINE)
Market Price (8/24/2026): $3.06 | Market Cap: $205.4 MilSector: Materials | Industry: Gold
Mayfair Gold (MINE)
Market Price (8/24/2026): $3.06Market Cap: $205.4 MilSector: MaterialsIndustry: Gold
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% Megatrend and thematic driversMegatrends include Strategic Materials & Resource Development. Themes include Gold Exploration & Development, Precious Metals Mining, and Sustainable Mining Practices. | Weak multi-year price returns2Y Excs Rtn is -42%, 3Y Excs Rtn is -78% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -21 Mil Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14% Key risksMINE key risks include [1] execution risk tied to permitting and building its single flagship project, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% |
| Megatrend and thematic driversMegatrends include Strategic Materials & Resource Development. Themes include Gold Exploration & Development, Precious Metals Mining, and Sustainable Mining Practices. |
| Weak multi-year price returns2Y Excs Rtn is -42%, 3Y Excs Rtn is -78% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -21 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14% |
| Key risksMINE key risks include [1] execution risk tied to permitting and building its single flagship project, Show more. |
Qualitative Assessment
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Mayfair Gold (MINE) stock has gained about 5% since 4/30/2026 because of the following key factors:
1. Increased Operating Losses and Cash Runway Concerns Amidst Project Advancement.
Mayfair Gold reported a significant increase in its net loss for fiscal Q2 2026 (ended June 30, 2026), reaching CAD 7.35 million, compared to CAD 2.11 million in the corresponding quarter of the previous year. This expanded loss was primarily driven by higher exploration and evaluation spending, which totaled CAD 9.97 million year-to-date, alongside increased general and administrative expenses, including costs associated with its NYSE American listing. While management characterized the company's liquidity risk as minimal, holding $22.95 million in cash and cash equivalents against current liabilities of $2.84 million as of June 30, 2026, some analyses indicate a major risk of less than one year of cash runway based on the current free cash flow trend of -CA$22 million, suggesting potential future funding requirements and shareholder dilution.
2. Long-Term Development Timeline and Substantial Capital Requirements for Fenn-Gib Project.
The company's primary asset, the Fenn-Gib gold project, remains in the development stage, with a Pre-Feasibility Study (PFS) released in January 2026 outlining an initial capital investment of C$450 million. Although the PFS projects robust economics, including a 2.7-year payback period and cumulative free cash flow of US$896 million over the first six years of production at a US$3,100/oz gold price, the targeted construction commencement is 2028, with initial gold production anticipated in 2030. This extended timeline to commercial production and the substantial upfront capital expenditure likely tempered immediate investor sentiment, balancing the positive long-term project economics.
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Mayfair Gold (MINE) stock has gained about 5% since 4/30/2026 because of the following key factors:
1. Increased Operating Losses and Cash Runway Concerns Amidst Project Advancement.
Mayfair Gold reported a significant increase in its net loss for fiscal Q2 2026 (ended June 30, 2026), reaching CAD 7.35 million, compared to CAD 2.11 million in the corresponding quarter of the previous year. This expanded loss was primarily driven by higher exploration and evaluation spending, which totaled CAD 9.97 million year-to-date, alongside increased general and administrative expenses, including costs associated with its NYSE American listing. While management characterized the company's liquidity risk as minimal, holding $22.95 million in cash and cash equivalents against current liabilities of $2.84 million as of June 30, 2026, some analyses indicate a major risk of less than one year of cash runway based on the current free cash flow trend of -CA$22 million, suggesting potential future funding requirements and shareholder dilution.
2. Long-Term Development Timeline and Substantial Capital Requirements for Fenn-Gib Project.
The company's primary asset, the Fenn-Gib gold project, remains in the development stage, with a Pre-Feasibility Study (PFS) released in January 2026 outlining an initial capital investment of C$450 million. Although the PFS projects robust economics, including a 2.7-year payback period and cumulative free cash flow of US$896 million over the first six years of production at a US$3,100/oz gold price, the targeted construction commencement is 2028, with initial gold production anticipated in 2030. This extended timeline to commercial production and the substantial upfront capital expenditure likely tempered immediate investor sentiment, balancing the positive long-term project economics.
3. Volatile Yet Recovering Macro Gold Price Environment.
The broader gold market experienced mixed trends during the period, contributing to the stock's relatively stable performance. After reaching record highs around $5,600 per ounce in January 2026, gold prices underwent a significant correction, falling below $4,400 per ounce, with fiscal Q2 2026 marking the worst quarter for gold since 2013, ending approximately 16% lower. However, towards the end of the specified period, the price of gold showed a recovery, rising 8.73% in the month leading up to August 18, 2026, and maintaining levels above $4,000 per ounce. This fluctuation in the underlying commodity's value likely created a dynamic equilibrium of investor sentiment for Mayfair Gold, preventing a strong directional move in its stock price.
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Stock Movement Drivers
Fundamental Drivers
The 4.4% change in MINE stock from 4/30/2026 to 8/23/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302026 | 8232026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.95 | 3.08 | 4.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 67 | 67 | -0.4% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2026 to 8/23/2026| Return | Correlation | |
|---|---|---|
| MINE | 4.4% | |
| Market (SPY) | 6.5% | 15.0% |
| Sector (XLB) | 4.0% | 11.6% |
Fundamental Drivers
The -25.4% change in MINE stock from 1/31/2026 to 8/23/2026 was primarily driven by a -15.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312026 | 8232026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.13 | 3.08 | -25.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 57 | 67 | -15.7% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2026 to 8/23/2026| Return | Correlation | |
|---|---|---|
| MINE | -25.4% | |
| Market (SPY) | 11.0% | 27.0% |
| Sector (XLB) | 9.2% | 27.4% |
Fundamental Drivers
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Market Drivers
7/31/2025 to 8/23/2026| Return | Correlation | |
|---|---|---|
| MINE | ||
| Market (SPY) | 22.2% | 26.1% |
| Sector (XLB) | 23.8% | 26.4% |
Fundamental Drivers
nullnull
Market Drivers
7/31/2023 to 8/23/2026| Return | Correlation | |
|---|---|---|
| MINE | ||
| Market (SPY) | 73.2% | 26.1% |
| Sector (XLB) | 31.8% | 26.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MINE Return | - | - | - | - | 10% | -12% | -4% |
| Peers Return | -23% | -25% | 18% | 30% | 189% | 11% | 184% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| MINE Win Rate | - | - | - | - | 100% | 38% | |
| Peers Win Rate | 44% | 43% | 45% | 57% | 75% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| MINE Max Drawdown | - | - | - | - | - | -53% | |
| Peers Max Drawdown | -43% | -63% | -35% | -28% | -23% | -46% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: IAG, EQX, EGO, OGC, DC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/21/2026 (YTD)
How Low Can It Go
MINE has limited trading history. Below is the Materials sector ETF (XLB) in its place.
| Event | XLB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -17.0% | -18.8% |
| % Gain to Breakeven | 20.5% | 23.1% |
| Time to Breakeven | 84 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -12.5% | -9.5% |
| % Gain to Breakeven | 14.3% | 10.5% |
| Time to Breakeven | 52 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -23.5% | -24.5% |
| % Gain to Breakeven | 30.7% | 32.4% |
| Time to Breakeven | 456 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -36.2% | -33.7% |
| % Gain to Breakeven | 56.8% | 50.9% |
| Time to Breakeven | 114 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -18.3% | -19.2% |
| % Gain to Breakeven | 22.4% | 23.8% |
| Time to Breakeven | 101 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -17.9% | -12.2% |
| % Gain to Breakeven | 21.7% | 13.9% |
| Time to Breakeven | 52 days | 62 days |
In The Past
State Street Materials Select Sector SPDR ETF's stock fell -17.0% during the 2025 US Tariff Shock. Such a loss loss requires a 20.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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MINE has limited trading history. Below is the Materials sector ETF (XLB) in its place.
| Event | XLB | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -23.5% | -24.5% |
| % Gain to Breakeven | 30.7% | 32.4% |
| Time to Breakeven | 456 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -36.2% | -33.7% |
| % Gain to Breakeven | 56.8% | 50.9% |
| Time to Breakeven | 114 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -23.8% | -6.8% |
| % Gain to Breakeven | 31.2% | 7.3% |
| Time to Breakeven | 171 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -28.2% | -17.9% |
| % Gain to Breakeven | 39.3% | 21.8% |
| Time to Breakeven | 459 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -56.6% | -53.4% |
| % Gain to Breakeven | 130.3% | 114.4% |
| Time to Breakeven | 701 days | 1085 days |
In The Past
State Street Materials Select Sector SPDR ETF's stock fell -17.0% during the 2025 US Tariff Shock. Such a loss loss requires a 20.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Mayfair Gold (MINE)
Mayfair Gold Corp. (TSXV: MINE) is a Canadian mineral exploration and development company focused on advancing gold deposits. The company's core business involves the acquisition, exploration, and development of mineral properties, with the ultimate goal of identifying and delineating economically viable gold resources for future extraction.
Its primary asset is the 100%-owned Fenn-Gib gold project, strategically located in northeast Ontario, Canada. This extensive project covers over 1,877 hectares and comprises a combination of patented properties, unpatented mining claims, and mining leases. Mayfair Gold primarily serves the investment community, particularly those seeking exposure to the junior gold mining sector and the potential for significant gold discovery and resource development within a stable and prolific mining region.
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- A startup Barrick Gold (GOLD) for a single, promising gold deposit in Ontario.
- An early-stage Newmont (NEM) focused on one major Canadian gold project.
- An aspiring Agnico Eagle Mines (AEM), focused on its first major gold discovery in Canada.
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- Gold Exploration: Identifying and evaluating potential gold deposits within its mineral properties.
- Gold Project Development: Advancing identified gold projects towards future mining operations and potential production.
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Mayfair Gold Corp. (MINE) is a mineral exploration and development company, primarily focused on exploring for gold deposits. As an exploration company, it is engaged in identifying, evaluating, and developing mineral resources, rather than producing and selling a finished product like refined gold.
Therefore, Mayfair Gold Corp. does not have traditional "major customers" in the sense of companies or individuals purchasing its products or services. Its primary activities involve capital expenditure on exploration and project development, funded by investors.
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- ALS Global (ASX: ALQ)
- Heath & Sherwood Drilling Inc.
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Drew Anwyll, Chief Executive Officer
Mr. Anwyll is a Professional Engineer with over 30 years of experience in project and operating roles in Canada and globally. He has worked extensively with companies including Generation Mining, Detour Gold, Barrick Gold, and Placer Dome. Most recently, Mr. Anwyll served as COO for Generation Mining and previously as Senior Vice-President – Technical Services and Vice-President Operations | Mine General Manager at Detour Gold's open pit gold mine in Northern Ontario.
Kevin Annett, Chief Financial Officer
Mr. Annett, a CPA, is a seasoned mining finance executive with over 15 years of experience spanning project construction, operations, and corporate leadership. He most recently served as Chief Financial Officer, North America at Barrick Mining Corporation, where he led financial strategy, planning, and governance for the company's largest region. Earlier in his career, he held progressively senior roles across Barrick and Detour Gold.
Adree DeLazzer, Vice President, Exploration
Ms. DeLazzer is a professional geologist with 20 years of experience in mineral exploration and mine-site geology across Canada, including extensive work on gold systems in the Abitibi Greenstone Belt. She most recently served as Vice President, Exploration at Northern Superior Resources Inc.
Zayem Lakhani, VP Capital Markets
Mr. Lakhani brings more than 17 years of expertise in investment management, equity research, and corporate development. Prior to joining Mayfair Gold, he served as Portfolio Manager and Head of Canadian Equities at HSBC Global Asset Management, where he was the lead decision maker and oversaw the investment process for a $4 billion capital pool spanning multiple strategies.
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-
Project Development and Execution Risk
Mayfair Gold Corp. is a development-stage company that has not yet commenced commercial production, and its future success is contingent on obtaining permits, arranging project financing, completing construction, and ultimately achieving commercial production. There is inherent uncertainty that regulatory approvals and project permitting could take longer than anticipated, and construction and development execution risks may impact project timelines. The company is actively involved in environmental studies, engineering work, and regulatory engagement to advance the Fenn-Gib project, which involves navigating Ontario-led environmental approvals, Indigenous agreements, and engineering, design, and procurement processes. Delays or issues in any of these critical steps could significantly impede the project's progress and financial viability. -
Financing Risk
As an exploration and development company, Mayfair Gold Corp. relies on investor funding rather than revenue, necessitating continuous follow-on investment. The "high-risk nature of exploration projects" makes accessing capital challenging for junior mining companies. The company has initiated early engagement with potential project financing parties for the Fenn-Gib project, which has estimated initial capital expenditures of $450 million. A significant risk for shareholders in early-stage mineral companies is the erosion of value through dilution if further equity raises are required. -
Commodity Price Volatility
The economic viability of the Fenn-Gib gold project is directly influenced by fluctuations in the price of gold. All mineral projects are highly leveraged to commodity prices, meaning that while an appreciating commodity price can significantly enhance value, a decreasing price can severely undermine a project's economics. Volatility in gold prices could therefore negatively impact the future project economics and investor sentiment.
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Mayfair Gold Corp. (MINE) is an exploration and development-stage company with its primary focus on bringing its 100%-owned Fenn-Gib gold project in Ontario, Canada, into production. The key drivers of future revenue growth over the next 2-3 years will largely revolve around the successful advancement and eventual operation of this project, as well as broader market conditions for gold.
The expected drivers of future revenue growth for Mayfair Gold are:
- Transition to Commercial Gold Production at Fenn-Gib: The most significant driver of future revenue will be the commencement of commercial gold production from the Fenn-Gib project. Mayfair Gold is advancing permitting, detailed engineering, and stakeholder engagement with the goal of starting construction in 2028 and targeting initial gold production in 2030. The Pre-Feasibility Study (PFS) for Fenn-Gib outlines an average annual gold production of approximately 71,336 ounces over the first six years of operation and a total life of mine production of 920,000 ounces over 14.3 years. This transition from an exploration company to a producing mine will establish the foundational revenue stream for Mayfair Gold.
- Increased Gold Production through Resource Optimization and Expansion: The current mine plan in the Fenn-Gib PFS only incorporates 1.04 million ounces, representing 24% of the total 4.3 million ounce Indicated Mineral Resource. This indicates substantial potential for future expansion beyond the initial mine plan, which could lead to increased annual gold production and extended mine life. Furthermore, recent grade control drilling has identified the potential for 28% more tonnes at 7% higher grade for material above 3.0 g/t Au, leading to 37% more contained gold than the probable reserve model in tested areas. This could allow for higher-grade material to be processed earlier in the mine life, potentially boosting initial gold output and associated revenue.
- Successful Exploration and Resource Growth: Mayfair Gold's strategy includes regional exploration around its expanded land package, particularly focusing on the unexplored Southern Block within the prolific Abitibi Gold Belt. Discoveries of additional gold resources through ongoing exploration efforts could lead to increased mineral reserves, further extending the project's mine life or supporting future production expansions beyond current estimates, thereby driving long-term revenue growth.
- Favorable Gold Market Prices: As a gold-focused company, Mayfair Gold's future revenue is highly sensitive to the market price of gold. The Fenn-Gib PFS highlighted this sensitivity, with the project's economics demonstrating that every US$100 change in the gold price assumption results in an approximate $50 million change in Net Present Value (NPV). Sustained or increasing gold prices above the base case of US$3,100/oz used in the PFS would directly translate into higher revenues and stronger cash flows once production commences.
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Share Issuance
- In Q3 2025, Mayfair Gold completed a C$40 million LIFE Offering by issuing shares at C$1.65 per common share. The proceeds were designated for metallurgical and detailed engineering at the Fenn-Gib project, alongside working capital and general corporate purposes.
- The company's common stock value, as reported on its balance sheet, significantly increased from C$37.36 million in December 2021 to C$116.28 million in December 2025.
- Common shares with a fair value of C$3,000 were issued to settle consulting services for the year ended December 31, 2021.
Inbound Investments
- Mayfair Gold completed a C$40 million LIFE Offering in Q3 2025, which provided substantial funding to support the company and advance the Fenn-Gib gold project.
- The company benefits from a committed long-term shareholder base, including Muddy Waters, Heeney Capital, Oaktree, Nokomis, and Vestcor.
- Insider ownership stands at 34%, with insiders having purchased C$17 million in equity since October 2024.
Capital Expenditures
- Initial capital expenditures for the Fenn-Gib gold project are estimated at C$450 million, inclusive of a 26% contingency on direct costs, focusing on the development of a 4,800 tonne-per-day open-pit operation.
- Mayfair Gold plans to commence construction of the Fenn-Gib project in 2028, with initial production targeted for 2030. The main construction phase is expected to last 18 to 24 months.
- In April 2026, Mayfair Gold acquired the Guibord, Marriott, and Holloway properties to expand its strategic land package along the Porcupine-Destor Fault Zone for additional exploration. Significant work in Q2 2026 included advancing front-end engineering design, completing geotechnical investigations, and progressing environmental baseline programs and permitting for the Fenn-Gib project.
Peer Outperformance in Gold
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Copper | 7 | 116.9% | 99.4% | 322.3% | COPR 1013% · TGB 431% · HBM 399% |
| Silver | 6 | 168.6% | 300.9% | 175.9% | HL 259% · AYA 230% · SVM 211% |
| Gold ← | 32 | 59.9% | 216.7% | 167.0% | IAG 796% · CNL 552% · OGC 510% |
| Steel | 13 | 25.8% | 51.0% | 112.9% | AMR 487% · HCC 470% · NWPX 320% |
| Diversified Metals & Mining | 24 | 12.3% | 0.5% | 50.2% | ATLX 237043% · USAR 64531% · FMST 1106% |
| Aluminum | 3 | 97.7% | 137.2% | 49.8% | CENX 272% · KALU 50% · AA 30% |
| Construction Materials | 7 | -13.9% | 34.9% | 46.3% | USLM 315% · CRH 98% · VMC 54% |
| Metal, Glass & Plastic Containers | 11 | 3.2% | 12.0% | 8.3% | KRT 168% · MYE 71% · GEF 70% |
| Paper & Plastic Packaging Products & Materials | 7 | 15.6% | 21.7% | -1.6% | PKG 98% · CCK 16% · SON 12% |
| Precious Metals & Minerals | 9 | 46.4% | 160.4% | -5.1% | ASM 633% · PPTA 379% · ELE 117% |
| Specialty Chemicals | 40 | 12.0% | 2.3% | -9.1% | LWLG 867% · ODC 481% · NEU 202% |
| Commodity Chemicals | 13 | 27.6% | 19.5% | -20.9% | HWKN 240% · MEOH 90% · LXU 64% |
| Diversified Chemicals | 4 | 5.7% | -26.2% | -25.4% | CBT 76% · ASH -7% · CC -44% |
| Fertilizers & Agricultural Chemicals | 10 | -4.4% | 2.2% | -33.9% | CF 219% · CTVA 103% · NTR 47% |
| Paper Products | 3 | -12.4% | -51.1% | -95.7% | CLW -31% · ITP -96% · MERC -96% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 17.34 |
| Mkt Cap | 8.8 |
| Rev LTM | 2,240 |
| Op Inc LTM | 933 |
| FCF LTM | 79 |
| FCF 3Y Avg | 0 |
| CFO LTM | 908 |
| CFO 3Y Avg | 630 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 72.3% |
| Rev Chg 3Y Avg | 46.1% |
| Rev Chg Q | 48.6% |
| QoQ Delta Rev Chg LTM | 8.8% |
| Op Inc Chg LTM | 78.4% |
| Op Inc Chg 3Y Avg | 143.9% |
| Op Mgn LTM | 45.3% |
| Op Mgn 3Y Avg | 31.0% |
| QoQ Delta Op Mgn LTM | 1.7% |
| CFO/Rev LTM | 47.0% |
| CFO/Rev 3Y Avg | 40.9% |
| FCF/Rev LTM | 18.5% |
| FCF/Rev 3Y Avg | 0.8% |
Price Behavior
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.99 | 1.30 | 1.12 | 1.49 | -0.63 | 0.34 |
| Up Beta | 0.23 | 2.53 | 2.76 | 1.89 | -0.70 | 0.41 |
| Down Beta | 0.92 | -0.13 | 0.55 | 1.32 | 0.58 | 0.51 |
| Up Capture | 143% | 80% | 36% | 62% | 78% | 7% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 10 | 15 | 25 | 50 | 63 | 63 |
| Down Capture | 143% | 204% | 140% | 182% | 126% | 71% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 12 | 27 | 36 | 71 | 80 | 80 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MINE | |
|---|---|---|---|---|
| MINE | -20.0% | 67.8% | -0.24 | - |
| Sector ETF (XLB) | 20.6% | 17.9% | 0.90 | 28.7% |
| Equity (SPY) | 21.1% | 12.9% | 1.22 | 26.8% |
| Gold (GLD) | 37.5% | 28.8% | 1.10 | 50.6% |
| Commodities (DBC) | 43.2% | 20.2% | 1.66 | 15.3% |
| Real Estate (VNQ) | 12.9% | 13.8% | 0.64 | 7.3% |
| Bitcoin (BTCUSD) | -31.6% | 44.1% | -0.73 | 27.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MINE | |
|---|---|---|---|---|
| MINE | -4.4% | 67.8% | -0.24 | - |
| Sector ETF (XLB) | 6.4% | 19.1% | 0.22 | 28.7% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 26.8% |
| Gold (GLD) | 20.6% | 18.6% | 0.90 | 50.6% |
| Commodities (DBC) | 10.4% | 19.6% | 0.41 | 15.3% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 7.3% |
| Bitcoin (BTCUSD) | 10.4% | 52.8% | 0.38 | 27.1% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MINE | |
|---|---|---|---|---|
| MINE | -2.2% | 67.8% | -0.24 | - |
| Sector ETF (XLB) | 10.3% | 20.7% | 0.44 | 28.7% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 26.8% |
| Gold (GLD) | 12.7% | 16.2% | 0.64 | 50.6% |
| Commodities (DBC) | 8.0% | 18.0% | 0.36 | 15.3% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 7.3% |
| Bitcoin (BTCUSD) | 63.1% | 66.1% | 1.03 | 27.1% |
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Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
Investor Activity (13F)
Updated Aug 24, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Gold Resources |
| Kitco News |
| World Gold Council |
| Mining Journal |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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