Are Gold Stocks Cheap or Undervalued? Or Both?
Gold Miners are definitely cheap as multiple valuation metrics are at historically low levels. When viewing a history of valuations going back as far as the 1980s we find current valuations indicating a secular bear market. Valuation indicators last peaked around 2003-2006.
There is a difference between price and value. Cheap refers to price and undervalued refers to intrinsic value against price.
