I recently compiled an article where I looked at the

Source: Yahoo Finance

To gain some additional context, before looking at the rates of return, it is useful to know the different market caps between the companies.

Junior Gold 1 Year Total Return

Source: Created myself with price data from TD Ameritrade

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Hecla Mining(HL) and Novagold(NG) are the winners over the one-year time horizon, but this doesn’t tell us very much. These two stocks also were trading at very low values one year ago.

Junior Gold 3 Year Total Return

Source: Created myself with price data from TD Ameritrade

It is evident from the three year return that most of the return from the past three years has come in just the past year as the gold price has risen. You can tell this by how little B2Gold, Equinox Gold, and Novagold’s 3-year returns are above the 1-year returns.

Junior Gold 5 Year Total Return

Source: Created myself with price data from TD Ameritrade

This chart begins to provide some differentiation among the group. The clear leader is Equinox Gold(EQX), followed by B2Gold(BTG) and SSR Mining(SSRM).

Junior Gold 10 Year Total Return

Source: Created myself with price data from TD Ameritrade

Equinox Gold doesn’t have 10-year price history, so it is blank here. B2Gold has impressive returns over the past ten years and demonstrates that they have a proven recipe. They also have retained the same CEO for the past 13 years, so this success may continue.

Junior Gold Combined Total Returns

Source: Created myself with price data from TD Ameritrade

If I were looking at this chart and wanted to rank each company, it would look something like this.

  1. Equinox Gold(EQX)
  2. B2Gold(BTG)
  3. SSR Mining(SSRM)
  4. Novagold(NG)

Beyond these four, I’m not sure the rest is in the same ballpark.

CEO Tenure

Source: Google Search

Clive Johnson has been the CEO of B2Gold for 13 years and has an impressive track record. He is well respected in the industry.

When looking at Equinox Gold, one also has to acknowledge that Ross Beaty is chairman of the board who has a storied history in the gold and silver mining industry. He was responsible for founding Pan American Silver(PAAS).

CEO Total Return Since Hired

Source: Created myself with price data from TD Ameritrade

Four CEOs stand out in this chart.

  1. Equinox Gold – Christian Milau
  2. B2Gold – Clive Johnson
  3. SSR Mining – Paul Benson
  4. Harmony Gold – Peter William Steenkamp

I should mention that Harmony Gold is one of the companies with gold projects in Papua New Guinea and that that may be difficult jurisdiction to work in in the future. Barrick Gold(GOLD) just found that out the hard way a couple of months ago.

CEO Annualized Return Since Hired

Source: Created myself with price data from TD Ameritrade

Gordon Stothart was just hired three months ago, so his annualized performance is a bit of an outlier and too early to tell. However, the other CEOs have long enough tenures to believe there is some credibility behind the numbers.

Christian Milau’s performance since starting at Equinox Gold almost four years ago is very impressive.

Conclusion

This has once again been an eye-opening exercise just as the last analysis like this I did. Historical performance matters when determining where to invest? And it’s valuable to understand the past performance of CEOs based on their start date, not just how the stock has performed generally. If there are companies you want me to add to the list next year, let me know in the comments.

Here is the spreadsheet where I compiled the data. If you find something is in error, I will be happy to update it.

Junior Gold Miners Historical Performance – Spreadsheet Analysis

To find the prices used in this analysis, I used the opening price for June 1st for each 1, 3, 5, and 10-year intervals.

Disclosure: I am/we are long BTG, EQX. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.