Sustainability: A Key to Gold-Mining Stocks
At First Eagle, we have received many questions about sustainable investing from investors and investment professionals. To help answer these questions, we asked Thomas Kertsos, co-portfolio manager of the Gold Fund, and Max Belmont, research analyst for the Gold Fund, to discuss their thinking in this area. They focus, above all, on analyzing the economic merits of an investment, but they also assess potential risk factors—including sustainability issues—that are important elements in this analysis. In the gold-mining industry, as Thomas and Max explain, these issues can be a key to a company’s long-term resilience.