The Eldorado Enigma
“Gold is still in the early innings of a massive multi-year move,” Cramer said Friday. “This is not a bubble, it is merely the beginning of an historic rally.”
An easy way to own the precious metal is with the SPDR Gold Shares exchange-traded fund, which tracks the price of gold. But for those open to a bit more risk, the miners can offer a bit more reward.
Cramer’s already recommended Agnico-Eagle Mines, and he’s a big fan of Eldorado , too. EGO, though, while delivering a 113-percent gain for “Mad Money” viewers since Cramer’s Feb. 25, 2009, recommendation, has underperformed Agnico and the GLD since July 27. These latter two are up 42 percent and 17 percent, respectively, versus Eldorado’s 9 percent.
So what’s the problem here? Should EGO be ramping right along with gold prices? Or was there something in the company’s most recent quarter that signaled trouble? To figure it out, Cramer invited CEO Paul Wright to the show. Watch the video for the full interview.
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