For example, Barrick Gold Corp. (NYSE: ABX) has gained 191.7% year-to-date. The stock has been strengthening after recently reporting strong earnings on increased operating efficiency, despite revealing a second quarter dip in revenue year-over-year. ABX is the largest component in GDX’s portfolio, accounting for 10.4% of the ETF’s holdings.

SEE MORE: Pros Bet on Gold ETF Rebound

Looking ahead, given the rising price of gold, Miller argues that these miners can generate even greater profits, especially after recent cost control efforts.

For more on the gold market, visit our gold category.

VanEck Vectors Gold Miners ETF