Gold Miners Stage Comeback as Equity Sales Surge to Record (1)

Gold miners have just raised their highest ever quarterly proceeds from share sales, with a prolonged rally in bullion prices attracting a range of investors seeking extra profit by betting on the companies that produce the metal.

Zijin Gold International Co.’s $3.2 billion initial public offering in Hong Kong — one of the largest this year — accounted for almost half of the $6.7 billion raised by the sector through new listings, placements and block trades in the three months to the end of September, according to data compiled by Bloomberg.

The bounty reverses a years-long trend that saw ...