So I've been digging into the gold mining space lately, and there's actually some interesting stuff happening right now that investors might be sleeping on.

Gold just hit new all-time highs, and here's what caught my attention - the gold mine stocks have been crushing it. Most of the major miners reported second quarter results that were honestly impressive. We're talking record free cash flow, solid earnings growth, the whole package. That's the kind of fundamental strength you want to see before jumping in.

Now the question everyone's asking is whether to go broad with an ETF or pick individual gold mine stocks. I get it, both have merits.

If you want exposure to a basket of miners, GDX has been the go-to for decades. The top two holdings are Newmont and Agnico Eagle, which together make up about 26% of the fund. It's up nearly 71% year-to-date, which is solid. The expense ratio sits at 0.51% though, which is on the higher side if you're cost-conscious. There's also RING if you want a lower fee - it's got an even tighter concentration in those same two big names at 31% of the portfolio. Lower volume though, so keep that in mind.

But here's where it gets interesting - if you want to build your own mini-portfolio of gold mine stocks instead, there are some seriously undervalued plays right now.

Newmont is the obvious one. Massive $75 billion market cap, earnings growing 51% this year, and it's trading at just 13x forward earnings. That's cheap for a quality miner. They generated $1.7 billion in free cash flow last quarter alone and are buying back $3 billion in stock. Plus there's a 1.5% dividend. This is the kind of gold mine stocks setup that actually makes sense fundamentally.

Agnico Eagle is equally compelling. Canadian miner, $67 billion market cap, up 69% year-to-date. Forward P/E of 19.5 is still reasonable. They hit record free cash flow of $1.3 billion in Q2 and are paying down debt while maintaining a 1.2% dividend. Both Newmont and Agnico are ranked as Strong Buys, which tells you something.

Then there's Harmony Gold Mining. This one's a wild card - South African miner, much smaller at $9.8 billion market cap. But here's the kicker - it's trading at a forward P/E of just 5.4. That's dirt cheap. Earnings are expected to jump 33.7% this fiscal year, and it's yielding 1.2% in dividends. If you're looking for the most beaten-down gold mine stocks with potential upside, this checks boxes.

The real question is whether you're comfortable with individual stock risk or prefer the ETF route. Personally, I think if you're doing your homework, picking a few solid gold mine stocks gives you more control. But if you want set-it-and-forget-it exposure, the ETFs work too.

Either way, the fundamentals in the gold mining sector look pretty solid right now. Worth keeping on your radar if you haven't already.