Are These Gold Stocks On Your Watch List This Month?
Over the course of the past year, the rally in gold and gold stocks has been quite remarkable. Much of it has happened due to the uncertainty in the markets thanks to the United States-China trade war. However, the trade war is no longer the only reason behind the rally that has been witnessed in 2020.
Continued turmoil in the Middle East has started to become a factor. The United States’ actions in the area created panic in the markets once again. It also forced investors to move for safer assets like gold. Furthermore, a number of domestic concerns in the US persist. These are things like the Presidential impeachment process as well as central banking concerns.
The latter has impacted the global economy as well. So it starts to push favor toward safer asset classes like gold. With this in mind, here are several stocks to watch in the sector. But after looking into the finer details, would you rate these as gold stocks to buy or sell right now?
Best Gold Stocks To Buy [or sell]: Iamgold
The first gold stock that could be considered under these circumstances is that of Iamgold Corp (IAG – Free Report), which made a highly important announcement on Thursday. Yesterday, Iamgold announced that its Chief Executive Officer and President Stephen Letwin is going to retire. Letwin is going to succeed by the company’s Chief Operating Officer Gordon Stothart on March 1.
It should be noted that Stothart is currently the President of the company as well and has been with Iamgold since 2007. It should also be noted that he is a seasoned executive and has served in the mining industry for more than two decades.
But it should be noted that IAG stock hasn’t performed incredibly well over the last year. Between now and January 17 last year, the gold stock hasn’t changed but only a bit during the year. So with this in mind, is it the best gold stock to buy or sell right now? That decision is up to you.
Best Gold Stocks To Buy [or sell]: B2Gold
The other gold stock that is worth tracking at this point in time is that B2Gold (BTG – Free Report), which announced a production report on Thursday. Production reports are an important indicator of the health of a mining company and B2Gold’s fourth quarter proved to be a major positive. The gold produced in the fourth quarter stood at 234400 ounces and produced revenues of $314 million.
The company produced 969,500 ounces of gold in the full year, which proved to be the biggest haul made by the company in its history. B2Gold had projected that it was going to produce in the 935000 ounces to 975000 ounces range.
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On a year-to-date timeline, shares of BTG stock have jumped nearly 50% so far. And if you were looking at this stock back when the first big push for gold stocks came in late May, B2Gold has climbed by more than 70%.
Best Gold Stocks To Buy [or sell] Sibanye Gold Limited
One of the best performing gold stocks to watch for the better part of the last year has been Sibanye Gold (SBGL – Free Report). In fact, since January 17, 2019, shares of SBGL stock have climbed from $2.83 to highs of $11.07 this week.
This 291% move didn’t come on its own. Granted the positive momentum gained from the general trend in gold didn’t hurt. However, Sibanye has continued to execute on several fronts.
This week the company released an update that has triggered continued momentum with the stock. First, Sibanye reported that a filing that seems to have further excited the market.
This filing showed that it exercised its option to acquire another 12% interest in DRDGOLD (DRD – Free Report). This increased the company’s stake to a controlling interest of 50.1%. Obviously this triggered a big move in DRD stock as well.
“It will come in very handy in accelerating the further unlocking of value in DRDGOLD’s business and will go a long way to fund the early-stage development of Far West Gold Recoveries Phase 2.”DRDGOLD CEO Niel Pretorius
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