top gold stocks to buy sell right now

Are These Gold Stocks On Your List This Week?

Which gold stocks are you watching right now? If you’re looking at Barrick Gold stock (GOLD) or Newmont gold stock (NEM) for instance, chances are you’re frustrated. That’s because while they dropped along with some of the other leading gold stocks, their recoveries haven’t been as sharp. They also haven’t been as nearly as strong as junior gold stocks right now.

Take a look at the list of junior mining stocks that seemed to stumble early on but are now on very bullish breakouts higher. Most of these gold stocks are actually considered penny stocks at this point. But one thing has held true time and time again during a bull market for gold. What is that “one thing”? Junior gold stocks tend to outpace the majors in a big way. However, keep in mind that this can go both ways. Where Barrick gold stock or Newmont may slide 5-10%, junior gold stocks may dip 20-30%.

IMC International Mining

Shares of IMC International Mining (IMIMF) (CSE:IMCX) have soared this week. The junior gold exploration company managed to reach all-time highs on Tuesday as gold prices surged. But, as the price of gold is important, so are corporate events. As far as IMC International is concerned, the company has made big progress over the last few weeks.

[Special Report] Now Is The Time To Buy Junior Gold Stocks

First, it finalized its acquisition of Thane Minerals, giving it access to the 100% owned Cathedral property. This property is located in an area called the Quesnel Terrane between two established mines: the Kemess Mine and Mt. Milligan Mine. The Mt. Milligan mine, in particular, should be a big proof point to why this area is so valuable especially for a company like IMC International. The mine is owned by Centerra Gold and one of the leading gold streaming companies, Royal Gold (RGLD) has an interest in Centerra’s Mt Milligan project as well.

Rider:  It is noted that the results of nearby or adjacent properties are not necessarily indicative of the potential of the Cathedral property and should not be understood or interpreted to mean that similar results will be obtained from the Cathedral property.

Aside from the other projects surrounding Cathedral (like Mt. Milligan), the Quesnel itself has shown significant mineralization supportive of big potential for gold discovery. The area has been host to past and planned production. The company will host a conference call to discuss more details on this acquisition including the recently announced engagement of CME Consultants Inc. to conduct exploration and prospecting on the Company’s Thane Property including the Cathedral Prospect. Details of the call can be found here.

Rider:  It is noted that the results of nearby or adjacent properties are not necessarily indicative of the potential of the Cathedral property and should not be understood or interpreted to mean that similar results will be obtained from the Cathedral property.

top gold stock IMC International Mining (IMCX)(IMIMF)

Yamana Gold Stock

As they say, “make hay while the sun shines” and right now the sun is shining bright on junior gold stocks. Take, for instance, Yamana gold stock (AUY). Shares dipped briefly in the morning to lows of $3.18. This was lower by about 3%; nothing crazy but a pullback nonetheless. While Barrick gold stock encountered a similar percentage dip, it has only managed to recover by about 3.7% as of mid-morning. Meanwhile, Yamana gold stock has jumped to new 5-day highs and it recovered to the tune of almost 10% from its low.

Something to keep in mind is that Yamana has followed a relatively technical trend. While gold prices are, in fact, higher for the month, they have pulled back from the highs a bit. If you look at the Yamana gold stock chart, you’ll see that its 200 day moving average has acted as a level of resistance. Shares have failed to break above that line and hold above that line multiple times since March 12.

Something else to note is that the company announced strong preliminary Q1 results for 2020. That includes gold production expected to come in around 192,000 ounces, silver to come in at 2.73 million ounces, and resumption in normal operations during the second half of the year. The company’s annual meeting will be held virtually on April 30th. Given all of these factors, will Yamana be able to finally break above that 200DMA resistance and stay there?

yamana gold stock (AUY)

Sibanye-Stillwater Ltd.

Another low-priced gold stock, Sibanye-Stillwater Ltd. (SBSW) traded higher for thee 3rd session in a row. Sibanye gold stock jumped to highs of $6.47, but in this case, there wasn’t much news to reference. For most of the last few weeks, Sibanye hasn’t reported much news.

In fact, the last update from the company came in March. This is when the company announced the suspension of its South African mining operations. The president of South Africa declared a lockdown from March 26th, on. While this is a tough pill to swallow, the company seems to have weathered the storm for the most part.

From a technical perspective, it seems like its chart has formed a double bottom pattern. While this is a bullish pattern, SBSW has traded quite closely to the same trend as gold prices. So it will be important to keep this in mind if it’s on your list of gold stocks right now.

top gold stock Sibanye Stillwater (SBSW)

McEwen Mining

Finally, McEwen Mining (MUX) has taken off higher on Tuesday. Shares of the miner reached new 8-day high. It also came within striking distance of setting a new 15 day high. There’s still time left in the day for it to do so. But right now it seems that MUX stock has held more of a sideways trend since hitting its high of day.

This month the company announced a new COO. McEwen appointed Peter Mah as Chief Operating Officer at the start of April. According to the press release, Peter is a professional engineer with 30 years of global mining experience spanning gold, diamonds and base metals. As a seasoned mining executive, his well-rounded experience comes from roles including Chief Operating Officer and Executive Vice President of Luna Gold, Group Executive at Newmont Mining, General Manager at the De Beers Victor Mine, Mine Manager of Newcrest’s Kencana Mine, as well as engineering roles at Goldcorp and Placer Dome.

From a technical stance, the last time MUX stock traded around these levels, it failed to break higher. Additionally, there aren’t any major technical levels nearby. The 50DMA (yellow line) sits around $0.94 right now. The big question right now is will the rising price of gold manage to push shares higher?

mining stocks to watch McEwen Mining (MUX)

Disclaimer: Pursuant to an agreement between Midam Ventures LLC and IMC International Mining Corp. (CSE: IMCX) (IMIMF), Midam has been paid $200,000 for a period from January 7, 2020, to February 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to March 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to July 9, 2020. We may buy or sell additional shares of IMC International Mining Corp.(CSE: IMCX) (IMIMF) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about IMC International Mining Corp. (CSE: IMCX) (IMIMF).  Full disclaimer here.

Midam Ventures, LLC | (305) 928-8939 | 1501 Venera Ave, Coral Gables, FL 33146 |
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