Are These Gold Stocks On Your Watch List Right Now?
One thing that everyone should understand about gold stocks is this: it isn’t all about company news. When you look at some of the most active stocks today, many of them will have some type of corporate catalyst to look at. What I mean by this is that if you look at healthcare stocks, there’s likely some update or filing about a new trial or company event. When it comes to the most active stocks for gold and mining, the news cycle is a bit slower.
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Let’s face it, mining takes time. You need to test locations first, send samples to the lab, wait for results, analyze the results, then determine if it’s wise to move forward with a project. If it is wise to do so, then you need proper permits, sometimes you need to build roads, and then think about drilling. Needless to say, the most active gold stocks tend to depend more on the price of gold than company headlines at some point in the lifecycle.
When it comes to junior gold stocks or exploration stage gold companies, headlines carry a bit more weight and you’ll likely see them more frequently as a catalyst than other industry events. Right now, however, we’re going to take a look at the most active stocks today in the gold industry based on trading volume.
Most Active Stocks Today In Gold & Mining
The simple idea that “when gold prices jump so do gold stocks” isn’t always as accurate as you may think. If you look back at the last week, for example, you’ll see a dip in the price of gold. However, for many active gold stocks, they either slipped only slightly or traded sideways. The direct correlation can’t always be made. This week we are seeing that a bit more clearly, though. On April 28 gold futures bounced from around $1,704 to above $1,722 by the end of the day. At the same time, despite this slight dip, many of the most active gold stocks ended up climbing higher.
Kinross Gold stock (KGC Stock Report) was one of these names to bounce. After trading below $6.70 for the first time since last Wednesday, the gold stock rebounded by the afternoon. Over the last 45 days or so, Kinross gold stock managed to climb over 100%. On March 16, the gold stock hit lows of $3.44 and late last week KGC reached fresh highs of $7.25.
Another one of the most active stocks in gold was Barrick Gold stock (GOLD Stock Report). While the stock didn’t make new 2020 highs, it did come within striking distance. Last week Barrick gold stock reached a high of $28.50; its highest since April of 2013. With more than 14 million shares traded, Barrick is one of the higher priced, active gold stocks to watch on April 28. Considering that other companies trading above $25 like Newmont (NEM Stock Report) and AngloGold (AU Stock Report) have yet to see more than 5 million shares trade during the session, Barrick gold stock is a standout.
Don’t Count Out Active Gold Stocks Under $5
This brings me to Yamana Gold stock (AUY Stock Report). Shares of this gold stock under $5 traded actively during the first half of the week. It seems like no matter the day, Yamana gold is among the top gold stock to watch. As the cheapest name on the list, AUY saw more than 12 million shares trade on Tuesday.
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Earlier this month, Yamana announced it has closed its previously announced sale of 12,000,000 common shares of Equinox Gold Corp. and 6,000,000 warrants of Yamana to purchase common shares of Equinox to qualified purchasers for gross proceeds to Yamana of C$120,000,000. The shares and warrants were sold through Stifel GMP and Cormark Securities Inc.
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