Are These The Best Gold Stocks In November?
When it comes to investing in the market, investors have had their eye on gold stocks this year. Gold companies are generally companies that mine and refine gold, as well as sell to dealers. The price of gold will move based on the supply and demand for it, meaning it is changing all the time. In 2020, gold has gone up in price exponentially.
Many have used physical gold as an asset while the economy has been in disarray. Gold has been reaching record highs in the charts, which has only increased the interest in the precious metal. When 2020 began, the production of gold was slowed or stopped completely because of the pandemic. But we are at the end of the year now, and gold production is pretty much back in full swing.
But it is still always important to keep up with news in the sector and for specific companies. Gold stocks don’t just move based on the price of gold. These mining stocks also will move based on company performance. So let’s take a look at some gold mining stocks that have been performing well in the market throughout a large part of 2020.
Top Gold Stocks To Watch: Freeman Gold Corp.
The first company on this list of the top gold stocks to watch is Freeman Gold Corp. (OTC: FMANF Stock Report) (CSE: FMAN). Freeman Gold Corp. is a mineral exploration company that actively engages in the acquisition, exploration, development, and more of its mineral properties. The properties that the company operates are in the United States and Canada. In general, Freeman will search for gold, silver, and copper deposits.
In recent history, the company has been acquiring new back-in rights, and making other new acquisitions as well. Freeman Gold Corp. recently appointed a new strategic advisor, the former CEO of Goldrock owned by Fortuna Silver Mines, Paul Matysek. But let’s now take a look at what other new news and advancements are being made by the company.
What To Watch With Freeman Gold
On October 29th, Freeman Gold announced an exploration update for its 100% owned Lemhi Gold Project. The Lemhi Gold Project is located in Idaho. Currently, Freeman Gold has two diamond drill rigs operating 24/7 at Lemhi, with 16 cored drill holes at 3,328m as of the 29th of October. Visible gold has been observed at 6 of these logged drill holes so far.
All of the drill holes have also intersected mineralization and geology consistent with the company’s geological model. The final remaining 2000 meters will be focused on infill drilling in the main historical resource area. Will Randall added, “Results have so far matched historical logs closely. Multiple flat lying, high grade zones, often containing visible gold, are stacked and may constitute a bulk tonnage target.”
You’ve also got to consider that Freeman’s CEO has also been buying up shares of the company’s stock. Just this week, Randall reported the purchase of another 100,000 shares of FMAN stock at $0.50. This adds to his growing position as you can see two other reports in October showing purchases of 20,000 and 14,500.
Top Gold Stocks To Watch: New Gold Inc.
The next company on this list of the top gold stocks to watch is New Gold Inc. (NYSEAMERICAN: NGD Stock Report). New Gold Inc. is a mining company that focuses on the development of mineral properties in both Canada and Mexico. It actively searches for gold, silver, and copper deposits at all of its properties. New Gold has 100% interest in the Rainy River, Afton, and Cerro San Pedro mines. This company has consistently had news coming out throughout 2020. So let’s take a look at some recent news that has come from this mining stock.
What To Watch With New Gold
Well, the most recent news from New Gold Inc. is that it reported its third quarter operational results on October 13th 2020. It was here in which the company announced that in the third quarter, it produced more than 115,000 gold equivalent ounces. In addition to this positive news the company reminded investors of the sale of its Blackwater Project to Artemis Gold for C$190 million during this quarter. The company completed full redemption of its outstanding 6.25% senior notes that were due in 2022.
The company has been able to overall improve its operational performance, which has reflected in the company’s stock price. NGD stock price is up more than 125% in shares this year. That is why NGD is a good candidate for this list of the top gold mining stocks to watch in November.
Top Gold Stocks To Watch: Barrick Gold Corporation
Now let’s discuss Barrick Gold Corporation (NYSE: GOLD Stock Report). Barrick Gold Corporation explores, mines, produces, as well as sells gold and copper properties. The company actively operated gold mines in 12 different countries and had 71 million ounces of proven and probable gold and copper reserves at the end of 2019. To date, Barrick Gold is one of the largest active gold producers in the entire world. So let’s see what advancements this large mining stock has been making.
What To Watch With Barrick Gold Stock
Well, many gold stocks recently are posting positive earnings reports from the third quarter of 2020. Barrick Gold will be reported its third quarter 2020 results on November 5th, right before the market open. Analysts are predicting that the company will post results showing the benefits of higher gold prices in the market. In its previous four quarters, the company had an average earnings surprise of 23.1% compared to what analysts thought.
In the last year, GOLD stock price has gone up more than 63%. So when it comes to these third-quarter earnings, investors are keeping their eyes peeled. Back in its preliminary results in October, its gold production and sales totaled 1.16 million ounces and 1.25 million ounces. So it will be interesting to see what is released in these third-quarter results on the 5th of this month.
Top Gold Stocks To Watch: Yamana Gold Inc.
The final company on this list of the top gold stocks is Yamana Gold Inc. (NYSE: AUY Stock Report). Yamana Gold is a precious metal producer that explores, produces, and sells gold and silver ores from its mines. Its mines are actively operated in Canada, Brazil, and Chile. Back in September, Freeman Gold issued the company more than 4 million common shares for a back in right of its Lemhi Project. But now, the company has posted its third quarter financial results.
What To Watch With Yamana Gold Stock
On October 29th, Yamana released these third quarter financial results. It reported that its free cash flow year over year was up more than 300%, the highest since 2015 of $215 million. Its net earnings were lower year over year despite this positive news. Its net earnings did increase year over year to $92.9 million from $49.5 million. AUY stock price did decrease as a result of this announcement, but it has since recovered to where it was before these results were announced.
While investors may have not been pleased with these results, they also show that the company is making positive progression, especially in its cash flow. So now it will be interesting to see what Yamana will report in its next reports. This mining stock is still up in 2020, making it potentially one for your watch list.
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