Top Gold Stocks To Buy Or Sell
There are plenty of things currently affecting the price of gold. The first of which is that new vaccine news we have all heard by now. Pfizer (PFE Stock Report) and Moderna (MRNA Stock Report) both separately announced vaccines that are 95% effective. Now it is being reported by many publications that a vaccine could become publicized by December 11th. The places expected to receive the vaccine this early is the United States, Germany, and the United Kingdom.
This news caused gold prices to go under $1,850, which analysts predicted would not happen. This news is negative for gold, yet investors still are looking at it positively. People think that the vaccine can’t be widely distributed quickly. It is not known for sure, placing gold and other precious metals in a volatile position. The election also affected gold prices as well. The inauguration in January could have an interesting effect on the direct in which gold prices move. With all of this volatility in the gold market, things can get confusing. So let’s look at some gold stocks that could potentially be on your watch list this month.
Top Gold Stocks To Buy Or Sell: B2Gold Corp.
The first gold stock to watch is B2Gold Corp (BTG Stock Report). B2Gold is a gold producer that operates mines. It currently runs mines in Mali, the Philippines and Namibia. The company operates the Fekola mine, Masbate Mine, and the Otjikoto Mine. It also holds 81% interest in the Kiaka Project in Burkina Faso. In addition to these properties it has a portfolio of other evaluation and exploration assets. Let’s see what advancements B2Gold has made recently.
On November 3rd we received the most recent update from B2Gold. The company reported its third-quarter results for 2020. It reported a 17% year over year increase in consolidated gold production to 248,733 ounces from its three mines. It also recorded a record consolidated gold revenue of $487 million for the quarter. Its consolidated cash flow was also a record at $301 million for the quarter. So clearly BTG stock would perform well then, right? Well, while BTG stock is up this year, it is down at the moment. That is due to vaccine-related gold price drops, not the company itself.
Top Gold Stocks To Buy Or Sell: Galiano Gold Inc.
The next gold stock to watch is Galiano Gold Inc. (GAU Stock Report). This gold penny stock has had its share of ups and downs this year. Gliano Gold is an exploration, development, and production company. It operates gold properties such as the Asanko Gold Mine in Ghana, West Africa. Back in September it provided an update that it is continuing progress at its mine and has improved its outlook. So let’s look at what else the company has been up to.[Read More] What Is The Current State Of Gold & Gold Stocks?
On November 6th, the company released its third quarter results for 2020. It announced quarterly gold production of 48,974 ounces at $1,488/oz on average. Its net income was $3.2 million and it had an adjusted EBITDA of $6.5 million. The CEO of the company, Greg McCunn stated, “The focus on exploration in Q3 was delineating and expanding upon known mineralization at the highly prospective Miradani targets and to confirm and improve confidence in the Mineral Reserve Estimate for the third phase of mining at Nkran and to test the extent of mineralization below the proposed Cut 3 pit shell.” Overall, GAU stock is up in 2020 which is why it has made this list. It is also down at the moment with gold prices due to vaccine news.
Top Gold Stocks To Buy Or Sell: Paramount Gold Nevada Corp.
Now let’s talk about Paramount Gold Nevada Corp. (PZG Stock Report). Paramount Gold Nevada Corp is a gold company that acquires land, explores, and develops precious metal properties. Its properties are all located in the United States in Nevada and Oregon. It holds interest in the Sleeper gold project, and the Grassy Mountain gold project. Together these projects have more than 2700 unpatented claims.
On October 30th Paramount Gold filed a technical report on a feasibility study for its Grassy Mountain gold project. It reported that the annual average production is 47,000 ounces of gold and 55,000 ounces of silver over 8 years. It also reported lower cash costs and AISC of $584 and $672 per ounce of gold produced. Its carbon-in leach process yielded average gold and silver recoveries of 92.8% and 73.5% respectively. Glen Van Treek, the President and COO of the company said, “With the completion of the Feasibility Study our efforts at Grassy are now focused on completing the permitting process to make this highly profitable mine a reality.” PZG stock has been on an upwards trajectory in 2020, currently being down due to the drop in gold prices.
Top Gold Stocks To Buy Or Sell: Golden Star Resources Ltd.
The final gold stock to watch is Golden Star Resources Ltd. (GSS Stock Report). Golden Star is a gold mining and exploration company based in Canada. It operates and owns the Wassa open-pit gold mine located in Tarkwa, Ghana. It also owns processing plants and underground mines too. This includes formerly the Bogoso gold mining and processing operation in Prestea, Ghana. Additionally it holds interest in projects for gold exploration in Brazil and Ghana.
On October 28th we received a recent update from Golden Star in the form of third quarter financial results. It announced the sale of the Bogoso-Prestea gold mine during the quarter. It increased its underground mining rate to record quarterly averages around 4,960 tons per day. Its gold revenues rose year over year as well. The CEO of the company, Andrew Wray, defined this as a “transformational quarter for the company”. Gold stocks are experiencing a high state of volatility in 2020. It seems as we reach the end of the year things can get more confusing. That is why it is important to keep up with all of the recent news in the sector.
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