Are These Gold Stocks Performing Well?
There are a variety of reasons that gold stocks have been trending upwards throughout 2020. First of all, the pandemic shook up the world and destroyed the economy. Obviously, this resulted in people turning to gold as a physical asset rather than the dollar. Then, the election happened and gold prices rallied even more. But then, two large pharmaceutical companies announced vaccine candidates that are 95% effective for COVID-19. This brought the price of gold and other precious metals down. You could say the market for gold is in a rather volatile place at the moment. Gold even fell under $1,850 which many analysts thought was not going to happen.
Could gold prices be moving upwards though? On November 25th, a jobless claims report was released that totaled 778,000. The Dow Jones estimated that this number would be 733,000. This number was also higher than the 742,000 reported the previous week. This could potentially be the news that gold needs to start moving in a more positive direction. Only time will tell though, but gold stocks are up on the day of the news. Let’s look at some gold stocks that are high performers before December begins.
Top Gold Stocks To Watch Before December: Royal Gold Inc.
The first gold stock to watch is Royal Gold Inc. (RGLD Stock Report). Royal Gold is a gold company that will acquire and manage metal streams, royalties, and related companies. It will primarily acquire stream, and royalty interests or to finance project for stream or royalty interests. These include gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum. As of June, Royal Gold owns more than 187 properties on 5 continents. This includes interest on 41 producing mines and 16 developmental stage projects.
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On November 17th, Royal Gold made a positive announcement. For the 20th year in a row, it increased its common stock dividend. This time it went up from $1.12 to $1.20 per share, payable on $0.30 per share quarterly. The President and CEO of the company Bill Heissenbuttel said, “Royal Gold considers returning capital to shareholders through a growing and sustainable dividend to be a core component of our capital allocation strategy.” On the day of November 25th, RGLD stock price is up 1.68%. It will be interesting to see what future advancements from this gold royalty company.
Top Gold Stocks To Watch Before December: Harmony Gold Mining Company Limited
Next up on this list of gold stocks is Harmony Gold Mining Company Limited (HMY Stock Report). Harmony Gold Mining Company is an exploration, extraction, and processing company for gold. It processes gold in both South Africa and Papua New Guinea. Additionally, Harmony will explore for silver, copper, and uranium deposits. Currently it operates 9 underground operations at the Witwatersrand Basin in South Africa. It also has interest in the Hidden Valley, an open pit gold and silver mine in Papau New Guinea.
Back in September this company released financial results. Things were not looking great, with revenue falling 1.6%. Its gold production fell about 15% year over year as well. Despite this, it has seen a quarter over quarter increase in production. In 2020, HMY stock price has increased by about 12.36% a share. As of November 25th, it is at $4.25 a share on average. In other recent news, it recently acquired the Anglogold Ashanti remaining South Africa assets. This makes Harmony South Africa’s largest gold producer by volume now.
Top Gold Stocks To Watch Before December: Alamos Gold Inc.
Next up on this list of gold stocks is Alamos Gold Inc. (AGI Stock Report). Alamos Gold is an acquisition, exploration, development, and extraction focused gold company. The company actively looks for gold, silver, and other precious metal deposits. Its main project is the Young-Davidson mine, location in Canada totaling 11,000 acres. It also holds interest in plenty of development stage projects in the United States, Canada, Mexico, and Turkey.
28 days ago, Alamos Gold reported its third quarter financial results. It was here in which the company announced a record free cash flow of $76 million, and supports a 33% increase in dividend. It increased gold production by 49% from the second quarter of 2020. It has been able to recover many operations that were stalled by COVID-19. Its Island Gold property produced a record amount of gold as well. As a result this gold stock is performing well this year. AGI stock price went from $5.88 a share back in January to now being at $8 a share on average on November 25th.
Top Gold Stocks To Watch Before December: Sandstorm Gold Ltd.
The final company on this list of gold stocks is Sandstorm Gold Ltd. (SAND Stock Report). Sandstorm Gold is a gold royalty company that will acquire gold and other purchase agreements from companies. These are from companies that actively have advanced stage development projects or operating mines. It will pay up front for companies to acquire gold streams or royalties and has rights to purchase a percentage of the production for the life of the mine. Let’s check out its recent news and advancements.
On October 29th we received the most recent update from the company. This is when Sandstorm Gold announced its third quarter results for 2020. The company stated its revenue and gold equivalent ounces sold fell. The global pandemic has had quite the negative effect on Sandstorm. Yet still, SAND stock has increased overall in 2020. As a result, SAND stock has fallen hard in the last 6 months. But could its next quarterly earnings be where the company starts to shine? It is unknown to analysts at this moment, but that is why this is a gold stock to watch. The gold sector is always moving up and down based on the current price of gold and news. That is why it is important to always know the most recent information about gold stocks to watch.
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