Top Gold Stocks To Buy Or Sell In December 2020
Currently gold is trading under $1,800, after many analysts predicted otherwise. Some thought that the price of gold would not dip below $1,850. But clearly, something has changed. Increasing vaccine news in a positive direction is the primary factor hurting gold. At the same time, there are a few things going on that could help out the price of gold. The first of which is the virus itself. While vaccine news is good, we are far from having it widely distributed to all. Secondly, the election affected gold prices, so the inauguration could do the same come January.
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On November 30th, gold and silver futures are around steady levels of trading. As the stock market has lost gains through the mid-day, gold prices were affected positively. This creates room for many great gold stocks to watch. One senior commodity strategist from Bloomberg Intelligence thinks gold is going to perform well. Mike McGlone said, “Gold is quite straightforward: probabilities tilt toward more of the same for its price at about $1,790 an ounce on Nov. 27 than advance in 2021 above this year’s peak of around $2,075.” But the truth is, the future of gold cannot be predicted for sure. We are in a state of high volatility in the world at the moment. So let’s look at four gold stocks to buy or sell in this volatile market.
Top Gold Stocks To Buy [Or Sell] In December 2020: Golden Star Resources Ltd.
The first gold stock to buy or sell is Golden Star Resources Ltd. (GSS Stock Report). Golden Star is a mining and exploration company based in Canada with a primary focus on gold. It actively runs the Wassa open-pit gold mine in Tarkwa, Ghana. Additionally it owns processing plants and underground mines. One example was the Bogoso gold mining and processing property in Ghana, which has now been sold. It also holds interest in multiple gold related projects in both Ghana and Brazil. Let’s look at what the company has been up to recently.
The company announced on October 28th its third quarter financial results for 2020. In this, it shared its recent sale of the Bogoso-Prestea gold mine within the third quarter. Golden Star stated its underground mining rate reached record quarterly averages of 4,960 tons per day. In addition to this, the company had its gold revenue increase year over year. This was a very telling quarter for the gold company, in a state where things are volatile. Golden Star has proven that there can be lots of success in this sector. The rising gold prices in 2020 and Golden Star’s advancements have led to GSS stock price increasing throughout the year.
Top Gold Stocks To Buy [Or Sell] In December 2020: Hecla Mining Company
The next company on this list is Hecla Mining Company (HL Stock Report). Hecla Mining Company will discover land, acquire, develop, and produce precious metals. Its main resources are unrefined gold and silver bullion bars, zinc, lead among others. Some of its properties include the Greens Creek Mine, Lucky Friday mine, Casa Berardi mine, and more. Now let’s look at what the company has been up to in recent history.
Back on November 9th, Hecla Mining released its financial results for the third quarter of 2020. The company announced that its sales went up 24% year over year. This was an increase to $199.7 million. Additionally, the company produced in silver and gold, 3.5 million ounces and 41,174 ounces respectively. Many of the company’s mines are ahead of schedule and are improving in resource estimates. Hecla has expectations to increase its balance sheet and further exploration as time goes on. HL stock price has gone up in 2020 as a result of this positive momentum the company has experienced.
Top Gold Stocks To Buy [Or Sell] In December 2020: New Gold Inc.
Next up on this list of gold stocks is New Gold Inc. (NGD Stock Report). New Gold Inc. is a mining company that develops mineral properties all over Canada and Mexico. It actively mines for gold, silver, and copper deposits at its locations. New Gold holds interest in the Afton, Rainy River, and Cerro San Pedro mines among others. NGD stock has been able to have lots of positive performance throughout 2020. So what has New Gold been up to in recent times?[Read More] Are These Gold Stocks Future Gainers? 4 To Know
Back in October the company provided a third quarter operational update. It announced here that its gold equivalent ounces were more than 115,000 in this period. Additionally, the company sold its Blackwater Project to Artemis Gold for CAD $190 million during this quarter. New Gold also completed full redemption of its 6.25% senior notes due in 2022. NGD stock price has gone up significantly throughout the year as a result of its positive momentum and rising gold prices. Now we await what is next to come from NGD stock in the future.
Top Gold Stocks To Buy [Or Sell] In December 2020: Seabridge Gold Inc.
The final company on this list of gold stocks to buy or sell is Seabridge Gold Inc. (SA Stock Report). Seabridge is an acquisition and exploration based gold company in North America. It will search for gold, silver, and copper ores. Primarily it operates the Kerr-Sulphurets-Mitchell property in Canada. It also operates various other properties throughout North America.
The company announced in its third quarter a few things. It completed the geotechnical drill program at the Kerr-Sulphurets-Mitchell tunnel route. Its drilling at Iskut found more evidence of large gold-copper porphyry system. Seabridge began drilling at Snowstorm in Nevada, and the company had one of its strongest working capital positions in its history. Seabridge reported profits of $5 million compared to a loss of $2.5 million the previous year. That is why SA stock has made it on to this list of gold stocks. It will be interesting to see how the company advances in the future.
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