Which Gold Stocks Have Potential? 4 To Know
On December 1st, gold and silver prices have gone up. This includes the price of gold and silver futures as well. So subsequently, gold stocks are going to perform well too. Some of this news comes regarding stimulus. A group of bipartisan senators announced a $908 billion plan for COVID-19 relief. But Senate Majority Leader Mitch McConnell shut it down almost immediately, saying “we just don’t have time to waste” implying the President would not sign off.
But other news came out that Joe Biden and his transition team are prepping for an early new stimulus bill. President-elect Biden could put a lot of this in effect right after he is inaugurated in January. If there is a large economic aid package put out, it could help the price of gold. That is an example of why gold prices have gone above $1,800 again on December 1st 2020. A report from the Institute for Supply Management (ISM) was released stating that sentiment in manufacturing was weaker than expected. Yet this didn’t affect gold stocks due to the other news. On December 1st, the Dow posted its best month since 1987 as well. This positively affected gold stocks too. So let’s now look at some gold stocks that have potential in the market.
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Top Gold Stocks To Watch In Early December: Barrick Gold Corporation
The first gold stock to watch is Barrick Gold Corporation (GOLD Stock Report). Barrick Gold has grown to be one of the largest gold producers in the entire world. It will explore and develop various mines, and produce gold. It operates out of the United States, Canada, Argentina, and Dominican Republic among others. Barrick also holds interest in copper mines located out in Chile. As one of the largest gold companies, when it has news it is big. So let’s see what Barrick has been up to recently.
Recently Barrick Gold released its third quarter results for 2020 that showed the future of the company. Its net earnigns were down year over year at $882 million. But regardless, its adjusted earnings rose 173% year over year. Its sales increased by 32.2% over the previous quarter. Its gold production fell dramatically because of the pandemic, but it has been able to pick things up once again. GOLD stock price is up 3.3% on the day of December 1st. To many investors, this is a gold stock to watch.
Top Gold Stocks To Watch In Early December: IAMGOLD Corporation
Next up on this list of gold stocks is IAMGOLD Corporation (IAG Stock Report). IAMGOLD Corporation is a mining company that explores, operates, and develops many mineral properties. It operates these properties in North America, South America, and West Africa. The company primarily searches for gold but will discover other resources as well. Some of its properties include the Essakane mine, Westwood mine, Roebel mine, and more. So what has IAMGOLD Corporation been up to recently? How is IAG stock performing?
Back on November 4th, the company provided a financial and operating report for the third quarter. Its net cash from operating activities rose an impressive 37% year over year. Its revenue was $335.1 million, at an average gold price of $1,908. In total its revenue grew by $60.7 million from the previous year. It also rose $50.5 million from the previous quarter. The company has shown such positive momentum in 2020 it has piqued investor interest. The company stated it is still dealing with some pandemic related issues, but clearly it is faring well through it all. IAG stock price is up about 5.4% on the day of December 1st. That is why it is on this list of gold stocks to watch.
Top Gold Stocks To Watch In Early December: B2Gold Corp.
Next up on this list of gold stocks is B2Gold Corp. (BTG Stock Report). B2Gold Corp. is a gold producer that operates various mines in Mali, the Philippines, and Namibia. Some of these mines include the Fekola mine, Masbate mine, and Otjikoto mines. Additionally it has 81% interest in the Kiaka Project in Burkina Faso. So what has this company been up to recently? Well, considering it has a big portfolio of assets there is a lot. So let’s see the most recent update that has come from the company.
November 3rd is when B2Gold announced its third quarter results for 2020. This report announced a 17% increase in consolidated gold production, to 248,733 ounces. Its consolidated gold revenue was $487 for the entire quarter. B2Gold’s consolidated cash flow hit a new record for $301 million in one quarter. BTG stock is up 2.85% on average on the day of December 1st. With the recent uptick in gold price, it is no surprise that this large gold producer was affected as well. This gold stock to watch shows that many gold companies are performing well at the moment. B2Gold’s volume on December 1st is about 2.4 million higher than average.
Top Gold Stocks To Watch In Early December: Yamana Gold Inc.
The final company on this list Yamana Gold Inc. (AUY Stock Report). Yamana Gold is a precious metal producer that operates in various locations worldwide. These locations include Brazil, Canada, Chile, and Argentina. The company will actively explore for gold and silver ores. It has interest in the Malartic mine, Cerro Moro mine, Minera Florida mine, and more. Now let’s check out some recent news that has come from Yamana Gold Inc.
On November 1st the company had an agreement with Monarch Gold Corporation for an acquisition. This acquisition gave Yamana the Wasamac property and the Camflo property and mill. This is through the acquisition of all outstanding shares of Monarch not owned by Yamana. This is a plan of arrangement for consideration, with cash and shares at about CAD $152 million. On December 1st, AUY stock price is up about 5%. It will be interesting to see how this mining stock progresses in the future.
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