4 Gold Stocks For Your Watch List
During 2020 there has been plenty of great gold stocks to watch. The reason behind this is the pandemic and state of worldwide economies. The economy in most places has taken a big hit as a result of the COVID-19 outbreak. As a result the price of gold and other precious metals has gone up dramatically. Gold was priced at below $1,500 when 2020 started, yet it is now well over $1,800 per ounce. So what is contributing to this rise up in gold? Well there is actually plenty of factors bringing the price of gold stocks up, and down as well.
The first of which is vaccine news, which brought the price of gold under $1,800 a few weeks ago. This was after two massive pharmaceutical companies announced COVID vaccines that proved 95% effective. Widespread release of these vaccines could help the economy and hurt the price of gold. But not everything looked bad for gold in this timeframe. Because soon after news came out that President-elect Joe Biden may be putting together a stimulus bill plan valued just under one trillion US dollars.
Stimulus hurts the value of the dollar which subsequently helps gold and gold stocks. Some analysts are even predicting that the yellow metal could rise above $1,900 per ounce. But the truth is, nothing with mining stocks is predictable in this volatile market. So it can be difficult to decide which gold stocks are best for you. Fear not, as we have you covered. We are now going to look at 4 high performing gold stocks that have gone up in price this year.
Gold Stocks To Watch: Royal Gold Inc.
The first company on this list of gold stocks to watch is Royal Gold Inc. (RGLD Stock Report). Royal Gold is a royalty based gold company. It will acquire and manage various royalties, metal streams, and other related companies. Royal Gold will acquire a royalty interest or stream and finance projects for stream or royalty interests. Its resources at goal are gold, silver, copper, zinc, nickel, lead, and cobalt. Royal Gold actively has more than 187 properties on 5 of the 7 continents. Included in this is interest on 41 producing mines and 16 developmental stage projects. Let’s take a look at what Royal Gold is accomplishing in recent history.
Back on November 17th, the company made a great announcement. In its 20 year history, the company has increased its dividend for shareholders every year. Well 2020 was no different, bringing its dividend from $1.13 a share to $1.20 per share. These dividends are paid by $0.30 per share quarterly. The company considers this strategy a “core component of our capital allocation strategy” according to CEO Bill Heissenbuttel. RGLD stock price is up 1.27% on average on the day of December 7th. RGLD stock has managed to fully recover from the negative effects brought on by the pandemic.
Gold Stocks To Watch: New Gold Inc.
Next on this gold stock list is New Gold Inc. (NGD Stock Report). New Gold Inc. is a mining company that develops mineral properties in a variety of areas in Canada and Mexico. Its active mining operations are focused on gold, silver, and copper deposits at its mines. These mines include the Rainy River mine, Afton mine, Cerro San Pedro mine, and more. Now let’s see what announcements this large gold corporation has made recently to get an idea of where it is at.
On November 23rd, New Gold announced the partial redemption of its outstanding 6.375% senior notes. It has issued a notice of redemption for $200 million aggregate principal amount of the outstanding 2025 notes. This will be executed on December 23rd 2020, with cash on hand as the option. The company’s advancements have lead it to much higher stock pricing. NGD stock price is at $2.11 a share on average as of December 7th 2020. At the start of the year this gold stock was trading at below $1 a share.
Gold Stocks To Watch: Kinross Gold Corporation
This next gold stock, Kinross Gold Corporation (KGC Stock Report), has showed positive performance this year. The company is a mining based corporation that actively explores for land, acquires it, and develops gold properties on said land. It operates its business in the United States, Canada, Russia, Brazil, Chile, Ghana, and Mauritania. Kinross extracts and processes gold ore to produce and sell it afterwards. The company has 24.3 million ounces and 55.7 million ounces of proven and probable gold and silver respectively. So let’s see what this gold stock’s performance looks like this year.
Back on November 4th Kinross Gold reported positive third quarter results. The company’s operating cash flow went up by more than double up to $544.1 million. Its operating cash flow went up by 86% as a result of this. The company reported high production numbers and is holding its original 2020 production guidance still. So it is no surprise that Kinross has been able to perform well in the market as a result. KGC stock price is up about 6.88% near the market open on December 7th.
Gold Stocks To Watch: Barrick Gold Corporation
Last but not least is Barrick Gold Corporation (GOLD Stock Report). This is certainly a gold stock to watch, being one of the largest companies in the sector. This gold company explores and develops a portfolio of mines and produces gold as well. Its operations take place in the US, Canada, among other countries. So what have we heard from Barrick recently?
In the company’s third quarter results, it announced adjusted earnings at a 173% increase year over year. Its sales also went up 32.2% from the quarter before it. While gold production did fall because of the pandemic, it seems like the company is managing to pick things up quite a bit. On December 7th GOLD stock sits at about $24 a share on average. The positive growth from Barrick Gold is what earns it the position on this list of gold stocks to watch.
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