best mining stocks to watch right now

These Gold Stocks Are High Performing As Prices Rise

Nothing quite compares to the rally that gold stocks experienced back in 2020. Now 2021 has arrived and it has brought its own share of advancements for pricing of the yellow metal. There are a few things that are impacting the price of gold stocks in the market at the moment. The first of which is the $900 billion stimulus plan that was recently passed, that offers financial aid to small businesses, vaccine distribution and more. This will also give Americans $600 stimulus checks, which have already started to be sent out. The other factor impacting gold prices and pushing it above $1,900 per ounce is COVID-19 numbers. Sure the vaccine is being distributed all over the world at the moment, but things are still very bad. COVID-19 numbers are at an all time high in many places including the United States.

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In the US alone, there are 200,000 positive covid-19 cases per day as of January 4th. It will take a long time to vaccinate a large enough amount of people for vaccines to become a relevant factor in affecting mining stocks. But only time will tell with all of these things. It is important to know what gold stocks you are investing in. Check the recent advancements, gold prices, volume, and more to determine if a gold stock is right for you. Things can get confusing in the market, so we have compiled a list of some top gold stocks to watch in January. Let’s see how some of these companies have been performing this year in the market.

Top Gold Stocks To Watch In January: Barrick Gold Corporation

best gold stocks to watch Barrick Gold (GOLD)

The first gold stock to watch is Barrick Gold Corporation (GOLD Stock Report) which is among the top gold corporations. The company will explore and develop a portfolio of mines. Additionally, it produces gold as well. Barrick’s processes take place in the United States, Canada, and many other places. You may be wondering what affected its stock price at the back end of the year. It reported very positive results in its last quarterly report. So what is affecting the price of GOLD stock in 2021?

Well to be honest, there is only one driving factor of Barrick Gold stock at the moment. That driving factor is the price of gold itself. As of January 4th  gold prices are around $1,940 per ounce. As a result of this gold price uptick, the price of GOLD stock itself is going up. On the day of January 4th, GOLD stock price is at around $24 a share on average. This gold stock is up 8% on the day of. At the start of last year GOLD stock price was at $18 a share. So GOLD stock price moves often with the price of gold.

[Read More] Which Mining Stocks May Pull Ahead As Vaccines Are Shipped?

Top Gold Stocks To Watch In January: Kirkland Lake Gold

The next company is Kirkland Lake Gold Ltd. (KL Stock Report). Kirkland Lake is a mining corporation that owns mining claims and land in a variety of places. The company explores for different mineral resources at a diverse portfolio of projects. Its main resource searched for at Kirkland Lake’s claims is gold. Its major assets are the Macassa Mine and Fosterville mines located in Canada and Australia. It also has a current agreement with Newmont (NEM Stock Report) to run exploration on some of its properties as well. So how has Kirkland Lake performed in recent history, and what is driving its stock price?

Similarly to Barrick, Kirkland’s recent momentum is primarily due to the rising gold prices. Gold reaching above $1,900 again was big for gold companies, as their resources now sell for more. The company reported wide high grade intersections at its mine and extended mineralization just 12 days ago. So now on January 4th, KL stock is at $44 a share on average. This is an increase of about 8% on the day of. It will be interesting to see how KL stock price is impacted in the future.

Top Gold Stocks To Watch In January: Wheaton Precious Metals Corp. 

gold stocks to watch WHeaton Precious Metals (WPM stock logo)

Next on this list of gold stocks is Wheaton Precious Metals Corp. (WPM Stock Report). Wheaton is a company that sells gold, silver, and palladium ores to different places. The company’s ores are sold all over the world and in Canada where it is centered. Wheaton currently holds 20 operating mine agreements and 9 developmental stage project agreements.

In July of 2020, WPM stock price reached its record high in the market. This was due to rising metal prices and positive financials from Wheaton. It fell for a little, but on January 4th this gold stock is up more than 8%. As of the 4th of January WPM stock price is at $45 a share on average. This gold stock is also currently moving with the actual price of gold itself.

Top Gold Stocks To Watch In January: Newmont Corporation

The final gold stock to watch is Newmont Corporation (NEM Stock Report). This is a mining company that produces and explores for silver, gold, copper, zinc, and lead. Newmont’s property is all in the United States, Mexico, Canada, Peru, and a few other countries. It had proven and probable gold reserves as of December 31st 2019 that totaled 100.2 million ounces. Overall Newmont Corporation holds more than 68,000 square km of land.

NEM stock price is up 5.44% on the day of January 4th. This is to a total $63 a share on average. Website actually listed Newmont as one of its top picks for the new year. Newmont’s stock price is increasing at the moment as a result of the rising gold and silver prices in the market just like the other gold stocks on this list. There are plenty of gold stocks trending in the market as we enter 2021. It will be interesting to see how the gold sector progresses as this year begins.

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