Top Gold Stocks To Watch In January

There are so many gold stocks that exploded in popularity throughout 2020. This was as a result of the pandemic that took over the world rather fast. The value of the dollar fell and the economy was damaged, which is generally always good for gold stocks. So we saw many gold stocks that became top performers last year. What is happening now that it is 2021? Well, it seems that the government stimulus bill passed at $900 billion brought mining stocks up in the first week of 2021. Then shortly after, in the second week of the year, gold stocks fell back down to where they were at around December 31st. It was reported on January 13th, that refinance applications went up 20%.

This caused a boost in treasuries, which in turn brought the value of the dollar down. As a result, gold stocks increased in value on the day of January 13th. The pandemic’s rising numbers are also helping gold stocks continuously increase in value as time continues on. Sure, there are vaccines being distributed all over the world. But not fast and effective enough for gold stocks to go down.

There are so many other things that impact the price of gold stocks as well, such as jobless reports. Most mining stocks move similarly to how gold stocks move as well. The next inauguration is coming up, which could have an effect on the whole economy and specifically gold stocks. It will be interesting to see where this sector is headed next. It can get confusing deciding which gold stocks may be the best for you. So let’s have a look at four gold stocks that have shown positive momentum in 2021 so far.

Top Gold Stocks To Watch

  1. Barrick Gold Corporation (NYSE: GOLD)
  2. AngloGold Ashanti Limited (NYSE: AU)
  3. Yamana Gold Inc. (NYSE: AUY)
  4. New Gold Inc. (NYSE: NGD)

Barrick Gold Corporation

The first company on this list is Barrick Gold Corporation. Barrick Gold is a gold business that explores, mine develops, produces, and sells gold and copper properties. The company actively operated gold mines in 12 different countries, and had 71 million ounces of proven and probable gold and copper reserves at the end of 2019. To date, Barrick Gold is one of the largest active gold producers in the entire world. So how has Barrick Gold performed in 2021 so far?

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Well, on January 13th GOLD stock went up about 0.62%. This was as a result of the factors mentioned in the introduction of this article. GOLD stock is still lower than it was the first week of January, when prices were nearly at $25 per share on average. As of January 13th, GOLD stock price is at $23.65 a share on average. Barrick has announced that it will release its fourth quarter results from 2020 and full year results on February 18th, 2021. This will be hosted via virtual presentation by President and CEO Mark Bristow. Now we await this to see what is next for this gold corporation.

AngloGold Ashanti Limited

The next gold stock to watch is AngloGold Ashanti Limited. AngloGold Ashanti is a gold mining company that produces gold, silver, uranium, and sulpheric acid. The company currently operates 14 mines and three projects, located in nine countries around the world. This includes the Americcas, South Africa, Continental Africa, and Australia. Back in November 2020, it released its third quarter results for 2020. It announced that its free cash flow grew 290% to $339 million. So what has its recent performance looked like then?

The price of AU stock generally moves with the price of gold and silver. So at the moment, AU stock price has increased by 0.40% on the day of January 13th. This is a result of increasing gold and silver prices on the same day. The company has not released any recent news, so this is all that is moving its stock price at the moment. So now we wait for the future to see what is next for AngloGold Ashanti as 2021 continues onwards.

Yamana Gold Inc.

Next up on this gold stock list Yamana Gold Inc. Yamana Gold is a producer of precious metals that actively explores for and produces gold and silver ores. The company has interest in the Cerro Moro mine, Malartic mine, Minera Florida mine, Jacobina mine, among others. Its mines are located in Canada, Chile, Brazil, and Argentina. The company showed a lot of positive performance in the last year, due to good financial results and increasing metal prices.

Now in 2021, AUY stock price had a lot of momentum in the first week. But in the second week of 2021, not so much. But considering the company has not had too many recent updates, it is primarily based on gold and silver prices performance in the market. 2 days ago the company announced the appointment of Credit Suisse as its joint UK corporate broker along with Peel Hunt and Barenberg, effective immediately.

[Read More] What News Is Moving Mining Stocks?

New Gold Inc.

Last up on this list of gold stocks is New Gold Inc. New Gold is a company that develops and operates various different mineral properties. The company additionally searches for silver and copper deposits. It actively owns 100% interests in the Rainy River gold and silver mine in Canada, and New Afton gold and copper mine in Canada. Additionally, the mineral explorer owns 100% interest in the Blackwater gold silver project in Canada, and the Cerro San Pedro gold silver mine in Mexico. So let’s see how NGD stock has been performing in 2021.

Other than the partial redemption of outstanding senior notes, not much recent info has come from New Gold. So the movement of NGD stock in the market recently is due to the moving prices of gold. This gold stock to watch was prominent in 2020, so it will be interesting to see what its performance will look like in 2021.

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