3 Gold Stocks To Keep Your Eye On
The market for gold stocks has drastically changed in the last year. The pandemic took over the world back in early 2020. This caused most stocks to fall in the market, including gold stocks. That was until a resurgence happened quickly for many types of mining stocks. Investors realized that investing in precious metals can be good during times where the economy is failing. This created what could be described as a gold stock rush.
There are a few reason that gold stocks are currently increasing in the market. One of these has to do with unemployment. When the U.S. Labor Department releases new weekly jobless claims reports, it can often affect the price of gold stocks. This is because unemployment is extremely high at the moment, which hurts the economy. In the latest report put out on April 8th, things looked good for gold. This is because the weekly jobless claims were higher than expected. The total was 744,000 for the week ending April 3rd.
This shows that unemployment is not going down at the moment. Meaning the economy is still lacking many jobs. The pandemic caused many jobs to layoff employees and not require as many. This could change eventually as reopening continues. Cases of the COVID-19 virus are rapidly falling as vaccines are being distributed more and more in America. The price of gold has been able to keep itself above $1,700 for a while now. While this is lower than the $2000+ number, it is still an impressive feat.
Top Gold Stocks To Watch
Company news, world news, unemployment reports, metal prices, and so much more can have an effect on gold assets. Which is why it can often be overwhelming when deciding which gold stocks are the best for you. This is why it is important to note a few things when investing in gold stocks. First of all, make sure that the company has multiple things going on that could result in advancements.
Check to see if its financials are good, or could be increasing soon. See its next press releases or quarterly reports. Another important step when investing in mining stocks is to look at a company’s volume compared to its stock price to potentially figure out its future path. Let’s take a look at three gold stocks that are potential future gainers in the market.
Sandstorm Gold Ltd.
This first gold stock has seen a lot of positive progress in the last month. This is due to company advancements and gold prices. Sandstorm is a gold royalty firm that acquires gold and other purchase agreements from companies. The agreements are from companies that actively have advanced stage development projects or operating mines. It will pay up front for companies to acquire gold streams or royalties and has rights to purchase a percentage of the production for the life of the mine.
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The most recent company update arrived on April 5th, 2021. Sandstorm announced record sales and revenue in the first quarter of 2021. It also renewed its normal course issuer bid. As a result of its positive financial results, SAND stock has gone up nearly 9% in the market. In the last month this number is a more impressive near 14%. SAND stock is not near its 2020 highs, but it is performing well as far as recent market history goes. Now we will see how this gold stock continues to perform throughout the upcoming weeks.
Alamos Gold Inc.
This next gold stock to watch has been moving upwards, but could potentially see even more momentum soon. Alamos Gold is a mining company that will acquire, explore, develop, and extract gold deposits at various locations. All of the projects it holds interest in are located in the United States, Turkey, Canada, and Mexico. It will also search for silver and other precious metals at these locations. Its main project is the Young-Davidson mine with mineral leases and claims at more than 11,000 acres.
On April 6th, Alamos Gold provided the public a notice of its first quarter 2021 results. It also announced an annual meeting of shareholders. The first quarter 2021 results will take place on April 29th, and the shareholder meeting on May 27th. This could likely be when the next large uptick for AGI stock is seen. But in the last 5 days AGI stock has been moving upwards in the market. In fact, AGI stock is up 3.5% in April so far, and we just barely got out of the first week of the month. Alamos also provided a notice of completion of annual filings on March 30th. It has filed its annual information form and Form 40-F with the SEC.
New Gold Inc.
The final company on this gold stock list is another that has been a gainer in the market in recent history. New Gold is a mining company that develops mineral properties in many locations around Mexico and Canada. The company’s current mining projects have a focus on gold, silver, and copper deposits at its mines. Its locations include the Rainy River mine, Afton mine, Cerro San Pedro mine, and a few other mines.
On March 25th, it was announced that New Gold intends on acquiring a 14.9% interest in Talisker Resources Ltd. The CEO of Talisker, Terry Harbort said, “New Gold is a natural regional partner for Talisker and their investment highlights the potential synergies for both companies and is a strong endorsement of our corporate strategy and the potential of Bralorne and our other greenfield projects.” The company also announced a 14.9% investment in Harte Gold Corp. via purchasing 154,940,153 common shares of the company.
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