Top Gold Stocks To Watch In 2021
The market for gold stocks is showing a lot of positive performance in 2021. At the start of the year the yellow metal shot up in value on higher gold prices and outlook for the New Year. Since then, Gold has pulled back quite a bit. Many analysts believe this is not the end of the gold rally though. This continues to prove itself because gold is staying at a similar price point at the moment.
This bullish momentum was not affected by housing starts increasing 19.4%, which the Commerce Department announced. Today, gold is nearly at a 2 month high. In fact, the metal is at multi-week highs. Investors are constantly looking at what the future of gold stocks will be like. Some analysts think that gold prices will tank after the economy recovers more. Others think that the opposite will happen.
The pandemic is slowing down at the moment in the United States. COVID-19 cases are rapidly dropping as vaccines are distributed. More than 36% of the population has received at least the first dose of the coronavirus vaccine. This equates to millions and millions of people. The vaccine distribution means that many places are reopening. Such as in Texas, where everything is open with no mandates. Or California, where most businesses are open, including theme parks. This could all negatively impact gold prices and mining stocks, but it is not at the moment. This is great news for all of the gold bulls out there. It will be interesting to watch if the yellow metal holds its own in the market. Let’s talk about three gold stocks that have been seeing higher performance in the market.
Top Gold Stocks To Watch
- B2Gold Corp. (NYSE: BTG)
- Gold Fields Limited (NYSE: GFI)
- Barrick Gold Corporation (NYSE: GOLD)
In the last month, this gold penny stock has been performing high in the stock market. Penny stocks refer to assets that trade under $5 per share. BTG stock price just so happens to be right at $5 a share at the moment. If you haven’t heard of this corporation before, let’s get you up to speed. B2Gold is a gold producer that operates mines. It currently runs mines in Mali, the Philippines, and Namibia. It operates the Fekola mine, Masbate Mine, and the Otjikoto Mine. It also holds 81% interest in the Kiaka Project in Burkina Faso. In addition to these properties, it has a portfolio of other evaluation and exploration assets.
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April 15th is when the latest update arrived from B2Gold Corp. The company reported its gold production and gold revenue for the first quarter of 2021. Its total gold production was 220,644 ounces, 9% higher than its budget. B2Gold is on track to meet its annual guidance of 970,000 to 1,030,000 ounces of total gold production. B2Gold’s consolidated gold revenue was $362 million on sales of 202,330 ounces. In addition to this the corporation released a lot of positive updates from its properties. BTG stock price is up nearly 10% in the last month.
Gold Fields Limited
When the pandemic struck, GFI stock became a penny stock at under $5 per share. Now, GFI stock is at $10 a share. So what happened? First let’s get you up to date on who Gold Fields are. Gold Fields is a mining business that offers and produces resources and reserves. Its assets are in Chile, South Africa, Australia, Ghana, and Peru. It presently has 9 mines with yearly gold equivalent production of 2.2 million ounces. Gold Fields holds gold mineral reserves of 51.3 million ounces and mineral resources of 115.7 million ounces.
On March 31st, Gold Fields published its 2020 integrated annual report. This was positive for the company but is not necessarily the reason it is moving upwards in the market at the moment. GFI stock is up 1% on April 16th. This is because of rising gold prices, which are up 2.5% on the same day. So it is no surprise that GFI stock is also performing well due to the company’s positive performance in recent history in the market. GFI has seen a recent trend of spikes and dips, so it will be interesting to see what direction it moves next. For now, GFI stock could potentially make your list of gold stocks to watch.
Barrick Gold Corporation
The final gold stock to watch is one of the largest in the gold production market. Barrick Gold is one of the largest gold producers around. The company engages in exploration, mine development, production, and selling of gold. The company holds interest in gold mines in Argentina, Canada, United States, and many more. As one of the leaders in the gold industry, many other gold stocks follow in its footsteps in terms of movement.
Barrick has now experienced a drop in quarterly output. Regardless of this, the company has maintained its full year outlook. Its preliminary first quarter production was at 1.1 million ounces of gold, and 93 million pounds of copper. Its sales equate to 1.09 million oz gold, and 113 million pounds of copper. This has caused GOLD stock price to go up more than 5% in the market.
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In other recent news Barrick updated its evolving emissions reduction target. Previously its target was 10% by 2030 against a 2018 baseline. The CEO of the company Mark Bristow now said, “Through the year we worked on identifying further reduction opportunities and this has enabled us to set an updated target of at least 30% by 2030 with an interim reduction target of 15% based on projects already being implemented, while maintaining a steady production profile.” Its ultimate goal is to achieve net zero emissions by 2050 by greenhouse gas reductions and offsets. The company plans to always have sustainability as a business priority for the company.
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