So you’re looking to invest in gold stocks. Where do you even begin? There are plenty of mining stocks to watch but gold seem to be the most popular among them all. This has been a trend all throughout history. Often when the U.S. dollar is performing negatively, people will move their money into a physical asset such as gold or silver. So when the pandemic struck last year, it is no surprise that it sparked the largest gold rally in history.
Gold reached record highs in mid 2020, but where is the metal now? The price of gold is above $1,700 per ounce and has stayed at this price point for a long time. Sure, this is not as high as its price last year, but this means something for the yellow metal.
The reason the metal is performing well is because of the pandemic, right? The world is seeing a massive decline in COVID cases. With that has come reopening in many states. For example, Texas has fully opened with no restrictions, while many others are reopening with capacity. This is the largest reopening the country has seen since the pandemic started. Despite this recovery going on in the world, gold prices are not budging.
This is because of a few reasons. One has to do with fears of inflation. Furthermore the economy has barely started to recover and it is a process that could potentially take years to solve. Lots of damage was done and it will take a lot to fix all of it. So for now, gold is still able to prevail in the market. Some analysts think it could even go up in value again. For now let’s look at some gold stocks that could potentially hit your watch list this week.
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Amid the gold companies showing great performance, B2Gold Corp. is considered one of them. Up 2.5% on the day, B2Gold is a gold producer that operates mines. It currently runs mines in Mali, the Philippines, and Namibia. B2Gold operates the Fekola mine, Masbate Mine, and the Otjikoto Mine. It also holds 81% interest in the Kiaka Project in Burkina Faso. If you are looking to invest in gold stocks that have a lot going on, BTG might be the one for you.
On April 14th, B2Gold initiated a solar battery hybrid system at the Feloka Mine. This is the world’s largest off-grid solar battery hybrid system. It will lower CO2 emissions by 39,000 tons and will likely save 13.1 million liters of heavy fuel oil annually.
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Then on April 15th, B2Gold reported its first-quarter gold production and gold revenue. Its total gold production in this quarter was 220,644 ounces. This is 9% above B2Gold’s budget. The company is still on track to meet the annual guidance of 970,000 to 1,030,000 ounces of total gold production this year.
Kirkland Lake Gold Ltd.
If you are up to date in the gold market, you likely have heard of Kirkland Lake Gold Ltd. This corporation has seen an impressive rally in the last month. If you haven’t heard of the company, Kirkland Lake Gold is a mining company that owns mining land, mining claims, and explores mineral resources at said locations. It will primarily look for gold at its mines. Its major assets are the Macassa Mine and Fosterville mines located in Canada and Australia. One thing that often causes gold companies to perform well is reports.
Kirkland Lake reported solid production in the first quarter of 2021. Its original guidance for the quarter was 270,000 to 290,000 ounces. The results came out, and they reached 302,847 ounces exceeding the top end of the guidance. Its production did fall quarter over quarter, but exceeding guidance was great for the company. KL stock has gone up more than 11% in April so far.
Kirkland Lake is currently committed to sustainability. The CEO Tony Makuch said, “Mining in an environmentally and socially responsible way is essential to our operating and financial success, and we are committed to integrating and promoting sustainability into all facets of our business.”
Franco-Nevada Corporation has a lot in the pipeline at the moment. Many investors choose companies that are multi-faceted when looking for a long term investment. Let’s first discuss who Franco-Nevada is as a company. Franco-Nevada Corporation is a royalty and stream mining corporation. It will focus on gold but also will work with silver and platinum group metals. Now the company has announced it will release its first quarter results for 2021 on May 5th after the market close.
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In addition to this, the company launched its ESG report and asset handbook on April 19th. It was here in which the company achieved a lot of positive progress. This includes things such as being ranked #1 by Sustainalytics of 84 precious metals company, and “AA” by MSCI. On April 19th Franco-Nevada also announced that it has added iron ore royalty exposure.
It acquired 14.7% of Vale’s outstanding debentures from the Brazillian Development Bank for $538 million. This will give Franco-Nevada royalty exposure to some of the largest and most profitable iron ore mines. Iron ore has been going up in price as well, making this an even bigger deal. CEO and President Paul Brink stated, “The Vale Royalty and the LIORC equity investments, along with our by-product precious metal streams from copper mines, provide a base of low-risk long-life cash flow. We believe the combination of this foundation with exposure to the exploration success and commodity price optionality of our gold royalties and streams and energy assets is a very attractive investment proposition.”
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