Will These Gold Stocks Perform Well This Month?
In 2021, there have been many gold stocks performing well in the market. Let’s start off by talking about the reopening that is happening right now. In the United States, most if not all states are lifting restrictions and making masks non-essential for vaccinated people. At least 45% of the United States population is vaccinated as of June. So this means we could be much closer to recovering economically, although it will take time.
If gold stocks increased when the economy was bad, wouldn’t they go down amid recovery? Well, it seems like increased retail sales and industrial use is causing gold stocks to once again rise in value. The price of gold has nearly surpassed $1,900 per ounce for the first time in months.
Gold stocks are often seen as an alternative to investing in gold itself. Some find it easier to invest in gold stocks than to hold gold physically. With the world in such a volatile state right now, it is hard to know what can be next for gold. A full economic recovery could cause gold prices to move even higher, or it could make it go back to its former pre-pandemic price. That is why making an investment plan can be essential when dealing with gold stocks. Looking at things like world news and company news are always very helpful in the process. Looking at sector news such as shortages and demand increases also can help you decide when it is the right time to invest in gold stocks. No matter which way you go, there are many options. With this in mind, let’s look at the top gold stocks to watch in June.
Top Gold Stocks To Watch
Yamana Gold Inc. (NYSE: AUY)
Among this list comes a gold penny stock called Yamana Gold Inc. This is a company that produces precious metals in various locations around the world. These locations include Canada, Chile, Argentina, and Brazil. The company explores for and produces gold and silver ores. Currently Yamana has interest in the Cerro Moro mine, Malartic mine, Minera Florida mine, Jacobina mine, and more.
There isn’t company specific news that is driving AUY stock upwards. It is likely that this gold stock is increasing in value due to the rising gold prices in the market. When gold prices rise, AUY stock often does as well, respectively to the opposite. In the last month AUY stock has gone from about $4.80 per share to more than $5.40 per share on average.
In its last financial results report, its average price for gold was much higher. Its revenue also increased from $365.5 million to $422 million year over year. With all of this mind, is AUY going to make your list of gold stocks to watch?
IAMGOLD Corporation (NYSE: IAG)
Now let’s talk about another gold penny stock, IAMGOLD Corporation. This is a mining company that explores for, develops, and operates various gold mining properties. These properties are located in The Americas and West Africa. It currently has interest in the Rosebel mine, Essakane mine, Westwood mine, Diakha-Siribaya project, and many more assets as well. So what has this mining company been up to recently?
On May 13th, the company provided an update on its operations. The company finalized a new collective labor agreement for its Rosebel Gold Mine. It also has continued with a targeted safe restart of underground operations at its Westwood Mine. IAMGOLD recently released its first quarter financial results too.
The President and CEO Gordon Stothart said, “In the first quarter 2021, the IAMGOLD team made good progress toward our operating and development goals. Our operations generated $89.5 million in mine-site free cash flow and we ended the quarter with approximately $1.5 billion in available liquidity. Production was strong at Essakane and as expected at Westwood’s Grand Duc open pit, with Rosebel and satellite Saramacca impacted by unusually heavy seasonal rains and COVID-19 restrictions.” With all of this in mind, will IAMGOLD make it on to your gold stock watchlist?
Kinross Gold Corporation (NYSE: KGC)
Kinross Gold Corporation is a gold stock that explores for land, acquires land, and develops gold related assets on its properties. The company has operations in the United States, Canada, Russia, and many other countries. Additionally, Kinross extracts and processes gold ore. Then it will produce and sell the precious minerals. The large company currently has 24.3 million ounces and 55.7 million ounces of proven and probable gold and silver.
In mid-May, Kinross reported its first quarter results for 2021. This is where it announced that the company is on track to meet its 2021 annual guidance. The company’s adjusted net earnings went up 51% to $192.8 million year over year.
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J. Paul Rollinson, the President and CEO of the company said, “Our diversified portfolio of mines performed well to start the year, as we continued to mitigate the impacts of COVID-19 across all our operations and projects.” The company’s three largest producing mines delivered its lowest costs for the quarter too. This was at the Paracatu, Kupol, and Tasiast mines. These mines accounted for 60% of Kinross’s total production. So will KGC stock make it onto your watchlist?
Gold Stocks In June 2021
As the world pushes for reopening and getting rid of the COVID-19 virus at a fast rate, gold stocks will be changing a lot soon. The problem is nobody knows what is going to happen in the coming months. That is why it is important to stay up to date with what is happening in the market if you are looking to invest. So which companies will make your gold stock watchlist this month?
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