Are these the top gold stocks to watch before this month ends?
When it comes to 2021, gold stocks have underperformed, to say the least. Regardless, the metal has remained an attractive investment to many. As you may know from last year, COVID-19 caused gold prices to skyrocket. In turn, gold stocks also went up a lot in value. This had to do with the economy crashing, and with that, more government stimulus was issued.
For a while, things seemed grim for gold stocks as COVID-19 cases started dropping at a fast rate due to vaccinations. But now, COVID-19 case counts are increasing once again because of the Delta variant of the virus. With increased cases, the chance of more stimulus being issued is very high.
Still, many gold stocks have gone down this year despite reporting positive earnings. This means that the most expensive gold stocks are lower than they have been in a while. These prices can be attractive to investors who like to buy the dip. If COVID-19 cases continue rising in the United States, it could potentially cause the stock market to crash once again. But the truth is, nobody knows what direction gold stocks truly could be headed in at the moment. While gold’s price is not near its low right now, it is also not near its recent high either. Keeping all of this in mind, let’s look at some gold stocks that may make your watchlist before August 2021 ends.
Top Gold Stocks To Watch
- Barrick Gold Corporation (NYSE: GOLD)
- Coeur Mining Inc. (NYSE: CDE)
- Golden Star Resources Ltd. (NYSE: GSS)
Barrick Gold Corporation (NYSE: GOLD)
When it comes to the biggest gold stocks, Barrick Gold Corporation is among the top. In fact, Barrick is currently the second biggest gold mining corporation on the planet. It currently operates mines in 12 different countries. This company engages in exploration, mine development, production, and sale of its materials. In addition to gold, the company also mines for copper.
On August 13th, the company announced that it has joined a challenge to decarbonize surface mining. This challenge is called the Charge on Innovation Challenge, which aims to cut emissions from surface mining. So far, more than 350 companies from 19 industries have registered their interest as vendors for the challenge.
The President and CEO Mark Bristow said, “At Barrick, we have set ourselves an emissions reduction target of 30% by 2030 against our 2018 baseline and our vision is to achieve net-zero emissions by 2050. While we have already made clear strides in meeting these targets, we are constantly looking at new and innovative ways to further enhance our environmental credentials.” On August 20th, GOLD stock increased by 0.52% in the market. With this new information in mind, will Barrick GOLD stock make your watchlist?
Coeur Mining Inc. (NYSE: CDE)
Coeur Mining Inc. is a gold stock that just went up 0.16% in the market. This is a mining stock that explores for, develops, and produces gold, silver, zinc, and lead. Its properties are located in Nevada, Alaska, Mexico, Canada, and South Dakota. It holds more than 200,000 net acres of land in total.
At the end of July, the company reported its second-quarter results for 2021. The company’s revenue increased 6% quarter over quarter during this period. In addition to this, its quarterly revenue went up by an impressive 39% year over year. This occurred because of higher gold and silver ounces sold, and a higher average realized silver price. The company also reported higher quarterly production and expects more in the second half of the year.
President and CEO Mitchell J. Krebs said, “We anticipate production to continue increasing during the second half of 2021, particularly from our Wharf and Rochester operations, and expect to achieve our full-year production guidance for both gold and silver. We also accelerated investment on the POA 11 expansion project at Rochester during the quarter.” Noting this new information from Coeur Mining, will you add CDE to your list of gold stocks to watch?
Golden Star Resources Ltd. (NYSE: GSS)
Golden Star Resources Ltd. is a gold mining and exploration corporation located in Canada. The company operates and owns the Wassa open-pit gold mine located in Tarkwa, Ghana. It correspondingly owns processing plants and underground mines too. These mines include the formerly Bogoso gold mining and processing operation in Prestea, Ghana.
At the end of July, the company reported its results for the three and six months ended June 30th, 2021. The company announced that it remains on track to deliver on its recently revised production guidance for the year.
CEO Andrew Wray said, “Our primary objectives for H1 2021 were to continue positioning the business for future production growth, as well as to be able to address the repayment of the $51.5m Convertible Debentures in August 2021. With the increase in the cash position to $72.7m during the quarter and the successful refinancing of the Macquarie Credit Facility, we now have adequate liquidity to be able to cash settle the Convertible Debentures on maturity.” With this in mind, will GSS make your gold stock watchlist?
Gold Stocks in August 2021
It can be difficult to decide which gold stocks may be the best for you with so much to consider. That is why it is important to conduct proper research in companies before making an investment. The market for gold stocks is rather volatile at the moment, which complicates this choice. But staying up to date on the latest sector news, world news, and company news can be very useful in the process. So which gold stocks will make your watchlist this month?
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