These gold stocks have a lot of potential in the market
You’ve seen how news can impact the price of gold stocks in the past. This was especially relevant last year, which was a year of more news than ever. The pandemic caused mining resources to boost to levels never seen before. The price of gold went up above $2,000 which was a record high for the yellow metal.
But where do things stand for gold stocks in 2021? The price of gold has stayed relatively the same over the last few months. But often, the metal sees an uptick or goes down in the market. So that is why it can be difficult to decide which gold stocks are the best to watch. Looking at different types of news can help when deciding which gold stocks to invest in.
The reason news is important, is because this is the primary way to get information that may directly impact the direction in which gold stocks are moving. But big media news is not the only type of news that impacts the prices of mining stocks. News related to companies is important as well. This can include a variety of topics such as controversy, advancements, and updates. Let’s take a look at three gold stocks that could potentially enter your watchlist this week.
Top Gold Stocks To Watch
- New Gold Inc. (NYSE: NGD)
- Harmony Gold Mining Company Limited (NYSE: HMY)
- Hecla Mining Corporation (NYSE: HL)
New Gold Inc. (NYSE: NGD)
New Gold Inc. is a mining corporation that explores for gold, silver, and copper deposits at locations in both Canada and Mexico. The company operates the New Afton Mine in Canada, the Rainy River mine in Canada, and the Cerro San Pedro mine in Mexico. It also has 100% interest in the Blackwater project in Canada.
On August 11th, the company reported its second-quarter results for 2021. Its total gold equivalent ounces production for the quarter was 105,705. The company reported revenue of $198 million, and adjusted net earnings of $27 million.
President and CEO Renaud Adams said, “I am especially proud of the free cash flow generated in the quarter even at our planned lower grade. While Rainy River experienced challenges in July, the mine has reached an inflection point and I expect it to contribute meaningful free cash flow going forward.” Will NGD enter your list of mining stocks to watch in 2021?
Harmony Gold Mining Company Limited (NYSE: HMY)
Harmony Gold Mining Company Limited is a mining corporation that just increased in market value. This company explores for, extracts, and processes gold in various locations around the world. These locations include both South Africa and Papua New Guinea. In addition to gold, the company also mines for silver, copper, and uranium deposits. Presently, Harmony operates 9 underground operations and various surface treatment operations in South Africa.
On August 26th, the company released a trading statement and operating update for the year ended June 30th, 2021. Harmony announced an increase in earnings, revenue, and a higher reported translation gain on its US$ denominated debt compared to a loss the year before.
HMY stock is often impacted by gold, silver, and uranium prices even when the company has not released any recent news. On August 31st, the company will release its financial results for the fourth quarter of the fiscal year 2021. With this to keep in mind, will HMY make your gold stock watchlist in August before these financial results are released?
Hecla Mining Corporation (NYSE: HL)
Hecla Mining Company is a mining stock that discovers, acquires, and develops mineral properties all over North America. This includes producing precious metals like lead, zinc, silver, gold, and more. Let’s look at what this large mining company has been up to in recent history.
On August 5th, the company released its financial results for the second quarter of 2021. Its sales went up to $218 million in the quarter, which was an increase of 31%. The largest source of this increase in sales was those with silver. Hecla’s adjusted EBITDA rose by 31% in this quarter as well.
The President and CEO of the company, Phillips S. Baker Jr. said, “We generated over $54 million of free cash flow due to a combination of lower treatment charges, increasing throughput and recoveries, and higher prices. Our American silver mines produce more than 40% of all the silver mined in the United States and with silver being important for the transformation to renewable energy, electric vehicles, and 5G, Hecla’s growing silver production and low costs make it well-positioned for even better results in the future.” Considering these new financial results, will HL make your watchlist for gold stocks in 2021?
Top Mining Stocks To Buy This Year?
Deciding which mining stocks are the best to buy can be a difficult task sometimes. It can make this choice easier if you develop an investment plan. Even looking at charts, volumes, and recent news can be very helpful when narrowing down which mining stocks to keep your eyes on. For now, which gold mining stocks will make your watchlist before September arrives?
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