Will these gold stocks increase in value next month?
Gold stocks have had quite an interesting run in the market since the pandemic started in early 2020. The pandemic caused gold to reach heights nobody expected. When the economy is worse and the government is issuing more stimulus, gold prices tend to trend upwards in the market. So when vaccine distribution began, gold prices fell. For a while, it seemed like everything would be ok for these mining stocks.
Then in 2021, many refused to get vaccinated and COVID-19 cases started rising once again. The Delta variant of the virus caused additional damage and made cases spike as well. So nobody truly knows what is gold to happen to gold at this point in time. The volatility of gold is also what has attracted many new investors to the sector.
Gold prices are at about $1,815 per ounce on the day of August 31st. While this number is not near its all time high it achieved last year, this is still a very strong number for gold to be at. So how do you know which gold stocks are the best to watch at any given time. Start by looking at the state of the world and how those things impact the sector. Things like the pandemic, job reports, and industrial news can all impact the sector. Then look at gold itself, if there’s a shortage or surplus, if it’s going down in value over time, etc. Finally, look at the company you are interested in investing in and see what it has been up to lately and how it is performing in the market. Let’s look at three gold stocks that are performing well in the market right now.
Top Gold Stocks To Watch
Barrick Gold Corporation (NYSE: GOLD)
Barrick Gold Corporation is a mining stock that is going up in the market today. This company explores for, mines, produces, and sells gold. Its gold mines are located in Mali, Argentina, Canada, the Dominican Republic, and many more. In addition to gold, Barrick also has ownership interests in copper mines.
On August 13th, Barrick joined the Charge on Innovation Challenge to decarbonize surface mining. This is an industry-wide effort to cut emissions from surface mining. The company’s CEO and President Mark Bristow has stated that the company is proud to lend its support and play a part in the initiative.
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.” The company is looking to innovate and further enhance its environmental credentials at the moment. Keeping this in mind, will GOLD stock make your watchlist in September?
New Gold Inc. (NYSE: NGD)
New Gold Inc. is another mining stock that develops and operates various mineral properties. This company explores for gold, silver, and copper deposits at its locations. The company’s main property is the Rainy River gold-silver mine in Canada. Additionally, it owns the New Afton gold-copper mine in Canada as well.
In mid-August, New Gold released a financial update for the first half and second quarter of 2021. New Gold’s total revenue was at $198 million for the quarter. Its total gold equivalent production for the quarter was 105,705. The company’s cash position at the end of the quarter was $138 million.
CEO and President 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.” The company believes it is on track to deliver an improved second half of the year. Noting this info, is NGD stock a contender for your watchlist this month?
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a gold stock that is going up in the market right now. This is a company that produces precious metals. Primarily, Yamana’s main focus is on silver and gold production at various properties. The company has development stage properties, exploration properties, and land positions. All of its locations are located in the Americas.
Back in July, Yamana Gold released its second-quarter production results. The company’s adjusted net earnings for the quarter were $70.7 million or $0.07 per share. Its cash flows and cash balances were stronger during the quarter too. Yamana often goes up or down because of gold prices. This makes it important to keep an eye on what is going on in this sector when investing. Now that you know this new information, is AUY a contender for your list of gold stocks to watch in September?
Gold Stocks To Buy Right Now?
When deciding which gold stocks to watch right now, things can often be confusing. That is why it is important to develop an investment plan, even if it is simple. Look at charts, volume, prices, recent news, and more to determine if a gold stock is right for you. With so many gold stocks to watch, it can be difficult to decide which one is going to make your watchlist. So which gold stocks are you going to keep an eye on as we move into September?
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