Are these the best gold stocks to watch in October?
When the economy isn’t doing so well, gold stocks tend to outperform the market. This was notably evident in 2020 when the pandemic led to the dollar’s depreciation. As a result, gold’s price per ounce reached a new high. This sparked a lot of interest in gold stocks and attracted a lot of new investors.
The VanEck Vectors Gold Miners ETF (GDX) are generally what gold stocks move based on. This ETF hasn’t had the best year, with its total return being negative. This has occurred as a result of the economic recovery brought about by the pandemic’s slowdown. Despite this, gold prices are currently very high and have not significantly decreased in price in a long time.
Things can become volatile when investing in gold stocks in 2021. Figuring out an investment strategy that works for you is critical. When trading gold stocks, many investors will establish a stop-loss amount. This means that your shares will be sold if the price of a gold penny stock falls below a specified level. When it comes to gold investing, even keeping up with the newest news can be beneficial as well. This includes company-specific news, world news, and sector news. Let’s now take a look at three gold stocks that are performing well in the market in October 2021, or have potential in the market.
Top Gold Stocks To Watch
- Barrick Gold Corporation (NYSE: GOLD)
- Kinross Gold Corporation (NYSE: KGC)
- AngloGold Ashanti Limited (NYSE: AU)
Barrick Gold Corporation (NYSE: GOLD)
Barrick Gold Corporation is one of the world’s largest gold producers. The company specializes in gold mine discovery, development, and production in diverse areas. The United States, Canada, Argentina, the Dominican Republic, and others are among them. In addition, the corporation owns copper mines in Chile and other countries.
The company stated back in August that it had joined a contest to decarbonize surface mining. The Charge on Innovation Challenge is a competition with the purpose of reducing emissions from surface mining. So far, more than 350 companies across 19 industries have expressed interest in participating in the competition as vendors.
The President and CEO of Barrick, 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.” It will be interesting to see how the company performs in the future. For now, will Barrick GOLD stock make your watchlist?
Kinross Gold Corporation (NYSE: KGC)
Kinross Gold Corporation is a gold mining company that searches for, acquires, and develops gold assets on its various sites. The corporation has operations in the United States, Canada, Russia, as well as other countries. It mines and refines gold ores before producing and selling the precious metals. As of December 31st, 2021, the company had 24.3 million ounces of proved and probable gold and 55.7 million ounces of probable silver.
The firm released its second-quarter results for 2021 on July 28th. Kinross’ updated production target of 2.1 million gold equivalent ounces is on track. Tasiast mill is expected to reopen in the fourth quarter of 2021, according to the business, which also announced a share buyback program. Now the company plans to release its third-quarter results on November 10th, 2021. It will be interesting to see if Kinross’ numbers have improved in this period of time. For now, is KGC a contender for your list of gold stocks to watch?
AngloGold Ashanti Limited (NYSE: AU)
AngloGold Ashanti Limited is the final gold mining stock to keep an eye on. This is a gold and silver mining corporation that also creates uranium and sulphuric acid. It presently owns and runs 14 mines and three projects in nine different countries. The Americas, South Africa, Continental Africa, and Australia are all included.
On September 2nd, the company and Latin Metals entered a non-binding letter of intent about three gold exploration projects in Salta Province, Argentina. This letter is regarding the Organullo, Ana Maria, and Trigal Gold Projects. The LOI gives the parties 90 days to negotiate and if deemed advisable enter an agreement. If agreed upon, AngloGold would be granted the option to acquire up to an 80% interest in the projects.
The President and CEO of AngloGold, Keith Henderson said, “Relatively advanced-stage exploration projects like Organullo require significant expenditures to assess the full potential of the project, which expenditures would otherwise need to be financed through dilutive equity financing. Under the terms contemplated by the LOI, Latin Metals would retain a significant minority position and have the opportunity to participate with AngloGold in a future joint venture.” Based on this new info, will AU be on your gold stock watchlist?
Top Gold Stocks To Buy?
Choosing which mining equities and gold assets to invest in might be tough. Creating an investment strategy is an excellent method to reduce some of the risks. Looking at the newest news, whether it’s company-specific, world, or sector-specific, is quite beneficial when investing. Examining charts, volume, and other data can also be beneficial. So, which gold mining stocks will you be keeping an eye on in October 2021?
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