Will you be watching these gold stocks?
The price of gold stocks can be influenced by a variety of factors. The yellow metal is heavily influenced by world events. The COVID-19 pandemic over the last year and a half has demonstrated this. When it comes to investing, it’s also crucial to keep up with industry news. This can include shortages, demand, inflation, and other factors. Company-specific news has a big impact on gold companies, even when the metal’s price isn’t moving significantly.
If you’re looking to invest in gold stocks, it’s critical to do your homework. Some people believe that you should just buy gold stocks based on recent news. While recent news certainly plays a role in investing, there are other additional considerations. These include examining a gold stock’s volume as well as other news items that may have an impact on the price, such as jobless reports.
Gold stocks aren’t the only ones doing well in the stock market. Silver stocks are popular among investors because they frequently follow the same trend as gold and are less expensive. However, take this with a grain of salt, as silver is influenced by some other factors too. Some investors assume that the gold craze has passed them by, or that now is a bad time to buy. However, there are still a number of gold stocks that are either gaining in value or have the potential to do so. Despite the fact that the world is in turmoil, several gold stocks are rising in value. So let’s take a look at three of the best performers in November 2021.
Top Gold Stocks To Watch
- Barrick Gold Corporation (NYSE: GOLD)
- Sandstorm Gold Ltd. (NYSE: SAND)
- Newmont Corporation (NYSE: NEM)
Barrick Gold Corporation (NYSE: GOLD)
Barrick Gold Corporation is an exploration, mining, development, production, and sales company for gold and copper. The company-owned and operated gold mines in 12 countries as of the end of 2019, with 71 million ounces of proven and probable gold and copper reserves. Barrick Gold is currently one of the most active gold producers in the world.
The business stated on October 18th that it had established a community development fund for its Veladero mine. The fund will be funded with 1.5 percent of the Veladero gold mine’s expected $138 million in sales. This will be for the duration of the mine, which is scheduled to last until 2030 at the earliest.
CEO of Barrick Gold, Mark Bristow said, “We’re working to extend Veladero’s life beyond its current horizon and a new 10-year production plan is already in place. Following the recent completion of the mine’s Phase 6 heap leach facility, construction of Phase 7 will start soon, with an investment in the range of $140 million.” On November 5th, GOLD stock is up over 2.5% in the market. With this in mind, will GOLD stock be on your November watchlist?
Sandstorm Gold Ltd. (NYSE: SAND)
Sandstorm Gold is a gold company that purchases both the metal and purchase agreements from several mining companies. The firms in question are actively developing or operating mines in various stages of development. Sandstorm pays up front for gold streams or royalties, and it has the right to buy a share of the production for the mine’s whole life.
On November 3rd, Sandstorm reported its third-quarter results for 2021. The company achieved revenue of $27.6 million compared to $23.3 million the previous year. It also achieved higher attributable gold equivalent ounces at 15,514 ounces. Its cash flows from operating activities grew more than $2 million year over year.
The President and CEO of the company, Nolan Watson said, “We are very pleased that Sandstorm is able to sustainably support a dividend program while maintaining a competitive industry position that enables the continued growth of our asset base—both for the benefit of shareholders.” With this new info in mind, will SAND be on your list of gold stocks to watch this week?
Newmont Corporation (NYSE: NEM)
Newmont Corporation is a silver, gold, copper, zinc, and lead mining company that produces and explores for these metals. Its land is spread across several nations, including the United States, Mexico, Canada, and Peru. As of December 31, 2019, the firm had 100.2 million ounces of proven and probable gold reserves. Newmont Corporation owns almost 68,000 square kilometers of property in total.
On October 28th, Newmont reported its third-quarter results for 2021. During this period the company has been advancing its near-term projects and progressing Yanacocha Sulfides. The company updated its guidance to 6 million ounces of production, reaffirming its original guidance of 1.3 million gold equivalent ounces from copper, silver, lead, and zinc.
CEO and President of Newmont, Tom Palmer said, “A year ago, we announced our industry-leading dividend framework, establishing a clear pathway for stable and predictable returns. Over the last four quarters, Newmont has steadily reinvested in our operations while returning more than $2 billion dollars to shareholders through dividends and share buybacks, demonstrating our confidence in the long-term value of our business and our ability to maintain financial flexibility.” Based on this new info, will NEM be on your gold stock watchlist?
Gold Stocks In The Future
Right now, no one knows which way gold stocks will move. However, as the economy recovers, gold prices remain in the same relative range. Unemployment is decreasing, which has a significant impact on gold’s price movement. Increased retail sales as the reopening proceeds until 2021 are another element affecting the metal. The usage of gold in industry for various products and machines is also on the rise. So, which gold companies will you be keeping an eye on?
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