Are these gold stocks on your watchlist this week?
To say the least, many gold stocks have underperformed in the year 2021. Regardless, many people find gold to be an appealing investment. COVID-19, as you may recall from last year, caused gold prices to spike. As a result, gold stocks skyrocketed in value. This was due to the economy collapsing, and more government stimulus was granted as a result.
As the world changes, gold stocks have had an intriguing time in the market. The pandemic is one of the reasons gold stocks are performing so poorly. COVID-19 cases are currently on the decline in the United States. This is due to the massive volume of vaccine distribution that is now taking place. COVID-19 vaccination has been given to about 59 percent of the population in the United States. Simultaneously, there are concerns that the delta variety could cause serious harm.
Because of the current status of the world, gold stocks are extremely volatile. It’s critical to understand which gold stocks you’re buying. To see if a gold stock is good for you, look at recent advancements, gold prices, volume, and more. In addition, there are numerous fears of inflation in the market right now. Nobody really understands how this will influence the gold stock market. For the time being, let’s look at three gold stocks that could perform well this month.
Top Gold Stocks To Watch
Kinross Gold Corporation (NYSE: KGC)
Kinross Gold Corporation is a mining company that currently explores for land, acquireS land, and develops gold-related assets on its properties. This company has operations in the United States, Canada, Russia, and many other countries. Additionally, Kinross extracts and processes gold ore. Then it will produce and sell the precious minerals.
On November 10th, the company reported its third-quarter results for 2021. Currently, Kinross is on track to meet its revised production guidance of 2.1 million gold equivalent ounces give or take 5%. It expects production to increase in the following two years to 2.7 million and 2.9 million respectively. The company’s operating cash flow was $190.5 million during this period as well.
President and CEO of Kinross, J. Paul Rollinson said, “During the third quarter, our portfolio of mines performed well and we are on track to meet our revised production and cost guidance for the year. We maintained our balance sheet strength while enhancing shareholder returns, as we initiated our share buyback program in addition to declaring our quarterly dividend.” Based on this new info, will KGC be on your list of gold stocks to watch?
McEwen Mining Inc. (NYSE: MUX)
McEwen Mining Inc. is a gold and silver prospecting company that works in the Americas. McEwen is involved in the research, development, and marketing of these goods. The corporation primarily operates in the United States, Canada, Mexico, and Argentina. Among its current operations are the Gold Bar mine, the Black Fox mine, and the El Gallo Project.
McEwen revealed its third-quarter results for 2021 on November 3rd. The corporation stated that it is on track to reach its production targets for 2021. From an operational and financial basis, the corporation believes it has achieved substantial progress. McEwen had $72.7 million in cash and liquid assets and $45.8 million in working capital as of September 30th, 2021.
Now, the corporation is investing $6.2 million in exploration and $4 million in advanced projects “aggressively.” “These investments in our future growth and profitability accounted for a significant portion of our reported net loss of $17.4 million, or ($0.04) per share, compared to a net loss of $9.8 million, or ($0.02) per share in Q3 2020,” the business stated. Will MUX stock make your watchlist after rising 13% in 2021?
Gold Fields Limited (NYSE: GFI)
Gold Fields Limited is a resource and reserve mining company that provides and produces resources and reserves. Chile, South Africa, Australia, Ghana, and Peru are among its assets. It now operates 9 mines that produce 2.2 million ounces of gold equivalent per year. Gold Fields has 51.3 million ounces of mineral reserves and 115.7 million ounces of mineral resources.
On November 10th, the company released an operational update for the quarter ended September 30, 2021. The company had attributable gold equivalent production for the third quarter up 9% year over year. Its all-in cost increased by 18% year over year because of capital expenditure at Salares Norte increased from $23 million to $108 million.
The company stated, “Attributable gold equivalent production is expected to be between 2.30Moz and 2.35Moz. As previously guided, AISC is expected to be between US$1,020/oz and US$1,060/oz, with AIC expected to be between US$1,310/oz to US$1,350/oz. If we exclude the very significant project capex at Salares Norte, AIC is expected to be US$1,090/oz to US$1,130/oz.” Will GFI be on your
gold stock watchlist right now?
Top Gold Stocks To Buy Right Now?
It’s difficult to know which gold stocks are the greatest to buy. Because the market is so volatile right now, it’s critical to perform a lot of research before investing. Many gold stocks are expected to rise in value in November 2021. So, which gold stocks are you going to keep an eye on?
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