Many gold stocks are rising in value as gold prices go up.
So you’ve decided to put your money into gold stocks. What do you do first? There are many mining stocks to keep an eye on, but gold appears to be the most popular. This has been a common occurrence throughout history. People frequently convert their money into real assets such as gold or silver when the US currency is performing poorly. It’s no surprise, however, that when the pandemic hit last year, it ignited the greatest gold rally in history.
Gold hit all-time highs in mid-2020, but where is it now? The price of gold is currently above $1,800 per ounce and has been for some time. Sure, it’s not as high as it was last year, but it’s still a significant increase for the yellow metal.
This is due to a number of factors. One has to do with inflationary anxieties. Furthermore, the economy has only recently begun to revive, and this is a process that could take years to complete. There was a lot of damage, and it will take a long time to repair it all. As a result, gold is still able to dominate the market for the time being. Some analysts believe it could even increase in value. Let’s take a look at several gold stocks that you might want to keep an eye on this week.
Top Gold Stocks To Watch
- Agnico Eagle Mines Limited (NYSE: AEM)
- Royal Gold Inc. (NASDAQ: RGLD)
- Hecla Mining Company (NYSE: HL)
Agnico Eagle Mines Limited (NYSE: AEM)
Agnico Eagle Mines Limited is a mining property exploration, development, and production firm. It has properties in Canada, Mexico, and Finland, among other places. It will mine gold, silver, zinc, and copper, as well as produce and sell gold. The LaRonde mine in Canada is the company’s principal asset.
On November 10th, Kirkland Lake Gold reported a favorable recommendation from ISS for a merger of equals with Agnico Eagle Mines Limited. ISS stated that there is “sound strategic rationale for a combination with AEM and the all-stock consideration provides an opportunity for shareholders to participate in the potential upside represented by a more diversified set of operating assets and exploration portfolio” Based on this new info, will AEM stock make it to your watchlist?
Royal Gold Inc. (NASDAQ: RGLD)
Royal Gold Inc. is a royalty-based gold stock that acquires and manages royalties and metal streams. The company accomplishes this for stream or royalty interests. Royal Gold’s target minerals are are gold, silver, copper, zinc, nickel, lead, and cobalt. Currently, the company has 189 locations on 5 continents. Royal Gold operates 41 mines and 17 developmental stage projects.
On November 3rd, Royal Gold reported its revenue and operating cash flow for the September Quarter of 2021. The company set a record for its revenue at $174.4 million during this period. 73% of its revenue is from gold, 10% is from silver, and 14% is from copper. The company also reduced its debt by $50 million in total.
“I am pleased to report that Royal Gold turned in another quarter of very strong financial and operating performance with record revenue, operating cash flow, and GEO volume in the September quarter. The portfolio continued to deliver consistent gold-focused revenue and we saw excellent progress at our newest portfolio assets.” On November 12th, RGLD stock is up 0.67% in the market. With this in mind, will RGLD be on your gold stock watchlist?
Hecla Mining Company (NYSE: HL)
Hecla Mining is a silver stock that specializes in finding, acquiring, developing, and producing precious and base metal properties. These are mostly operated out of North America. Lead, zinc, silver, and gold bullion bars, among other things, are available. In the past year, the company’s mining operations have proven to be quite profitable.
On November 4th, reported its third-quarter results for 2021. During this quarter, Hecla reported sales of $193.6 million, consistent with last quarter. It also generated $42.7 million of cash provided by operating activities with $26.9 million of additions to assets. Hecla reported record quarterly exploration spend of $13.7 million.
President and CEO of Hecla, Phillips S. Baker Jr. said, “This operational performance allowed us to enhance our silver-linked dividend for the second time this year and return about 20% of our free cash flow to shareholders while having our largest exploration program in the company’s history.” In the last month, HL stock has gone up in the market. With that in mind, will HL be on your list of gold stocks to watch?
Top Gold Stocks To Watch?
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 November 2021?
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