Which gold stocks are you watching right now?
We’ve all heard about the enormous price increase in gold stocks in 2020. In March, when the epidemic was wreaking havoc on the economy, the metal fell short. Then, one month later, gold stocks experienced a massive surge. As a result, the price of gold in the market reached new highs last year. So, what is the current state of gold stocks?
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 well. COVID-19 instances are rapidly declining in the United States at the moment. This is due to the massive volume of vaccine distribution that is taking place. Approximately 58.9 percent of the US population has been immunized against COVID-19. At the same time, there are concerns that the delta variation could cause significant harm.
Because of the current status of the world, gold stocks are volatile. It is critical to understand the gold stocks in which you are investing. Check out the most current advancements, gold prices, volume, and other factors to see if a gold stock is suited for you. There is also a lot of concern about 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
- Agnico Eagle Mines Limited (NYSE: AEM)
- Barrick Gold Corporation (NYSE: GOLD)
- McEwen Mining Inc. (NYSE: MUX)
Agnico Eagle Mines Limited (NYSE: AEM)
Agnico Eagle Mines Limited is a company that explores, develops, and produces mining properties. It has properties in areas including Canada, Mexico, and Finland, among others. It will mine gold, silver, zinc, and copper, in addition to producing and selling gold. The company’s main asset is the LaRonde mine in Canada.
Kirkland Lake Gold announced on November 10th that ISS had recommended 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 information, is AEM going to be on your list of gold stocks to watch?
Barrick Gold Corporation (NYSE: GOLD)
Barrick Gold Corporation is a gold and copper exploration, mining, development, production, and sales corporation. As of the end of 2019, the firm owned and operated gold mines in 12 countries, with 71 million ounces of proved and probable gold and copper reserves. Barrick Gold is currently one of the world’s most active gold producers.
On October 18th, the company announced the creation of a community development fund for its Veladero mine. The fund will be supported with 1.5 percent of the estimated $138 million in revenues from the Veladero gold mine. This will be for the duration of the mine, which is expected to last until at least 2030.
The 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.” Based on this new info, will Barrick GOLD stock be on your watchlist?
McEwen Mining Inc. (NYSE: MUX)
McEwen Mining Inc. is a corporation that specializes in mineral resource discovery, development, production, and sales. This company searches for metals such as silver, gold, and copper. It owns a 100% share in the El Gallo project, the Fenix project, the Black Fox mine, and a number of other projects. It has hotels throughout Mexico, Canada, Argentina, and the United States that it owns and runs.
On November 3rd, McEwen released their third-quarter results for 2021. The company indicated that it is on track to meet its 2021 production goals. The company believes it has made significant progress in terms of operations and finances. As of September 30th, 2021, McEwen has $72.7 million in cash and liquid assets and $45.8 million in working capital.
The company stated, “We continue to execute our turnaround strategy and have made significant progress both from an operational and a financial perspective. We expect this trend to continue with the ongoing production ramp-up from the Froome deposit at the Fox Complex.” Based on this new information, is MUX on your gold stock watchlist this month?
Top Gold Stocks To Buy?
It can be difficult to decide which gold stocks to follow right now. That is why, even if the plan is modest, it is critical to create one. Examine charts, volume, pricing, current news, and other factors to see if a gold stock is good for you. With so many gold stocks to follow, it can be tough to select which ones to keep an eye on. So, which gold stocks will you be keeping an eye on as we enter November?
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