3 Gold Stocks To Watch This Week
So you want to invest in gold stocks. Where do you even start? There are numerous mining stocks to potentially watch, but gold appears to be the most popular. This has been a recurring theme throughout history. When the US dollar is performing poorly, consumers often shift their money into a physical asset such as gold or silver. So it’s no surprise that when the pandemic started last year, it prompted the greatest gold rally in history.
The world is seeing a massive decline in COVID cases. With that has come minimal restrictions in most states as of the end of 2021. Clubs and bars are open, people are out in the world again, and vaccine numbers are rising. So why is gold still performing well despite this societal recovery? Well, there are major supply chain issues in not just the United States, but the world right now. Chip shortages, late products, ships stuck in the ocean because of full ports, and more are all contributing to major economic obstacles in 2021.
There was a lot of damage done, and it will take a long time to repair everything. As a result, gold is still able to perform well in the market for the time being. Some analysts believe it may even rise in value again. For the time being, 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
- Harmony Gold Mining Company Limited (NYSE: HMY)
- Fortuna Silver Mines Inc. (NYSE: FSM)
- IAMGOLD Corporation (NYSE: IAG)
Harmony Gold Mining Company Limited
Harmony Gold Mining Company Limited is a recently outperformed gold stock. This company seeks, extracts, and processes gold, silver, copper, and uranium. It is currently active in South Africa and Papua New Guinea, both of which have proven to be successful for the company.
According to the most current announcement, the company’s earnings and revenues grew year over year in fiscal year 2021. This was due to increased metal prices and the company’s rapid growth. Given that Harmony hasn’t provided any updates in a while, it’ll be intriguing to see what they have in store for their shareholders before the end of the year.
The stock price of HMY fluctuates in tandem with the price of gold. As a result, when gold prices climb dramatically, HMY stock frequently follows suit. When the price of gold falls substantially, the HMY stock typically falls with it. Will HMY be on your gold stock radar after rising more than 5% on November 30th?
Fortuna Silver Mines Inc. (NYSE: FSM)
Fortuna Silver Mines is a company that explores, extracts, and processes precious metals. The company is looking for reserves of silver, gold, zinc, and lead. Its main assets include the Cayloma and San Jose mines, as well as the Lindero Gold Project.
The business recorded a record third-quarter 2021 output of 87,950 gold equivalent ounces on October 12th. Its overall gold production in the quarter was 26,235 ounces. It produced 68,088 ounces of gold in the first nine months of 2021. This figure is consistent with the company’s revised annual outlook.
According to the firm, “gold production was 1,529 ounces, a 12% increase over the third quarter of 2020.” The increased output is due to higher head grades in the Animas NE vein. Gold output for the first nine months of 2021 reached 4,712 ounces, which was higher than expected.” Will FSM stock be added to your watchlist as a result of this new information?
IAMGOLD Corporation (NYSE: IAG)
Another gold stock that has fared nicely in the last month is IAMGOLD Corporation. This firm searches for, develops, and operates gold mining assets. These mines can be found throughout the Americas and West Africa. It now owns a stake in the Rosebel mine, the Essakane mine, the Westwood mine, and several others.
The corporation released its preliminary operating results for the third quarter of 2021 on October 19th. During this time, all of its mines produced very positive results. The company’s Essakane mine produced in line with the previous quarter, with an average recovery of 83 percent at 3.3 million tons. During this time, the Rosebel mine also provided positive results.
Gordon Stothart, the President, and CEO of IAMGOLD said, “We achieved attributable production of 153,000 ounces during the third quarter and are pleased that our total attributable production is trending towards the upper end of the guidance range. Essakane continues to deliver strong results and Rosebel is performing in line with the updated plan.” With this in mind, will IAG make your gold stock watchlist?
Best Gold Stocks?
It’s difficult to know which gold stocks to invest in. Before investing in mining stocks, there are various variables to consider. However, conducting considerable research and selecting what is best for you will be quite valuable during the process. Which gold stocks will you be watching for the time being?
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