In the last month, gold stocks have remained at a steady price point. This is because of price of gold has been close to $1,900 per ounce, but has not broken through it yet. Just because gold prices are stagnant or lowing, does not mean that all gold stocks are going to perform negatively. In fact, there are plenty of gold stocks that perform well in this environment.
There are so many things that can impact the price of gold stocks. World news has a huge effect on the yellow metal. This was proven in the last year and a half with the COVID-19 pandemic. Sector news is also very important to note when investing. This can mean things like shortages, demand, inflation, and more. Company specific news often has a large effect on gold companies, especially during times where the price of the metal itself is not moving very much.
Gold stocks are not the only type of mining stocks that are performing well in the market. Many investors turn to silver stocks as they often follow a similar pattern as gold and are less expensive. Take this with a grain of salt though, as silver does have many things that impact it by itself. Some investors believe that the hype is over for gold, or that it is a bad time to invest in the sector. But there are still many gold stocks that are increasing in value at the moment, or have potential. The world is in a volatile state, yet many gold stocks are increasing in price. So let’s look at three that are performing well in June 2021.Top Gold Stocks To WatchSandstorm Gold (NYSE: SAND)
Sandstorm Gold is a gold stock that acquires the metal itself and purchase agreements from different types of mining corporations. The companies in question actively have advanced stage development projects or operating mines. Sandstorm pays up front for companies to acquire gold streams or royalties and has rights to purchase a percentage of the production for the life of the mine. Let’s see how Sandstorm has performed in 2021 so far.
Its last earnings report missed estimates, yet the company is still performing well. This is because, despite this, some of Sandstorm’s numbers were record-breaking. To be specific, its attributable gold equivalent ounces sold was a company record. Its revenue, cash flow, and more also broke company record. Now SAND stock will generally move with the price of gold at the moment. Other than voting results from a shareholder meeting, the company has not released much recent information. Will you add SAND to your list of gold stocks to watch?IAMGOLD Corporation (NYSE: IAG)
IAMGOLD Corporation is a gold stock that explores, develops, and operates many gold mining properties throughout both North America, South America, and West Africa. Currently, it owns interest in the Roebel mine, Essakane mine, Westwood mine, and more.
The company’s latest update was right at the end of May on the 31st. The company announced the filing of an early warning report in connection with Dundee Precious Metals’ proposed acquisition of INV metals. IAMGOLD has agreed to vote all of its common shares of INV Metals in favor of the acquisition by way of plan of arrangement. The company recently reported positive first quarter results as well.
President and CEO Gordon Stothart said, “In the first quarter 2021, the IAMGOLD team made good progress toward our operating and development goals. Our operations generated $89.5 million in mine-site free cash flow and we ended the quarter with approximately $1.5 billion in available liquidity. Production was strong at Essakane and as expected at Westwood’s Grand Duc open pit, with Rosebel and satellite Saramacca impacted by unusually heavy seasonal rains and COVID-19 restrictions.” Will IAG make your gold stock watchlist?Newmont Corporation (NYSE: NEM)
Newmont Corporation is a mining corporation that produces and explores for silver, gold, copper, zinc, and lead. Its land is located in the United States, Mexico, Canada, Peru, among other countries. The company had proven and probable gold reserves as of December 31st 2019 that totaled 100.2 million ounces. Overall Newmont Corporation holds more than 68,000 square km of land. So what has Newmont been up to recently?
In mid-May, Newmont acquired GT Gold Corp. The company acquired the remaining 85.1% common shares it did not already own. The President and CEO Tom Palmer said, “With the acquisition of GT Gold and the Tatogga project in the highly sought-after Golden Triangle district of British Columbia, Canada, Newmont continues to strengthen our world-class portfolio.”
The acquisition includes the Tatogga project which has the potential to contribute future significant gold and copper annual production. There are other exploration opportunities beyond the area within the land package as well. This Tatogga project adds to Newmont’s existing interest in the Golden Triangle through its 50% ownership in the Galore Creek project.The Future of Gold Stocks
Nobody knows what direction gold stocks could move in right now. But gold prices remain stable as economic recovery is taking place. Unemployment numbers are falling which is contributing heavily to gold’s price movement. Another factor impacting the metal is increased retail sales as reopening continues onwards throughout 2021. Industrial use of gold for different products and machinery is also increasing. So which gold companies will make your watchlist?