Many gold stocks have experienced a rally like no other in 2020. The pandemic and crashing economy caused the price of gold to rise exponentially. At one point, the price of gold reached above $2000 per ounce, which was a new record high for the yellow metal. Even in times where the economy was bad, gold never reached up this high. Now gold stays in the $1800 realm as certain things are holding it back from performing better. Vaccine distribution all over the world at the moment is bringing the price of gold down.
Another thing impacting prices is the stimulus bill that was just passed. The stimulus bill will give Americans less money than some expected so gold prices fell. But this could bring them back up once money starts being issued. Gold went from $1,880 an ounce to $1,865 an ounce as of December 22nd. In regards to the vaccine, nobody knows if it will be effective yet. Many people are choosing to not take it yet too, just to see what happens. Some won’t take it at all. So time will tell if that is something that becomes effective. These are all of the things that are impacting gold stocks at the moment. It is also important to look at things like unemployment rates and volume when looking to find gold stocks for your watch list. Now let’s look at four gold stocks that have been trending in the market.Top Gold Stocks To Buy [Or Sell]: Yamana Gold Inc.
The first gold stock to watch on this list is Yamana Gold Inc. (AUY Stock Report). Yamana Gold is a precious metal producer that will explore for and produce primarily gold, but also silver. Its primary mines are the Cerro Moro mine, Malartic mine, Jacobina mine, among many others. The company also has an agreement to acquire the Wasamac property and Camflo property located in the Abitibi region of Quebec. Most of Yamana’s assets are located in Canada, Brazil, and Chile. Let’s see what this gold stock’s performance has been in recent history.
On December 17th, Yamana Gold announced the completion of the Agua Rica Project and Alumbrera plant and related infrastructure. In turn this created a significant and far advanced gold and molybdenum development stage project. It will be one of the lowest capital intense projects in the world. The executive chairman of Yamana, Peter Marrone said, “Leveraging existing infrastructure enhances project economics, simplifies permitting, and reduces the project’s environmental footprint, thereby significantly enhancing the value of the project.” AUY stock price has gone from being under $4 a share to being at $5.53 a share on average as of December 22nd 2020. This increase in AUY stock is attributed to financial results, as well as rising gold and other metal prices.Top Gold Stocks To Buy [Or Sell]: Newmont Corporation
The next company on this list of gold stocks is Newmont Corporation (NEM Stock Report). Newmont is a production and exploration based company. Its primary searched for minerals are gold, copper, silver, zinc, and lead. Currently Newmont has operations all over the world, including places like the United States, Dominican Republic, Canada, Mexico, Peru, Argentina, and many more. As of December 31st 2019, the company had proven and probable gold reserves of 100.2 million ounces and land position of 68,300 square kilometers. The company has an active agreement with Kirkland Lake Gold (KL Stock Report) to assess regional exploration opportunities around its Timmins properties. Let’s see what Newmont has been up to in recent history.
On December 18th, the company announced that itself and JV Partners have achieved a key integration milestone at Agua Rica and Alumbrera. The CEO and President of Newmont said, “I am pleased to see this partnership complete the integration of the projects. Joining the Agua Rica ore body with the high-quality infrastructure from Alumbrera will ensure the sustainability of both sites’ resources.” The integration of the assets will finalize the joint venture between Newmont who has 18.75%, Glencore International AG who has 25% and Yamana Gold who has 56.25%. NEM stock is at $59.60 a share on average.Top Gold Stocks To Buy [Or Sell]: Alamos Gold Inc.
Now let’s talk about Alamos Gold Inc. (AGI Stock Report). Alamos Gold is an acquisition, exploration, development, and extraction based mining company. While the company’s main asset is gold, it will also explore for silver and other precious metals as well. Its flagship project is the Young-Davidson mine, which has claims and leases totaling over 11,000 acres in Northern Ontario Canada. Additionally, Alamos has interest in projects located in the United States, Mexico, and Turkey.
[Read More] Gold Stocks For Your December 2020 Watch List
On December 18th, the company announced the renewal of normal course issuer bid. It has filed with the Toronto Stock Exchange for a notice of intention to make a normal course issuer bid permitting the company to buy for cancellation up to 35,145,504 class A common shares. AGI stock price is at $8.86 a share on average as of December 22nd, 2020. It started 2020 under $6 a share on average.Top Gold Stocks To Buy [Or Sell]: DRDGOLD Limited
The final company on this list of gold stocks is DRDGOLD Limited (DRD Stock Report). DRD Limited is a gold mining company that will actively engage in the surface gold tailings retreatment business. Its operations are executed out of South Africa. DRDGOLD Limited will participate in exploration, extraction, processing, and smelting as well. It recovers gold from surface tailings located in the Witwatersrand basin in the Gauteng province.
When 2020 started, DRDGOLD was at $5.70 a share on average. Since then, DRD stock has gone up to $11.43 a share on average. This 100% increase in DRD stock price shows the positive performance the company has experienced this year. DRD stock is moving upwards because of company advancements and the price of precious metals going upwards. It will be interesting to see what is in the company’s next financial reports.