Investing in gold stocks can be a difficult process these days. If you look at the market, there are so many potential companies to invest your money into. Gold stocks refer to companies that mine and refine gold and are publicly traded. These gold stocks offer a good investment opportunity for those who do not want to physically buy the metals.
There are plenty of mining stocks to watch but gold seems to be the most popular among them all. This has been a trend all throughout history. Often when the U.S. dollar is performing negatively, people will move their money into a physical asset such as gold or silver. So when the pandemic struck last year, it is no surprise that it sparked the largest gold rally in history.
Gold stocks can be confusing considering a large amount of uncertainty in the market. It is important to stay up to date on the latest news if you are investing. This can be anything from sector news, world news, to company-specific news. Looking at the volume of a stock is also useful when investing. Now it will be interesting to see how gold stocks perform in the future. Right now, let’s look at three that have potential in the market.Top Gold Stocks To WatchAgnico Eagle Mines Limited (NYSE: AEM)
Agnico Eagle Mines Limited is an exploration, development, and production-based mineral property business. It runs properties in Canada, Mexico, and Finland. The company will produce and sell gold deposits, as well as silver, zinc, and copper deposits. Its main property is the LaRonde mine in Canada. As of December 31st, 2020, its LaRonde mine had a mineral reserve of about 3.8 million ounces of gold.
On September 28th, Agnico Eagle and Kirkland Lake Gold Ltd. announced a merger of equals to create the highest-quality senior gold producer. In the terms of the merger, Kirkland Lake will be absorbed by Agnico Eagle. This deal will make Agnico Eagle have the lowest unit costs, highest margins, most favorable risk profile, and industry-leading best practices in environmental, social, and governance according to the company. The company is now expected to have $2.3 billion of available liquidity, a mineral reserve base of 48 million ounces of gold, and more.
CEO of Agnico Eagle, Sean Boyd said, “This merger starts a new chapter in Agnico Eagle’s 64-year history and creates the leading low-risk global gold company with growing production, low costs, and strong ESG leadership.” Following this announcement, AEM stock has gone up in the market. It will be interesting to see how the companies perform as one in the future. For now, will AEM be on your list of mining stocks to watch?Royal Gold Inc. (NASDAQ: RGLD)
Royal Gold Inc. is another mining stock that has an interesting market history. This is a royalty-based gold company that acquires and manages various royalties, metal streams, and other related assets. The resources it searches for are gold, silver, copper, zinc, nickel, lead, and cobalt. Royal Gold has more than 187 properties on 5 continents. Included in this is interest in 41 producing mines and 16 developmental stage projects.
On September 28th, Royal Gold participated in the Renmark Financial Communications Virtual Non-Deal Roadshow Series. On Tuesday, October 12th, the company will be presenting at the John Tumazos Very Independent Research LLC 2021 Virtual Conference. The VP of Investor Relations and Business Development, Alistair Baker will be participating in the event, which is taking place between 1:30 p.m. and 2:30 p.m. Based on its recent developments, is RGLD a company that could make your gold stock watchlist in October?IAMGOLD Corporation (NYSE: IAG)
IAMGOLD Corporation is a large Canadian gold mining company with operations around the world. The company reportedly has four mines currently operating which together are producing around 800,000 ounces of gold per year. Recently, IAMGOLD has continued to explore new mines across the three continents it works in. The company has an interest in the Rosebel mine, Essakane mine, Westwood mine, and many more.
On September 27th, the company announced its commitment to achieving net negative greenhouse gas emissions by 2050. This is part of the company’s plan to undertake comprehensive action to combat climate change. Initial work will focus on defining specific options to address on its largest sources of emissions. Currently, IAMGOLD’s largest source of emissions is heavy and light vehicle fleets and power generation and supply. The company’s commitments will be updated in 2025 to include its targets on is Scope 3 emissions.
CEO and President Gordon Stothart said, “In our view, reversing the effects of climate change does not mean stabilizing emissions; it demands that we reduce the total volume of greenhouse gases going into the atmosphere and the world’s oceans year over year. We know that we are losing habitat at an unsustainable pace. We believe that the mining industry must do its part to be a driver of habitat creation.” Based on this new information, will IAG stock make your October watchlist?Top Gold Stocks To Buy?
If you’re looking for the best gold stocks to buy, sometimes things can be confusing. That is why looking at the latest developments in the market can often be extremely useful when buying gold stocks. There is no telling what direction things could go in right now because of the volatility in the market. So which gold stocks will make your watchlist as we enter the new month?