Gold

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Looking for the best gold stocks? These TSX-listed gold companies have seen the biggest year-to-date gains so far in 2022.

Click here to read the latest best gold stocks article.

The gold price saw significant gains in February and March following Russia's invasion of Ukraine on February 23; however, it has fallen off in Q2, now sitting around US$1,850 per ounce.

In terms of the highs it has experienced this year, the yellow metal spiked to US$1,975 on February 24, and saw further gains on March 9, hitting US$2,069. It pulled back to the C$1,950 range before sinking back down in May.

Gold was a major topic at the Vancouver Resource Investment Conference in May. A common thought was that although gold has fallen, it is still at historically high levels, and dips can be treated as buying opportunities.


Although gold has cooled, some companies have been on the move. The five stocks below have seen the largest share price gains in the gold sector year-to-date on the TSX. The list was generated on June 2, 2022, using TradingView’s stock screener, and all companies listed had market caps above C$50 million at that time.

1. Augusta Gold (TSX:G)

Year-to-date gain: 87.5 percent; market capitalization: C$155.92 million; current share price: C$2.25

At the top of the list is Augusta Gold, which is focused on its land package in the Bullfrog district in Nevada, US. Its Bullfrog gold project is in the Walker Lane trend and is close to significant infrastructure, including a paved highway that intersects the property. The project currently has measured and indicated resources of 64.12 million metric tons (MT) grading 0.531 grams per MT (g/t) gold for contained gold of 1.09 million ounces.

Augusta’s share price saw a large increase from early to mid-April, although it didn’t release news during that stretch. It lost some of its luster in the second half of that month, even though on April 21 the firm acquired the Reward heap-leach gold project, which is fully permitted and located nearby the Bullfrog project. Augusta ended April by spiking back up, and it has remained elevated since, hitting a year-to-date high of C$2.33 on May 26.

The company’s most recent news came on June 7, when it announced a resource estimate for its new project; it shows Reward has measured and indicated resources of 426,700 ounces of contained gold grading 0.75 g/t gold.

2. Yamana Gold (TSX:YRI)

Year-to-date gain: 38.72 percent; market capitalization: C$6.76 billion; current share price: C$7.38

Yamana Gold is a gold producer operating out of the Americas that places a strong emphasis on environmental, social and governance issues. The company has five producing mines: the Canadian Malartic gold mine in Abitibi, Quebec; the Cerro Moro gold-silver mine in Santa Cruz, Argentina; the El Peñón mine in Chile’s Atacama Desert; the Jacobina gold-mining complex in Bahia, Brazil; and the Minera Florida gold mine in Central Chile.

The company aims to continue exploration of its producing properties so it can replace depleting mineral resources with fresh discoveries, creating more sustainable operations.

Yamana’s most significant news came on May 31, when the company entered into a definitive agreement with Gold Fields (NYSE:GFI,JSE:GFI), which will be acquiring Yamana.

“The combination of Yamana and Gold Fields creates a world-class, globally diversified company with regional relevance across premier, rules-based mining jurisdictions that is underpinned by low cost, long life mines,” Yamana Executive Chairman Peter Marrone said. “The combined entity will be well positioned to deliver long-term value creation with its enhanced scale, management strength and improved capital markets profile.”

3. Mandalay Resources (TSX:MND)

Year-to-date gain: 38.53 percent; market capitalization: C$265.2 million; current share price: C$3.20

Mandalay Resources has producing assets in Australia, where its Costerfield gold-antimony mine is located, and in Sweden, where its Björkdal gold mine is located. The company also holds non-core properties in Chile and Canada.

Mandalay’s share price saw a steady climb in the weeks following the February 24 release of its record financial results for 2021, starting at C$2.61 and reaching C$3.25 by March 11. Although there was a quick drop in mid-March, it rapidly climbed back up and reached a year-to-date high of C$3.78 on April 13. The following day, the company released its Q1 production and sales results, including output of 29,361 gold equivalent ounces.

The company’s share price cooled off in May, which saw the release of Mandalay's Q1 financial results and the results of its annual general shareholders meeting.

4. K92 Mining (TSX:KNT)

Year-to-date gain: 33.38 percent; market capitalization: C$2.03 billion; current share price: C$9.59

K92 Mining is a gold producer operating its Kainantu gold mine in Papua New Guinea’s Easten Highlands province. Over the last couple of years, the company has been working on expanding its mine in order to significantly increase its output, and it has also been exploring the site to potentially expand its resources.

K92’s share price saw a big jump in April following the April 11 release of its Q1 production results. Kainantu produced 24,152 ounces of gold, 1,524,827 pounds of copper and 28,142 ounces of silver over the quarter, up 49 percent compared to Q1 2021 production. Shares jumped from C$8.96 on April 8 to a year-to-date high of C$10.38 on April 18. On May 16, K92 released its Q1 financial results, which include a record cash balance. The company’s share price had been falling previous to this, but following this release it climbed back up.

5. Aris Gold (TSX:ARIS)

Year-to-date gain: 31.79 percent; market capitalization: C$271.53 million; current share price: C$1.99

Aris Gold’s goal is to become a significant producer of the yellow metal by acquiring mines and projects nearing construction. It currently owns the Marmato gold mine in Marmato, Colombia; the Soto Norte gold project in Santander, Colombia; and the Juby gold project in Ontario, Canada. The company is working to modernize the infrastructure at the Marmato mine, which is currently in production.

Aris' share price has spent the second quarter moving between about C$1.50 and C$2, with a year-to-date high of C$2.07 on May 24. The company saw a significant spike from C$1.50 on March 18 to C$1.95 on March 21 — the next trading day — after Aris announced that it would become the operator of the aforementioned Soto Norte project. As part of the deal, which was completed on April 12, Aris has gained a 20 percent interest in the project, and it has the option to increase that to 50 percent. On May 11, the company shared its Q1 financial and operating results, including production of 7,419 ounces of gold.

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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

KRR:CA

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