Best Gold Stocks on the TSX

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After reaching an all-time high last summer, the gold price has put on an underwhelming performance for much of 2021, leaving many investors wondering when it will take off again.

Values for the precious metal have failed to regain January’s momentum, despite a brief effort in May. For the most part, the gold price has struggled to stay above the US$1,800 per ounce mark.

The majority of 2021’s first three quarters saw the yellow metal battle a strengthening US dollar and gains in 10 year Treasury yields. Investor risk appetite also impeded growth for the safe haven asset.

But gold’s lackuster showing this year hasn’t dampened the performance of some mining and exploration companies. Quite a few have moved forward this year and registered share price bumps.

Below the Investing News Network has rounded up the five best gold stocks on the TSX with the biggest share price gains year-to-date. The list was generated on November 3, 2021, using TradingView’s stock screener, and all companies listed had market caps above C$50 million at that time.

1. Aya Gold & Silver (TSX:AYA)

Year-to-date gain: 116.1 percent; current share price: C$8.32

Aya Gold & Silver has precious metals mining assets in the Kingdom of Morocco and Mauritania. The company operates the high-grade Zgounder silver mine in Morocco, where it also has a pipeline of prospective properties along the South-Atlas Fault, including past-producing mines and historical resources. Aya’s Tijirit gold project in Mauritania is advancing to feasibility.

Shares of Aya Gold & Silver hit a year-to-date high of C$11.85 on August 13. The peak came after the company reported record operating cash flow for the third consecutive quarter.

2. China Gold International Resources (TSX:CGG)

Year-to-date gain: 89.56 percent; current share price: C$3.45

China Gold International Resources has two operational assets in China. The firm is currently working to optimize its CSH gold mine, located in Inner Mongolia, and its Jiama copper-polymetallic mine in Tibet.

The value of the miner’s shares began to rise in early February and peaked at C$4.47 on May 11 after it released its first quarter results, which featured a revenue increase of 83 percent over the same period in 2020 to total US$272.1 million. This was the best quarterly performance in China Gold’s history. According to a press release, “Mine operating earnings increased by 360 percent to US$83.8 million from US$18.2 million for the same period in 2020.”

3. Gold Springs Resource (TSX:GRC)

Year-to-date gain: 66.67 percent; current share price: C$0.20

Gold Springs Resource is exploring and expanding its Gold Springs project, which is located in the US on the border beteen Nevada and Utah. The 8,000 hectare asset has four historic mining districts and 32 gold targets, and the company is working to move it quickly to the feasibility stage.

The highest share price for Gold Springs so far this year is C$0.25, which it hit on both October 22 and 27. On October 19, the company announced a new discovery at the Charlie Ross target of its Gold Springs project, and on October 25 it received C$4,364,315 for the sale of its World Copper securities; the non-dilutive funding will go toward work at Gold Springs.

4. Dynacor Gold Mines (TSX:DNG)

Year-to-date gain: 62.01 percent; current share price: C$2.90

Unlike traditional gold miners, Dynacor Gold Mines is a dividend-paying industrial gold ore processor. Focused on Peru, the firm processes ore purchased from the artisanal and small-scale mining industry. Dynacor also owns Tumipampa, a gold exploration property located in Peru.

Shares of Dynacor hit a year-to-date high of C$3 on October 20. This increase followed the announcement of its second consecutive monthly sales record of C$32.7 million (unaudited) for September, a more than 28 percent month-to-month increase, and a more than 135 percent rise versus 2020. Dynacor also reported quarterly sales of C$78 million, up by 157 percent over the previous year.

5. Victoria Gold (TSX:VGCX)

Year-to-date gain: 52.01 percent; current share price: C$18.53

Victoria Gold brought its Eagle gold mine, the newest operating gold mine in Canada’s Yukon, into commercial production in July 2020. It can produce 210,000 ounces of gold per year, and it has a 3.3 million ounce gold reserve and lifespan of more than 11 years. The company also holds several exploration- and development-stage projects in the Yukon, including its Dublin Gulch gold property.

Shares of Victoria Gold hit a year-to-date high of C$22.54 on June 14. In September, Victoria Gold ranked 13th on the Toronto Stock Exchange’s 2021 TSX30, a program that recognizes the 30 top-performing TSX stocks over a three year period based on dividend-adjusted share price appreciation. The price of Victoria Gold shares rose 251 percent over the years considered.

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