Looking for the best gold stocks? These TSX-listed gold companies have seen the biggest year-to-date gains so far in 2018.
While gold has had its share of ups and downs in 2018, some companies have achieved strong results despite the precious metal’s fluctuating price point.
With the year nearly over and done, the Investing News Network has rounded up the best gold stocks on the TSX by share price performance so far this year. All have experienced positive momentum at their gold assets in 2018, with the biggest gainer being up more than 200 percent year-to-date.
All year-to-date and share price information was obtained on December 3, 2018 from TradingView. All companies listed had market caps above $50 million at that time.
1. RNC Minerals (TSX:RNX)
Year-to-date gain: 214.29 percent; current share price: $0.55
Founded in 2006, RNC Minerals’ story began when it acquired the Dumont property, a nickel–cobalt deposit in Quebec. In the years that followed, the company completed 90,000 meters of exploration drilling at the site; it is currently working on an updated feasibility study for the project.
This year, RNC Minerals has also put a lot of blood, sweat and tears into its Beta Hunt gold-nickel mine. While the company put the mine up for sale in March, the asset in Kambalda, Western Australia is now off the market following a major discovery at the project in September. In the months since then RNC Minerals has taken steps to unlock the mine’s high-grade potential.
Click here to listen to President and CEO Mark Selby discuss the “once-in-a-lifetime” find.
2. Wesdome Gold Mines (TSX:WDO)
Year-to-date gain: 68.72 percent; current share price: $3.56
Focused on Canada, Wesdome Gold Mines has been producing gold since 1987 and has since put five gold mines into production. With properties throughout the provinces of Ontario and Quebec, Wesdome’s three major operations at this time are the Eagle River Complex — which consists of two gold mines — the Kiena Complex, a fully permitted former mine, and the Moss Lake gold deposit.
The company’s share price began making waves in June, when it announced updates to ongoing development at Eagle River, along with drill results from Kiena. Wesdome’s share price continued to trend upward for the rest of the year as strong production and drill results kept pouring in.
3. Wallbridge Mining Company (TSX:WM)
Year-to-date gain: 65 percent; current share price: $0.17
Founded in 1996, Wallbridge Mining Company has several assets in Sudbury, Ontario, along with two projects in Quebec. Additionally, it has an 11.5-percent stake in Carube Copper (TSXV:CUC), which gives the company access to copper and gold exploration activity in BC and Jamaica.
Much of Wallbridge’s activity during the first half of the year revolved around its Fenelon gold project in Quebec. In mid-September, its share price gained significant traction as the company announced a $3.9-million investment by Eric Sprott and revealed positive drilling results from Fenelon.
The company’s biggest spike of the year came on September 25, when Hinterland Metals (TSXV:HMI) announced it had acquired a property referred to as the Fenelon gold property, leading investors to believe Wallbridge had sold its major asset. Wallbridge later cleared the confusion by explaining Hinterland’s purchase was a separate property.
4. Kirkland Lake Gold (TSX:KL)
Year-to-date gain: 49.04 percent; current share price: $28.72
With operations in Canada and Australia, Kirkland Lake Gold currently has five projects under its belt. The company considers itself “anchored” by its Macassa mine in Northeastern Ontario and its Fosterville mine in Victoria, Australia, referring to both operations as high grade and low cost. According to Kirkland, the Fosterville mine is Victoria’s largest gold producer.
While Kirkland’s share price saw some low times at the beginning of the year, the summer months heated up for the company with steady inclines. Much of the company’s sunshine strength came from strong Q2 results — in July, solid operational results pushed Kirkland forward while August brought movement from robust Q2 earnings.
5. Corvus Gold (TSX:KOR)
Year-to-date gain: 47.27 percent; current share price: $2.43
Incorporated in 2010, Corvus has since striven to be a leading exploration and development company with the end goal of becoming a non-operating gold producer with significant carried interest and royalty exposure. The company’s two core assets, Mother Lode and North Bullfrog, are both situated in Nevada.
Much of 2018 has been devoted to drilling at Mother Lode, with steady, positive results boosting share price performance throughout the year. The company announced a maiden resource for the deposit in mid-September, followed by further strong drill results in early October, helping push its share price to its highest point in 2018 at C$3.28.
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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Carube Copper and Wallbridge Mining Company are clients of the Investing News Network. This article is not paid-for content.