Best Gold Stocks of 2019 on the TSX – Q1

While gold managed to rally from the lows seen throughout most of 2018, the yellow metal only saw slight gains, climbing just under 1 percent in the first quarter of 2019.

However, despite a slow rebound, many gold companies managed to make progress and increase earnings from their assets. Now that Q1 has come to a close, the Investing News Network has rounded up the best gold stocks on the TSX that have seen the biggest share price gains year-to-date.

The list below was generated on April 9, 2019 using TradingView’s stock screener. All companies listed had market caps above C$50 million at that time.

1. Wallbridge Mining Company (TSX:WM)

Current share price: C$0.43; year-to-date gain: 168.75 percent

Founded in 1996, Wallbridge Mining 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.

On February 21, the miner intersected 12.7 grams per tonne gold over 2.71 meters within newly discovered broad gold mineralization 300 meters southwest of the Fenelon deposit in Quebec.

Towards the end of the quarter, the company intersected six shear zones bearing gold as well as other minerals in the first hole of a 2019 drill program for its Area 51 discovery.

2. Tanzanian Royalty Exploration (TSX:TNX)

Current share price: C$1.01; year-to-date gain: 110.42 percent

Gold-focused Tanzanian Royalty has assets in the United Republic of Tanzania. Its advanced stage projects include the Buckreef, Kigosi and Itetemia gold projects.

At the beginning of the quarter, the miner began Phase 1 of a planned three phase drill program with the goal of increasing the robust economics of the Buckreef project.

On March 25, the company released the first drill results from Phase 1, announcing that it had intercepted 16 meters at 6.72 grams per tonne gold including 3 meters at 25.17 grams per tonne silver.

3. Eldorado Gold (TSX:ELD)

Current share price: C$6.19; year-to-date gain: 54.75 percent

Eldorado Gold’s portfolio includes gold and polymetallic assets at various stages of exploration, development and production. The company has existed for over two decades and currently operates on three continents.

Near the end of February, Eldorado released its 2018 year end and Q4 financial and operational results, revealing that revenue was up and that it had exceeded its original guidance for the year.

Eldorado’s original 2018 guidance was 290,000 to 330,000 ounces of gold, but the company achieved more than expected, with annual production reaching 349,147 ounces of gold. The miner also announced that total revenue for the year was C$459 million compared to C$391.4 million in 2017.

Finally, at the end of Q1 this year, Eldorado achieved commercial production at its wholly owned Lamaque mine in Quebec. Lamaque is forecast to produce 100,000 to 110,000 ounces of gold in 2019.

4. Alacer Gold (TSX:ASR)

Current share price: C$3.62; year-to-date gain: 43.65 percent

Alacer Gold has an 80 percent stake in the Çöpler gold mine in Turkey. Çöpler has a mine life of 20 years, and the company’s goal is ultimately to produce from multiple mines in the country.

On February 5, the miner released 2018 year end operating and financial results, reporting that it met its production guidance of approximately 171,000 ounces of gold. Production guidance is set at 320,000 to 380,000 ounces for 2019.

5. Alamos Gold (TSX:AGI)

Current share price: C$6.80; year-to-date gain: 38.49 percent

Formed via a 2003 merger, Alamos Gold operates four mines in Canada and Mexico, and has exploration and development projects in those countries as well as Turkey and the US.

In 2017, the miner completed a US$250 million equity financing and subsequently retired US$315 million in senior secured notes. That same year, Alamos acquired the company Richmont Mines along with its Island gold mine, located in Ontario, Canada.

On February 20, the company announced that during Q4 2018 it produced 125,600 ounces of gold, sold a record 131,161 ounces of gold at an average realized price of US$1,244 per ounce and incurred total cash costs of US$770 per ounce — its lowest in 2018.

At the beginning of March, Alamos obtained an operating permit from the Turkish Department of Energy and Natural Resources for the Kirazlı project; the permit gives the company the go-ahead to begin earthworks on the property’s open pit area. Kirazlı is expected to produce over 100,000 ounces of gold during its first full year of production.

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Securities Disclosure: I, Nicole Rashotte, currently hold no direct investment interest in any company mentioned in this article.