Best Gold Stocks on the TSX

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After reaching an all-time high last summer, gold put on an underwhelming performance in the first half of 2021. It had both ups and downs in the summer, but overall moved lower.

Values for the precious metal have failed to regain January’s momentum, and the gold price has struggled to stay above US$1,800 per ounce mark for much this year.

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.

But gold’s lackuster showing this year hasn’t been enough to dampen the performance of some mining and exploration companies. With about nine months of the year now gone, some firms have made significant announcements 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 September 28, 2021, using TradingView’s stock screener, and all companies listed had market caps above C$50 million at that time.

1. China Gold International Resources (TSX:CGG)

Year-to-date gain: 104.95 percent; current share price: C$3.73

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.

In May, the company released its Q1 results, which featured a revenue increase of 83 percent over the same period in 2020 to total US$272.1 million — 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.”

2. Dynacor Gold Mines (TSX:DNG)

Year-to-date gain: 51.4 percent; current share price: C$2.71

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 Gold hit a year-to-date high of C$2.98 on September 8.

This increase followed the company’s announcement of record monthly sales of US$20.1 million (unaudited) for August, a more than 25 percent month-to-month increase, and a more than 136 percent rise compared to 2020. The milestone prompted Dynacor to increase to its 2021 sales guidance from US$150 million to between US$185 million and US$190 million.

3. Globex Mining Enterprises (TSX:GMX)

Year-to-date gain: 37.68 percent; current share price: C$0.95

Globex Mining Enterprises is a project generator with a large, diversified North American portfolio of nearly 200 mid-stage exploration, development and royalty properties, of which 97 are precious metals projects. The company’s gold projects include the Rocmec 1 gold mine and the Fayolle gold deposit, both in Quebec, as well as the Bell Mountain gold-silver project in Nevada.

Shares of Globex reached their year-to-date peak on May 31, hitting a high of C$1.49.

In mid-June, the company sold the Francoeur/Arntfield/Lac Fortune gold property in Quebec, as well as 30 claims in the province’s Beauchastel township and three claims in its Malartic township, to Yamana Gold (TSX:YRI,NYSE:AUY,LSE:AUY) for $15 million (retaining a 2 percent gross metal royalty). The following month, Globex sold the Quebec-based Tarmac gold property to Wesdome Gold Mines (TSX:WDO,OTC Pink:WDOFF) for $1 million and a 1 percent gross metal royalty. Also in July, the company acquired Rockport Mining, along with the Devil’s Pike gold property in New Brunswick.

In addition, this summer Globex purchased IAMGOLD’s (TSX:IMG,NYSE:IAG) 100 percent interest in the Rouyn Merger property in Quebec; it covers approximately 6.5 kilometers of the Cadillac Break.

4. Corvus Gold (TSX:KOR)

Year-to-date gain: 33.77 percent; current share price: C$4.04

Corvus Gold is an exploration and development company whose efforts are honed on its gold-silver projects at North Bullfrog, Lynnda Strip and Mother Lode in Nevada’s Beatty district.

The North America-focused company has been actively reporting drill results over the course of the year, but its share price reached its highest point so far in 2021 in mid-July, just after it received a non-binding acquisition offer from AngloGold Ashanti (NYSE:AU,ASX:AGG). In mid-September, the two companies entered into a definitive arrangement agreement for the purchase, with AngloGold signing on to acquire the remaining 80.5 percent of Corvus common shares it does not already own for C$4.10 each. The deal is expected to close in the first quarter of 2022.

5. Victoria Gold (TSX:VGCX)

Year-to-date gain: 20.34 percent; current share price: C$14.67

Victoria Gold brought its Eagle gold mine, the newest operating gold mine in Canada’s Yukon, into commercial production in July 2020. The mine 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 100 percent owned Dublin Gulch gold property. Shares of Victoria Gold hit a year-to-date high of C$22.54 on June 14.

In July, the company announced its Q2 production results for Eagle, highlighting 32,140 ounces of gold produced during the period. Year-to-date gold production came to 58,899 ounces of gold, an increase of 51 percent over the same period in 2020.

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