Looking for the best gold stocks? These TSX-listed gold companies have seen the biggest year-to-date gains so far in 2019.
The gold price was relatively flat during the second quarter, until it hit its highest level in over six years on June 25, trading just below US$1,440 per ounce.
Between price gains and mergers and acquisitions, some gold companies have made progress and expanded the resource potential of their assets. Now that Q2 is over, the Investing News Network has rounded up the five top gold stocks on the TSX with the biggest share price gains year-to-date.
The list below was generated on July 3, 2019, using TradingView’s stock screener, and all companies listed had market caps above C$50 million at that time.
1. Tanzanian Royalty Exploration (TSX:TNX)
Current share price: C$1.41; year-to-date gain: 193.75 percent
Gold-focused Tanzanian Royalty Exploration has assets in the United Republic of Tanzania. Its advanced-stage projects include the Buckreef, Kigosi and Itetemia gold projects.
At the end of May, the miner completed Phase 1 of a planned three phase drill program with the goal of increasing the robust economics of the Buckreef project.
The company released the final drill results from Phase 1, announcing that it intercepted 89.6 meters or approximately 294 feet of continuous gold mineralization.
2. Wallbridge Mining Company (TSX:WM)
Current share price: C$0.40; year-to-date gain: 150 percent
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 British Columbia and Jamaica.
On May 15, the miner announced that it had closed a private placement worth C$7 million with Eric Sprott. In return, Sprott received 29,166,667 common shares priced at C$0.24 each.
Towards the end of the quarter, the company intersected 3.93 grams per tonne (g/t) gold over 20.72 meters, including 55.95 g/t gold over 1.24 meters at its Fenelon gold property.
3. Eldorado Gold (TSX:ELD)
Current share price: C$8.12; year-to-date gain: 103 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.
On June 5, Eldorado reported the completion of a US$300 million senior secured second lien notes offering and a US$450 million senior secured credit facility.
4. Alacer Gold (TSX:ASR)
Current share price: C$4.53; year-to-date gain: 79.76 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.
In mid-June, the miner reached commercial production at its Çöpler sulfide plant, where over 22,000 ounces of gold were recovered.
“Achieving commercial production is a significant milestone. We continue to tune and optimize the plant and expect quarter-on-quarter improvements over the remainder of 2019,” said Rod Antal, Alacer Gold’s president and CEO.
5. Auryn Resources (TSX:AUG)
Current price: C$2.21; year-to-date gain: 76.80 percent
Auryn Resources is a junior exploration company focused on finding and advancing precious and base metals deposits. The company’s two flagship assets are the Committee Bay high-grade gold project in Nunavut and the Sombrero copper-gold project in Southern Peru.
At the beginning of June, the company announced the interception of 11g/t gold and 448 g/t silver at two additional targets that were identified at the Homestake Ridge gold project within the Golden Triangle in British Columbia.
On June 18, Auryn reported that core drilling at its Committee Bay gold asset is scheduled for the first two weeks of July.
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Nicole Rashotte, currently hold no direct investment interest in any company mentioned in this article.