Which TSXV-listed junior gold stocks have performed the best so far this year? Our list includes the five biggest gainers.
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Riding the momentum of 2020, gold displayed strength to start the year. January saw the yellow metal peak at US$1,950 per ounce before downward pressure set in.
A recovering global economy mixed with high US 10 year Treasury yields and a strengthening US dollar added headwinds for gold, peeling 11.2 percent off the safe haven asset’s value by the end of March.
The price of gold fell below US$1,800 in late February, trending lower until early April.
The muted tone displayed by gold has prompted some to buy the dip, as lower values make a better entry point. But while discounts may be enticing for investors, they are not for explorers and miners.
The junior space prefers a higher gold price, which makes projects more economical and profitable. That said, it’s worth noting that gold is still holding at historically high levels, not far off 2020’s all-time high.
Now that the first quarter of 2021 has drawn to a close, the Investing News Network has rounded up the five best gold stocks on the TSXV with the biggest share price gains year-to-date.
The list below was generated on April 14, 2021, using TradingView’s stock screener, and all companies listed had market caps above C$10 million at that time.
1. St. James Gold (TSXV:LORD)
Year-to-date gain: 788 percent; current share price: C$6.04
St. James Gold is advancing several projects in Newfoundland and the Yukon. During Q1, the explorer made two further acquisitions, Grub Line and Quinn Lake, both located on the island of Newfoundland.
“As both of the new properties are situated next to established gold exploration companies, we maintain a strong belief in the viability of the region,” noted George Drazenovic, CEO of St. James Gold.
In March, the exploration company closed a private placement, raising C$849,980; the money will be spent on developing the Newfoundland projects.
Company shares registered a significant uptick over the three month period, starting at C$0.68 in January and peaking at C$6.25 on March 29.
2. CopAur Minerals (TSXV:CPAU)
Year-to-date gain: 523 percent; current share price: C$0.81
CopAur Minerals is operating in the Golden Triangle region of British Columbia, where it is exploring the Williams gold-copper project. Williams is home to the T-Bill gold prospect and GIC porphyry prospect
During Q1, CopAur made one announcement related to the closing of a private placement totaling about C$530,000. The news sent company shares higher, rising from C$0.23 on March 1 to C$0.55 on March 26.
3. AurCrest Gold (TSXV:AGO)
Year-to-date gain: 271.8 percent; current share price: C$0.26
Mineral explorer AurCrest Gold has three gold projects in Ontario: Richardson Lake, Ranger Lake and Bridget Lake. The firm’s current focus is Ranger Lake, located in the Red Lake district.
In mid-February, the company released the results of a survey conducted at Ranger Lake. The data reinforces AurCrest’s belief that the area is home to high-priority targets.
In response to that success, the explorer staked an additional 81 contiguous cell claims to expand Ranger Lake’s boundaries.
4. Rackla Metals (TSXV:RAK)
Year-to-date gain: 120.2 percent; current share price: C$0.38
Rackla Metals is in the process of developing its Rivier gold property in Canada’s Yukon. The explorer is also looking to acquire more assets for its portfolio.
In late January, the company completed a C$972,000 private placement representing 8.1 million shares. The news resulted in a stock bump, which raised its stock price to C$0.50 on February 22.
Year-to-date gain: 100.6 percent; current share price: C$0.15
Focused on Ontario and Newfoundland, Metals Creek is working to advance several projects. The junior explorer has a 50 percent interest in the Ogden gold project operated by Newmont (TSX:NGT,NYSE:NEM).
Quarterly highlights from Metals Creek include the closing of a C$3.9 million private placement. In addition, at the end of the three month period the firm released promising results from a drill program at the Dona Lake gold project. Metals Creek optioned the site, located in the Pickle Lake greenstone belt, from Newmont in 2019. Shares of Metals Creek marked a Q1 high of C$0.18 on March 24.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.