Precious Metals

Gold Investing

Which gold stocks will be hot in 2019? Analysts at Raymond James recently shared a gold stocks list of companies on their radar right now.

Click here to read the latest gold stocks to watch article.

Gold is up significantly this year, with its main tailwind being its strength as a safe haven asset as the US Federal Reserve cuts interest rates and ongoing geopolitical issues shake up the market.

Prices for the yellow metal broke the US$1,500 per ounce level in August, reaching their highest point in six years. Many investors are now wondering if gold stocks will follow the uptrend in prices.

For those looking for gold stocks to buy, analysts at Raymond James recently released a list of the gold-mining companies they believe have high upside investment potential.

They also raised their average gold price forecast for 2019 to US$1,403 from US$1,353.

“We are revising our gold price forecasts higher to reflect a strong set-up for the metals as a result of heightened geopolitical tensions, continued likelihood of further rate cuts and weak economic data in key regions,” the analysts state in the report.

Read on to learn which five gold-mining companies the analysts chose for their gold stocks list. For investors looking to invest in gold and decide which gold stocks to buy, this may be a good place to start.

1. Agnico Eagle Mines (TSX:AEM,NYSE:AEM)

Current share price: C$73.17; 2019 year-to-date movement: +33.11 percent

Precious metals miner Agnico Eagle Mines has been in production since 1957, and has mining operations in Canada, Finland and Mexico. It also explores in all of those countries, as well as the US and Sweden.

On October 7, the company announced that it achieved commercial production at its Amaruq satellite deposit at the Meadowbank complex on September 30.

2. Centerra Gold (TSX:CG,OTC Pink:CAGDF)

Current share price: C$12.73; 2019 year-to-date movement: +112.52 percent

Centerra Gold operates two flagship assets, the Mount Milligan mine and the Kumtor mine, which are located in Canada and the Kyrgyz Republic, respectively.

On July 30, the company released its second quarter financial results, posting record net earnings of US$33.4 million. Cash generated from operations hit US$91 million.

In August, Centerra completed its strategic agreement with the government of the Kyrgyz Republic.

3. OceanaGold (TSX:OGC,OTC Pink:OCANF)

Current share price: C$3.56; year-to-date movement: -27.96 percent

OceanaGold is a mid-tier gold company with four main assets: the Didipio mine on Luzon Island in the Philippines, the Macraes operations on the South Island of New Zealand, the Waihi gold mine on the North Island of New Zealand and the Haile gold mine in South Carolina in the US.

Early in September, OceanaGold reported high-grade intercepts at Haile, where exploration has focused both on infill and extensional drilling. On September 24, the company announced it had extended its drilling at the Martha underground project at Waihi.

4. Endeavour Mining (TSX:EDV,OTCQX:EDVMF)

Current share price: C$24.52; year-to-date movement: +9.87 percent

Endeavour Mining, another of the world’s leading mining companies, has four mines in Burkina Faso and Côte d’Ivoire. These mines are expected to produce between 615,000 and 695,000 ounces of gold in 2019. The company is looking to uncover 10 million to 15 million ounces of gold via exploration by 2021.

On August 1, the company released its Q2 results, posting a production increase of 42 percent over Q1 at 171,000 ounces following the successful commissioning of the Ity CIL operation.

5. Integra Resources (TSXV:ITR,OTCQX:IRRZF)

Current share price: C$1.36; year-to-date movement: +64.71 percent

Integra Resources is an exploration and development company operating in the US. It owns the DeLamar and Florida Mountain assets in Idaho, previously operated by Kinross Gold (TSX:K,NYSE:KGC).

Unlike the other mining stocks listed by Raymond James, Integra is not yet producing. Its focus this year has been on DeLamar, and in June it released an updated resource estimate for the asset. DeLamar’s global inferred resource now stands at 501,000 gold equivalent ounces at an average grade of 0.55 grams per tonne (g/t) gold equivalent. The calculation uses a 0.2 g/t gold equivalent cut off for oxide/transitional resources and a 0.3 g/t gold equivalent cut off for unoxidized resources.

In September, the company released an “exceptional” preliminary economic assessment for DeLamar, showing an after-tax net present value of C$472 million, with average annual after-tax free cash flow of C$81 million once the project enters production.

For other possible gold companies to invest in, check out our lists of the TSX– and TSXV-listed gold stocks that are up the most year-to-date.

You may also want to consider investing in physical gold or gold exchange-traded funds (ETFs). Click here to find out about investing in physical gold and click here for an overview of gold ETFs.


Want more details? Check out these articles for more INNdepth coverage.

Want and overview of investing in gold stocks? Check An Overview of Gold Stocks and Price.

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


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