Which gold stocks will be hot this summer? Analysts at Raymond James recently listed seven they have on their radar.
The gold price has fluctuated since the beginning of the year, rocked by political uncertainty and rising interest rates. The yellow metal touched a low of $1,157.34 per ounce in January, but is currently trading at $1,242.70.
That being said, a number of gold stocks have fared well despite gold’s performance. Raymond James analysts Chris Thompson, Tara Hassan and Justin Stevens recently listed seven gold stocks they are watching.
They commented, “we continue to recommend investors maintain exposure with core positions in quality names, taking advantage of short-term opportunities created by valuation dislocations (currently being observed), potential upcoming catalysts and possible impending market re-ratings.” Read on to learn which seven gold stocks the analysts are looking at and why these companies have potential.
Gold stocks to watch: Producers
1. B2Gold (TSX:BTO,NYSEMKT:BTG)
Current price: $3.78; year-to-date gain: 18.5 percent
B2Gold has four operating mines and one under construction, plus numerous exploration projects in various countries, including Nicaragua, the Philippines, Namibia, Mali and Burkina Faso. The company is projecting consolidated annual gold production of 545,000 to 595,000 ounces in 2017.
2. Endeavour Mining (TSX:EDV)
Current price: $22.53; year-to-date gain: 12.31 percent
Endeavour Mining is an intermediate gold producer focused on developing a portfolio of mines in West Africa. The company owns five mines and two projects in Mali, Burkina Faso, Ghana and the Ivory Coast. It expects to produce between 600,00 and 640,000 ounces of gold in 2017.
Gold stocks to watch: Developers
3. Pure Gold Mining (TSXV:PGM)
Current price: $0.51; year-to-date gain: -1.92 percent
Pure Gold Mining is a gold-focused exploration and development company whose main asset is its past-producing Madsen gold project in Ontario’s Red Lake greenstone belt. Madsen has produced over 2.5 million high-grade ounces, and is the second-largest historic gold producer in the region.
4. Victoria Gold (TSXV:VIT)
Current price: $0.60; year-to-date gain: 7.14 percent
Victoria Gold is an exploration and development company whose projects include the Eagle gold project and the Dublin Gulch property, both located in the Yukon; it also owns the Santa Fe project in Nevada. According to the company, Eagle is shovel ready, and will put out about 200,000 ounces of gold per year once it’s in production.
Gold stocks to watch: Juniors
5. Asanko Gold (TSX:AKG,NYSEMKT:AKG)
Current price: $1.94; year-to-date gain: -52.91 percent
Africa-focused Asanko Gold’s goal is to become a low-cost mid-tier gold miner. Its Asanko gold mine is being developed in phases, and Phase I was completed in January 2016 within budget and ahead of schedule; commercial production began at the mine in April of that year. The company also has prospective land packages on the Asankrangwa and Sefwi belts in Ghana.
6. Alio Gold (TSX:ALO,NYSEMKT:ALO)
Current price: $7.12; year-to-date gain: 71.57 percent
Alio Gold is engaged in gold exploration, development and production in Mexico. Its principal assets include the producing San Francisco mine in Sonora, and the development-stage Ana Paula project in Guerrero.
7. Roxgold (TSXV:ROG)
Current price: $1.33; year-to-date gain: 9.92 percent
Roxgold is a gold-mining company whose key asset, the high-grade Yaramoko gold mine, is located in the Hounde greenstone region of Burkina Faso. The company declared commercial production at Yaramoko in October 2016.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
This article is updated periodically. Please scroll to the top for the most recent information.
9 Gold Stocks to Watch
By Jocelyn Aspa, November 2, 2016
The gold price is up over 22 percent since the end of 2015, although it hasn’t come without volatility: post-Brexit, the gold price skyrocketed to $1,365.40 per ounce. Since then it’s fluctuated significantly, although it appears to be on the upward trend again.
That being said, a number of gold stocks have fared well independently of the gold price. Analysts Raymond James, Phil Russo and Chris Thompson gave their 9 top gold stocks, suggesting investors should watch for stocks that will perform well into 2017.
With that in mind, the Investing News Network (INN) has taken an in depth look to what the companies have been up that James, Russo and Thompson have on their watch list.
1. Agnico Eagle Mines (TSX:AEM; NYSE:AEM)
The first gold stocks pick is powerhouse Agnico Eagle Mines. The company has eight mines spread across Canada, Mexico and Finland, with exploration and development projects within those regions as well as the US and Sweden.
In 2015, Agnico set a production record of 1,671,340 ounces of gold and projects to produce 1,590,000 ounces by the end of 2016. That being said, while Agnico’s focus is on gold, the company’s resource portfolio is diverse: as of December 31, 2015, the company also had roughly 55 million ounces of silver, 148,000 tonnes of zinc, and 68,000 tonnes of copper.
Year-to-date, Agnico’s shares have gradually increased 93.32 percent to $70.10.
2. Yamana Gold (TSX:YRI; NYSE:AUY)
Yamana Gold has seven producing mine. One of them is in Canada–the Canadian Malartic–in partnership with Agnico, in which Yamana owns a 50 percent interest,. The other six are spread throughout South America. The company also has a variety of other producing mines and those that are still in development within the same regions.
Yamana’s shares have also seen a handsome incline year-to-date, rising 89.11 percent to $4.86.
Looking over to its production, the company has put out 328,604 ounces of gold so far in 2016, as per its third quarterly results, together with 1.68 million ounces of silver.
3. Alamos Gold (TSX:AGI; NYSE:AGI)
Alamos Gold is a mid-tier gold producer, with one operating mine in Canada and two in Mexico. It’s also currently exploring and developing projects in Turkey and the US, as well as Canada and Mexico.
In October, Alamos announced its investment in Corex Gold (TSXV:CGE), with the purchase of 25.3 million common shares which represents 19.07 percent of the outstanding common shares of Corex.
Alamos’ shares have increased steadily year-to-date by 129.45 percent to $10.54.
4. B2Gold (TSX:BTO; NYSE:BTG)
Next on the gold stocks list is B2 Gold, whose shares have soared 172.86 percent year-to-date to $3.83.
The company currently has four operating mines and has one under construction. B2Gold is also exploring projects in Nicaragua, the Philippines, Namibia, Mali and Burkina Faso. Its Fekola mine in southwest Mali is projected to commence production in the fourth quarter of 2017.
5. Detour Gold (TSX:DGC)
Like Alamos and B2Gold, Detour Gold is an intermediate gold producer. In particular, it owns and operates the Detour Lake mine in Ontario. According to the company’s website, the Detour Lake mine has over 16 million ounces of gold.
In early November, Detour provided its preliminary 2017 outlook, with an estimated gold production to be between 540,000-590,000 ounces of gold. That being said, the estimate is 40,000 ounces lower from the life of mine at the Detour Lake.
Still, the company’s shares have increased 47.33 percent year-to-date to $21.23.
6. Eldorado Gold (TSX:ELD; NYSE:EGO)
For over 20 years, Eldorado Gold has been operating gold mines in Europe, Asia and South America. Currently, two of the company’s mines are in Turkey and two are in China. As of December 31, 2015, the company had roughly 25 million ounces of proven and probable gold reserves.
Year-to-date, shares of Eldorado Gold have increased 8.05 percent to $4.43.
7. OceanaGold (TSX:OGC)
Seventh on the list is OceanaGold, whose flagship operation–the Didipio mine–is located in the Philippines. The mine commenced commercial production in 2013, and as a mine life to 2030.
Furthermore, the company operates the largest gold operation (Macraes Goldfield) in New Zealand, in addition to the Reefton on the west coast and Waihi on the North Island.
Year-to-date, shares of OceanaGold have increased by 54.55 percent to reach $4.08.
8. Asanko Gold (TSX:AKG; NYSE:AKG)
Asanko Gold commenced commercial production in April 2016 at its Asanko Gold mine in Ghana. The project has a gold resource estimate of 7.9 million ounces and reserves of 5.2 million ounces.
In the third quarter of 2016, the company produced 53,986 ounces of gold.
As the company has moved its project into commercial production, it’s unsurprising its shares have increased: year-to-date, Asanko’s shares have seen a boost of 153.69 percent to $5.15.
9. Roxgold (TSXV:ROG)
Last but not least on the gold stocks to watch list is Roxgold. The company declared commercial production on October 1, 2016 at its high-grade Yaramoko Gold mine. Roxgold’s gold production in the third quarter totaled 32,987 ounces.
Year-to-date, Roxgold’s shares have increased 110 percent to $1.47.
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.