Looking for the best gold stocks? These TSX-listed gold companies have seen the biggest year-to-date gains so far in 2022.
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In terms of this year's highs, the yellow metal spiked to US$1,975 on February 24, and saw further gains on March 9, hitting US$2,069. It pulled back to the C$1,820 range in May before sinking further in July.
Gold was a major topic at the Vancouver Resource Investment Conference in May, as well as at the Prospectors and Developers Association of Canada convention in June. A common thought is that although gold has fallen, it is still at historically high levels, and dips can be treated as buying opportunities.
Although gold has cooled, some companies have been on the move. The five stocks below have seen the largest share price gains in the gold sector year-to-date on the TSX. The list was generated on July 14, 2022, using TradingView’s stock screener, and all companies listed had market caps above C$50 million at that time.
Year-to-date gain: 13.33 percent; market capitalization: C$246.72 million; current share price: C$1.70
At the top of the list is Aris Gold, which has set its sights on becoming a significant gold producer by acquiring mines and projects nearing construction. It currently owns the Marmato gold mine in Marmato, Colombia; the Soto Norte gold project in Santander, Colombia; and the Juby gold project in Ontario, Canada. The company is working to modernize the infrastructure at the Marmato mine, which is currently in production.
Aris' share price has spent much of 2022 moving between about C$1.50 and C$2, with a year-to-date high of C$2.25 on June 9. The company saw a significant spike from C$1.50 on March 18 to C$1.95 on March 21 — the next trading day — after Aris announced that it would become the operator of Soto Norte. As part of the deal, which was completed on April 12, Aris has gained a 20 percent interest in the project, and has the option to increase that to 50 percent.
On May 11, the company shared its Q1 financial and operating results, including production of 7,419 ounces of gold.
Year-to-date gain: 13.18 percent; market capitalization: C$1.79 billion; current share price: C$2.49
OceanaGold has a geographically diverse property portfolio with assets in the Philippines, New Zealand and the US. The company operates two open-cut gold mines and two underground mines in New Zealand; it also operates an open-cut gold-copper mine and underground operations at Didipio, its flagship mine in the Philippines.
OceanaGold reached its highest peak of the year on April 18, trading at C$3.41. The run-up in its share price followed reports that the company had significantly increased its Wharekirauponga mineral resources estimate in New Zealand. Later in April, OceanaGold reported a 26 percent quarter-over-quarter increase in gold output, mainly attributable to rising production out of its Haile operation in the US and a strong first quarter of production at Dipidio.
Year-to-date gain: 11.52 percent; market capitalization: C$6.03 billion; current share price: C$6.00
Yamana Gold is a gold producer operating out of the Americas that places a strong emphasis on environmental, social and governance issues. The company has five producing mines: the Canadian Malartic gold mine in Abitibi, Quebec; the Cerro Moro gold-silver mine in Santa Cruz, Argentina; the El Peñón mine in Chile’s Atacama Desert; the Jacobina gold-mining complex in Bahia, Brazil; and the Minera Florida gold mine in Central Chile.
The company aims to continue exploration of its producing properties so it can replace depleting mineral resources with fresh discoveries, creating more sustainable operations.
“The combination of Yamana and Gold Fields creates a world-class, globally diversified company with regional relevance across premier, rules-based mining jurisdictions that is underpinned by low cost, long life mines,” Yamana Executive Chairman Peter Marrone said. “The combined entity will be well positioned to deliver long-term value creation with its enhanced scale, management strength and improved capital markets profile.”
Most recently, the company released its Q2 operating results on July 7, including gold production of 232,542 ounces.
Year-to-date gain: 10.57 percent; market capitalization: C$99.67 million; current share price: C$1.36
Augusta Gold is focused on its land package in the Bullfrog district in Nevada, US. Its Bullfrog gold project is in the Walker Lane trend and is close to significant infrastructure, including a paved highway that intersects the property. The project currently has measured and indicated resources of 64.12 million metric tons (MT) grading 0.531 grams per MT (g/t) gold for contained gold of 1.09 million ounces.
Augusta’s share price saw a large increase from early to mid-April, although it didn’t release news during that stretch. It lost some of its luster in the second half of that month, even though on April 21 the firm acquired the Reward heap-leach gold project, which is fully permitted and located nearby the Bullfrog project. Augusta ended April by spiking back up, hitting a year-to-date high of C$2.40 on May 27.
In early June, the company announced a resource estimate for its new project; it shows Reward has measured and indicated resources of 426,700 ounces of contained gold grading 0.75 g/t gold.
Year-to-date gain: 9.24 percent; market capitalization: C$425.93 million; current share price: C$1.30
Last on this list of top gold stocks on the TSX is Orezone Gold, which is advancing its shovel-ready Bomboré gold project in Burkina Faso. The project has a mineral resource base in excess of 5 million gold ounces.
The 2019 feasibility study for Bomboré highlights forecasted annual gold production of 118,000 ounces over a mine life of over 13 years at an all-in sustaining cost of US$730 per ounce with an after-tax payback period of 2.5 years at an assumed gold price of US$1,300. Orezone is fully funded to bring the mine into production, and expects to reach that milestone in the third quarter of this year.
Orezone's share price spent Q2 moving between about C$1.40 and C$1.80, with a year-to-date high of C$1.81 on April 13. The company saw a significant spike after announcing that a grade-control program at the A1 starter pit returned consistent high-grade intercepts, including 20 meters of 4.49 g/t gold and 11 meters of 7.48 g/t gold.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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