There have been plenty of gold stocks on the rise in the last year. Gold stocks have been quite an interesting asset to watch in the market recently. It started back in March 2020, when the economy crashed. For a brief moment, gold stocks fell as well. But then, what happened next could be described as a gold rush.
The price of gold skyrocketed for months on end. This caused the metal to reach prices above $2,000. As a result of this, most if not all gold stocks received a huge boost in price. Recently gold prices are being affected by a couple of things. The first of which is the COVID vaccine that is being given out at the moment. This vaccine is making cases of the virus fall. This could result in a massive drop in gold prices. So why are gold prices hanging on at the moment?
The yellow metal is still above $1,700 per ounce at the moment. Many thought it would not fall below $1,800 per ounce, but obviously, that has changed. Jobless reports are part of the reason that gold stocks are staying up at the moment. Unemployment is still extremely high in the United States. As a result, the economy can not be even close to recovery.
Although the world is moving in the right direction, gold stocks are still performing well. Traders often turn to gold stocks during times where the economy is performing poorly. So it is fair to say that gold is a rather volatile asset at the moment. It is important to do proper research when investing. So let’s take a look at four gold stocks that have been performing well in the market.Gold Stocks To Buy Or Sell
- Hudbay Minerals Inc. (NYSE: HBM)
- Turquoise Hill Resources Ltd. (NYSE: TRQ)
- New Gold Inc. (NYSE: NGD)
- NovaGold Resources Inc. (NYSE: NG)
The first gold stock to watch is Hudbay Minerals Inc. Hudbay Minerals is a mining company that will discover, produce, and market base and precious metals. It produces copper concentrates, containing copper, gold, and silver. Also contained is molybdenum concentrates and zinc metals. Hudbay owns three polymetallic mines, four ore concentrators, zinc production factories, and various copper projects. Let’s check out its recent advancements.
On March 8th, Hudbay completed the offering of $600 million in 4.50% senior notes. These notes are due in 2026. The proceeds with redemption of $600 million of 7.625% senior notes due in 2025. Its other recent news was its gold sales volumes increasing 24% year over year in the fourth quarter of 2020. It also achieved its full-year 2020 guidance too. The President and Chief Executive Officer Peter Kukielski stated, “While 2021 remains a year of investment for Hudbay, it is also the year in which we expect to start to see the benefits of these high-return investments as we grow our production through Pampacancha and New Britannia, and create significant value for our stakeholders.”Turquoise Hill Resources Ltd.
Next up on this gold stock list is Turquoise Hill Resources Ltd. Turquoise Hill is a mining corporation that explores for copper, gold, and silver deposits. Its main property is the Oyu Tolgoi copper-gold mine in Mongolia. In the last 6 months, TRQ stock price has gone up about 70% in shares. This is another gold stock that has experienced exponential growth in the last year. So how is its recent performance as we continue through March 2021?
On March 8th the company released its financial result and review of operations for 2020. The chair of the board of directors for the company Peter Gillin stated, “2020 was an important year for Turquoise Hill. In the face of the COVID-19 pandemic that dominated 2020, the Oyu Tolgoi mine achieved another year of excellent operational results, with copper production in-line with original guidance, and gold production exceeding original forecasts.”New Gold Inc.
Now let’s talk about New Gold is a company that develops and operates various different mineral properties. The company additionally searches for silver and copper deposits. It actively owns 100% interests in the Rainy River gold and silver mine in Canada, and New Afton gold and copper mine in Canada. Additionally, the mineral explorer owns 100% interest in the Blackwater gold silver project in Canada, and the Cerro San Pedro gold silver mine in Mexico. Let’s check out its recent market performance.
On February 18th the company announced its fourth quarter and annual results for 2020. The company believes that it is poised for long term success after 2020. It expects to transition to positive free cash flow this year. In the last year its operational and cost performance improved and it advanced its capital projects. That is the latest that has comed from the company. Despite a tragic event at its New Afton Mine, the company is commiting more to health, safety, and wellbeing. It will be interesting to see what happens with NGD stock next.NovaGold Resources Inc.
The final gold stock to watch is NovaGold Resources Inc. NovaGold is a gold corporation that explores for and develops gold mineral properties in the United States. It owns a 50% interest in the Donlin Gold project that has 493 mining claims. This area covers 71,420 acres in Alaska. Let’s check out the latest news and advancements that have come from NovaGold.
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On March 11th, the company announced the date for its 2021 first-quarter financial results. The results will be released on April 1st. This could likely be when the next important update in NG stock is seen. But this is all speculation, only time will tell how these financial results will affect NG stock.