When it comes to finding gold mining stocks, there are many factors to consider. For example, momentum investing is a factor-based strategy that involves investing in a stock that has increased in price more quickly than the market. This strategy assumes that the stock will continue to outperform the market. It is important to consider that other investors are likely to be buying the stock to capitalize on its outperformance, which will drive the price higher.
Eldorado Gold
If you’re a gold and metals investor, you might be interested in Eldorado Gold mining stocks. The company has seen its shares jump significantly over the last year, thanks to several important acquisitions and a successful share repurchase program. In 2010, it was one of the largest publicly-traded companies on the Toronto Stock Exchange.
The company is a Canadian-based gold mining company that engages in mining and exploration. Its operations include projects in Canada, Greece, and Turkey. Management claims the company has a highly skilled workforce, a portfolio of quality assets, and long-term partnerships with local communities. Its common shares trade on the New York Stock Exchange and the Toronto Stock Exchange.
If you’re thinking about buying Eldorado Gold mining stocks, you’ll want to do some research first. The company’s recent news and financial metrics can help you determine whether or not it’s a good investment. You can also evaluate the company’s risk and reward with the help of a stock screening tool.
Harmony Gold Mining
While the company’s gold production is falling, its costs are rising. However, the company expects that gold costs will return to normal over the next several months. Its underground mines in South Africa are responsible for about 75% of its production. It expects to achieve annual production levels of between 1.4 and 1.5 million ounces by 2023.
The stock has already declined more than 5% this week. While it recovered some ground on Friday, it still closed nearly 5% lower than it started the week. This is due to a combination of factors. One of those factors is the strong US dollar and tight monetary policy, both of which are damaging for gold prices.
Barrick Gold
If you’re looking to invest in the gold mining industry, you should consider buying Barrick Gold mining stocks. Although they’ve dropped 21% this year, they’re still up 6% year-to-date. However, gold prices have sagged since mid-March and are marginally lower than they were a year ago. The Federal Reserve has also boosted interest rates aggressively, which has dragged down gold prices.
Barrick has an excellent portfolio of gold mining operations and a solid balance sheet. The company has worked to reduce its debt in the last few years, which has increased its financial flexibility and strength to pay dividends. The company pays both a base dividend and a performance dividend based on cash balances at the end of each quarter.
Agnico Eagle
When you’re looking for gold mining stocks, Agnico Eagle Mines Limited is one of the best picks. The company has a low-AISC score, massive resource base, and a healthy growth outlook. The company also has rock-solid financials and has a low price to sales ratio. The company is also priced at its lowest cash flow multiple ever and has the highest book value.
The company’s shares have fallen 3.1% year-to-date, but they have outperformed the VanEck Gold Miners ETF, a benchmark mining sector index. Gold and silver stocks benefit from rising commodity prices. Despite fears over Russia, gold and silver miners continue to grow due to the high demand for these assets as hedges.
Franco-Nevada
The Franco-Nevada gold mining stock has been growing at a healthy clip. The gold-focused royalty company holds a diverse portfolio of royalties, streams, and working interests. Currently, the company holds 324 mining assets. Its stock price has increased by more than 50% since the beginning of 2018.
Franco-Nevada’s recent earnings reports have also been very positive. The company recently announced that its quarterly dividend would increase by 15.4% in May 2021, from $0.26 to $0.30 per share. This is higher than the 4% increase that was planned for May 2020. This increase will boost investor confidence in the company.
Franco-Nevada’s social score and governance score are also very high. Its social score is 5.42, which places it in the top ten percent of companies in its sector. This score suggests that the company is run in a responsible manner and that it is low risk.