The market for gold stocks in recent times can often be a volatile one. There is a lot of things happening in the sector that were not predicted just a year ago. The pandemic arrived last year and it changed the market of gold for the long run. In 2020, gold stocks experienced a rally that had never been seen before in the market. At one point, gold prices pushed above $2,000 per ounce on average.
This opened a large window for investors to make profit with gold stocks. But where do things stand in terms of gold in 2021? Well, gold prices have managed to stay around $1,700 to $1,900 per ounce on average. So you may be wondering what things are impacting the price of gold at the moment. Well, first of all would be the reason that gold prices recently fell under $1,800 per share.
The pandemic is finally starting to slow down as vaccines are distributed worldwide. The United States is seeing cases dramatically decline which is positive for the economy. As you know, slow economic growth could equate to positive gold prices. So as vaccines are causing the price of gold to go down, it is negatively impacting gold stocks. But there is no need to worry. There are still plenty of gold stocks to watch in the market at the moment. The fact the gold prices are still at the point they are at shows that the metal has a lot of momentum. There are plenty of gold stocks that are going up in the market. With that being said, let’s have a look at four gold stocks that have been trending in the market recently.Top Gold Stocks To Buy Or Sell
- Sibanye Stillwater Limited (NYSE: SBSW)
- Kinross Gold Corporation (NYSE: KGC)
- B2Gold Corp. (NYSE: BTG)
- Newmont Corporation (NYSE: NEM)
The first gold stock to watch is Sibanye Stillwater Limited. Sibanye Stillwater Limited is a mining company that operates land in the United States, Canada, South Africa, Zimbabwe, and Argentina. It produces gold, platinum group metals like palladium, platinum, and rhodium. It also produces iridium, nickel, copper, chrome, and ruthenium. Let’s have a look at how Sibanye Stillwater is performing in March 2021.
On February 5th, the company released its latest financial report. This is big news because Sibanye Stillwater is the largest primary producer of platinum and rhodium. High metal prices and positive performance caused SBSW stock to perform well. The company saw its earning surge upwards in price during the year ended 2020. SBSW stock price has gone up about $10 a share on average as of March 1st, 2021. In the last week, this gold stock has increased by more than 2.60% a share on the day of the 1st.Kinross Gold Corporation
Next up on this list is Kinross Gold Corporation. Kinross Gold is a mining company which explores for land, acquires land, and develops gold assets on its properties. It operates in the United States, Canada, Russia, and more. The company extracts and processes gold ores, then produces and sells the precious minerals. Let’s have a look at this gold corporations recent performance in the market and updates.
On February 10th, Kinross Gold reported its 2020 fourth quarter and full year results. It met guidance for the ninth straight year in a row. The company also delivered record free cash flow of over $1 billion. The President and CEO of the company, J. Paul Rollinson said, “During the year, we continued to strengthen our investment grade balance sheet, more than doubled our adjusted net earnings to approximately $970 million, and increased our margins by 53% to $1,051 per ounce, which outpaced the increase in the average realized gold price.”B2Gold Corp.
Now let’s talk about B2Gold Corp. B2Gold Corp is a gold company operating numerous mines in Mali, the Philippines, and Namibia. It also produces various precious metals, the main one being gold. Its mines are the Fekola mine, Masbate mine, and Otjikoto mines. B2Gold also has an 81% interest in the Kiaka Project in Burkina Faso. Now let’s take a look at B2Gold’s recent performance in the market.
On February 23rd, B2Gold released its fourth quarter and full year 2020 results. It announced here annual record for 2020 gold production, gold revenues, and operating cash flows. It also declared a dividend of $0.04 per share for 2021 first quarter. The company said in its report, “Despite the challenges of the COVID-19 pandemic, B2Gold had another remarkable year of strong growth in 2020, with the achievement of B2Gold’s twelfth consecutive year of record annual gold production.”Newmont Corporation
The final gold stock to watch is Newmont Corporation. Newmont Corporation operates as a mining company that will produce and explore resources like gold, silver, copper, zinc, and lead. The Colorado based company holds land in the United States, Canada, Mexico, Peru, among other countries. Newmont is the world’s largest gold mining corporation at the moment. It has gold mines in multiple states and countries around the world. So how has Newmont been able to perform in the market recently?
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Just like many other companies at the moment, Newmont recently released its fourth quarter and full year quarterly results. Earnings season has brought good for Newmont Corporation. Newmont reported record cash flow, and met its full year guidance. Tom Palmer, CEO and President of Newmont stated, “These results enable Newmont to lead the industry in shareholder returns, invest in organic growth and maintain financial flexibility.” NEM stock has been able to hold lots of positive performance despite the pandemic taking over. That is what makes NEM stock one of the mining stocks to watch right now.