In 2020, investors have had a great focus on gold stocks. Gold companies are generally ones that mine and refine the precious metal. Some of these companies have an expanded focus on large hectare land acquisition. If there is less gold on the market then the price tends to go up, and vice versa. In addition to these types of companies, there are also retailers and bullion dealers as well. The economy has caused gold prices to be pretty much at an all-time high.
If many companies had to stop or slow gold operations, how is gold performing well? People see gold as a physical asset to hold instead of money, and the economy has been in trouble. Mining companies have also started production again, many operating on a very normal level. This has caused a big increase in the number of investors in gold stocks.
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There can be profit to be made with gold stocks if you do research. Gold stock investors are currently looking in the short term due to market volatility. It is unsure what will happen with the economy in upcoming months. Let’s take a look at four gold stocks that have been trending in the market, and peaking investors’ interest.Top Gold Stocks To Watch: Freeman Gold Corp.
First on this list of gold stocks to watch is Freeman Gold Corp. (OTC: FMANF Stock Report) (CSE:FMAN). This gold company focuses on mineral exploration in multiple locations. Freeman will acquire, explore, and develop several different mineral properties. The company operates silver and copper deposits as well. Currently, its Lemhi Mine claim has a roughly 5000-meter diamond drill program in progress.
Recently, Freeman Gold acquired a back in-right from company Yamana Gold Inc. for its Lemhi Project. This was done by issuing Yamana over 4 million common shares. Additionally Freeman Gold acquired the Moon #100 and #101 mining claims in recent news. These claims are already located within its Lemhi project, in the historical region. It is in the area of drill holes holding much gold mineralization, making it a desire for Freeman.
This has given the company a complete property package with no back-in rights. The CEO of Freeman Gold stated it has “significant intercepts within and in the immediate vicinity of the claims”. This could allow Freeman Gold to focus on its current and upcoming drill campaigns. Positive news like this shows great momentum for the company’s future. That is why it is on this list of gold stocks to watch.Top Gold Stocks To Watch: New Gold Inc.
Next on this list of gold stocks to watch is New Gold Inc. (NGD Stock Report). New Gold is a gold company that develops a plethora of mineral properties. The company actively looks for silver and copper deposits as well as gold. Currently it owns 100% interest in the Rainy River mine, Afton mine, Blackwater project, and Cerro San Pedro mine. These are located in Canada, and Mexico.
In recent news New Gold announced that it closed its sale of the Blackwater Project to fellow gold company Artemis Gold. The deal was executed for $190 million cash, $140 million being paid initially and $50 million by August 21st 2021. The CEO stated that this was a “key transaction” for New Gold that will allow it to continue exposure to Blackwater. News like this is what generally can drive a gold stock higher, other than the price of gold itself.Top Gold Stocks To Watch: Golden Minerals Company
Now let’s talk about Golden Minerals Company (AUMN Stock Report). Golden Minerals Company is a precious metal exploration company. It focuses on the development, mining, construction, and exploration for mineral properties. Golden Minerals actively searches for gold, silver, zinc, lead, and more. The company holds an interest in the El Quevar silver property, and many more properties as well. On August 6th, the company released its second-quarter results.
In summary, the company brought in revenue of $1.2 million and a net operating margin of $0.8 million compared to a $1.3 million net operating margin in 2019. The company also received $3.7 million in funding due to a signing of an Earn-In Agreement with Barrick Gold Corporation (GOLD Stock Report).
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The CEO, Warren Rehn said, “With the recent capital raise completed, we have a significant cash balance and are now in an excellent position to fund a start-up of production at the Rodeo deposit early next year, assuming that the results of our confirmatory drilling program are satisfactory and providing we receive the necessary government approvals.” These advancements have triggered a 28% move in AUMN stock in 2020.Top Gold Stocks To Watch: Freeport-McMoRan Inc.
Last but not least on this list of gold stocks is Freeport-McMoRan Inc. (FCX Stock Report). This is a mining company that operates at mineral properties in North America, South America, and Indonesia. Freeport-McMoRan explores for copper, gold, molybdenum, silver, and more. It additionally seeks oil and gas as well. The company has proven and probably mineral reserves with 29.6 million ounces of gold, and much more resources as well.
On September 21st, the company announced its commitment to the Copper Mark. The Copper Mark is an assurance framework demonstrating the industry’s responsible production practices and contribution to the United Nations SDGs. Richard C. Adkerson, President and CEO had this to say, I am proud to announce our commitment to the Copper Mark. Our focus on responsible production is critical to establish and maintain acceptance from our stakeholders. The Copper Mark demonstrates our responsible production practices to downstream markets, helping to meet our customers’ responsible sourcing objectives.”
Since the company’s fall during peak stock market crash, FCX stock has gone back up by nearly 190% a share. It will be interesting to see how the gold sector continues to progress throughout 2020.