Gold is commonly regarded as the best safe haven asset out there. It’s definitely stood the test of time – come what may. So why the growing interest in gold stocks, again?
Negative interest rates by central banks around the world means that bonds don’t pay as well. And that’s where gold comes in as negative-yielding debt surges. At the time of writing one troy ounce of gold costs a staggering $1,888. As a result, investors are scurrying to gold to maximize returns on their investment.
While it is recommended to invest in gold miner ETFs, such as VanEck Vectors Gold Miners ETF and Direxion Daily Gold Miners Bull 2X Shares, you could invest in stocks – but that requires research on individual stocks.
If you prefer investing in stocks over ETFs, we’ve rounded up the 8 best gold miners to save you the hard work of researching.
This Canadian gold mining company is projected to produce around 5 million ounces of gold and 500 million pounds of copper in 2020. Plus, it also helps that their stocks surged by 12% after Warren Buffet’s Berkshire Hathaway bought a stack in the company.
Coeur Mining reported quarterly revenues of $173.2 million in 2020. They reaffirmed full-year production guidance for gold, silver, and lead. All in all, they’ve greatly improved their mining operations, reduced costs, and paid off a lot of debt.
This Canadian gold mining company produced 1.78 million ounces of gold in 2019. Analysts forecast their 2021 production to ramp up to 2 million ounces as they expand their operations across several mines.
This gold mining company owns mines in Namibia, Mali, and the Philippines. Despite mining interruptions due to the 2020 health crisis, B2Gold is right on schedule to produce around 1 million ounces of gold this year.
Eldorado Gold Corp
This gold producer has properties in Brazil, Greece, and Turkey. Their 2020 outlook is better than expected due to the life-of-mine plan for the Kisladag mine in Turkey. This should allow them to produce at least 450,000 ounces of gold per year in the next 5 years. Their stock isn’t reflecting this trend at only $12, but that may soon change.
Another Canadian gold mining company with operations in Suriname, Burkina Faso, and Canada. They recently announced their plans to proceed with their Cote Gold project in Ontario. It is estimated that by 2024, the Cote mine will increase Iamgold’s gold production and net asset value by 50%.
Kirkland Lake Gold
This Canadian gold producer has properties in Australia and Canada. Their second-quarter gold output is looking good, up by 54% year over year. Their biggest growth driver was the 2020 acquisition of the Detour Lake mine in Canada. Kirkland is right on schedule to produce around 1.4 million ounces of gold.
Newmont is known as the world’s largest gold producer, which is reflected in its stock price of $82. The gold mining company has an impressive pipeline of development projects, cash flow, and a stable balance sheet. They’re projected to produce over 6 million ounces of gold per year in production through to 2024.