The gold sector has been a popular area of focus for investors seeking a safe haven for their investments. As a precious metal, gold has long been considered a reliable store of value, and its price is often seen as a barometer of global economic and political uncertainty. In recent years, the price of gold has been volatile, driven by a range of factors, including interest rates, inflation, currency movements, and geopolitical tensions.
Investing in gold mining stocks can be an effective way for investors to gain exposure to the gold sector. However, it is important to carefully evaluate individual stocks to ensure that they are a good fit for your investment goals and risk tolerance. Gold mining companies can be highly leveraged to the price of gold, and their profitability can be impacted by fluctuations in the cost of production, as well as geopolitical and environmental risks.
Despite these risks, gold mining stocks can be an attractive investment option for investors seeking to diversify their portfolios and capitalize on the potential for long-term growth in the gold sector. That being said, let’s dive into three gold mining stocks to watch in the stock market this week.
Gold Mining Stocks To Buy [Or Avoid] Now
- Barrick Gold Corporation (NYSE: GOLD)
- Newmont Corporation (NYSE: NEM)
- Royal Gold Inc. (NASDAQ: RGLD)
Barrick Gold (GOLD Stock)
Starting off, Barrick Gold Corporation (GOLD) is one of the world’s largest gold mining companies, with operations in North America, South America, Africa, and Australia. The company segments include nine gold mines specifically Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu.
Just last week, Barrick Gold announced that it will be releasing its financial results for the first quarter of 2023 on Wednesday, May 3, 2023. The company’s President and CEO, Mark Bristow, will host a live presentation of the results at 11:00 am EDT that day. In addition to the financial results, Barrick Gold will also be releasing preliminary production, sales, and cost information for the first quarter on April 13, 2023.
Over the last month of trading action, shares of GOLD stock have jumped by 26.72%. While, as of this past Thursday’s closing bell, GOLD stock is trading at $19.73 a share.
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Newmont Corp. (NEM Stock)
Second, Newmont Corporation (NEM) is another one of the world’s largest gold mining companies, with operations in North America, South America, Australia, and Africa.
Meanwhile, late last month, Newmont Corporation announced it has completed the sale of its common shares of Triple Flag Precious Metal Corp. on the open market for $179 million in net proceeds, after tax. The sale is part of Newmont’s strategy to maximize value for shareholders and generate cash for the business at fair value. Since the acquisition of Goldcorp in 2019, Newmont has received more than $2 billion in cash proceeds from the sale of non-core assets, strengthening the company’s investment-grade balance sheet.
In the last month of trading, Newmont Corporation stock has rebounded by 24.70%. While, this past Thursday, shares of NEM stock closed the day trading at $52.05 a share.
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Royal Gold (RGLD Stock)
Finally, Royal Gold Inc. (RGLD) – Royal Gold is a precious metals royalty and streaming company that invests in mining projects around the world. Rather than owning and operating mines, the company provides upfront capital to mining companies in exchange for a portion of the future production of gold and other metals.
Early last month, Royal Gold announced its second-quarter 2023 dividend. In detail, the company’s Board of Directors declared a second-quarter dividend of $0.375 per share on common stock. The dividend is payable to shareholders on Friday, April 21, 2023. As it stands, RGLD offers its stockholders an annual dividend yield of 1.09%.
Similar to the other names mentioned in this article, shares of RGLD stock have surged in the last month of trading by 22.15%. Additionally, this past Thursday, RGLD stock closed the day trading day up 1.11% at $137.92 a share.
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