Gold stocks have been an interesting sector of the market to watch throughout the year. And now, when news came out of U.S. government financial aid package being fought for, the price of gold has gone up. Gold will generally go up if the economy is performing negatively. Government stimulus will make the economy worse which will help the price of mining stocks go up. That is how gold prices have managed to reach above $1,850 once again on the day of December 8th. Recent vaccine news is not enough to bring the price of gold down yet.
On December 8th the United Kingdom has vaccinated multiple people with Pfizer’s drug candidate. Many places are looking at vaccine distribution on some scale by the end of 2020. It seems like the stimulus news, even though being stalled by Congress, is enough to keep the price of precious metals pushing upwards. As of the 8th of December, the price of gold is at about $1,870 per ounce. With the price of this yellow metal on the rise, subsequently there are many great gold stocks to watch. So let’s take a look at four of these companies and how they have been advancing in the market recently. These companies will usually move based on gold prices, financial reports, and operational updates as well as acquisitions.
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The first gold stock to watch on this list is B2Gold Corp. (BTG Stock Report) B2Gold Corp. is a gold producing company that operates numerous mines in Mali, the Philippines, and Namibia. These mines include the Fekola mine, Masbate mine, and Otjikoto mines. Furthermore B2Gold holds 81% interest in the Kiaka Project in Burkina Faso. You may ask, what has this company been up to recently? Seeing as this yellow metal mining company has a vast portfolio of properties, there is a lot of advancements. Let’s understand the most recent update that has come from B2Gold Corp.
On November 3rd, this company announced its third quarter results for the year. Its major announcements included the 17% increase in consolidated gold production to 248,733 ounces. The company’s cash flow, revenue, and stock price all increased as a result. BTG stock price has gone up more than 43% in 2020. On November 25th B2Gold announced its fourth quarter dividend of $0.04 per share. This dividend is payable on December 18th, 2020. It plans on declaring future quarterly dividends at the same level. Now it will be interesting to see how B2Gold Corp. progresses as a company as 2020 comes to an end and we approach 2021.Top Gold Stocks To Watch: Wheaton Precious Metals Corp.
Next up on this list of gold stocks is Wheaton Precious Metals Corp. (WPM Stock Report). Wheaton Precious Metals Corp. is a mining corporation that sells gold, silver, and palladium ores. These products are sold internationally and in Canada where the company is based. Currently Wheaton Precious Metals Corp. has 20 operating mine agreements and 9 developmental stage project agreements under its belt. WPM stock price has gone up throughout 2020. Let’s look at its recent advancements and how it has been able to achieve this.
[Read More] Mining Stocks To Watch In December
Back in July, WPM stock price reached its all time high in the market. Now in Novemeber the company released positive financial results for the first 9 months of 2020. The company in these reports announced record revenue numbers, sales volume numbers, and operating cash flow numbers. The company’s operating cash flow alone rose 60% year over year to $228 million in total. Its revenue experienced growth of 37.4% to a total $307,268. In 2020, WPM stock price has gone up around 44% a share in total. As of December 8th, WPM stock is at about $42 a share on average.Top Gold Stocks To Watch: Sibanye Stillwater Limited
Now let’s look at Sibanye Stillwater Limited (SBSW Stock Report) and its performance. Sibanye Stillwater Limited is a mining corporation that owns land in the United States, South Africa, Canada, Argentina, and Zimbabwe. The company produces gold, platinum group metals such as palladium, platinum, and rhodium. Sibanye Stillwater Limited also makes iridium, copper, nickel, chrome, and ruthenium. SBSW stock price has gone up 40% in 2020 after a big recovery from lows at the start of the year. So let’s look at its recent advancements and why this gold stock is rising.
Back in October the company released a notification of acquisition for “beneficial interest in securities by BlackRock”. The company then released an operating update on October 29th. It announced that its platinum group metal production rose year over year with PGM recycling included as well. Sibanye Stillwater Limited’s adjusted EBITDA went up too. The company has been able to progress in recovering from pandemic related closures in 2020 and faced the challenges correctly.Top Gold Stocks To Watch: Kirkland Lake Gold Ltd.
The final company on this list of gold stocks is Kirkland Lake Gold Ltd. (KL Stock Report). Kirkland Lake Gold is a mining company that owns mining land, mining claims, and explores for mineral resources at said locations. It will primarily look for gold at these mines. Its principal assets are the Macassa Mine and Fosterville mines located in Canada and Australia. Kirkland Lake Gold has a current agreement with Newmont to run exploration on some of its properties as well.
On December 3rd, Kirkland Lake Gold announced the closing of sale of Novo shares and warrants. It has closed the sale of 16,450,000 common shares of Novo Resources Corp. and 9,225,000 warrants of Kirkland Lake Gold. This is to purchase shares to qualified purchasers for gross proceeds to Kirkland Lake Gold of $45,202,500. The company’s net earnings also went up 49% year over year in its last quarterly report. It is clear that this would have an effect on KL stock price. KL stock price is up about 1.53% in the last 5 days as of December 8th 2020.