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3 Gold Mining Stocks To Watch In January 2023

Could now be a good time to add these gold mining stocks to your January 2023 watchlist?

For the uninformed, gold mining stocks are a popular investment choice for those looking to gain exposure to the precious metals market. These stocks represent ownership in a company that is engaged in the exploration, mining, and production of gold. As such, the performance of gold mining stocks is closely tied to the price of gold, which can fluctuate significantly based on a variety of factors, including interest rates, currency movements, and geopolitical events.

Investing in gold mining stocks can be a way to gain leverage on the price of gold without physically owning the metal. It also offers the potential for increased returns, as some gold mining companies may also be involved in other precious metal mining operations or have additional revenue streams. For investors looking to diversify their portfolios and protect against inflation, gold mining stocks can be a valuable addition.

When investing in gold mining stocks, it is important to be aware of some of the risks associated with these investments. These include the inherent risks of mining operations, such as accidents, natural disasters, and changing regulations. Considering this, here are three gold mining stocks to watch in the stock market today.

Gold Mining Stocks To Buy [Or Avoid] Right Now

Wheaton Precious Metals (WPM Stock)

Leading off, Wheaton Precious Metals Corp. (WPM) is a Canadian precious metal streaming company. This means that the company provides funding to mining companies in exchange for the right to purchase a portion of their metal production at a discounted price. Wheaton Precious Metals Corp produces gold, silver, and palladium in this way, and it is one of the largest precious metal streaming companies in the world.

In November, the company reported its 3rd quarter 2022 financial and operating results. Diving in, In the 3rd quarter of 2022, Wheaton Precious Metals earned $0.21 per share on $218.8 million in revenue. These numbers were slightly lower than what analysts had predicted, which was earnings per share of $0.23 on revenue of $241.5 million.

In the last six months of trading action, shares of WPM stock have rebounded by 23.99%. As of Tuesday’s mid-morning trading session, WPM stock is trading higher by 0.51% at $43.11 per share.

Source: TD Ameritrade TOS

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Agnico Eagles Mines (AEM Stock)

Second, Agnico Eagle Mines (AEM) is a Canadian gold mining company. To begin, It has several operating mines in Canada, Finland, and Mexico, and exploration and development projects in Canada, Finland, and the USA. The company produces gold from underground and open-pit mines using mainly conventional mining methods.

Back in October, the company reported its 3rd quarter 2022 financial and operating results. In detail, In Q3 2022, the company announced earnings per share of $0.52 and revenue of $1.4 billion. The company’s financial performance was higher than what analysts had predicted, which was earnings per share of $0.43 on revenue of $2.1 billion. Also, it was reported that the revenue had grown by 48.8% compared to the same quarter of the previous year.

Looking at the last six months of trading activity, shares of AEM stock have rebounded by 21.99%. Meanwhile, as of Tuesday’s late morning trading action, AEM stock is trading flat on the day at $54.66 a share.

Source: TD Ameritrade TOS

[Read More] 3 Undervalued Stocks To Watch Right Now

Royal Gold Inc. (RGLD Stock)

Finally, Royal Gold, Inc. (RGLD) is a US-based company that specializes in the acquisition and management of precious metal streams and royalties. The company provides funding to mining companies for the rights to purchase a portion of their production at a discounted price, primarily gold and silver.

Today, Tuesday, Royal Gold’s subsidiary, RGLD Gold AG, announced that during the fourth quarter of 2022, it sold approximately 63,100 gold equivalent ounces. In detail, it comprises 46,000 gold ounces, 706,600 silver ounces, and 2,000 tonnes of copper. The average realized prices for the fourth quarter were $1,710 per ounce for gold. What’s more, The company reported it had 21,000 ounces of gold, 461,200 ounces of silver, and 400 tonnes of copper in inventory on December 31, 2022.

In the last six months of trading, shares of RGLD have recovered 13.20%. On Tuesday, Royal Gold stock is trading up on the day by 0.53% at $123.06 a share.

Source: TD Ameritrade TOS

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By Joe Samuel

Joe Samuel is a dedicated stock market researcher and financial contributor. His love for the stock market started at a young age learning from his grandfather. Joe earned a bachelor of science degree in corporate finance and business management. After finishing college, he went the route of an entrepreneur starting numerous businesses and eventually became a financial contributor to a number of outlets including Seeking Alpha, Invesitng.com, and actively contributes to FactSet. At StockMarket.com, Joe looks for emerging stories. One of his traits is identifying new trends before they become mainstream. Whether it’s a biopharmaceutical company debuting a novel treatment or the next technology start-up developing a new platform, Joe looks to be on the cutting edge of that trend.

After years of living in New York, he made the move to Miami, Florida where he’s become an active member of the finance community. Joe has worked with early-stage companies in marketing and consulting capacities, which has given him an opportunity to see what makes companies tick. His viewpoint is that while corporate news is vital to any investment, it’s what isn’t “right in front of you” that can make a good investment great. His approach to the markets is one that aims to deliver information that might not be well-known. But through deep research and diligence, Joe has written about and been able to uncover time-sensitive information when seconds matter in the stock market today.

Joe enjoys covering several stock market sectors. These include commodities, finance, biotechnology, and technology; specifically AI & machine learning. His no-nonsense approach to the market gives readers a cut and dry view of the news that matters most and topics beginning to emerge as new trends in the stock market. He was early to the table with calls on things like the last gold rush in 2019 and has been able to identify influential events and how they could impact certain industries.

During his free time, he enjoys spending time with his family and polishing up one new stock market trends. He’s also an avid car enthusiast with a passion for classic and muscle cars.

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