Gold is a precious metal that has been used as a store of value for thousands of years. It is a popular investment option for those looking to diversify their portfolios and hedge against inflation. One way to invest in gold is through physical ownership, such as buying gold bullion or coins. Another option is to invest in gold stocks, which are companies that are involved in the mining, exploration, and production of gold.

Gold stocks can offer a leveraged way to gain exposure to the price of gold. For example, if the price of gold goes up by 10%, a gold mining company’s stock could potentially go up by 20% or more. However, it is important to note that the performance of gold stocks is not solely tied to the price of gold. Factors such as the company’s management, production costs, and overall industry conditions can also greatly impact the stock’s performance. Additionally, gold stocks are also subject to the overall stock market conditions and can be highly volatile.

Investing in gold and gold stocks can be a good way to diversify your portfolio and potentially protect your wealth during times of economic uncertainty. However, as with any investment, it’s important to do your own research and understand the risks before investing. It is also important to remember that gold and gold stocks should only be a small portion of a diversified investment portfolio. With this in mind, here are three top gold stocks to watch in the stock market today.

Gold Stocks To Watch Right Now

Barrick Gold (GOLD Stock)

To begin, let’s first look at Barrick Gold (GOLD). Barrick Gold Corporation is a gold mining company that operates in various countries around the world, including Canada, the United States, Argentina, Chile, and the Dominican Republic. It is one of the largest gold producers in the industry, with a diverse portfolio of mines and projects that are focused on the development and extraction of gold and other minerals.

GOLD Recent Stock News

The month, Barrick reported preliminary production results for the full year and fourth quarter of 2022. The company’s Q4 gold production was 13% higher than the previous quarter, resulting in preliminary gold production for the full year of 4.14 million ounces, which is 1% lower than the previous guidance of 4.2 million ounces.

The company expects Q4 gold cost of sales per ounce to be 4-6% higher, total cash costs per ounce to be 2-4% lower, and all-in sustaining costs per ounce to be 1-3% lower than the previous quarter.

Gold Stock Chart

In the last six months of trading action, shares of GOLD stock have rebounded by 21.17%. While as of the end of Thursday’s trading day, GOLD stock closed the day up 1.85% at $18.72 a share.

GOLD stock

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Newmont Corp. (NEM Stock)

Next, we have Newmont Corporation (NEM). In brief, Newmont Corporation is a gold and copper mining company with operations in the Americas, Australia, and Africa. The company is one of the largest gold producers globally and has a diverse portfolio of assets and projects, including underground and open-pit mines, as well as development projects.

NEM Recent Stock News

Back in December, Newmont Corporation has been included in the Dow Jones Sustainability™ World Index for the 15th consecutive year. The index represents the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index. This is made up based on environmental, social, and governance (ESG) performance.

Newmont achieved the top score in the Metals and Mining Industry and received the top score for the Governance and Environment dimensions. The company also earned top decile performance in 23 out of 25 categories in the 2022 S&P Global Corporate Sustainability Assessment (CSA).

NEM Stock Chart

Taking a look at the last month of trading action, NEM stock has rebounded by 10.18%. As of Thursday’s closing bell, shares of NEM stock closed higher by 1.82% at $52.47 a share.

NEM stock
Source: TD Ameritrade TOS

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Franco-Nevada Corp. (FNV Stock)

Last but not least, Franco-Nevada Corporation (FNV) is a Canadian gold-focused royalty and streaming company. It provides upfront financing to mining companies in exchange for a percentage of the mining company’s gold and other precious metal production. This means that the company does not have to bear the costs and risks of exploration, mine development, and operation. Instead, it receives a percentage of the gold and other precious metals produced by the mining companies it has invested in.

FNV Recent Stock News

This week, Franco-Nevada Corporation announced that its Board of Directors has raised its quarterly dividend to US$0.34 per share. This reflects a 6.25% increase from the previous US$0.32 per share. The dividend will be payable on March 30, 2023, to shareholders of record on March 16, 2023. This marks the 16th consecutive annual increase for Franco-Nevada shareholders.

FNV Stock Chart

Over the last six months of trading, FNV stock has gained by 18.84%. Meanwhile, on Thursday, shares of FNV stock closed the day up 1.75% at $146.25 per share.

Source: TD Ameritrade TOS

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