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Best Gold Stocks To Watch This Week? 4 Names To Know

Are these the best gold stocks to buy right now after the recent pullback?

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Can These Top Gold Stocks Continue Their Bullish Momentum Into May 2021?

When it comes to the question of what stocks to buy today, investors may want to consider gold stocks. Why? Well, some would consider gold stocks as a safe haven amidst volatile times on the stock market. For starters, some of 2020’s top growth stocks appear to be coming off their pandemic boosted highs. As you’d expect, this would be the case given improving pandemic conditions. While investors may be trimming their holdings in growth names like Netflix (NASDAQ: NFLX), gold prices continue to rally. So much so, that the commodity appears to be rising towards an eight-week high of $1786.17 an ounce.

Moreover, we continue to see the pace of inflation rising. In fact, it hit a two and half-year high last month. At the same time, we saw the dollar weakening over the past few weeks. As seasoned investors would know, gold prices usually strengthen as major fiat currencies weaken. Because of this, the likes of Sibanye Stillwater (NYSE: SBSW) and Coeur Mining (NYSE: CDE) continue to rise. Both companies’ share prices have more than doubled in value over the past year. Given the current momentum in the gold industry now, you might be interested to invest in top gold stocks yourself. If you are, here are four of the top gold stocks to watch in the stock market today.

Gold Stocks To Watch Ahead Of May 2021

Newmont Corporation

Newmont is one of the world’s largest gold producers and a producer of copper, silver, zinc, and lead. The company’s world-class portfolio of assets spans many continents. It is also the only gold producer that is listed in the S&P 500 index. Boasting over 31,600 employees and the largest gold reserves in the world, the company is truly a force to reckon with in the industry. NEM stock currently trades at $66.59 as of 1:04 p.m. ET and has been up by over 15% since the start of March.

Source: TD Ameritrade TOS

In February, the company reported record full-year and fourth-quarter financial results, much to investors’ delight. Newmont produced 5.9 million attributable ounces of gold and over 1 million attributable gold equivalent ounces of co-products. The company had achieved its 2020 full-year guidance with these figures. Impressively, Newmont also ended the year with $5.5 billion in consolidated cash. The company also delivered over $2.7 billion to shareholders through dividends and share buybacks. For its 2021 outlook, the company hopes to produce 6.5 million ounces of gold.

On top of generating record value for shareholders, the company has over 94 million ounces of gold mineral reserves and 65 million ounces of gold equivalent ounces reserves. Given all of this, will you consider adding NEM stock to your portfolio?

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Barrick Gold Corp

Barrick is a mining company that strives to be the world’s most valued gold mining business. It has gold and copper mining operations and projects in 13 countries. In essence, the company is focused on high-margin, long-life operations and projects clustered in the world’s most prospective gold districts. GOLD stock currently trades at $22.63 as of 1:04 p.m. ET and has been up by over 15% since March. Last week, the company announced solid first-quarter financials. It is also on track to achieve its 2021 production targets.

Source: TD Ameritrade TOS

Firstly, the company reported preliminary Q1 sales of 1.09 million ounces of gold and 113 million pounds of copper. Secondly, it also announced preliminary Q1 production of 1.10 million ounces of gold and 93 million pounds of copper. On Monday, Barrick had also reported that its Kibali mine is off to a strong start to 2021, producing over 190,000 ounces of gold in the first quarter of 2021.

The mine is on track to achieve its full-year target. Efficiency improvement projects completed during the quarter, including an upgrade of the hoisting infrastructure, will boost its performance further. For these reasons, will you consider buying GOLD stock?

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Gold Fields Limited

Gold Fields is a globally diversified gold producer with nine operating mines in Australia, South Africa, and Peru among others. The company continues to deliver value for shareholders by having a long life and low-cost production sites. The company also delivers world-class operating performance and maintains a project pipeline for growth. GFI stock currently trades at $10.14 as of 1:05 p.m. ET.

Source: TD Ameritrade TOS

In February, the company reported its full-year 2020 financial results. To start things off, the company reported an attributable production of 2.23 million ounces of gold in 2020, Gold Fields also posted a net cash flow of $631 million. The company affirms that its portfolio is positioned to produce between 2 million to 2.5 million ounces of gold annually for the next 10 years. Given the company’s long-term strategy, will you consider adding GFI stock to your list of top gold stocks to buy?

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Kinross Gold Corporation

Last but not least, we have Kinross Gold Corporation. The Canadian-based gold and silver mining company is a leading player in the gold-mining industry. As it stands, Kinross has gold-bearing operations across the globe. Notable sites are situated in the U.S., Canada, Russia, and Brazil to name a few. Similarly, KGC stock is up by 10% this month and currently trades at $7.67 a share as of 1:05 p.m. ET. With the current tailwinds in the gold industry, should investors be watching it now?

Source: TD Ameritrade TOS

Based on the company’s latest operational update from February, Kinross appears to be kicking into high gear. In detail, CEO J. Paul Rollinson reported that Kinross added 5.7 million gold ounces to its reserve estimates in 2020. This marks a sizable 23% year-over-year increase.

On top of that, Kinross is actively developing new gold operations while bolstering existing projects across its portfolio as well. Rollinson reported that the company’s Tasiast 24k and La Coipa projects, which are currently under construction, “remain on schedule and are proceeding well”. Seeing as the company is set to release its first-quarter earnings on May 11, investors could be watching it closely. To this end, would you consider KGC stock a buy right now?

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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