5 Best Gold Stocks to Buy Now

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Investing in gold dates back to ancient times.

In the world of finance, gold has its supporters and its detractors. However, few would dispute gold’s unique place in the markets as a store of value unmatched by most other assets.

Regardless of your position on the precious metal, experts agree that gold stocks can be a valuable addition to a balanced portfolio. Even if you don’t think gold is a great inflation hedge, you can’t deny that it has maintained its purchasing power over time.

Real gold is difficult and expensive to obtain. However, investors can diversify their portfolios and gain exposure to gold by buying gold stocks.

Here are the top five gold stocks with strong fundamentals and attractive valuations.

Sibanye-Stillwater Corp.

Precious metals are mined and refined by Sibanye-Stillwater, located in South Africa. Additionally, the company cultivates and extracts mineral features. Its global holdings include gold, copper and platinum operations in the United States, South Africa and Zimbabwe. Additionally, the company has a 30% stake in a Finnish lithium project.

The company has signed a 3-year wage agreement for its gold operations in South Africa, effective July 1, 2021. The months-long two-union lockout ended with the signing of the agreement, including an “inflation-linked contract”. ” average salary increase of 6.3% over three years.

Newmont Mining, Inc. (NEM)

According to production and market capitalization, Newmont is the industry leader in gold mining. Due to its size, the company can benefit from economies of scale and synergies with other departments. It also has a sizable war chest to explore and acquire other mining operations.

Casanova, however, claims that the gold mining industry has progressed to the point where huge miners are no longer automatically considered trustworthy. Instead, she explains that they are beneficial because of their ability to generate value. Newmont is down about 11.8% this year as of July 15 compared to the 18.9% decline in the S&P 500.

OceanaGold Company

OceanaGold is a gold producer in Australia that also explores for and mines gold. In addition, copper and silver are produced by the company. It operates mines in the Philippines (Didipio Mine), New Zealand (Macraes and Waihi) and the United States (Haile Gold Mine). About 2,300 employees work for the company.

OceanaGold also offers over-the-counter (OTC) trading in the United States for its shares under the symbol OCANF. On April 28, 2022, OceanaGold announced first quarter financial results. Revenue nearly quadrupled from a year earlier, while net profit increased almost fivefold. Strong overall gold production and a record quarter for gold from the Haile mine fueled the success.

Golden Minerals Society (AUMN)

Another junior mining company, Golden Minerals, has started full gold and silver production at its Rodeo mine in Mexico. The company expects to profit from operating the mine through the third quarter of 2023. In addition, the company’s two silver and gold mines in Mexico that had been closed are expected to reopen.

Feneck, who consults Golden Minerals and previously owned his shares, notes that this year’s restart decision could be a near-term growth spur.

Successful continuation of drilling on its Sarita Este property in Argentina and on the Yoquivo project in Mexico would also be a positive catalyst. Additionally, Barrick could potentially increase its stake in Golden by 70% via an exploration agreement if the company’s El Quevar project in Argentina yields favorable results.

The company’s cost per ounce of gold was $1,156 in the first quarter. It had sales of $3 billion and adjusted net income of $546 million on production of 1.34 million ounces of gold.

Dundee Precious Metals Inc.

DPM is a Canada-based global mining company that acquires, explores, develops, mines and processes assets containing precious metals. Chelopech operates a copper, silver and gold mine in Bulgaria; Krumovgrad is building a gold project in Bulgaria, and Tsumeb owns and maintains the commercial concentrate processing plant in Namibia.

DPM also owns OTC shares which trade as DPMLF in the United States. On May 4 this year, Dundee released its financial results for the first quarter of 2022. Year-over-year sales and net profit increased significantly (YOY). Chelopech, the company’s mining business, has contributed to this expansion by producing more gold and copper.

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