Gold stocks have been among the top gainers in the market this year. Obviously this year, gold prices, for the most part, have seen a strong boost. However, recently, gold prices are seeing much more volatility. Yet, while the interim trend has been sideways, overnight, prices held gains and extended a now 4-day uptrend in the wake of the undecided presidential race.
The results from Tuesday’s vote “pours some cold water on the inflation trades out there in the market,” says B. Riley analyst Lucas Pipes. These bets speculated that under a “blue wave election”, there would likely see wider fiscal deficits tied to stimulus efforts. Further spending on infrastructure would add to the pressure on the dollar and help demand.
Even with that as the case, precious metals wouldn’t benefit from infrastructure spending either with “the market expecting more fiscal constraint overall,” Pipes told the Wall Street Journal. For this reason, we saw a bit more volatility in the markets this week. Needless to say, more government spending, regardless of infrastructure or not, still dilutes the dollar. When you’re talking about a low rate environment, gold remains a shining point of focus.
Recent news, volume, and the price of gold are factors that play into the performance of stocks in this sector. While many mining stocks have been high performing, some silver gold miners are among the top of this. Now it is time to talk about some of these mining stocks that have been performing well or having big advancements throughout 2020.Top Silver Stocks To Watch In November 2020: Walcott Resources Ltd.
Walcott Resources Ltd. (WALRF Stock Report) is a silver mining company that acquires, explores, and mines precious metals and resources across properties. The primary focus for the company has been the Tyr Project in Australia that holds inferred resource estimates and many high-grade surface mineral occurrences up to 4,710 grams per ton of silver (g/t Ag). Inside of the project region, is two historic silver mines that produced silver, zinc, and lead in the early 1900s. The plan is to fast-track plans for a site visit to review previously determined prospective silver targets. The result of this is to create an inaugural drilling campaign. On November 4th, Walcott announced its plans to speed up the exploration program on the Tyr Project.
David Thornley-Hall had this to say, “The fact there are two historic silver mines and numerous reported mineral occurrences, potentially within a 20 km by 4 km potentially mineralized system, suggests that a considerable future pipeline of work is warranted. Leveraging earlier work, we aim to rapidly deploy field teams to the Tyr Silver Project to commence reviewing preliminary targets and accelerate the formulation of our inaugural drilling campaign.”
It will be interesting to see what effect this will have on the company. If this sped-up plan results in more resources for the company, the effects of that could be positive. Things are unsure at the moment, but that is why WALRF stock is on this list of gold stocks to watch.Top Gold Stocks To Watch In November 2020: Sibanye Stillwater Limited
Sibanye Stillwater Limited (SBSW Stock Report) is another mining company with a primary focus on producing gold, platinum, silver, zinc, and more. The company operates properties that are located in the United States, Zimbabwe, Canada, South Africa, as well as Argentina. On November 3rd, Sibanye made an odd-lot offer to shareholders that hold less than 100 shares.
In addition to this, it also offered to repurchase shares from people who owned between 100 to 400 shares of the company. Its ordinary shareholder numbers have increased 60% to 30,000 since June of 2019. The company states that these offers will “Reduce the complexity and cost of managing a significantly larger shareholder base”.
Just one week ago though, the company released new financial results. Sibanye said that its group adjusted EBITDA was up 182% compared to the September 2019 quarter. This was another record for the company. While the company was impacted by the pandemic and has things delayed, high commodity prices are the result of this recent financial result.Top Gold Stocks To Watch In November 2020: Kinross Gold Corporation
Kinross Gold Corporation (KGC Stock Report) is an acquisition, exploration, and development focused mining company based in Canada. It primarily will search for resources like gold and silver in Canada, the United States, Russia, Brazil, Mauritania, Ghana, and Chile. The company just released strong quarterly results. As of the 31st of December 2019, it held reserves with 24.3 million ounces of gold and 55.7 million ounces of silver. Let’s dive into these recent financial reports.
On November 4th, Kinross Gold Corporation released its third quarter results for 2020. In these results, the company stated that its operating cash flow more than doubled to $544.1 million. Its adjusted operating cash flow increased by 86% to $549.6 million year over year. The company’s net earnings also near quadrupled to $240.7 million or $0.19 per share.
The CEO of the company, J. Paul Rollinson said, “Our mines continued to perform well as our global teams have effectively managed the operational challenges caused by the COVID-19 pandemic. As a result, we are well on track to meet our annual guidance for production and costs for the ninth consecutive year.”
It will be interesting to see how this news affects KGC stock price, as this financial report was released after the close.Top Gold Stocks To Watch In November 2020: B2Gold Corp.
B2Gold Corp.(BTG Stock Report) is a gold producer that actively operates mines in Mali, the Philippines, and Namibia. The company has expanded its evaluation and exploration assets in some other countries as well including Finland and Uzbekistan. B2Gold is another company that just posted its third-quarter financial results. Back in the company’s second-quarter earnings, it completely missed estimates. Its bottom line improved but it wasn’t enough to help the other parts of the company. But now, B2Gold has reported its Q3 results so let’s dive in.
These third quarter results from B2Gold were reported after the close on November 3rd 2020. It was here the company announced consolidated gold production of 248,733 ounces, a 17% increase year over year. Its quarterly consolidated gold revenue of $487 million was a record for the company, a 57% increase year over year from 2019. It also reported record quarterly consolidated cash flow, up 79% year over year to $301 million.
As of November 4th, BTG stock price is at $6.50 a share, actually down 5.47% on the day of. But now we will see what the effects of this positive quarterly report is on BTG stock on the following day, November 5th.