SGDJ Sprott Junior Gold Miners ETF

gold mining stocks

They already own, and endeavor to find more of, what the world’s larger mining companies need, to replace reserves and grow their asset bases. As concerns of undersupply linger on, the precious metals market will be well-positioned to maintain its bullish trend from the start of 2023. It’s important to note that last year’s gold demand surged by 18% to 4,741 tonnes, almost on par with 2011 – a time of exceptional investment demand, according to WGC data. Meanwhile, total supply only increased 2% to 4,755 tonnes, mainly due to mine production rising to a four-year high. Then the company goes through a long waiting period during which it must demonstrate the mine’s profitability to investors, as well as funding, which creates a whole new set of risks.

gold mining stocks

It has a diversified portfolio, with agreements tied to gold, silver, the platinum group metals (PGMs), iron ore, and oil and gas. If you’re serious about purchasing gold stocks, discuss your ideas and strategy with a financial advisor. Whether you choose to buy physical gold or gold stocks depends upon your own goals and requirements. From your brokerage account, choose the stock you want to buy, the price at which you want to purchase it and how many shares of the stock you wish to own.

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However, similar to Newmont and Barrick, we don’t think its unit costs are low enough to justify a moat. We forecast Agnico Eagle’s gold production to be about 3.6 million ounces in 2027. Detour Lake, Canadian Malartic, Meadowbank, Meliadine, and LaRonde account for more than 70% of Agnico Eagle’s midcycle production in 2027. The precious metal stock has a market cap of $7 billion and an EPS of $3.04. Royal Gold trades more than 92,000 shares per day and generated revenue of $423 million in 2019.

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But investing in gold itself means having to store and protect the bars or coins, which isn’t always practical. In its Q4 and full-year 2022 results, Freeport-McMoRan states that long-term mine development activities are underway at Grasberg’s Kucing Liar deposit. The company anticipates that the deposit will ultimately produce more than 6 billion pounds of copper and 6 million ounces of gold (or 170.1 MT) between 2028 and the end of 2041. Better known for its copper production, Freeport-McMoRan produced 56.3 MT of gold in 2022. The vast majority of that production originates from the company’s Grasberg mine in Indonesia, which ranks as the world’s second largest gold mine by production. The Australian company operates a total of five mines across Australia, Papua New Guinea and Canada.

Equinox Gold (AMEX:EQX)

Gold companies can potentially generate higher total returns than an investment in physical gold. That’s because these companies can expand their production and reduce costs. Rising earnings can help drive stock prices up faster than the price of gold. Finally, investors who don’t want to try to identify the best individual gold mining stocks can consider buying shares in gold ETFs, which are more convenient and cost-effective options for investing in gold stocks. A gold ETF offers broad exposure to the sector by owning either shares of gold mining companies or physical gold. Because of the wide availability of gold ETFs, you don’t have to be a stock-picking guru to participate in the gold industry’s upside.

gold mining stocks

The company expects to produce approximately 2.8 million to 2.9 million ounces (or 79.37 to 82.21 MT) of gold in 2023. Wheaton Precious Metals Corp. is a well-diversfied mining company, with earnings from gold, silver, palladium and cobalt. While its production and revenue declined in 2022, it has plans to develop 13 new sites and boost its production in 2023. Analysts consider its long-term production outlook to be positive and rate WPM a “buy.”

Gold vs Gold Stocks

Gold streaming is the provision of upfront financing to gold miners in exchange for the option to buy finished gold bullion at a discount in the future. Since mid-2020, SSR’s share price has been ranging between $33 and $17, and the stock is currently near the bottom of that range. The stock trades a P/E ratio of 15.1—values from 9 to well above 30 are common, so the stock is moderately priced in that regard. Gold Fields Limited is based in South Africa, and the company maintains gold mining operations in South Africa, Ghana, Australia and Peru. The list of symbols included on the page is updated every 10 minutes throughout the trading day. However, new stocks are not automatically added to or re-ranked on the page until the site performs its 10-minute update.

  • In its latest analysis, UBS said it sees gold hitting $2,100/oz by year-end and $2,200/oz by March 2024.
  • Here are our policies and procedures, including guidelines, charters, and codes of business.
  • If you are looking for stocks by price, be sure to take a look at our other pages covering stocks by price.
  • Because Franco-Nevada can profit from gold mining without exposure to the risks of mine development, its stock has historically outperformed the price of gold and other gold mining stocks.
  • And finally, the possibility of a global recession in 2023 could prompt central banks to increase liquidity.
  • Investors buy gold to hedge against risks such as rising inflation, geopolitical events, and financial crises.

As a quick reminder, these companies lend upfront capital to producers and explorers in exchange for either a share of the metal sales (royalty) or a share of the metal itself (stream). The Global Resources Fund takes a multi-faceted approach to the natural resources sector by investing in energy and basic materials. The Gold and Precious Metals Fund is the first no-load gold fund in the U.S. We have a history as pioneers in portfolio management in this specialized sector. Our team brings valuable background in geology and mining finance, important to understanding the technical side of the business. MacRury admitted that investors were likely to consider AEM’s Q4 results as “disappointing,” considering the company’s gold production guidance for 2023 and 2024 was 6% below the analyst’s forecasts and AEM’s prior guidance.

Royal Gold (NASDAQ:RGLD)

Typically, gold holds its value, so gold stocks are considered a good investment. Equinox Gold Corp is a growth focused gold producer operating entirely in the Americas, with projects in Canada, the USA, Mexico and Brazil. Equinox Gold has around seven operating gold mines and a clear plan to increase production by advancing a pipeline of growth projects. Gold stocks hold a valuable place in asset allocation for investors, especially in times of high inflation and economic uncertainty. Investing in gold can be tricky, but one of the best ways to gain exposure to gold is through the S&P Gold Shares ETF (GLD).

Zijin Mining Group rounds out this top 10 gold companies list with production of 55.9 MT of gold in 2022. The company’s diverse metals portfolio includes seven gold-producing assets in China, and several others in gold-rich jurisdictions such as Papua New Guinea and Australia. Polyus produced 79 MT of gold in 2022 to take fifth place among the top 10 gold-mining companies. It is the largest gold producer in Russia and holds the highest proven and probable gold reserves (more than 101 million ounces) globally. Coming in fourth on this top gold-mining companies list is AngloGold Ashanti, which produced 85.3 MT of gold in 2022.

We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams.

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