“Spot gold prices have risen recently to around USD 2,040 per ounce on rising expectations that the world’s central banks, led by the Federal Reserve, are close to ending interest rate increases. Tickers city index review are real-time or time-delayed displays of financial information about publicly traded companies. The ticker communicates sufficient information in compact form for you to make informed trading decisions.
- Net debt was USD 1.6 billion at end September 2023, around 0.5 times trailing 12 months EBITDA.
- The balance sheet remains strong, with minimal net debt of about USD 510 million.
- We modestly raise our fair value estimate for Kinross Gold to USD 5.35 per share, up from USD 5.20, driven by Kinross extending production at its Round Mountain mine in Nevada.
- Every investment has advantages and disadvantages—gold stocks are no different.
- Adjusted EBITDA of USD 760 million increased 13% on the same quarter of 2022, driven by higher gold sales volumes and price, partially offset by increased unit cash costs.
We forecast total 2023 dividends of USD 0.12 (CAD 0.167) per share for a 2.2% forward yield at current share prices. Investments in gold are seen as a safe haven and a crisis-resistant capital investment. It is possible to invest in the yellow precious metal both in the form of securities and through a physical purchase. Gold in its physical form can be purchased from banks, coin and precious metal dealers as bars or bullion coins.
Advantages of Gold Stocks
Stock symbols are usually one- to four-letter codes identifying publicly traded companies, closed-end mutual funds, exchange-traded funds and other securities that trade on the stock markets. Some symbols have extensions to communicate additional information, such as a particular class of share or the exchange on which the security trades. For example, “ABC” would be the symbol for ABC Corporation, a hypothetical company, while “ABC.B” would be the symbol for its Class B shares. Symbols and abbreviations are shorthand forms of financial communication between market participants. Abbreviations are standardized short forms of financial concepts and terms.
Gold Snapshot
Both physical gold and gold stocks have their own advantages and disadvantages. It’s usually recommended to consult a financial advisor before making any financial decision. The stock has a “C” financial health rating and a good solvency ratio. Every investment has advantages and disadvantages—gold stocks are no different. Because of the volatile nature of gold stocks, they are unlikely to be a good investment for novice investors or buy-and-hold investors.
Harmony Gold Mining Limited (HMY)
Sales are in an overall uptrend although they don’t generally increase every year. Earnings can be erratic but analysts expect strong growth over the next five years, including a 42.9% EPS jump this year. Because WPM doesn’t actually mine gold, its earnings tend to be more stable than most gold stocks.
You can read more about our editorial guidelines and the investing methodology for the ratings below. Common market abbreviations are alphanumeric codes to indicate stock exchanges, market indexes and order types. Common market and index abbreviations include “NYSE” for the New York Stock Exchange, “DJIA” for the Dow Jones Industrial Average and “S&P 500” for the Standard & Poor’s 500 Index.
Dividend yield was not a selection factor, but all the stocks on this list except for one pay a dividend. This helps show the companies have a strong enough financial position to pay a dividend. Because of its properties, gold is also one of the most important industrial xm broker review raw materials. The yellow precious metal is easily workable and conducts electricity and heat. Because of its excellent conductivity, gold is used particularly in the electrical industry. Gold has also been used in dental technology for around 3000 years.
Top Canadian Gold Stock Picks Right Now
We now forecast sales volumes of roughly 1.9 million gold equivalent ounces, or GEOs, in 2027, up from about 1.8 million previously, with its Paracatu and Tasiast mines accounting for roughly half. The stock has an “A” financial health rating from Morningstar, shakepay review which is relatively rare among mining stocks. Combined with its high solvency ratio, Dundee is in good financial health. The strong price performance is important because when the price of gold is rising like in 2023, gold investments should also rise.
This line of business accounts for around 75 per cent of the gold worked. Apart from the Antarctic, where mining is not allowed due to international regulations, the precious metal is mined on all continents. With a market share of 16 per cent, South Africa is the most important producer of gold. If you’re serious about purchasing gold stocks, discuss your ideas and strategy with a financial advisor. Forbes Advisor has provided this list of what we believe to be the best gold stocks to own right now. However, each individual investor needs to examine their own investing approach and risk tolerance before deciding which is the best gold stock for them.
Harmony has minimal analyst coverage, hence the lack of a five-year EPS forecast. What is evident is that the company’s sales have been in an uptrend for a decade, and while earnings can be erratic—as with nearly all gold stocks—the stock itself has performed well. We do not assign an economic moat to the enlarged Newmont and reiterate our Medium Uncertainty Rating for the company. Do your due diligence, consult with a financial advisor and decide when the time is right for you to purchase gold stocks.