4 Best Gold Stocks To Watch As Gold Preparing for Another Upside
After having gained considerably over the past few days, gold prices remained steady on Thursday despite a surge in equities and the publication of encouraging United States data. On Thursday, spot gold price rose by 0.1% to hit $1637.80 per ounce after soaring 4% on Tuesday. In this sort of situation, investors may take a look at some promising gold stocks. Here is a look at four of those.
Best Gold Stocks To Watch #1 AngloGold Ashanti
The first one to consider under these circumstances is AngloGold Ashanti (NYSE:AU), which finally ended its mining operations in South Africa. The company sold its South African operation to Harmony Gold for $300 million and made a complete exit from the country, with which it has been associated for many years.
AngloGold now wishes to concentrate on its operations in other areas, including Ghana and other African nations. The company stated that this move would allow it to streamline its business considerably and allow it to run a far more efficient operation. This is a significant development and one that could have a positive effect on its stock.
Best Gold Stocks To Watch #2 Barrick Gold
On the other hand, Barrick Gold (NYSE:GOLD) has emerged as another gold stock that could be put into the watch list. Over the course of the past 12 months, the stock has gained as much as 60%, and more importantly, Barrick is on track to become a company with zero net debt soon.
The company has projected that it could be free of any net debt in the upcoming four to six quarters.
Best Gold Stocks To Watch #3 Comstock Mining
Another gold stock that could be followed in the middle of this gold rally is c Inc. (NYSE:AUY). Earlier this week, the company made an important announcement, and it remains to be seen if it has an effect on the stock.
Yamana announced that it has divested from a royalty portfolio it owned and sold it to Guerrero Ventures for $65 million. The move is a part of the company’s aim of making its portfolio more efficient and freeing up cash to enhance financial flexibility.
Best Gold Stocks To Watch #4 Comstock Mining
Last but certainly not least, it is Comstock Mining (NYSE American: LODE) that could be under consideration for investors looking to invest in gold stocks. On Tuesday, the company provided important updates with regard to its strategic objectives.
The company wants to improve its balance sheet considerably and has also secured international, and Nevada environment permits. These are important developments and could prove to be a boon for Comstock.