Markets all around the world have been suffering over the past weeks due to the coronavirus pandemic, and the extent of the damage is still unknown. Gold has emerged as the asset class of choice for many investors due to the turmoil in the markets, and its safe-haven status has only been enhancing in recent days.
Today, the prices went down marginally to $1686.82 an ounce but still remained close to its one-month highs. Here is a look at four gold stocks that could prove to be good investments amidst this gold rally.
Mining Stocks In News to Watch in April #1 Royal Gold
One of the gold stocks that could be tracked by investors at this point is that of Royal Gold (NASDAQ:RGLD), which announced last week that its sales in the fiscal third quarter is expected to be in line with projections. The company announced that its subsidiary sold around 62000 ounce of gold, which was in line with the previous projections of 60000 ounces to 65000 ounces worth of gold sales.
The average gold price for the quarter stood at $1569 an ounce, while the same for its silver produce was $17.79 an ounce. Investors could keep an eye on this stock this week.
Mining Stocks In News to Watch in April #2 Eldorado Gold
Another viable option for investors is Eldorado Gold (NYSE:EGO), which made a major announcement this past week. Eldorado announced that its production levels for the first fiscal quarter rose by as much as 40% year on year to hit 115949 ounces. The boost was primarily provided by the Olympus mine in Greece.
At a time when gold prices are rising, a major boost to production is expected to help the company’s bottom line considerably.
Mining Stocks In News to Watch in April #3 B2Gold
On the other hand, B2Gold (NYSEMKT:BTG) has also emerged as a viable option for investors in recent days on the back of the latest developments. On April 9, the company announced that it managed to hit record quarterly production and revenues.
More importantly, the company revealed that it is on track to hit its annual projection of 1 million ounce of gold production. The gold production for the fiscal first quarter stood at 262632 ounces. Investors who are looking to invest in gold stocks could keep an eye on this stock.
Mining Stocks In News to Watch in April #4 Kirkland Lake
Last but not least, it is Kirkland Lake Gold (NYSE:KL) that could be tracked by investors at this point. Last week, the company announced that its gold production for the fiscal first quarter soared by as much as 43% year on year and 18% sequentially. Production got a major boost from the acquisition of Detour Gold. The stock had also experienced a rally after the announcement was made on April 9.