Gold stocks are something to pay attention to this month. The uncertainty created in the market has been due to the United States-China trade war and the rate cut confusion of the United States Federal Reserve. This has instigated many investors to park their money in more stable assets. Specifically, they’ve been looking for silver and gold penny stocks to watch for July.
Additionally, the change has also caused a sustained rise in the price of gold and silver penny stocks. Making the right choice can end up making you a lot of money with these kinds of penny stocks. Here is a look at 5 such stocks which have made big moves recently.
Silver And Gold Penny Stock #1 New Gold Inc
The first one is New Gold Inc (NGD Stock Report) rallied by as much as 10.44 on Tuesday. This came on the back of some penny stock news about its all in sustaining costs (AISC). The company stated that its AISC is going to fall between $1,330 and $1430 per ounce of gold.
Although the gold stock has rallied, it’s important to note that it may still be expensive. That’s considering the fact that Barrick Gold had AISC of $825 per ounce in the first quarter this year. In this regard, it needs to be added that the costs related to ramping up operations in the Rainy River project have driven up the AISC for New Gold. Although the project could produce 250,000 ounces of gold, the AISC is pegged at $1,740 for the site.
Silver And Gold Penny Stock #2 Kinross Gold Corporation
Another gold stock that rallied recently was Kinross Gold Corporation (KGC Stock Report). KGC stock went up by as much as 4.66% on Tuesday. The company is scheduled to announce its financial results for Q2 2019 on July 31 and it seems the anticipation of favorable results has possibly pushed up the penny stock.
Gold And Silver Penny Stock #3 Harmony Gold Mining
Harmony Gold Mining Co. (HMY Stock Report) develops, explores and in the processes involved in gold mining properties. HMY stock enjoyed a rally recently. The company has properties in Papua New Guinea and South Africa and has rallied by more than 5% earlier this week.
The move in the gold penny stock came about due to an upgrade from JP Morgan analysts. In addition to that, Harmony’s joint venture partner Newcrest Mining Limited inked an agreement with the Papua New Guinea government for a fresh project.
Gold And Silver Penny Stock #4 Yamana Gold Inc
Yamana Gold Inc. (AUY Stock Report) rallied by 6.20% after news broke about the sale of Chapada. According to experts, it could prove to be a hugely important development for the company’s shareholders. Yamana is one of the few companies in the sector which actually pays quarterly dividends. It’s believed that following the Chapada sale, the dividend could go up from $.02 a share to $.04 and hence the rally is understandable. The penny stock has gained 50% since late May.
Silver And Gold Penny Stock #5 Tanzanian Gold
Lastly, Tanzanian Gold (TRX Stock Report) was another gold penny stock that enjoyed a significant upsurge. This came after it announced that it had managed to raise $1,111,500 through a placement of common shares. As a result, 1,916,379 common shares were placed at $0.58 per share. The proceeds will be used to fund Tanzanian’s Three Phase Drill Program at one of its more important projects at Buckneef.
Moreover, TRX stock made a new 52-week high of $1 in Tuesday’s session. The stock has gained 180% so far this year.
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