gold stock to watch

Gold stocks have greatly benefited from the rise in the price of gold. It has been one of the more important developments over the course of the year so far. The uncertainty with regard to rate cuts and the continued trade war between the United States and China has been a major catalyst.

However, the strength in the U. S. Dollar index affected the price of gold somewhat on Tuesday. August gold futures hit $1395.80 an ounce and declined by $4.20. With that in mind, here is a look at a few gold stocks to watch ahead of Thursday’s Jobs Report.

A Gold Stock Ready For New Highs? Iamgold Corp (IAG)

IAG gold stock to watch IAMGOLD stock chart

The first gold penny stock to consider is Iamgold Corp (IAG – Free Stock Report). We published an article about the mining penny stock in June and so far IAG stock price has turned higher. This is important since many analysts believe that the price of gold could continue to rise. After the increase in gold prices last month, IAMGOLD stock rose by as much as 3%. This came along with an industry-wide rally. It also helps that the company reported an all-in sustaining cost (AISC) of $1,086 per ounce.

That cost is, in fact, better than some of its peers. However, note that the company suffered a bit due to an earthquake at some of its locations. That being said, it remains to be seen how IAMGOLD’s cost-cutting measures affect the penny stock price.

Can The Gold Penny Stock Rally Continue For Kincross Gold (KGC)?

KGC gold penny stock Kinross Gold stock chart

Another gold stock to watch that has had a sound run is Kincross Gold (KGC – Free Stock Report). The stock recently gained 2.5%. However, keep in mind that the stock has been rising for two months now. On top of that, over the course of those two months, it has gained 30%.

The company announced that its result for the second quarter this year is going to be published on July 31 and the day after, the CEO will host a conference call. Those two events are going to be closely watched by investors.

Hecla Mining (HL): A Gold Stock To Watch At Key Technical Levels

HL gold stock Hecla Mining stock chart

The other gold stock to watch in July is Hecla Mining (HL – Free Stock Report). Shares of Hecla Mining stock soared by as much as 37.4% in June and it has continued to gain momentum this month. HL stock performed miserably back in May and lost 37.6% in its value.

However, it roared back in June after Hecla put out some positive news. The gold company announced that it was revising its mining operations in the state of Nevada. That update, in addition to the rise in gold and silver prices, resulted in the rally. After rallying so strongly, Hecla stock has pulled back to its 50 Day moving average.

With stock market volatility being a regular event, could a spark in gold prices bring more excitement to this gold stock?

Like This Article? Check Out: 3 Penny Stocks to Watch This Month


Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

3 Penny Stocks That Top Are Investors Buying Right Now

Which penny stocks are you watching in September 2021? Here’s three for some watchlist inspiration