One of the most active sectors to pay attention to right now is gold. In fact, the latest surge in gold prices has triggered a jump in gold stocks. Several key economic factors are helping boost the metals market right now. This includes unrest in the Middle East, looming interest rate declines, and new money flows into safe-haven stocks. It just so happens that some gold stocks to watch have been seen as safe havens.
Because of these factors, it’s important to take into account some gold stocks to take a look at this month:
Active Gold Stock To Watch #1:
Golden Star Resources
Shares of Golden Star Resources (GSS Stock Report) saw a massive sell-off from April to mid-June but that all changed recently. The continued rise in gold prices has fired up plenty of gold stocks over the last month. One of the latest beneficiaries is active penny stock Golden Star Resources Ltd. The company’s stock gained 13% in Monday’s session due to a major announcement with regards to one of its projects.
The gold stock announced that it found significant ‘gold mineralization’ at its gold mine in Ghana. In addition to that, the result at one of its other gold mines at the Farmer Brown site was also positive. It could prove to be a penny stock to watch for the foreseeable future. Moreover, the stock is up over 35% over the past month.
Active Gold Stock To Watch #2:
RosCan Gold Corporation
This Canadian-based gold stock to watch has targeted focus in West Africa. A program of detailed soil and termite sampling was completed in specific areas of the Mankouke and Moussala North permits by RosCan (ROS.V Stock Report). The initial sampling program of its Kandiole Project identified 13 artisanal mining areas. These returned rock grab samples of more than 0.5 g/t gold with local highs exceeding 10 g/t gold at Niala. The newly identified mining sites have not been evaluated in the past. As such represents new evaluation opportunities for RosCan.
One of the bigger reasons investors may be watching this gold penny stock is the specific locale of its operations. According to Mining Intelligence, West Africa’s mining development pipeline is strong. How strong? Roughly 33% of all assets, regardless of the commodity are in the production or construction stages. Another 45% of all projects undergoing economic assessment studies. Finally, 74% of all exploration projects are focused on gold.
Active Gold Stock To Watch #3:
Coeur Mining Inc
The third gold stock to watch; Coeur Mining (CDE Stock Report). The company released its second-quarter production numbers. These entailed over 86,000 ounces of gold and millions of ounces of silver. CDE also recorded over 5 million pounds of zinc as well as 5 million pounds of lead.
“Our second quarter operational results were in-line with our expectations and reflect solid, double-digit production increases across all four metals we produce,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. Unlike the other two gold stocks on this list, Coeur focuses on mining in North America. It has mines in Mexico, Nevada, Alaska, South Dakota, and British Columbia, Canada.