Gold stocks caught a head fake this week. It came after the Fed cut rates. What was expected and what ended up happening were two separate things. Many thought penny stocks in this sector would have rallied but instead dropped to weekly lows.
Usually gold stocks tend to perform well when interest rates fall but that wasn’t the case. However, today’s China tariff comments from the US President helped secure the importance that several gold penny stocks may actually have in August. This has essentially confirmed the unrest across global economies as new liabilities arise from more tariffs.
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They say if you can’t stomach a 20% drop, you shouldn’t be in the market. Despite gold exploding over the last few months, stocks had a brief but large pullback on Wednesday. This inevitably shook out novice traders. Needless to say, those hanging on for the ride are seeing green from gold stocks today. Sound familiar to what’s happened with marijuana stocks over the years?
This in mind, let’s take a look at a few gold stocks to watch after this latest catalyst. One of the best-known indexes of small resource stocks in the world is the Canada’s Exchanges. For this reason, we’ll be looking at the Canadian listing for these gold stocks to watch in August.
Gold Penny Stocks To Watch: B2Gold Corp (BTO.TO) (BTG)
The Vancouver-based B2Gold Corp (BTO.TO Stock Report) is one of the top gold producers in the world. The company has 5 operating gold mines across a number of countries. These include Nicaragua, the Philippines, Mali, Burkina Faso and Colombia. While gold prices are flying high, B2Gold stock is following suit. Following Trump’s comments on Thursday, shares of the company aggressively reverse direction to the upside.
Everything that the gold penny stock gave up during the late afternoon on Wednesday and early morning Thursday was earned back. In fact, B2Gold once again tested its 2019 high of C$4.45 during the afternoon session.
With this in mind, B2Gold executives will soon host a conference call to discuss quarterly results on Wednesday, August 7, 2019, at 10:00 am PDT/1:00 pm EDT. Assuming gold price continues to surge, this could be a critical report to make note of.
RosCan Gold Corporation (ROS.V) Targets Prolifit Gold Regions Of Leading Gold Penny Stocks
This is another gold penny stock to watch as it has also targeted regions that are known for gold discoveries. RosCan Gold (ROS.V Stock Report) has put together a notable land position of 100%-owned permits in an area of producing gold mines that includes B2Gold’s Fekola Mine. This mine is in a contiguous property to the west of Roscan’s Kandiole. Over the last few weeks, the company has seen increased attention within the market.
It may not have been for random reasons either. Toward the tale end of July, the company announced that it had made a new discovery at its Kandiole project in Western Mali. Its latest, expanded gold zone drilling program tested extensions of the Mankouke gold discovery zone. The assay results support the existance of a mineralization target corridor that’s associated with the Mankouke discovery.
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Greg Isenor, president and chief executive officer of Roscan Gold, stated: “Our land package has great potential and we are extremely encouraged by the hits we are seeing on the Mankouke permit. There are many assays yet to be received and these will be available in the coming weeks. We are extremely pleased our approach to exploration in this area has been successful. Additional drilling is part of an obvious next step.
Gold Stock Leaving Penny Stock Territory For Good? Kinross Gold Corporation (K.TO)
Another gold penny stock to watch in August, Kinross Gold (K.TO Stock Report) broke out of penny stock territory this quarter. Furthermore, Kinross stock price broke new 2019 highs during the afternoon session. What helped boost shares of this gold stock?
Two key pieces of penny stock news were released that shed positive light on the company. First, The Globe and Mail reported that Kinross struck a USD$283 million deal to buy a Russian gold project. Privately held N-Mining would arrange to buy the Chulbatkan project for a combo of cash and stock. Kinross would eventually develop the property located in Russia.
Next, also reported by The Globe and Mail, Kinross posted a net profit of $71.5 million for its second quarter ended June 30. This beat street estimates. Furthermore, Kinross expressed that it would be giving an update to what could be expanded efforts on its mine in West Africa.
Another Gold Stock To Watch In August: Yamana Gold (YRI.TO)
Shares of this penny stock broke to prices it hasn’t seen since February of 2018. Yamana Gold (YRI.TO Stock Report) screamed to highs of C$4.24 on Thursday amid new market catalysts. The company recently posted its quarterly earnings in July. Results showed favorable growth for the company. Yamana posted a 7% year over year increase in GEO productions for gold and silver production. Additionally, the company saw higher levels of free cash flow as well.
Yamana stock has been one we’ve discussed multiple times this month. To say the least, PennyStocks.com has been focused on this sector move for gold penny stocks for weeks at this point. As it pertains to Yamana, the gold penny stock has crushed it in the market. From roughly C$2.45 in May to over C$4.20 on August 1, this has been one of the top gold penny stocks to watch this quarter. Even the company’s CEO was excited with Yamana’s performance.
“This was one of the more important and exciting quarters in Yamana’s history. We have embarked on a new era, significantly improving our balance sheet and financial flexibility, which will allow us to pursue our organic growth opportunities at a time when the metal price cycle appears to be turning.”
Daniel Racine, President and Chief Executive Officer of Yamana.
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