TMQ - 3 Gold Stocks To Buy For Under $4 As ETFs Head Higher
Are These Gold Stocks On Your Watch List This Week?
After last week’s trading activity, some gold stocks are gaining more attention. Bit it’s not just based on the technical trend of the market alone. As we discussed late last week, some hedge funds are beginning to speculate on record gold prices. Specifically, we highlighted Greg Jensen of the world’s largest hedge fund, Bridgewater Associates, and how he’s expecting record gold prices. In turn this could dramatically drive gold stocks and other mining stocks higher.
Think about it for just a moment. Jensen thinks the precious metal will reach a new milestone of $2,000 per ounce. That would be a monstrous move for gold considering that right now it’s trading around $1,550/ounce. This should be something for investors to pay close attention to especially considering other factors at play. Like we have in the past, Jensen highlights growing political uncertainties and higher inflation levels could lead to more expensive gold prices.
[Free Gold Stocks Webinar] 5 Bullish Cases For Gold Stocks & How To Stay Ahead Of The Trend In 2020
So, it’s no wonder why we’ve seen several gold stocks and gold mining-related issuers push higher this month. A perfect case in point is gold ETFs over the last week. The iShares Gold Trust (IAU – Free Report), SPDR Gold Trust (GLD – Free Report), World Gold Trust Gold Mini (GLDM – Free Report), and others have enjoyed 4 consecutive trading days of upward movement. With this in mind, here’s a short, list of gold stocks to watch heading into the rest of the month. Though they can all be bought for under $4, are they good buys?
Gold Stocks To Buy [or ignore]: Platinum Group Metals
This was one of the more popular gold stocks to trade last week. In fact, Platinum Group (PTM – Free Report) (PLG) has been on the move since late December of last year. After closing a private placement, shares of Platinum began making a move higher and this past week, that trend continued after yet another big update from the company.
The company reported its financial results for its most recent quarter that ended in November. The biggest focus for Platinum is on its Waterberg Project in South Africa. Furthermore, the company has also been focused on streamlining operations, decreasing costs and becoming profitable.
Read More
- Best Gold Stocks To Buy Right Now? 1 Up 291% YTD
- Gold Stocks Set To Soar On New Chinese Tariffs?
- Gold Stocks Are Presenting A Huge Opportunity, Right Now!
In the quarter, the company realized a net gain of $0.55 million. This was compared to a net loss of more than $5.6 million during the same period in 2018. Platinum was also able to decrease its general and administrative expenses by nearly $300,000. Thanks to these strong results, shares of the company hit fresh 2020 highs of more than C$3.70. Though this week is a shortened week in the U.S., can this same momentum carry through?
Gold Stocks To Buy [or ignore]: Comstock Mining
Next on this list of gold stocks, Comstock Mining (LODE – Free Report) has been on the move since early December. At the time, shares of the company traded around $0.26 but since then, LODE stock has jumped to highs of $0.75 this past week.
As we discussed on Friday, Comstock has been pushing forward toward more growth in 2020. In fact, in its annual update, the company revealed several big milestones that could help it execute on the goal of growth. In an effort to streamline its business, Comstock has offloaded some of its properties. Specifically, the company sold 2 properties in Nevada along with water rights for just over $10 million.
In line with this, Comstock has furthered its strategy by stating that it will target high-value, cash-generating exploration, development, and production projects. Corrado De Gasperis, Executive Chairman and CEO stated, “Our realignment and transformation has repositioned the Company to first unlock unrealized shareholder value and then create and deliver new value from precious-metal-based innovations and developments, including our Dayton resource and the MCU joint venture.”
Gold Stocks To Buy [or ignore]: Trilogy Metals
One of the more interesting mining stocks to watch during the 4th quarter of 2019 was Trilogy Metals (TMQ – Free Report) (NYSE:TMQ). During the first week of October, shares traded around $2. However, since then we’ve seen 2 waves of momentum take it to highs of $3.61. Last week the Trilogy closed out at $3.27 after one of its biggest trading sessions of 2020.
[Read More] Gold Stocks To Watch In January; 1 Up 150% Since November
Similar to Comstock, Trilogy Metals also gave an update to the public on its latest project activities. First, the joint venture deal from December between the company and South 32 Limited has gone a step further as South32 exercised its option to buy a 50% interest in a JV company that will own mineral projects in Alaska.
The structure of the deal sees Trilogy committing resources while South32 will contribute roughly $145 million to the JV. In addition to this, the company also updated shareholders on its drilling highlights for its Arctic project.
“Trilogy Metals continues to progress its Arctic feasibility study which is being prepared by Ausenco Engineering Canada Inc. and John Wood Group PLC based on drill results and studies completed prior to formation of the Joint Venture. Trilogy Metals expects to release its Arctic feasibility study by the end of first half 2020, in advance of further work programs and studies planned to be completed by the Joint Venture.”