KGC - Gold Stocks To Watch For March 2020
Are These Gold Stocks On Your Radar Right Now?
The coronavirus scare has created turmoil in the markets yet again, andconsequently, the price of the goal is soaring as investors look for saferassets. Back in January, the precious metal was trading at $1,321 an ounce, butrecently, it went past the $1,600 an ounce barrier to hits its highest level inseven years.
In such a situation, it is worthwhile to consider whether investments in gold stocks are going to be profitable. To that end, here is a look at four gold stocks to watch heading into March.
Gold Stocks To Watch: IMC International Mining
While a number of gold stocks have consolidated over the last few days, IMC International Mining (IMCX – Free Report)(IMIMF) has upheld its trend. Though it hasn’t made new highs, it also hasn’t fallen prey to the market’s sell-off. So as most junior mining stocks are in recovery mode, IMC has maintained its trend between $0.38CAD and $0.44CAD.
Something that could be in focus is the recent updates coming from the company regarding new opportunities in British Columbia as well as additional leadership changes. First, the company announced a letter of intent to acquire Thane Minerals, who owns 100% of the Cathedral property in B.C. The location is knowns for its rich mineralization and host to past and planned production of 50 billion pounds of copper, 28 million ounces of gold, and has 16 producing and development projects.
The company also plans to bring on 50 industry vet, Greg Hawkins to its board. Hawkins would effectively join the company’s newly appointed CFO, David Charlton. Specifically, Hawkins was the Founding Project Consultant and/or Founding Director of seven public and private Exploration/Development ventures. Some of these ventures resulted in significant acquisitions by larget mining companies.
Gold Stocks To Watch: Iamgold Corp
The next gold stock that could be tracked by investors is that of Iamgold Corp. (IAG – Free Report). It made an important announcement last week. On February 19, the company announced an adjusted net loss of $0.6 million in the fourth quarter, which works out to 0 cents a share. It is a significant improvement from the $16.1 million loss it reported in the year-ago period.
Revenues for the period stood at $293.4 million, which was $19.1 million higher than the revenues in the prior-year period. It is a strong performance from the company. Even after the pullback this week, shares of IAMGOLD managed to bounce back from lows of $2.59 to levels above $2.70. Can this trend continue into the new month ahead?
Gold Stocks To Watch: Yamana Gold
On the other hand, Yamana Gold (AUY – Free Report) has also emerged as another stock to keep an eye on in light of recent developments. Earlier this week, the company announced the launch of a new precious metals royalty company in collaboration with Orion Resource Partners. Yamana is going to include assets from South America, Africa, North America, and Australia. Yamana Gold’s royalty was bought by Guerrero Ventures for $65 million.
Additionally, the company explained several benefits from the deal. Specifically, “As a founding shareholder, Yamana stands to benefit from participation in the new company, a pure-play precious metals royalty company that has significant potential upside through mineral resource expansions and mine life extensions.”
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While the stock has pulled back with other gold stocks, Yamana managed to also bounce back from lows. After giving up all of its 2020 gains, Yamana gold stock bounced back a few percentage points by Friday afternoon. Whether or not this uptrend will continue is yet to be seen. However, given the growing economic concern over things like coronavirus, it may be one of the gold stocks to watch in March.
Gold Stocks To Watch: Kinross Gold
Kinross Gold Corporation (KGC – Free Report) has emerged as another gold stock to watch. This came after the company beat profit estimates in its latest quarterly report published earlier on in February. Kinross Gold produced record output at its Tasiast mine and its performance was also greatly boosted by higher gold prices. Hence, there could be indications that a further rise in the price of gold could be beneficial for the company.
Its exploration program, co-backed by Agnico Eagle (AEM – Free Report) Mines for White Gold Corp has also received attention. Earlier this month, White Gold reported positive RC drill results on its recently acquired VG Deposit.
White Gold’s CEO, David D’Onofrio said, “This property has seen very limited exploration to date and we are confident that our team is well positioned to maximize the value of the VG deposit and the several other highly prospective and untested new targets on the property through leveraging our innovative data driven exploration methodologies.”
GoldStocks.com is owned and operated by Midam Ventures, LLC. Pursuant to an agreement between Midam Ventures LLC and IMC International Mining Corp.(CSE: IMCX) (IMIMF), Midam has been paid $200,000 for a period from January 7, 2020, to February 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to March 14, 2020. We may buy or sell additional shares of IMC International Mining Corp.(CSE: IMCX) (IMIMF) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about IMC International Mining Corp. (CSE: IMCX) (IMIMF). Click Here For Full Disclaimer.
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