Gold stocks to watch

Barrick Gold, a Canadian company that has headquarters in Toronto, is one of the largest gold mining companies in the world, previously sitting at the top spot before 2018. It is estimated to produce approximately 141 tonnes of gold each year. The company has 16 operating sites across 13 countries, including Argentina, Côte d'Ivoire, Saudi Arabia, Tanzania and the US. Barrick Gold has a number of subsidiary companies, such as Acacia Mining and Nevada Gold Mines, which is a joint venture between Barrick and Newmont Corporation. It is listed on both the Toronto Stock Exchange and New York Stock Exchange.

Franco-Nevada is also based in Toronto, Canada, and is a leader in precious metals streaming and royalty. The company holds a diverse portfolio of gold, silver and other precious metals, as well as oil and gas, although around 80% of its revenue comes from gold-equivalent ounces. Unlike the other companies on this list, Franco-Nevada does not carry out exploration, develop its own projects, or operate mines, instead investing in others located across the US, Canada and Australia. The company pays a healthy dividend and has reported debt-free balance sheets in 2021, which is uncommon for the gold mining industry. Franco-Nevada is listed on the TSX.

This Colorado-based company currently ranks first in the world as a gold producer and supplier. In 2019, Newmont Mining acquired Canadian company Goldcorp, which was one of the world’s largest producers of gold at the time, merging the two companies together to become a leader. It has mining operations across five continents, amounting to approximately 180 tonnes each year. In 2020, Newmont produced over 5.9m attributable ounces of gold and over 1m more from the sale of by-products. Its mines are located in Nevada, Colorado, Mexico, Canada, Ghana, Peru and Suriname, to name a few. Newmont Corporation is listed on the NYSE and is also one of our silver stocks​ to watch.

Eldorado Gold is a Canadian gold mining company that engages in the mining, development and exploration of gold and other base metals. It operates in countries such as Brazil, Canada, Greece, Romania and Turkey. Out of its total of five mines, operations in Turkey provide the majority of annual revenue for the company. Eldorado aims to produce around 430,000-460,000 ounces of gold each year, having jumped 34% in production in 2020 to 528,874 ounces. Eldorado is listed on the TSX and NYSE.

One of Russia’s major gold mining companies, Petropavlovsk is headquartered in London and operates across Russia’s Far East. The company has advancements in gold production, reserves and resources, with the aim of offering a responsible and low-cost output of gold. Its principal assets include four hard-rock gold mines in the Amur region, which have collectively produced over 7.8m ounces of gold. In 2020, Petropavlovsk increased gold production by 6%, when compared with the previous year. It also engages in silver production. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 stock index.

Newcrest Mining is an Australian company that reportedly has the largest group gold ore reserves in the world. The mining company focuses on the exploration, development and sale of gold and gold-copper concentrate across a number of countries, including Australia, Canada, Indonesia and Papua New Guinea. In 2010, Newcrest merged with Lihir Gold to become the world’s fifth-largest gold producer, with a combined production of 2.8m ounces. Newcrest’s cash and operating costs are consistently kept below the industry average, leaving more room for the company to profit. It is listed on the Australian Securities Exchange.

Toronto-based Kinross Gold operates eight active gold mines across the Americas, West Africa and Russia. The company produced around 2.4m gold-equivalent ounces in 2020 and holds over 30m ounces of gold reserves in total, as well as 59m ounces of silver. Historically, the company has used acquisitions to drive expansion and growth in more regions, with a number of subsidiaries such as Red Back Mining, Fairbanks Gold Mining and EastWest Gold Corporation. Kinross’ gold production is expected to grow by 20% before 2023, and annual revenue also increased by 20% between 2019 and 2020. Kinross is listed on the NYSE.

Centamin is a multinational mineral exploration, development and mining company with headquarters in Jersey. It focuses on the Arabian-Nubian Shield in particular, which is an exposure of crystalline rocks on each side of the Red Sea. Centamin operates mines in Egypt, Jordan, Israel, Saudi Arabia and Somalia, its most famous being the Sukari Gold Mine. It also owns exploration and development assets in Burkina Faso and Côte d'Ivoire. The company has a number of subsidiaries within the surrounding regions. Centamin’s revenue increased by 27% in 2020 when compared to the previous year. It is listed on the LSE.

Sibanye-Stillwater is a multinational precious metals company that operates in South Africa and the US. It is the world’s third-largest producer of gold, as well as the largest producer of platinum and second-largest producer of palladium. The company owns and operates five underground and surface gold operations in South Africa, where gold doré is produced. It is then refined and sold on international markets by global gold refiner, Rand Refinery, in which Sibanye holds a 44% interest. The company is listed on the Johannesburg Stock Exchange and the NYSE.