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Top Gold Stocks for June 2021

Gold has long been regarded as a safe haven in times of market turmoil. Many investors have gained exposure to the precious metal by buying stocks of companies engaged in exploration and mining. Some of the major players in the gold industry include Canada-based Franco Nevada Corp. (FNV), Newmont Corp. (NEM), and Australia-based Newcrest Mining Ltd. (NCM).

Gold stocks, as represented by the VanEck Vectors Gold Miners ETF (GDX), have underperformed the broader market over the past year. GDX has provided a total return of 11.8% over the past 12 months, well below the iShares Russell 1000 ETF’s (IWB) total return of 46.2%. These market performance numbers and all statistics in the tables below are as of May 25, 2021.

Here are the top 5 gold stocks with the best value, the fastest growth, and the most momentum.

Value investing is a factor-based investing strategy that involves picking stocks that you believe are trading for less than what they are intrinsically worth, usually by measuring the ratio of the stock’s price to one or more fundamental business metrics. A widely accepted value metric is the price-to-earnings (P/E) ratio. Value investors believe that if a business is cheap compared to its intrinsic value, in this case as measured by its P/E ratio, the stock price may rise faster than others as the price comes back in line with the worth of the company. These are the stocks with the lowest 12-month trailing P/E ratio.

Best Value Gold Stocks
  Price ($) Market Cap ($B) 12-Month Trailing P/E Ratio
Centerra Gold Inc. (
CG.TO)
CA$9.84 CA$2.9 4.1
Jaguar Mining Inc. (
JAG.TO)
CA$6.74 CA$0.5 5.4
Torex Gold Resources Inc. (
TXG.TO)
CA$18.09 CA$1.6 5.7
Karora Resources Inc. (
KRR.TO)
CA$4.31 CA$0.6 6.7
Kinross Gold Corp. (
K.TO)
CA$9.69 CA$12.2 6.8

Source: YCharts

  • Centerra Gold Inc.: Centerra Gold is a Canada-based gold mining and exploration company. It engages in the operation, exploration, development, and acquisition of gold properties in North America, Asia, and other global markets. The company operates three mines: the Mount Milligan Mine in Canada; the Kumtor Mine in the Kyrgyz Republic; and the Öksüt Mine in Turkey. Centerra produced 824,059 ounces of gold and 82.8 million pounds of copper in 2020. Centerra also has shares that trade in the U.S. on the New York Stock Exchange (NYSE) under the ticker symbol CGAU. On May 17, Centerra announced that the Kyrgyz Government had effectively taken control of the Kumtor Mine in mid-May. The company is no longer in control of the mine and has urged the Kyrgyz government to ensure the safety of all mine employees. It also suspended previously issued guidance for 2021. On May 20, Centerra initiated legal proceedings against a former board member for an alleged breach of fiduciary duty to the company related to the mine seizure.
  • Jaguar Mining Inc.: Jaguar is a Canada-based mining company that explores and develops gold properties. The company operates in the Iron Quadrangle, a prolific greenstone belt located in Minas Gerais, Brazil. It has been an area of mineral exploration dating back to the 16th century. Jaguar’s gold mining operations include the Turmalina mining complex and the Caeté mining complex. The company also has shares that trade over-the-counter (OTC) in the U.S. under the ticker symbol JAGGF.
  • Torex Gold Resources Inc.: Torex Gold Resources is a Canada-based intermediate gold producer. It engages in the exploration, development, and operation of its 100% owned Morelos Gold Property, which is comprised of 29,000 hectares in the Guerrero Gold Belt in Mexico. The company’s principal assets include: the El Limon Guajes Mine Complex, comprised of open pit and underground mines; and the Media Luna Project, an advanced stage development project. Torex also has shares that trade OTC in the U.S. under the ticker symbol TORXF.
  • Karora Resources Inc.: Karora Resources is a Canada-based, multi-asset mineral resource company primarily focused on the acquisition, exploration, evaluation, and development of precious metal properties. The company’s two primary gold-producing operations are its Beta Hunt Mine and the Higginsville Gold Operations. Both operations are located in Australia along the Norseman-Wiluna Greenstone Belt. Karora also has shares that trade OTC in the U.S. under the ticker symbol KRRGF. The company announced in early May financial results for Q1 of its 2021 fiscal year (FY), which ended March 31, 2021. Net earnings rose more than ten-fold as revenue grew 9.2% compared to the year-ago quarter.
  • Kinross Gold Corp.: Kinross Gold is a Canada-based gold mining company with a diverse portfolio of mines and projects in the U.S., Brazil, Chile, Ghana, Mauritania, and Russia. The company employs approximately 9,000 people globally and projects that it will produce 2.4 million gold equivalent ounces in 2021. Kinross also has shares that trade in the U.S. on the NYSE under the ticker symbol KGC. The company recently announced financial results for Q1 FY 2021, which ended March 31, 2021. Net earnings rose 21% as revenue grew 12.1% compared to the year-ago quarter.

These are the top gold stocks as ranked by a growth model that scores companies based on a 50/50 weighting of their most recent quarterly year-over-year (YOY) percentage revenue growth and their most recent quarterly YOY earnings per share (EPS) growth. Both sales and earnings are critical factors in the success of a company. Therefore ranking companies by only one growth metric makes a ranking susceptible to the accounting anomalies of that quarter (such as changes in tax law or restructuring costs) that may make one or the other figure unrepresentative of the business in general. Companies with quarterly EPS or revenue growth of over 2,500% were excluded as outliers.

Fastest Growing Gold Stocks
  Price ($) Market Cap ($B) EPS Growth (%) Revenue Growth (%)
Karora Resources Inc. (KRR.TO) CA$4.31 CA$0.6 920.1 9.2
Lundin Gold Inc. (
LUG.TO)
CA$12.35 CA$2.9 N/A (See Company Description) 258.3
Centerra Gold Inc. (CG.TO) CA$9.84 CA$2.9 764.8 0.1
Endeavour Mining Corp. (
EDV.TO)
CA$28.42 CA$7.2 69.0 165.0
Equinox Gold Corp. (
EQX.TO)
CA$11.10 CA$3.3 230.2 66.7

Source: YCharts

  • Karora Resources Inc.: See above for company description.
  • Lundin Gold Inc.: Lundin Gold is a Canada-based mining company. It owns the underground Fruta del Norte gold mine in Ecuador, a multi-million-ounce, high grade gold asset. First gold production at the mine began in November 2019 and the company expects to produce an average of 340,000 ounces of gold per year. The company also has shares that trade OTC in the U.S. under the ticker FTMNF. Lundin’s earnings went from negative in the year-ago quarter to positive in its most recent quarter. Therefore we cannot calculate the EPS growth rate in the table above.
  • Centerra Gold Inc.: See above for company description.
  • Endeavour Mining Corp.: Endeavour Mining is a global gold producer with its main headquarters in the Cayman Islands. It operates seven producing assets: Ity Mine in Côte d’Ivoire, Sabodala-Massawa mine in Senegal; and 5 mines in Burkina Faso. The company also has shares that trade OTC in the U.S. under the ticker EDVMF.
  • Equinox Gold Corp.: Equinox Gold is a Canada-based, multi-asset mining company that operates entirely within the Americas. The company has seven operating gold mines and four growth projects throughout Canada, the United States, Mexico, and Brazil. It is poised to achieve annual gold production of one million ounces. Equinox also has shares that trade in the U.S. on the NYSE Arca exchange under the ticker symbol EQX. The company announced in early April that it completed its acquisition of Premier Gold Mines Ltd., adding new mining projects in Canada and Mexico to its portfolio. Premier’s gold projects in the U.S. were spun-out into a new company called i-80 Gold Corp that holds Premier’ Nevada gold assets. Equinox owns 30% of i-80.

Momentum investing is a factor-based investing strategy that involves investing in a stock whose price has risen faster than the market as a whole. Momentum investors believe that stocks that have outperformed the market will often continue to do so because the factors that caused them to outperform will not suddenly disappear. In addition, other investors, seeking to benefit from the stock’s outperformance, will often purchase the stock, further bidding its price higher and pushing the stock higher still. These are the stocks that had the highest total return over the last 12 months.

Gold Stocks with the Most Momentum
  Price ($) Market Cap ($B) 12-Month Trailing Total Return (%)
Hecla Mining Co. (
HL)
8.87 4.8 166.1
Sibanye-Stillwater Ltd. (SBSW) 18.20 13.5 143.7
K92 Mining Inc. (
KNT.TO)
CA$8.45 CA$1.9 108.1
Orezone Gold Corp. (
ORE.V)
CA$1.35 CA$0.4 104.5
Coeur Mining Inc. (
CDE)
10.25 2.6 86.0
iShares Russell 1000 ETF (IWB) N/A N/A 46.2
VanEck Vectors Gold Miners ETF (GDX) N/A N/A 11.8

Source: YCharts

  • Hecla Mining Co.: Hecla Mining is a precious metals company engaged in the discovery, acquisition, development, and production of gold, silver, and associated base metals. The company is the largest silver producer in the U.S. It operates the Greens Creek and Lucky Friday mines in the U.S., and the Casa Berardi mine in Canada. The company also owns a number of exploration and pre-development projects throughout North America. Hecla announced in early May financial results for Q1 FY 2021, which ended March 31, 2021. The company reported net income of $19.0 million, a significant turnaround from a net loss in the year-ago quarter. Product sales rose 54.0%.
  • Sibanye-Stillwater Ltd.: Sibanye-Stillwater is a South Africa-based producer of precious metals. The company develops and extracts mineral properties. Its diverse portfolio includes platinum metal operations in the U.S. and South Africa, gold operations and projects in South Africa, and copper, gold, and platinum metal exploration properties in North and South America. The company is the largest primary producer of platinum, the second-largest primary producer of palladium, and ranks third among global gold producers on a gold-equivalent basis. On April 22, 2021, Sibanye-Stillwater announced a series of changes to senior leadership positions, including the appointment of Themba Nkosi as chief social performance officer (CSPO) and Lerato Legong as chief legal officer (CLO). These changes follow the previously announced appointments of Richard Stewart to the role of chief operating officer (COO) and Robert van Niekerk as chief technology officer (CTO).
  • K92 Mining Inc.: K92 Mining is a Canada-based precious metals producer. The company owns and operates the high-grade, low-cost underground Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea. K92 also engages in exploration projects near its mine and in other parts of the region and has shares that trade OTC in the U.S. under the ticker symbol KNTNF.
  • Orezone Gold Corp.: Orezone Gold is a Canada-based development company with a 90% ownership interest in Bomboré, one of the largest undeveloped gold deposits in Burkina Faso. Bomboré is expected to yield 1.6 million ounces of gold over its 13+ mine-life. Orezone plans to begin production soon with the first gold expected to be poured in the third quarter of 2022. The company also has shares that trade OTC in the U.S. under the ticker symbol ORZCF.
  • Coeur Mining Inc.: Coeur Mining is a diversified precious metals producer with five operations throughout North America. Its operations include: the Palmarejo silver-gold complex in Mexico; the Rochester silver-gold mine in Nevada; the Kensington gold mine in Alaska; the Wharf gold mine in South Dakota; and the Silvertip silver-zinc-lead mine in Canada. The company also owns interests in a number of precious metals exploration projects.

The comments, opinions, and analyses expressed herein are for informational purposes only and should not be considered individual investment advice or recommendations to invest in any security or to adopt any investment strategy. While we believe the information provided herein is reliable, we do not warrant its accuracy or completeness. The views and strategies described on our content may not be suitable for all investors. Because market and economic conditions are subject to rapid change, all comments, opinions, and analyses contained within our content are rendered as of the date of the posting and may change without notice. The material is not intended as a complete analysis of every material fact regarding any country, region, market, industry, investment, or strategy.

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  3. Centerra Gold Inc. “Quick Facts.” Accessed May 26, 2021.

  4. Centerra Gold Inc. “Centerra Gold Responds to Latest Developments in the Kyrgyz Republic,” Pages 1 & 2. Accessed May 26, 2021.

  5. Centerra Gold Inc. “Centerra Gold Announces Proceedings Against Former Board Director Tengiz Bolturuk,” Page 1. Accessed May 26, 2021.

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  7. Jaguar Mining Inc. “Overview of Operations.” Accessed May 26, 2021.

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  9. Torex Gold Resources Inc. “Assets.” Accessed May 26, 2021.

  10. Karora Resources Inc. “Home.” Accessed May 26, 2021.

  11. Karora Resources Inc. “Overview.” Accessed May 26, 2021.

  12. Karora Resources Inc. “Karora Delivers Strong Start To Year With First Quarter 2021 Adjusted Earnings Of $0.06 Per Share, Adjusted EBITDA Of $0.15 Per Share As Operations Continue To Deliver In Line With 2021 Guidance And Phase I Mill Expansion Tracks Ahead Of Schedule.” Accessed May 26, 2021.

  13. Kinross Gold Corp. “About Us.” Accessed May 26, 2021.

  14. Kinross Gold Corp. “Operations.” Accessed May 26, 2021.

  15. Kinross Gold Corp. “Kinross reports 2021 first-quarter results.” Accessed May 26, 2021.

  16. Lundin Gold Inc. “About Lundin Gold.” Accessed May 26, 2021.

  17. Lundin Gold Inc. “Fruta del Norte Project.” Accessed May 26, 2021.

  18. Endeavour Mining Corp. “Our Assets.” Accessed May 26, 2021.

  19. Equinox Gold Corp. “Operations: Overview.” Accessed May 26, 2021.

  20. Equinox Gold Corp. “Company Profile.” Accessed May 26, 2021.

  21. Equinox Gold Corp. “Equinox Gold Completes Acquisition of Premier Gold Mines, i-80 Gold Created.” Accessed May 26, 2021.

  22. Hecla Mining Co. “About Us.” Accessed May 26, 2021.

  23. Hecla Mining Co. “Hecla Reports First Quarter 2021 Results.” Accessed May 26, 2021.

  24. Sibanye-Stillwater Ltd. “About Us.” Accessed May 26, 2021.

  25. Sibanye-Stillwater Ltd. “Our Business.” Accessed May 26, 2021.

  26. Sibanye-Stillwater Ltd. “Changes and Appointments to Sibanye-Stillwater Senior Leadership,” Page 1. Accessed May 26, 2021.

  27. K92 Mining Inc. “Home.” Accessed May 26, 2021.

  28. K92 Mining Inc. “About K92.” Accessed May 26, 2021.

  29. Orezone Gold Corp. “Company: Overview.” Accessed May 26, 2021.

  30. Orezone Gold Corp. “Home Page.” Accessed May 26, 2021.

  31. Coeur Mining Inc. “Home Page.” Accessed May 26, 2021.

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