Golden Opportunities: 3 Stocks to Buy as Gold Prices Reach New Heights

InvestorPlace04-19

Gold prices are hitting fresh record highs on strong central bank activity as well as increased geopolitical tensions. Royal Gold (RGLD): Its price hit an 11-month high recently as gold prices surged....

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Pick them up before the surge.","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0266512127.USD":"摩根大通环球自然资源 A(acc)","BK4504":"桥水持仓","RGLD":"皇家黄金","NEM":"纽曼矿业","LU0456854461.SGD":"JPMorgan Funds - Global Natural Resources A (acc) SGD","LU0498741890.SGD":"FTIF - Franklin Gold and Precious Metals A (acc) SGD","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","SG9999001143.SGD":"United Gold and General A Acc SGD","BK4017":"黄金","BK4127":"投资银行业与经纪业","LU0498741114.HKD":"FRANKLIN GOLD & PRECIOUS METALS \"A\" (HKD) ACC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU0106831901.USD":"贝莱德世界金融基金A2","BK4532":"文艺复兴科技持仓","LU1023059493.AUD":"Blackrock World Mining A2 AUD-H","BK4570":"地缘局势概念股","BK4585":"ETF&股票定投概念","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1223083913.SGD":"Schroder ISF Global Gold A Acc SGD-H","LU0055631609.USD":"贝莱德世界黄金基金A2","LU1223082196.USD":"施罗德环球黄金A Acc","LU0075056555.USD":"贝莱德世界矿业基金A2","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0368265764.SGD":"Blackrock World Gold Fund A2 SGD-H","GOLD":"巴里克黄金","BK4550":"红杉资本持仓","BK4588":"碎股","BK4552":"Archegos爆仓风波概念","LU0496367417.USD":"富兰克林黄金和贵金属A（acc）","LU0330918003.SGD":"Blackrock World Mining A2 SGD-H"},"translate_title":"黄金机会：随着金价达到新高，可以购买3只股票","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RGLD":1,"NEM":1,"GOLD":1},"content_text":"Gold prices are hitting fresh record highs on strong central bank activity as well as increased geopolitical tensions.\nRoyal Gold (RGLD): Its price hit an 11-month high recently as gold prices surged.\nNewmont (NEM): NEM completed its acquisition of Newcrest Mining to become the world’s leading gold company.\nBarrick Gold (GOLD): GOLD announced a new buyback program of up to $1 billion.\n\n\n\n\n\n \n\nSource: Alexander Limbach / Shutterstock\n\n\n\nGold prices have been enjoying a very strong surge over the past two months, defying earlier predictions of a cooldown and surpassing the psychologically important milestone of $2,000 an ounce. The rally has significantly impacted the performance of gold stocks, reflecting heightened investor interest in the sector.\nThe yellow metal experienced a significant drop in U.S. trade on Wednesday after consumer price index data revealed higher-than-expected inflation growth in March, contributing to a surge in the dollar to five-month highs. \nHowever, gold prices staged a recovery in the following days amid signs of ongoing economic weakness in China, which bolstered safe-haven demand for the precious metal. Moreover, the increased geopolitical tensions in the Middle East also pushed gold prices to fresh record highs. \nOverall, gold continues to attract safe-haven demand amid concerns about deteriorating economic conditions worldwide. Major central banks in Asia and other emerging markets have been increasing their gold holdings in recent months, with the People’s Bank Of China (OTCMKTS:BACHY) purchasing gold for the 17th consecutive month, reflecting heightened risk aversion. \nThis rally in gold prices has also prompted financial institutions like Goldman Sachs (NYSE:GS) to revise their outlooks, with the investment bank now forecasting even brighter days ahead for the precious metal. Goldman Sachs raised its forecast for gold prices, citing the metal’s relative stability despite stronger-than-expected U.S. CPI data this week. The bank noted that gold’s bull market is not being driven by the usual macroeconomic factors, leading to their decision to revise their forecast.\nMore precisely, Goldman Sachs upgraded its price forecast to $2,700 per ounce by year-end, compared to the previous expectation of $2,300 per ounce. These gold stocks will likely benefit from the potential surge.\nRoyal Gold (RGLD)\nSource: ShutterstockRoyal Gold (NASDAQ:RGLD) is a leading gold royalty company. With a diversified portfolio of assets worldwide, Royal Gold offers investors exposure to the gold mining sector without the operational risks associated with traditional mining companies.\nRoyal Gold announced last week that its subsidiary, RGLD Gold AG, sold about 49,500 gold equivalent ounces (GEOs) in the first quarter of 2024. That comprised approximately 38,100 ounces of gold, 635,000 ounces of silver and 1,100 tonnes of copper under its streaming agreements. \nThe subsidiary had an inventory of approximately 16,800 ounces of gold, 349,400 ounces of silver and 400 tonnes of copper as of March 31, 2024. During the first quarter, RGLD Gold AG realized average prices of $2,054 per ounce for gold, $23.22 per ounce for silver and $8,453 per tonne ($3.83 per pound) for copper. \nBack in February, Royal Gold reported net income of $239.4 million, or $3.64 per share, on revenue of $605.7 million and operating cash flow of $415.8 million. In the fourth quarter of 2023, the company reported net income of $62.8 million, or $0.95 per share, on revenue of $152.7 million and operating cash flow of $101.1 million.\nRoyal Gold shares are almost flat on the year.\nNewmont (NEM)\nSource: Piotr Swat/ShutterstockNewmont (NYSE:NEM), one of the best-performing gold stocks, is a leading gold mining company with operations and assets spanning several continents. Newmont offers a strong exposure to surging gold prices as it is one of the world’s largest gold producers.\nIn 2023, Newmont completed the acquisition of Newcrest Mining Limited, becoming the world’s leading gold company with robust copper optionality. The company delivered $1.4 billion in dividends and produced 5.5 million gold ounces and 891 thousand GEOs last year.\nLooking ahead to 2024, Newmont said it aims to focus on its Tier 1 Portfolio, comprising eleven managed Tier 1 and Emerging Tier 1 assets and three non-managed operations. The company also said it remains on track to achieve $500 million in synergies related to the Newcrest transaction by the end of 2025.\nNewmont stock is down about 7% on the year.\nBarrick Gold (GOLD)\nSource: madamF / Shutterstock.comBarrick Gold (NYSE:GOLD) is a leading gold mining company headquartered in Toronto, Canada. Barrick Gold is known for its large-scale gold production, one of the key reasons why investors see GOLD as one of the top gold stocks to own.\nBarrick Gold reported adjusted fourth-quarter profit that topped analyst expectations. Free cash flow totaled $136 million, compared to negative $96 million the previous year. For the year, Barrick forecasts gold production between 3.90 million and 4.30 million ounces, with all-in sustaining costs per ounce ranging from $1,320 to $1,420. \nBarrick maintained its dividend at 10 cents per share and introduced a new share buyback program. The board authorized a buyback program of up to $1 billion, reflecting the company’s confidence in its financial position and commitment to delivering value to shareholders.\nThe GOLD stock is nearly flat on the year.\nOn the date of publication, Shane Neagle did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nShane Neagle is fascinated by the ways in which technology is poised to disrupt investing. He specializes in fundamental analysis and growth investing.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/04/golden-opportunities-3-stocks-to-buy-as-gold-prices-reach-new-heights/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428547562"}