There is a constant pressure that can enhance the value of gold in the upcoming months. As an investor, you are surely looking to earn more profit. One of the main ways of investing in gold is to buy gold itself, and the other way is to invest in miners that extract gold and then sell it into markets at higher prices.
Gold stocks are tempting for growth investors, but they rise and fall with the price of gold. However, the latest technologies have enabled well-maintained mining companies that still make a profit when the price of gold is low. And of course, when there is a price increase, gold stocks get more importance.
List of Best Gold Stocks
Here is the list of popular gold stocks that give you a clear idea about the companies that have earned considerable profit from the gold stocks.
1. BHP Group Ltd. (BHP)
It is one of the largest mining companies, and it operates through headquarters in Australia. It expanded on a large scale where raw materials are available and extracted from undergrounds. It conducts exploration and development operations that use oil, coal, and gas. They primarily focus on mining copper, coal, zinc, silver, molybdenum, iron, and uranium.
BHP also plays a large part in gold mining. It is expected that inflationary trends are likely to increase its entire business. In addition, it offers multiple ways to capitalize and minimize certain risks.
2. Hecla Mining Company (NYSE: HL)
Established in 1891, Hecla Mining Company deals with gold, silver, and other metals mining processes. It is the second-largest silver extracting mining company. A higher fair value shows a neutral pick for value investors. It offered significant precious metal prices, however, there are considerable fluctuations in special metal prices. Investing in this company is considered advisable since it has strong fundamentals. It definitely has a high earning potential.
3. Franco-Nevada Corp. (FNV)
It is another large-scale gold mining company on a large with a market value of billions of dollars. It has a limited diversified portfolio of other metals that tends to rise in precious metal prices as well. However, it is energy inefficient, spending large amounts of oil and gas.
It can offer stability to some extent, but sometimes, prices get too high. To conclude, it has potential growth for a diversified portfolio that makes it stand out as one of the best gold stocks to purchase.
4. Newmont Corp. (NEM)
Another notable gold stock is Newmont Corp, which is worth billions of dollars. It is one of the most significant metal producers and has vast silver, copper, zinc, and lead mines, with extensive gold mining operations in different countries. At the end of 2020, it had 94.2 million ounces in gold reserves that ranged from 36,600 square miles of land. It is one of the biggest names in the world of gold mining, with top-listed gold stock to buy.
5. Wheaton Precious Metals Corp. (WPM)
It is also a $20 billion company that deals with precious metals. They earn a considerable income by selling their gold materials. It also has silver, cobalt, and palladium deposits. It conducts operations for two dozen mining assets, and it is continuously exploring more precious metals in upcoming years.
With its rising importance, its gold deposits are getting more value in the stock market.
Bottom Line
No doubt that the price of gold remains volatile in the short term, but it tends to maintain its value over longer time periods. In addition, valuable gold stocks have earned a considerable profit for many companies and helped them fight inflation. So, investing in gold stocks is worth considering. So, take your pick can out of the companies from the above list of best gold stocks and see the results for yourselves.
