Gold touched new highs on Thursday amid political uncertainties in Spain and tensions between North Korea and the US. Gold is considered as a safe-have asset. During times of uncertainty, investors turn to gold. If you are looking to invest in gold stocks, here are the best options you should consider.
Barrick Gold Corp (USA)(NYSE:ABX)
Barrick Gold Corp (USA)(NYSE:ABX) is one of the biggest gold stocks to buy. In 2016, the company produced a free cash flow of $1.5 billion. Barrick Gold is also an excellent gold stock for income investors. Last year, Barrick Gold increased its dividend by a whopping 42%. In the second quarter, Barrick’s earnings increased by 57% year over year. However, latest production report shows that Q3 results might miss analysts’ forecasts. Barrick Gold is attractively valued. The stock has a PE ratio of about 20.4, while industry average is 20.7.
Kirkland Lake Gold Ltd.(NYSE:KL)
Kirkland Lake Gold Ltd.(NYSE:KL) is a relatively unknown gold mining stock but it has been getting a lot of attention amid its new mines in Australia. Investors are bullish on Kirkland’s Fosterville mine in Australia, which produced a massive 77,000 ounces of gold in the second quarter. The grades level at this mine is of high quality.
Randgold Resources Ltd. (ADR)(NASDAQ:GOLD)
Randgold is the best gold stock to buy. Recently, Jim Cramer said in a program on CNBC that Randgold should be acquired on the back of the latest risks of North Korea war. The stock is already up over 28% since the start of this year. On October 19, Jefferies International reiterated their “Buy” rating for Randgold Resources Limited. The firm has a price target of $119.59 for the stock.
Goldcorp Inc. (USA) (NYSE:GG)
Goldcorp Inc. (USA) (NYSE:GG) is one of the best gold mining stocks. The stock is currently trading in the red, and should be bought on its weakness. The Canada-based company managed to improve its operating income and cut costs in the first quarter of 2017. The company is boosting production at its Eleonore and Cerro Negro mines. Goldcorp wants to expand its production and assets by 20% through 2022.
Yamana Gold Inc. (USA)(NYSE:AUY)
Yamana Gold Inc. (USA)(NYSE:AUY) is one of the cheapest gold stocks you can buy in 2017. The stock has underperformed mainly due to high expenses and rising debt levels. But a rebound is brewing at this gold company because its three new mines will become operational in 2018 and 2019. These mines were the reason behind rising expenses. The company is the owner of C1 Santa Luz mine which has an estimated life span of over 10 years and a production capacity of 114,000 ounces of gold per year.