Canada Markets closed
  • S&P/TSX

    20,101.38
    -389.63 (-1.90%)
     
  • S&P 500

    3,923.68
    -165.17 (-4.04%)
     
  • DOW

    31,490.07
    -1,164.52 (-3.57%)
     
  • CAD/USD

    0.7766
    +0.0006 (+0.0777%)
     
  • CRUDE OIL

    108.36
    -1.23 (-1.12%)
     
  • BTC-CAD

    37,150.54
    -2,406.46 (-6.08%)
     
  • CMC Crypto 200

    642.73
    -27.95 (-4.17%)
     
  • GOLD FUTURES

    1,813.10
    -2.80 (-0.15%)
     
  • RUSSELL 2000

    1,774.85
    -65.45 (-3.56%)
     
  • 10-Yr Bond

    2.8860
    -0.0820 (-2.76%)
     
  • NASDAQ futures

    11,844.25
    -91.25 (-0.76%)
     
  • VOLATILITY

    30.96
    +4.86 (+18.62%)
     
  • FTSE

    7,438.09
    -80.26 (-1.07%)
     
  • NIKKEI 225

    26,911.20
    0.00 (0.00%)
     
  • CAD/EUR

    0.7411
    -0.0002 (-0.03%)
     

2 Top Gold Miners to Buy This Winter

  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
Gold bullion on a chart
Gold bullion on a chart

Written by Chris MacDonald at The Motley Fool Canada

Gold bugs out there have had a difficult time in recent years. Despite negative real interest rates and high inflation, the price of gold hasn’t responded as many hoped it would. For those invested in gold miners, this situation is even more pronounced.

Gold miners provide additional leverage to the price of gold. Due to the high fixed costs of these price takers, higher gold prices translate directly into bottom-line performance. For investors, this is a good thing.

However, with the price of gold stagnating, many investors have looked away from this sector. For those still intrigued and looking for some top gold miners, here are two fantastic picks to consider right now.

Top gold miners: Equinox Gold

Equinox Gold (TSX:EQX)(NYSE:EQX) is a Vancouver-based organization with access to more than 30 million ounces of measured gold reserves, and 16.4 million ounces of proven reserves. The company has a significant presence in North and South America. This provides a geographically diverse and resource-rich portfolio of assets for investors.

Notably, Equinox’s new Greenstone mine is still under construction, with the anticipated opening date sometime in 2024. During the construction phase of this project, 2,000 jobs will be created. Once the mine is complete, 500 positions will be made available to operate this mine.

The company’s Greenstone mine and a range of diversified investments over various projects in recent years have allowed Equinox to put forward a projected output of one million ounces of gold per year. This company’s existing reserves, and the ability to acquire future reserves over time, provide for a bullish outlook for this top gold miner this coming year.

Agnico Eagle

Agnico Eagle (TSX:AEM)(NYSE:AEM) is another top-notch gold miner that has delivered impressive earnings growth and revenue. This gold sector behemoth is gearing up to merge with Kirkland Lake Gold. I believe this deal will be a lucrative one, particularly if the price of gold starts gaining momentum.

Indeed, the Kirkland Lake deal is hard to ignore. For Agnico Eagle, this acquisition was done at what I view as a dirt-cheap price. While Kirkland Lake shareholders may have gotten the raw end of the deal, the reality is that the combined entity will have newfound market power and economies of scale investors should like. Accordingly, I think Agnico Eagle is a solid pick right now.

As Agnico ramps up production and focuses on higher-grade production, this company’s margins should improve. I’m forecasting much higher gold prices over the medium term, and view Agnico Eagle as one of the best gold miners in this space right now.

The post 2 Top Gold Miners to Buy This Winter appeared first on The Motley Fool Canada.

Should you invest $1,000 in Air Canada right now?

Before you consider Air Canada, you may want to hear this.

Motley Fool Canadian Chief Investment Advisor, Iain Butler, and his Stock Advisor Canada team just revealed what they believe are the 10 best stocks for investors to buy right now... and Air Canada wasn't one of them.

The online investing service they've run since 2013, Motley Fool Stock Advisor Canada, has beaten the stock market by over 3X. And right now, they think there are 10 stocks that are better buys.

Learn More Today!

More reading

Fool contributor Chris MacDonald owns Kirkland Lake Gold Ltd. The Motley Fool has no position in any of the stocks mentioned.

2022

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting