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3 Gold Stocks And 1 Silver Stock are hitting new highs

ByVictoria

SPDR Gold Shares

It’s been having a good run: from the early June 2024 low of $212 to the present $264 amounts to a 19.7% return from then to now.

ASA Gold and Precious Metals

The South African-founded miner is now domiciled in Bermuda and has a market cap of $477 million. The price-earnings ratio is 7.61 and the stock trades at 1.12 times its book value. ASA in November 2024 paid a .16% dividend.

Franco Nevada

Headquartered in Toronto, the company has a market cap of $27 billion. This year’s earnings are down by 13.15%. Franco Nevada has no debt, long-term or otherwise.

Kinross Gold

This Canadian miner has a market cap of $14.51 billion. Earnings this year are up by 71%. The price-earnings ratio is 19.74. The debt-to-equity ratio is .26. Kinross Gold pays a dividend of 1.02%.

Discovery Silver

This is an OTC stock (also trades on The Toronto Stock Exchange) with an average daily volume of 237,000 shares. Market cap is $433 million. According to the company website, Discovery has “high quality gold producing assets in Canada” and “the world’s largest undeveloped silver deposit in Mexico.”

Source – Forbes

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    Pan American Silver’s shares down

    ByVictoria
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    Pan American Silver’s shares slumped Monday in the wake of the Canadian miner’s move to buy smaller producer MAG Silver in a cash-and-stock deal valued at about $2.1 billion.

    In morning trading, the shares were 14% lower at C$32.61 in Toronto and down 15% at $23.17 on the New York Stock Exchange. MAG Silver in contrast jumped 8.1% to C$25.49, widening its advance so far this year to 30%.

    The deal between the Vancouver, British Columbia, companies will bolster Pan American’s position as a silver-and-gold producer in the Americas and add a stake in a big producing silver mine in Mexico. The agreement comes after precious-metals prices have rallied this year, encouraging a number of mergers and acquisitions among mining companies.

    Source – Market Watch

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    Sacagawea gold coins may be produced by at the West Point Mint facilities

    ByVictoria
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    If the United States Mint moves forward with plans to produce a 24-karat gold Sacagawea dollar on the 25th anniversary of the series in 2025, it will be the first time the issue is produced in .9999 fine gold.

    The bureau is considering producing the gold dollars at the West Point Mint with the facility’s W Mint mark. Bureau officials have not disclosed what finish would be used for the 25th anniversary gold dollars nor any mintage limit.

    The proposed 25th anniversary Sacagawea gold dollar will feature the designs that appeared on coins released into general circulation in January 2000, bearing the so-called “13 tail feathers,” with the same inscriptions as originally featured on the 2000 coins, with no mention of gold weight or fineness.

    Source – Coin World

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    Freeport McMoRan mining raised at Jefferies

    ByVictoria
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    Freeport McMoRan (NYSE:FCX) trades little changed Thursday as Jefferies upgrades shares to Buy from Hold with a $48 price target, raised from $40, just one month after downgrading due to risks in Indonesia, a cautious view on copper, and the company’s near-term lack of free cash flow.

    If tariffs are implemented, Comex copper price premiums to the LME, which have been high already because of potential tariffs, likely will rise further, Jefferies analyst Christopher LaFemina says, noting Freeport (FCX) sells 1.35B lbs/year of copper at Comex prices and the current Comex premium to LME is ~$0.30/lb, and tariff-impacted imports would effectively set the Comex price since the U.S. cannot be self-sufficient in copper.

    Source – Seeking Alpha

    Jefferies – Jefferies Financial Group Inc. is an American multinational independent investment bank and financial services company headquartered in New York City.

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    Over a week low on Gold

    ByVictoria
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    Gold touched a more than one-week low on Thursday after a U.S. federal court blocked President Donald Trump’s “reciprocal tariffs”, dampening the metal’s safe-haven allure, while a robust dollar further pressured prices of the precious metal.

    Spot gold was down 0.5% at $3,273.37 an ounce, as of 0431 GMT, after hitting its lowest since May 20.

    But the gold market is still bullish as “longer term outlook suggests a weaker dollar and there’s still likely to be some inflationary pressures near term,” Frappell said.

    Spot silver rose 0.6% to $33.19 an ounce, platinum was up 0.6% to $1,080.90 and palladium edged 1.3% higher to $974.69.

    Source – Reuters

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    Riversgold secures 80% stake in Kalgoorlie Gold Project

    ByVictoria
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    Riversgold Ltd has exercised its option to acquire an 80% interest in the Kalgoorlie Gold Project’s Northern Zone in Western Australia after meeting the required A$600,000 minimum exploration expenditure.

    Exploration efforts have identified a significant blind porphyry gold system, with widths of up to 600 metres and mineralisation extending beyond 400 metres in depth.

    Source – Proactive Investors