5 Gold Stocks Soaring To New 12-Month Highs

These 5 gold stocks are hitting new 12-month highs. Buyers seem intent on a belief that inflation will continue to be a problem despite efforts by the Fed to keep it down. This week’s rise in Treasury yields suggests a disbelief among bond traders that it remains an issue.

Not all gold stocks are taking off — Newmont Mining
NEM
, for example, is price sluggish — but these names are definitely favorites right now among precious metals investors. Other factors besides inflation enter into it: location of mines, how productive are the operations, how sharp are the executive teams, etc.

The implication of Middle East unease is yet another factor affecting this market as some investors go to gold when fear arises, globally. “Inflation hedge” is probably an overused term but it seems to apply to this market.

5 Gold Stocks With New Highs.

Agnico Eagle.

The October 2023 low was $42 and now it goes for $61, a 7-month gain of 31% for those lucky — or smart — enough to buy the low and hold on. The Canadian-based gold miner has a market capitalization of $30.73 and trades with a price-earnings ratio of 15. Agnico Eagle pays a 2.59% dividend.

El Dorado Gold.

The October low as $8.25. The stock now trades for $15. That’s a 45% gain over the period. The straight-up quality during the month of March is awesome to behold with the price now well above both up trending 50-day and 200-day moving averages. Eldorado Gold is market capitalized at $3.05 billion. The p/e is 29.

Gold Fields.

From the October price of $10.25 to the current $16 amounts to a 35% drop from the low to the high. Market capitalization for the South African miner comes to $15 billion. The stock has a price-earnings ratio of 21. Gold Fields offers investors a dividend of 2.35%.

Iamgold.

Headquartered in Toronto, Ontario, Canada, this miner has a $1.78 market capitalization and trades with an 18 price-earnings ratio. The IAMGOLD price is at a 21% discount from its book value. The stock is up to $3.65 now from an October low of $2 for a nice 45% gain over the 7 months.

Seabridge.

Seabridge bottomed in mid to late February — not October like the other gold stocks mentioned here. The low was $9.50 and it now goes for $16, a quick 40% gain in 2 months. Market capitalization for the Canadian-based miner is $1.36 billion. The short float is greater the others here at 5.19%. If those shorts are ever forced to cover, it could fuel a greater rally.