Best Gold Mining Stocks to Watch Right Now

October 27, 2021 18:56 UTC
Reading time: 11 minutes

During the pandemic, central banks bought more gold than they have done in the previous five years. This led to a surge in the share price of gold mining stocks.  

Most investors are currently worried about high inflation as the economy opens up around the world. Gold is seen as a hedge against inflation which, in turn, makes gold stocks very interesting right now.  

But what are the best gold mining stocks to watch right now? How do you invest in the top gold mining stocks with low commissions and what are the long term forecasts of gold mining companies stock prices? 

We answer all of these questions and more in this ‘Best Gold Mining Stocks to Watch Right Now’ guide.  

Best Gold Mining Stocks List 

Looking for a list of gold and silver mining stocks to consider investing in? Then start with some of the biggest players in the industry that are well diversified. The metals sector can be volatile so it’s important to choose any investment wisely. 

Below is a list of the top five biggest gold stocks listed on the world’s biggest stock exchanges and available to invest in via Admirals: 

  1. Newmont Mining – Largest Gold Mining Company in the World 
  2. Barrick Gold – Gold & Copper Mining Company with 16 Global Sites 
  3. Freeport-McMoRan - Owner of the World’s Largest & Most Profitable Gold Mine 
  4. Newcrest Mining - Australia’s Leading Gold Mining Company 

The gold mining stocks listed above represent some of the biggest in the world. Junior gold mining stocks are not included in the list as they can be extremely volatile. To gain exposure to this sector you could focus on junior gold mining ETFs (exchange traded funds) which are available via Admirals.  

In fact, with the Admirals Invest.MT5 account you can access a huge list of gold and silver mining stocks and ETFs to invest in, along with the following features: 

✔️ Low minimum account opening of just €1.  

✔️ Low commission on US stocks of just $0.02 per share and only 0.1% on UK stocks.  

✔️ Low minimum transaction costs of just $1, £1 or €1 - ideal for small account holders.  

✔️ Invest in stocks and ETFs from 15 of the largest stock exchanges in the world. 

✔️ Access premium analytical tools, exclusive research reports and a state of the art platform. 

Invest in the world’s top instruments

Thousands of stocks and ETFs at your fingertips

START INVESTING

 

Best Gold Mining Stocks Forecast & Research 

In this section, we go through the best gold mining stocks to watch right now in more detail. It’s always good to do as much research as possible before you start investing so you know the potential risks.  

This list serves as a great starting point to build upon to see if any of the best gold mining stocks are suitable for your own portfolio and risk tolerance.

You can also use the Technical Insight Lookup indicator tool in the Premium Analytics section to provide you with actionable trading ideas on these stocks once you open a trading account.  

Research is important as the ‘best’ stock is relative (as every investor is different) and it can only be truly known after the event. The key is to try and put the probabilities in your favour but to use a strong risk management process to manage any losses. 

1. Newmont Mining – Largest Gold Mining Company in the World 

Newmont Mining merged with Canada’s Goldcorp in 2019 creating the world’s largest gold mining company with nearly $12 billion in yearly revenue. It is the only company in the US stock market's S&P 500 index which is an index of the largest 500 stocks by market cap listed on the New York Stock Exchange.  

While the company is based in Colorado, it operates gold mines based in Colorado, Nevada, Quebec, Ontario, Argentina, Peru, Australia and many other countries. The company also mines other metals such as silver, copper, lead and zinc.  

Source: Admirals MetaTrader 5, NEM, Weekly - Data range: from 11 Nov 2018 to 27 Oct 2021, performed on 27 Oct 2021, at 8:30 am GMT. Please note: Past performance is not a reliable indicator of future results.  

The weekly price chart of Newmont’s share price above shows a long-term range has developed since the middle of 2020. Price is currently approaching the bottom of the trading range around $52.00. This could be an area where buyers may try to stage another rally higher.  

2. Barrick Gold – Gold & Copper Mining Company with 16 Global Sites 

Barrick Gold was the world’s largest gold mining company for many years until the Newmont Mining and Goldcorp merger. The company is now the world’s second-largest gold mining company producing between four and five million ounces of gold last year.  

There are 16 operating sites in Barrick Gold’s portfolio which are based all around the world. Barrick Gold doesn’t only produce gold but it also produces. The company was brought to the forefront last year when legendary investor Warren Buffett announced it purchased $562 million of the gold stock during the pandemic.  

Source: Admirals MetaTrader 5, ABX, Weekly - Data range: from 11 Nov 2018 to 27 Oct 2021, performed on 27 Oct 2021, at 8:30 am GMT. Please note: Past performance is not a reliable indicator of future results. 

Barrick Gold stock trades on the New York Stock Exchange and the Toronto Stock Exchange. Since the middle of 2020, the stock price has been in a long decline. Gold lost its shine as loose monetary policy from central banks helped to lift the stock market to record highs.  

However, the share price was rising for several years before the pandemic closed down some of its mines. The move lower has created a descending trend line. If the price can break through this, it is a sign of strength and the potential for a move higher.  

3. Freeport-McMoRan - Owner of the World’s Largest & Most Profitable Gold Mine 

Freeport-McMoRan is the owner of the Grasberg Mine in Papua, Indonesia. This is the largest and most profitable gold mine in the world. However, the mining company is also one of the largest producers of copper and molybdenum (used to create high strength steel alloys).  

Most of the recent revenue from the company has been from the sale of copper. This is in line with most mining companies. China has been a big purchaser of copper in recent years as it builds its economy. It’s one reason the company’s share price has remained resilient compared to other gold stocks.  

Source: Admirals MetaTrader 5, FCX, Weekly - Data range: from 7 Jan 2018 to 27 Oct 2021, performed on 27 Oct 2021, at 8:30 am GMT. Please note: Past performance is not a reliable indicator of future results. 

The Freeport-McMoRan share price chart above shows a long term bullish move from March 2020 to its peak in March 2021. Since then, the price has retraced to support around $31. 

Buyers have already stepped in at this price level. Investors will be looking for more clues on a potential uptrend forming through technical analysis patterns such as higher high and higher low cycle formations.  

4. Newcrest Mining - Australia’s Leading Gold Mining Company 

Newcrest Mining is an Australian based gold mining company. The company was actually a subsidiary of Newmont Mining before being spun off into a separate entity. Their mining operations are based in Australia, Papa New Guinea and the Ivory Coast.  

Source: Admirals MetaTrader 5, NCM.AU, Monthly - Data range: from 1 Oct 1990 to 27 Oct 2021, performed on 27 Oct 2021, at 8:30 am GMT. Please note: Past performance is not a reliable indicator of future results. 

The long-term share price of Newcrest Mining shows a rocky ride from 2010 and 2014. However, before this period and after this period the gold stock has exhibited some bullish uptrend characteristics.  

Currently, the share price is hovering a long-term ascending trend line. If the price can stay above here it could represent further upside for the stock. However, a break below this trend line could see a new downtrend begin.  

Free analytical tools

Tap into a wealth of exclusive resources at the touch of a button

LEARN MORE

 

How to Invest in Gold Stocks 

To start investing you first need to open a live trading account or a free demo trading account. Once this has been done, you can follow the step by step process outlined below to invest in the best gold mining stocks of your choice.  

1. Login to the Trader’s Room from the Admirals website. From here, you can manage all of your trading and investing accounts, download different trading platforms, access the Admirals Wallet and premium analytical tools.  

2. Click on the Trade icon next to one of your accounts. This will automatically open the MetaTrader 5 web trader platform so you can start investing without needing to download a desktop platform.  

3. Type in the stock you wish to invest in where the + icon is at the bottom of the Market Watch window on the left of the web platforms.  

4. Drag the symbol of the stock you want to invest in from the Market Watch window to the chart to view the live share price. You can right-click and select Trading – New Order to open a trading ticket.  

Source: Admirals MetaTrader 5 Web Platform 

The trading ticket will allow you to input your position size, set a stop loss and take profit level.  

Why Invest in Gold Mining Stocks with Admirals? 

✔️ Admirals is authorised and regulated by the FCA, CySEC, ASIC and others.   

✔️ Open an Invest.MT5 account to invest in real stocks and ETFs to build a long-term portfolio and a passive stream of income through dividend investing!  

✔️ Invest in stocks and ETFs from 15 of the largest stock exchanges in the world from just 0.02 USD per share on US stocks and 0.1% commission on UK stocks!  

✔️ Access state of the art Premium Analytics tools such as the Technical Insight Lookup indicator which finds actionable trading and investing ideas for you.   

Click on the banner below to get started! ▼▼▼ 

Invest in the world’s top instruments

Thousands of stocks and ETFs at your fingertips

START INVESTING

 

INFORMATION ABOUT ANALYTICAL MATERIALS:   

The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admirals investment firms operating under the Admirals trademark (hereinafter “Admirals”). Before making any investment decisions please pay close attention to the following:   

  • This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.  
  • Any investment decision is made by each client alone whereas Admirals shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.  
  • With a view to protecting the interests of our clients and the objectivity of the Analysis, Admirals has established relevant internal procedures for the prevention and management of conflicts of interest.  
  • The Analysis is prepared by an independent analyst (hereinafter “Author”) based on personal estimations.  
  • Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admirals does not guarantee the accuracy or completeness of any information contained within the Analysis.  
  • Any kind of past or modelled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admirals for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.  
  • Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved

 

Jitanchandra Solanki
Jitanchandra Solanki Financial Markets Author, Admirals London

Jitanchandra is a financial markets author with more than 15 years experience trading currencies, indices and US equities. He is an accredited Market Technician with a BA Hons degree.