Gold prices climbed 2% this week touching their two-week high and ended Thursday at $1,312.63 an ounce as investors considered gold as a safer asset than stocks or bonds due to increasing geopolitical tensions between Russia, Ukraine and the West, and growing weakness in the Eurozone. We note that gold is currently trading above the key technical resistance levels of 30, 50 and 200 day daily moving averages (DMAs) indicating a bullish signal.
6-Months Gold Technical Chart
Source: Bloomberg
We have shortlisted 12 sub C$5 Canadian gold mining stocks which are trading above their short term (30-Day and 50-Day) and long term (200-Day) DMAs indicating a strong bullish signal. We note that the shortlisted stocks have recorded positive price gains during the past five trading sessions with daily average traded volume of above 100,000.
|
Company Name |
Ticker |
Exchange |
Market Cap |
Last Price |
Average Volume |
Price Change |
30-Day DMA |
50-Day DMA |
200-Day DMA |
52-Week High |
52-Week Low |
|
Richmont Mines Inc |
RIC |
TSX |
111.5 |
2.34 |
286,610 |
51.9% |
1.56 |
1.48 |
1.46 |
2.40 |
1.00 |
|
IDM Mining Ltd |
IDM |
TSX |
20.7 |
0.54 |
100,040 |
25.6% |
0.35 |
0.31 |
0.22 |
0.59 |
0.03 |
|
Claude Resources Inc |
CRJ |
TSX |
59.3 |
0.32 |
759,373 |
18.9% |
0.25 |
0.22 |
0.19 |
0.37 |
0.12 |
|
Panoro Minerals Ltd |
PML |
TSXV |
102.6 |
0.47 |
268,542 |
13.4% |
0.43 |
0.41 |
0.36 |
0.60 |
0.19 |
|
Castle Mountain Mining |
CMM |
TSXV |
55.4 |
0.77 |
209,603 |
13.2% |
0.68 |
0.70 |
0.70 |
1.10 |
0.30 |
|
Pure Gold Mining Inc |
PGM |
TSXV |
48.6 |
0.47 |
831,615 |
11.9% |
0.41 |
0.38 |
0.26 |
0.50 |
0.03 |
|
Kirkland Lake Gold Inc |
KGI |
TSX |
294.4 |
4.09 |
808,987 |
10.7% |
3.77 |
3.49 |
3.33 |
5.05 |
2.21 |
|
Lake Shore Gold Corp |
LSG |
TSX |
576.3 |
1.37 |
4,200,351 |
10.1% |
1.16 |
1.04 |
0.77 |
1.37 |
0.32 |
|
Lexam VG Gold Inc |
LEX |
TSX |
30.6 |
0.14 |
110,710 |
8.0% |
0.12 |
0.11 |
0.12 |
0.18 |
0.09 |
|
Kaminak Gold Corp |
KAM |
TSXV |
110.3 |
1.00 |
444,383 |
7.5% |
0.93 |
0.86 |
0.76 |
1.19 |
0.46 |
|
Harte Gold Corp |
HRT |
TSX |
65.0 |
0.30 |
1,132,318 |
5.3% |
0.25 |
0.21 |
0.11 |
0.34 |
0.05 |
|
AuRico Gold Inc |
AUQ |
TSX |
1,157.5 |
4.67 |
598,530 |
3.4% |
4.50 |
4.39 |
4.56 |
5.92 |
3.56 |
Source: Bloomberg
DMA- Daily Moving Average
Company Description:
Richmont Mines Inc (TSX: RIC)
Richmont Mines, Inc. is a Canadian gold mining company. The company owns and operates mine properties located in Ontario and Quebec Canada.
IDM Mining Ltd (TSX: IDM)
IDM Mining Ltd. is a gold exploration company. The company acquires, explores and develops properties for gold deposits.
Claude Resources Inc (TSX: CRJ)
Claude Resources, Inc. explores for and produces gold. The company operates the Seabee Gold Mine in the La Ronge Mining District in Saskatchewan and the Santoy 8 Mine in Saskatchewan; and explores the Madsen Gold Project in Red Lake, Ontario; and the Amisk Gold Project in Saskatchewan.
Panoro Minerals Ltd (TSXV: PML)
Panoro Minerals Ltd. acquires and explores mineral properties. The company currently owns an exploration stage gold-copper project located in Northern Peru.
Castle Mountain Mining (TSXV: CMM)
Castle Mountain Mining Company Limited operates as a gold mining company. The company engages in the drilling, exploration, management, and production of gold mining properties in the State of California.
Pure Gold Mining Inc (TSXV: PGM)
Pure Gold Mining in. explores for gold in Canada.
Kirkland Lake Gold Inc (TSX: KGI)
Kirkland Lake Gold, Inc. is an operating gold mining company located in Ontario, Canada. The company owns the Macassa Mine and mill and several contiguous gold producing properties. Kirkland Lake is developing a lode gold deposit.
Lake Shore Gold Corp (TSX: LSG)
Lake Shore Gold Corp. is a gold mining company that is in production and pursuing rapid growth through the advancement of three wholly owned complexes in the Timmins Gold Camp.
Lexam VG Gold Inc (TSX: LEX)
Lexam VG Gold, Inc. explores and develops gold properties. The company performs exploration programs, designed to buildThe company’s resource base and to test the growth potential and determine the economics on its property assets. Lexam VG Gold operates in the Timmins gold camp in Ontario, Canada.
Kaminak Gold Corp (TSXV: KAM)
Kaminak Gold Corporation explores for gold, uranium, and nickel in British Columbia and Nunavut.
Harte Gold Corp (TSX: HRT)
Harte Gold Corporation acquires, explores and develops mineral resource properties with a focus on gold. The company operates on the Sugar Zone and Stoughton-Abitibi properties in Ontario.
AuRico Gold Inc (TSX: AUQ)
AuRico Gold Inc. is a Canadian gold producer with mines and projects in North America that have solid production growth and exploration potential. The company is focused on its core operations including the Young-Davidson gold mine in northern Ontario and the El Chanate mine in Sonora State, Mexico. AuRico’s project pipeline also includes development opportunities in Canada and Mexico.
