The Canadian gold stocks we have identified have risen more than 25% over the past month on greater-than-average volume
SmallCapPower | February 22, 2019: With the recent volatility in global markets, fueled by US/China trade tensions, Brexit talks, and the European Central Bank (ECB) ending their Quantitative Easing program, gold mining stocks have seen some positive price momentum. On February 19, 2019, the price of gold hit ~$1,350/oz, a level not seen since April 2018. Today, we have spotted four Canadian gold stocks that have seen 25% or more price appreciation over the past month, on higher-than-average volume. Price and volume momentum indicate bullishness, as increased share prices on higher volumes show heightened investor interest in a stock.
*Share prices as at close February 20, 2019, data obtained from S&P Capital IQ
Eldorado Gold Corporation (TSX:ELD) – $5.75
Eldorado Gold is a Canada-based gold producer with operations in China, Turkey, Greece, Romania and Brazil. The Company operates three mines and has several projects under development, such as the Lamaque Project located in Quebec. The Company reported Q3/2018 gold production of 84,783 oz, 13,430 oz of which came from the Lamaque mine, located in Quebec, which is in its pre-commercial phase. On January 30, the Company announced that it will resume its mining, crushing, stacking, and heap leaching at its Kisladag gold mine in Turkey.
- Market Cap: $882.9 Million
- 1-Month Return: 66.2%
- 5-Day Return: +9.1%
- 30-Day Average Volume: 1,077,010
- 90-Day Average Volume: 691,640
Argonaut Gold Inc. (TSX:AR) -$1.93
Argonaut Gold engages in gold mining, mine development, and mineral exploration activities at gold-bearing mineral properties in North America. The Company’s primary assets are the El Castillo and San Agustin mine, located in Mexico. Argonaut also has operations in Sonora, Baja California Sur, and Guanajuato, Mexico, as well as the Magino Project in Ontario, Canada. On January 22, Argonaut announced it has met its 2018 production guidance with record gold equivalent ounce production of 165,117 during the year.
- Market Cap: $344.9 Million
- 1-Month Return: +37.9%
- 5-Day Return: +1.6%
- 30-Day Average Volume: 506,860
- 90-Day Average Volume: 470,670
Gran Colombia Gold Corp. (TSX:GCM) – $4.33
Gran Colombia Gold is a mid-tier gold miner focused on its Colombian properties, where it is currently the largest underground silver and gold producer, operating its Segovia and Marmato assets. The Company reported total gold production of 57,163 oz in Q3/2018, a 54% increase from the previous year. The Company also produced 218,001 oz/Ag in 2018. On February 19, 2019, Gran Colombia announced that it would recover assets that were nationalized in 2011 by Hugo Chavez, adding to its Latin American-based projects.
- Market Cap: $211.7 Million
- 1-Month Return: 26.7%
- 5-Day Return: +8.5%
- 30-Day Average Volume: 157,000
- 90-Day Average Volume: 104,000
Atlantic Gold Corporation (TSXV:AGB) – $2.08
Atlantic Gold is a Canada-based gold producer that engages in gold production and in the acquisition, exploration, and development of precious metals and mineral properties. Commencing commercial production March 1, 2018, the Company operates in Nova Scotia on the Moose River Consolidated Gold Mine property, which comprises of the Beaver Dam, Torquay, Fifteen Min Stream, and Cochrane Hill gold deposits. In Q3/2018, the Company announced production of 27,570 oz of gold. On February 20, Atlantic Gold reported its final 2018 drill program results from the 149 Deposit, highlighted by 16m at 1.12 g/t Au from 57m.
- Market Cap: $504.4 Million
- 1-Month Return: 31.6%
- 5-Day Return: +4.0%
- 30-Day Average Volume: 495,120
- 90-Day Average Volume: 335,390
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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