The Canadian gold stocks we’ve dug up have been stellar stock-price performers as of late
SmallCapPower | December 6, 2019: After reaching a multi-year high of US$1,561/oz on September 4, 2019, the spot price of gold has been trading in a range between $1,450/oz and $1,480/oz. With more monetary easing from central banks around the world it appears that some investors are fleeing from bonds and stocks to buy gold, which is viewed by investors as a AAA zero-coupon bond and is a safe haven in times of political and economic uncertainty. Gold companies have been prospering from these increased gold prices, with larger players receiving most of the attention. Today we have sifted through and found four Canadian gold stocks that have experienced increased price and volume momentum over the past week. Price and volume momentum are a good indicator of bullishness, as increased share prices on greater volumes show heightened investor interest in a stock.
*Share price data as at December 5, 2019, data obtained from S&P Capital IQ
Nighthawk Gold Corp. (TSX:NHK) – $0.43
Junior Gold
Nighthawk Gold is a Canada-based company engaged in the exploration of gold properties in the Northwest Territories and Ontario. The Company holds an interest in the Indin Lake Gold Property, which comprises a total land package of 222,203 acres, or 900 sq. km, in the Indin Lake Greenstone Belt, located ~200 km north of Yellowknife. Nighthawk also holds an interest in the Superior Project, which is located in the Batchawana Bay area, ~85 km northwest of Sault Ste. Marie, Ontario. The Superior Project consists of approximately 180 sq. km of contiguous claims and includes the Coppercorp Mine. Additionally, NHK also holds an interest in the Colomac Gold Project, which is located ~220 kilometers northwest of Yellowknife.
- Market Cap: $94.6M
- 7-Day Return: +16.4%
- 30-Day Return: +4.9%
- 7-Day Average Trading Volume: 234,850
- 30-Day Average Trading Volume: 127,130
Victoria Gold Corp. (TSXV:VIT) – $7.80
Junior Gold
Victoria Gold is engaged in the exploration and development of gold properties. The Company owns the Dublin Gulch property, which hosts the Eagle Gold Deposit. Dublin Gulch is in central Yukon, ~370 km north of Whitehorse and ~80 km from the town of Mayo. The property covers an area of approximately 550 sq. km. The Dublin Gulch property also includes the Wolf Tungsten Deposit, the Potato Hills Trend, including the Olive, Shamrock and Nugget targets, NND Cat B land and other targets. The Company’s other properties include interests in Donjek, Aurex, Canalask, and Clear Creek in Yukon, and Island Mountain in Nevada.
- Market Cap: $446.4M
- 7-Day Return: +15.6%
- 30-Day Return: +10.6%
- 7-Day Average Trading Volume: 54,240
- 30-Day Average Trading Volume: 38,560
Otis Gold Corp. (TSXV:OOO) – $0.09
Junior Gold
Otis Gold explores gold mineral properties in the United States. The Company’s main projects include Kilgore Gold, Oakley, Hai, and Gold Bug. The Kilgore Gold project is in Clark County, Idaho, and the Hai and Gold Bug properties are in Lemhi County, Idaho. The Oakley Project consists of the Blue Hill Creek, Cold Creek Gold, Matrix Creek and Other properties. The Blue Hill Creek and Matrix Creek properties are in Cassia County, Idaho. The Company conducted an economic feasibility study on the Kilgore Gold project, showing an Indicated resource of 825K oz/Au in 44.6M tonnes at a grade of 0.58 g/t Au and an Inferred resource of 136K oz/Au in 9.4M tonnes at a grade of 0.45 g/t Au.
- Market Cap: $14.9M
- 7-Day Return: +13.3%
- 30-Day Return: -19.0%
- 7-Day Average Trading Volume: 92,330
- 30-Day Average Trading Volume: 40,150
Liberty Gold Corp. (TSX:LGD) – $0.88
Junior Gold
Liberty Gold is a Canada-based gold company focused on exploring the Great Basin of the United States, historically home to large-scale gold projects that are ideal for open-pit mining. The region is well known as one of the most prolific gold-producing regions in the world. The Company’s projects include: Goldstrike, Black Pine, and Kinsley Mountain, all of which are past producing open-pit mines, which were all previously operating in the 1990s. On October 15, 2019, Liberty Gold announced drill results at its Black Pine Project, which included 3.14 g/t Au over 44.2m and 4.56 g/t Au over 9.1m.
- Market Cap: $209.4M
- 7-Day Return: +8.6%
- 30-Day Return: -2.2%
- 7-Day Average Trading Volume: 268,870
- 30-Day Average Trading Volume: 206,460
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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