If it sounds exciting for you to read about the best gold stocks to buy right now – then keep following this article now. Insider Monkey recently published an article about this topic giving us some very useful tips. Investing in gold has always been popular among people. As for me, I just always paly with this idea in myself, but as I don’t possess enough money to invest in anything it still remains just a dream.
While gold is considered the best investment to hedge a portfolio against a market downturn, it is also among the worst performers when the stock market is hot. By comparison, investing in the stocks of gold mining companies can also provide some exposure to the commodity without quite as much volatility. But what are the best gold stocks to buy right now? We can find the answer in Insider Monkey’s article.
Now without a further ado let’s see what Insider Monkey has investigated for us. We have picked three bold stocks from their list.
The first company is Yamana Gold Inc. (USA) (NYSE:AUY). In Yamana Gold Inc. (USA) (NYSE:AUY), the number of bullish investors remained unchanged at 15 during the first three months of 2017. However, the aggregate value of their positions slid to just $45.15 million from $147.34 million, even though the stock inched down by just 1.80%. The decline in the aggregate value is mainly due to several funds that unloaded substantial positions. Yamana Gold Inc. (USA) (NYSE:AUY)’s latest financial results were disappointing, with its net loss of $0.01 per share missing the consensus estimate of a profit of $0.01, while revenue of $403.50 million was $19.40 million less than expected. The second company in our list now is Eldorado Gold Corp (USA) (NYSE:EGO). In Eldorado Gold Corp (USA) (NYSE:EGO), the number of bullish investors long the stock rose by two to 20 between January and March. At the same time, the total value of their holdings declined to $69.89 million from $87.43 million. The stock of the Toronto-based gold exploration and mining company has dropped by 23% since the beginning of the year. At last, but not least we are mentioning Goldcorp Inc. (USA) (NYSE:GG). There were 24 funds in our database that held $147.73 million worth of Goldcorp Inc. (USA) (NYSE:GG)‘s stock at the end of March, versus 25 funds with stakes worth $214.72 million a quarter earlier. Last month, GoldCorp Inc. (USA) (NYSE:GG) reached an agreement to sell its 21% minority interest in the San Nicolas copper-zinc project in Mexico to Teck Resources (NYSE:TECK). Following the acquisition, worth $50 million, Teck will have 100% ownership of the project.
For any further interesting information read Insider Monkey’s article about 10 best gold stocks to buy right now