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Alamos Gold

Alamos Gold Inc acquires, explores, and produces gold and other precious metals, and operates in two principal geographic areas: Canada and Mexico. The company has three operating mines in North America: Young-Davidson and Island Gold mines operate in Canada and the Mulatos and in Sonora, Mexico. The company generates maximum revenue from the Mulatos mines.

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Technical Analyst Clive Maund shares his thoughts on Dryden Gold Corp. to explain why he believes it is an Immediate Strong Buy.

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Gold prices projected to jump to $3,000/oz by 2025 due to strong demand from central banks and investors returning to market with Fed rate cuts.

Bank Of America Sees Gold At $3,000, Warns Of A Copper Supply Crisis: Metals &#39;Dance To Their Own Tune&#39;

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The transaction enhances Alamos as an intermediate gold producer at a time when the element has already seen multiple new all-time highs.

Alamos Gold Acquires Argonaut Gold, Shareholders Look Toward Synergies

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The Alamos Gold strategy is to build out a pipeline of &#34;high-quality, long-term projects, in good jurisdictions,&#34; CEO John A. McCluskey said.

Alamos Gold Acquires Orford Mining, Targets Domestic Growth Prospects

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On Friday, gold surged 2% beyond $1,950/oz levels, putting it on track for a 6% weekly gain, its largest since early November 2022.

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Scotiabank analyst Ovais Habib maintains Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) with a Sector Outperform and raises the price target from $16 to $20.

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Scotiabank Maintains Sector Outperform on Alamos Gold, Raises Price Target to $20

Alamos Gold Inc.&nbsp;(TSX:<a class="ticker" href="https://www.benzinga.com/stock/AGI#TSX">AGI</a>, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) (&quot;Alamos&quot; or the &quot;Company&quot;) today announced that it has entered into a gold sale prepayment agreement (&quot;gold prepayment&quot;) for total consideration of&nbsp;$116 million&nbsp;in exchange for the delivery of 49,384 ounces in 2025. The proceeds of the gold prepayment were used to eliminate gold forward purchase contracts, previously entered into by Argonaut Gold (&quot;Argonaut&quot;), totalling 179,417 ounces in 2024 and 2025 with an average price of&nbsp;$1,838&nbsp;per ounce. The transaction has eliminated more than half of the Argonaut hedge book and associated mark-to-market liability, while providing significantly increased exposure to rising gold prices.
As part of the recently closed acquisition of Argonaut, Alamos inherited Argonaut&#39;s hedge book which included gold forward purchase contracts totaling 329,417 ounces between 2024 and 2027. The average forward prices on the contracts ranged between&nbsp;$1,821&nbsp;and&nbsp;$1,860&nbsp;per ounce (Table 1). The transaction has closed out all of the 2024 and 2025 forward purchase contracts.
To fund the closing out of the hedges, Alamos entered into a gold prepayment agreement on attractive terms given the strong forward gold price environment. Under the terms of the gold prepayment, Alamos received total consideration of&nbsp;$116 million&nbsp;in exchange for the delivery of 49,384 ounces in 2025, settled monthly, based on average forward curve prices of&nbsp;$2,524&nbsp;per ounce. The gold prepayment was executed by Canadian Imperial Bank of Commerce (lead), Bank of Montreal, National Bank of Canada, and ING Capital Markets LLC.
The remaining Argonaut hedge book, inherited by Alamos on the close of the acquisition, consists of forward purchase contracts totaling 150,000 ounces in 2026 and 2027. This is expected to account for less than&nbsp;12%&nbsp;of total consolidated production over that time frame. The Company will continue to review opportunities to unwind the remaining 2026 and 2027 forward purchase contracts.

TSX:AGI

Alamos Gold Secures $116M Deal to Boost Exposure to Rising Gold Prices

Jefferies analyst Matthew Murphy maintains Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) with a Buy and raises the price target from $20 to $21.

Jefferies Maintains Buy on Alamos Gold, Raises Price Target to $21

Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) has outperformed the market over the past 5 years by 9.04% on an annualized basis producing an average annual return of 22.27%. Currently, Alamos Gold has a market capitalization of $6.79 billion. 
Buying $100 In AGI: If an investor had bought $100 of AGI stock 5 years ago, it would be worth $274.20 today based on a price of $17.05 for AGI at the time of writing.
<h3>Alamos Gold's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720627247_0_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 5 Years Ago, You Would Have $300 Today

Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) has outperformed the market over the past 5 years by 8.78% on an annualized basis producing an average annual return of 21.77%. Currently, Alamos Gold has a market capitalization of $6.22 billion. 
Buying $100 In AGI: If an investor had bought $100 of AGI stock 5 years ago, it would be worth $258.43 today based on a price of $15.63 for AGI at the time of writing.
<h3>Alamos Gold's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719345705_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Alamos Gold 5 Years Ago Would Be Worth Today

Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) has outperformed the market over the past 5 years by 13.27% on an annualized basis producing an average annual return of 26.37%. Currently, Alamos Gold has a market capitalization of $6.76 billion. 
Buying $100 In AGI: If an investor had bought $100 of AGI stock 5 years ago, it would be worth $321.67 today based on a price of $16.99 for AGI at the time of writing.
<h3>Alamos Gold's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717709455_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Alamos Gold 5 Years Ago Would Be Worth This Much Today

Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) has outperformed the market over the past 5 years by 15.83% on an annualized basis producing an average annual return of 28.96%. Currently, Alamos Gold has a market capitalization of $6.46 billion. 
Buying $100 In AGI: If an investor had bought $100 of AGI stock 5 years ago, it would be worth $352.06 today based on a price of $16.23 for AGI at the time of writing.
<h3>Alamos Gold's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715875234_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Alamos Gold Stock In The Last 5 Years

Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) has outperformed the market over the past 5 years by 14.71% on an annualized basis producing an average annual return of 26.88%. Currently, Alamos Gold has a market capitalization of $6.05 billion. 
Buying $1000 In AGI: If an investor had bought $1000 of AGI stock 5 years ago, it would be worth $3,385.14 today based on a price of $15.20 for AGI at the time of writing.
<h3>Alamos Gold's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714771829_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Alamos Gold 5 Years Ago Would Be Worth Today

Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) reported quarterly Adj earnings of $0.13 per share which met the analyst consensus estimate. The company reported quarterly sales of $277.600 million which beat the analyst consensus estimate of $272.000 million by 2.06 percent. This is a 10.38 percent increase over sales of $251.500 million the same period last year.

Earnings

Alamos Gold Q1 Adj EPS $0.13, Inline, Sales $277.600M Beat $272.000M Estimate

Guidance

Alamos Gold Says On Track To Achieve Its Full Year Production And Cost Guidance

RBC Capital analyst Josh Wolfson maintains Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) with a Outperform and raises the price target from $16 to $18.

RBC Capital Maintains Outperform on Alamos Gold, Raises Price Target to $18

Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) has outperformed the market over the past 5 years by 15.36% on an annualized basis producing an average annual return of 26.78%. Currently, Alamos Gold has a market capitalization of $6.02 billion. 
Buying $100 In AGI: If an investor had bought $100 of AGI stock 5 years ago, it would be worth $325.43 today based on a price of $15.14 for AGI at the time of writing.
<h3>Alamos Gold's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713456044_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 5 Years Ago Would Be Worth $300 Today

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
It was a down week on Wall Street, with the S&amp;P 500 dropping 1.56%, the Dow falling 2.37%, and the Nasdaq decreasing by 0.45%. Oil prices rose on news that Israel is preparing for a possible direct attack by Iran this weekend.
The VIX, or Volatility Index, experienced its most significant surge in over a year on Friday, following President Joe Biden&#8216;s warning that an Iranian attack on Israeli soil could happen &#8220;sooner rather than later.&#8221; 
Meanwhile, U.S. consumer sentiment dipped in April, falling short of economist forecasts, and the likelihood of a Federal Reserve rate cut in June plummeted from 60% to 20%, with some Wall Street analysts now expecting only <a href="https://www.benzinga.com/markets/equities/24/04/38228298/market-turmoil-resumes-as-inflation-rises-more-than-expected-oil-prices-spike-gold-at-record-hig">one rate cut in December.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/general/entertainment/24/04/38184776/amc-ceo-says-bankruptcy-is-inconceivable-as-shares-hit-52-week-lows-2025-2026-are-going-to-">AMC CEO Says Bankruptcy Is &#8216;Inconceivable&#8217; As Shares Hit 52-Week Lows: &#8216;2025, 2026 Are Going To Be Gangbusters&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, reports on how AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) CEO Adam Aron dismissed bankruptcy fears, despite a declining stock price, and is banking on a strong future box office rebound.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38190312/what-happened-to-dogecoin-after-the-bitcoin-halving-four-years-ago">What Happened To Dogecoin After The Bitcoin Halving Four Years Ago?</a>,&#8221; by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, details a bullish trend for Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) post-Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) halving in 2020, marked by a 7,185% price surge and elevated social media influence notably from a TikTok campaign, propelling it to become the eighth-largest cryptocurrency by market cap.
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38164785/bank-of-america-sees-gold-at-3-000-warns-of-a-copper-supply-crisis-metals-dance-to-">Bank Of America Sees Gold At $3,000, Warns Of A Copper Supply Crisis: Metals &#8216;Dance To Their Own Tune&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, features BofA&#8217;s Michael Widmer predicting a rise in gold to $3,000 by 2025 and a looming copper supply crisis, with Alamos Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) and Freeport-McMoran Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) upgraded to a &#8220;Buy.&#8221;
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38137006/dont-always-believe-what-you-read-tesla-chief-designer-says-just-stay-tuned-about-l">&#8216;Don&#8217;t Always Believe What You Read:&#8217; Tesla Chief Designer Says &#8216;Just Stay Tuned&#8217; About Low-Cost Car Development After Musk Rubbishes Rumors</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38211149/higher-stock-prices-valuations-make-sense-because-theres-not-enough-public-equity-to-go-">Higher Stock Prices, Valuations Make Sense Because There&#8217;s Not Enough Public Equity To Go Around, Josh Brown Says: &#8216;It&#8217;s Not Going To Change&#8217;</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38173636/exclusive-marathon-riot-hut8-ceos-tell-benzinga-how-bitcoin-halving-will-impact-miners">EXCLUSIVE: Marathon, Riot, Hut 8 CEOs Tell Benzinga How Bitcoin Halving Will Impact Miners</a>
The Bears
&#8220;<a href="https://www.benzinga.com/general/politics/24/04/38173943/trumps-public-media-company-has-6-month-share-lockup-and-its-co-founders-are-suing-so-they-can-s">Trump's Public Media Company Has 6-Month Share Lockup, And Its Co-Founders Are Suing So They Can Sell Stock Faster</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, reports that Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) co-founders sued former President Donald Trump over their ability to sell shares, amid concerns about the company&#8217;s management and financial challenges.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38151739/coinbase-class-action-lawsuit-related-to-unregistered-securities-trading-partially-revived">Coinbase Class Action Lawsuit Related To Unregistered Securities Trading Partially Revived</a>,&#8221; by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, reports that a U.S. appeals court has partially revived a class action lawsuit against Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) concerning the trading of unregistered securities, overturning a previous dismissal.
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38170666/if-tesla-hits-brakes-on-25k-ev-it-would-be-a-meaningful-negative-for-the-stock-gold">If Tesla Hits Brakes On $25K EV, It &#8216;Would Be A Meaningful Negative For The Stock&#8217;: Goldman Sachs</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, details a Goldman Sachs analyst&#8217;s views that a potential delay in Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&#8216;s $25K EV would be significantly negative for the stock, following disappointing Q1 deliveries.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38137244/not-a-good-omen-for-future-says-cathie-wood-as-economists-point-to-worrisome-trends">&#8216;Not A Good Omen For Future,&#8217; Says Cathie Wood As Economists Point To Worrisome Trends In Seemingly Strong Jobs Data</a>
<a href="https://www.benzinga.com/news/econ-s/24/04/38145762/jamie-dimon-warns-of-stickier-inflation-higher-interest-rates-in-annual-jpmorgan-letter-there-will-b">Jamie Dimon Warns Of Stickier Inflation, Higher Interest Rates In Annual JPMorgan Letter: &#8216;There Will Be Plenty Of Stress&#8217;</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38162299/bitcoin-etf-issuers-doubtful-if-sec-will-approve-ether-etf-pins-are-dropping-as-far-as-eth">Bitcoin ETF Issuers Doubtful If SEC Will Approve Ether ETF: &#8216;Pins Are Dropping As Far As Ethereum Is Concerned&#8217;</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Benzinga Bulls And Bears: Tesla, AMC, Trump Media Plus Lessons From Dogecoin's Post-2020 Bitcoin Halving Surge

Gold prices are projected to jump to $3,000 per ounce by 2025, according to Bank of America, buoyed by strong demand from central banks and the anticipation of investors returning to the market once the Federal Reserve begins <a href="https://www.benzinga.com/federal-reserve">to slash interest rates.</a>
Michael Widmer, the bank&#8217;s commodity strategist, highlighted gold&#8217;s resilience as central banks tighten monetary policies. 
&#8220;Gold prices have been remarkably resilient in recent months, notwithstanding central banks around the world tightening monetary policy,&#8221; said Widmer. 
The Chinese central bank, in particular, has played a significant role in supporting the gold market, amassing over $200 tonnes of the yellow metal in 2023 alone. This elevated buying also depends on the heightened activity in China&#8217;s retail sector, with jewelry sales and non-monetary gold imports &#8220;hitting record highs earlier this year.&#8221; 
&#8220;If the Fed ultimately starts cutting rates, investors should return to the market, also offsetting potentially lower Chinese investment demand as sentiment&nbsp;there&nbsp;improves and the economy accelerates. We had previously proposed a&nbsp;US$2,400/oz price estimate if the Fed cut rates in 1Q24; we&nbsp;now raise that and see gold rallying&nbsp;to US$3,000/oz by 2025,&#8221; Widmer affirmed.
In response to these developments, Bank of America equity research team has also upgraded its rating on Alamos Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) from Neutral to Buy. 
Chart: Bank of America Predicts A Further 27% Rally In Gold
<img decoding="async" src="https://www.benzinga.com/files/images/story/2024/1712673874_0.png" alt="" />
<h3 class="wp-block-heading">&#8216;The Copper Supply Crisis Is Here&#8217;</h3>
The optimism extends beyond just precious metals, with Bank of America also sounding the alarm on a potential copper supply crisis. 
According to Widmer, &#8220;raw materials are increasingly&nbsp;dance to their own tune,&#8221; and copper is seen at the &#8220;epicentre of the energy transition.&#8221; 
The bank predicts significant increases in copper prices, driven by a variety of factors including green technology investments, thin inventories and global economic recovery. 
Copper prices are expected to average $10,750 per tonne in 2025, climbing to $12,000 per tonne in 2026.
Widmer points out the critical situation in copper mine supply which is beginning to seriously impact refined production. &#8220;Tight copper mine supply is increasingly constraining refined production: the much-discussed lack of mine projects is finally starting to bite,&#8221; he explained.
Although advancements in electric vehicle (EV) technology have reduced the amount of copper required in new models—Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) latest 48V system reportedly needs 75% less copper—the demand from other sectors remains high. Notably, copper is crucial for applications such as data center cabling and the electricity network, covering power generation and transmission.
Following this optimistic forecast, the bank has also upgraded its ratings for copper producers Freeport&#8211;McMoran Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) and Hudbay Minerals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBM#NYSE">HBM</a>) from Neutral to Buy, signaling expected strong performance in the copper sector.
Chart: Bank Of America Foresees A 30% Rally In Copper By 2026
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/09100303/image-23-1024x495.png" alt="" class="wp-image-283909" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/09100303/image-23-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/09100303/image-23-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/09100303/image-23-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/09100303/image-23-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/09100303/image-23.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Image: Shutterstock

Bank Of America Sees Gold At $3,000, Warns Of A Copper Supply Crisis: Metals 'Dance To Their Own Tune'

WIIM

Alamos Gold shares are trading higher after B of A Securities upgraded the stock from Neutral to Buy and raised its price target from $21.75 to $27.25.

B of A Securities analyst Harmen Puri upgrades Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) from Neutral to Buy and raises the price target from $21.75 to $27.25.

B of A Securities Upgrades Alamos Gold to Buy, Raises Price Target to $27.25

TORONTO—It looks like the good mood among <a href="https://www.benzinga.com/etfs/sector-etfs/24/03/37994542/gold-prices-rise-to-all-time-highs-mark-best-month-in-4-years-mining-stocks-rally-as-traders-ant">gold miners</a> at last month's&nbsp;Prospectors &amp; Developers Association of Canada&nbsp;gathering was warranted.
Gold prices <a href="https://www.benzinga.com/news/large-cap/24/04/38117669/gold-shines-above-2-300-ends-another-week-at-record-high-mining-stocks-rally-to-11-month-peak">notched another record</a> above $2,300 on Friday, roughly a month after thousands of mining executives, analysts, financiers and investment bankers gathered in Toronto for the yearly conference and trade show.
At that time, gold was trading around $2,100 but was on its way higher amid expectations that the Federal Reserve will lower interest rates. Lower rates make non-interest-bearing gold more attractive. The precious metal has also gained ground amid worries over China's economy and tensions surrounding the war in Ukraine and the escalating conflict in the Middle East. Gold is often considered a safe haven in times of economic or political uncertainty.
Although gold mining stocks in general have been gaining ground, the industry is still lagging because of higher production costs. This suggests that if gold prices remain higher, mining stocks may play catch up, especially if inflationary pressures ease.
Gold prices are up around 13% so far this year, but as of Friday&#8217;s close the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) was up less than 11%. The VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) is closer, with a 12.55% gain.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37904601/global-mining-industry-faces-trust-deficit-despite-being-asked-to-produce-more-meta">Global Mining Industry Faces &#8216;Trust Deficit&#8217; Despite Being Asked To Produce More Metals For Energy Transition</a>
During the Toronto trade show in early March, gold mining companies were already celebrating gold's ascent as they pitched investors. They're undoubtedly celebrating more now.
Here are some thoughts from their pitches.
Alamos Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>): The presentation from Scott Parsons, senior vice president of investor relations for intermediate gold producer <a href="https://www.benzinga.com/m-a/24/03/37964057/alamos-gold-acquires-argonaut-gold-shareholders-look-toward-synergies">Alamos Gold</a> seemed particularly prescient.
As he was speaking, gold was just shy of all-time highs, and Parson's said he expected to see record gold prices in the second half of this year. His prediction came true early.
He saw several factors underpinning gold, including rising government debt levels, significant deficits and rising debt service costs. Also, he saw central bank easing on the horizon and rising geopolitical risks.
Gold Royalty Corp. (NYSEAMERICAN: GROY): One way to invest in gold equities without the drag of rising costs is through royalty or streaming stocks. These companies provide miners with upfront financing in exchange for revenue or metal eventually produced from a mine.&nbsp;
<a href="https://www.benzinga.com/news/earnings/24/03/37996542/gold-royalty-projects-revenue-to-double-universal-stainless-sees-record-sales-atlas-lithium-gets-30">Gold Royalty</a> chief financial officer Andrew&nbsp;Gubbels noted in his presentation that the company doesn't have any exposure to operating or capital cost inflation.
"We think it's a better way to invest in gold," he said.
NovaGold Resources Inc. (NYSEAMERICAN: NG): Richard Williams, chief operating officer of NovaGold, said his company is "highly leveraged" to the gold price.
"We have definitely been glad the gold price is going up," he said.
That's understandable because the stock needs a turnaround. Although shares have been rising over the past month as gold has climbed sharply, NovaGold is still down around 16% year to date.&nbsp;
The stock has been under pressure over concerns about its Donlin project in Alaska, which it owns with Barrick Gold Corp. (GOLD). NovaGold wants to update its feasibility study but Barrick wants to continue exploratory drilling.
Equinox Gold Corp. (NYSEAMERICAN: EQX): "High gold prices are good for everybody" in the gold mining industry, said Rhylin Bailie, vice president of investor relations with Equinox Gold.
Prior to a recent run up, the company's stock wasn't doing as well as it should because it is working on a capital intensive project in Ontario, Canada, she said. Two other projects in the province that are not Equinox's have seen higher capex than expected, and investors assumed that would happen with Greenstone, she said.
But the company says the project is on budget and on track with its time schedule.
"We are going to be pouring gold during the first half of the year as promised," Bailie said.
Western Exploration Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/WEXPF#OTC">WEXPF</a>): "Welcome to $2,100 gold," Darcy Marud, CEO of Western Exploration, said in his presentation in early March. "That should put a smile on everybody's face."
It seems the grins are continuing.
At some point, because of the nature of all commodities, gold prices will fall back. That could come from trading consolidation or news that reduces the chances that the Federal Reserve will lower interest rates. Easing tensions in the Middle East or Ukraine could also take some of the shine off.
Over the long run, the precious metal is still seen by many as holding its value and playing a defensive role in portfolios.
"Gold weathers all price environments," Marud said.
Gold Terra Resource Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/YGTFF#OTC">YGTFF</a>): Even though gold prices are traveling higher, financing for gold exploration continues to lag, including in Canada, one of the world's most prolific mining jurisdictions.
"Investing in exploration is dying," said Gerald Panneton, CEO of of Gold Terra. "Yellowknife has probably been underexplored for 20 years."
That's the area in Canada's Northwest Territories where Gold Terra is exploring below the underground workings of a mine that was closed in 2003 when much lower gold prices made it unprofitable.
The plan for 2024 is to "drill, drill, drill,"&nbsp;Panneton said. "We'd like to do 10,000 meters."
But the current financing market doesn't allow for that much, he said.
In January, gold financings dropped to $72 million, marking their lowest point in five years,&nbsp;according&nbsp;to S&amp;P Global Market Intelligence. Last month, gold financings rebounded to $198 million, ending a three-month losing streak but remaining relatively low compared with most monthly results over 2022 and 2023, the data provider said.
Now Read: <a href="https://www.benzinga.com/markets/commodities/24/04/38111351/exclusive-key-indicator-may-flip-global-economic-forecasts-copper-is-beginning-to-define-its-">EXCLUSIVE &#8211; Key Indicator May Flip Global Economic Forecasts — &#8216;Copper Is Beginning To Define Its Own Narrative&#8217;</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to&nbsp;<a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a>&nbsp;to get started!

Mining Executives Weigh In On Gold Prices, Financing, Projects: 'We're Definitely Glad'

Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) has outperformed the market over the past 5 years by 10.98% on an annualized basis producing an average annual return of 23.41%. Currently, Alamos Gold has a market capitalization of $5.79 billion. 
Buying $1000 In AGI: If an investor had bought $1000 of AGI stock 5 years ago, it would be worth $2,914.34 today based on a price of $14.60 for AGI at the time of writing.
<h3>Alamos Gold's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712091623_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Each trading day features hundreds of headlines and press releases on Benzinga Pro, a source for traders to see the latest news on the <a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348">overall market and individual tickers.</a>
Here is a look at the most-searched stocks on Benzinga Pro during the month of March. Current prices and year-to-date performance are based on March 29, 2024 and do not include dividends.
Related Link: <a href="https://www.benzinga.com/exclusives/24/03/37894121/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a>
1. NVIDA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
<ul>
<li>Current Price: $903.56</li>
<li>52-Week Range: $262.20 to $974.00</li>
<li>YTD Return: +82.5%</li>
<li>Market Cap: $2.22 trillion</li>
<li>January Search Rank: 3rd</li>
<li>February Search Rank: 1st</li>
</ul>
2. Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
<ul>
<li>Current Price: $175.79</li>
<li>52-Week Range: $152.37 to $299.29</li>
<li>YTD Return: -29.3%</li>
<li>Market Cap: $559.9 billion</li>
<li>January Search Rank: 1st</li>
<li>February Search Rank: 4th</li>
</ul>
3. SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)
<ul>
<li>Current Price: $523.07</li>
<li>52-Week Range: $403.74 to $524.61</li>
<li>YTD Return: +10.1%</li>
<li>Market Cap: $536.2 (assets under management)</li>
<li>January Search Rank: 2nd</li>
<li>February Search Rank: 2nd</li>
</ul>
4. Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)
<ul>
<li>Current Price: $173.31</li>
<li>52-Week Range: $159.78 to $199.62</li>
<li>YTD Return: -10.9%</li>
<li>Market Cap: $2.65 trillion</li>
<li>January Search Rank: 5th</li>
<li>February Search Rank: 8th</li>
</ul>
5. Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)
<ul>
<li>Current Price: $1,010.03</li>
<li>52-Week Range: $93.90 to $1,229.00</li>
<li>YTD Return: +255.3%</li>
<li>Market Cap: $59.1 billion</li>
<li>January Search Rank: 11th</li>
<li>February Search Rank: 3rd</li>
</ul>
6. Marathon Digital Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>)
<ul>
<li>Current Price: $22.58</li>
<li>52-Week Range: $7.16 to $34.09</li>
<li>YTD Return: -3.9%</li>
<li>Market Cap: $6.0 billion</li>
<li>January Search Rank: 6th</li>
<li>February Search Rank: 12th</li>
</ul>
7. SoundHound AI Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>)
<ul>
<li>Current Price: $5.89</li>
<li>52-Week Range: $1.49 to $10.25</li>
<li>YTD Return: +177.8%</li>
<li>Market Cap: $1.8 billion</li>
<li>January Search Rank: Not in Top 25</li>
<li>February Search Rank: 7th</li>
</ul>
8. Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)
<ul>
<li>Current Price: $180.49</li>
<li>52-Week Range: $81.02 to $227.30</li>
<li>YTD Return: +22.4%</li>
<li>Market Cap: $291.7 billion</li>
<li>January Search Rank: 4th</li>
<li>February Search Rank: 14th</li>
</ul>
9. Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)
<ul>
<li>Current Price: $444.01</li>
<li>52-Week Range: $309.73 to $449.34</li>
<li>YTD Return: +8.4%</li>
<li>Market Cap: $259.3 (assets under management)</li>
<li>January Search Rank: 18th</li>
<li>February Search Rank: 22nd</li>
</ul>
10. Solidion Technoogy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STI#NASDAQ">STI</a>)
<ul>
<li>Current Price: $2.75</li>
<li>52-Week Range: $0.37 to $3.75</li>
<li>YTD Return: N/A</li>
<li>Market Cap: $207.1 million</li>
<li>January Search Rank: Not in Top 20</li>
<li>February Search Rank: Not in Top 20</li>
</ul>
Honorable Mentions: The following stocks were the 11th to 20th most-searched tickers on Benzinga Pro in March 2024.
11. Palantir Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)
12. MicroCloud Hologram (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>)
13. Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)
14. The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)
15. Verb Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERB#NASDAQ">VERB</a>)
16. Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>)
17. Alamos Gold Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>)
18. Sibanye Stillwater Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBSW#NYSE">SBSW</a>)
19. Reddit Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>)
20. MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>)
Why It's Important: The list of top searched tickers can sometimes point to stocks seeing an increase in interest among investors. In March, several of the most popular stocks remained the same. SoundHound AI ranked seventh for a second straight month, showing the artificial intelligence name is once again drawing strong interest from readers.
Solidion Technology ranked 10th for the month after <a href="https://www.benzinga.com/news/24/03/37597217/whats-going-on-with-solidion-technology-sti-stock">completing its SPAC merger</a> and having its debut in February.
Reddit, which had one of the most anticipated IPOs in recent years, saw shares price at the top of their range and trade higher on their market debut. The <a href="https://www.benzinga.com/news/24/03/37876921/reddit-stock-opens-for-trading-at-47-everything-you-need-to-know">stock went public </a>on March 21 and still ranked 19th for searched for the full month of March. It will be interesting to see where Reddit ranks for the full month of April.
The rise of valuation for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) also had an impact on the most searched tickers for March with Marathon Digital ranking sixth, Coinbase ranking 13th and MicroStrategy ranking 20th. Coinbase has been moving up the list, going from 22nd in January to 19th in February to 13th in March.
Two mining companies also ranked among the top 20 searched tickers with Sibanye Stillwater and Alamos Gold seeing increased interest.
Read Next: <a href="https://www.benzinga.com/news/24/01/36455419/5-biggest-winners-5-biggest-losers-from-dow-jones-industrial-average-in-2023">5 Biggest Winners, 5 Biggest Losers From Dow Jones Industrial Average In 2023</a>
Image generated using artificial intelligence with Midjourney.

Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) is buying Argonaut Gold (OTCPK: ARNGF) in a <a href="https://www.benzinga.com/topic/gold">deal valued at $325 million</a>.
The transaction enhances Alamos as an intermediate gold producer at a time when the element has already seen <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37942317/gold-mining-stocks-eye-best-month-in-a-year-as-golden-era-for-the-precious-metal-lo">multiple new all-time highs</a>.
The acquisition involves Alamos acquiring all outstanding shares of Argonaut, a move that is expected to create one of Canada&#8217;s largest and most cost-effective gold mines. 
One key is Argonaut&#8217;s Magino mine, which is situated near Alamos&#8217; Island Gold mine in Ontario, Canada. This strategic proximity offers opportunities for synergies, the companies stated.
&#8220;This is a logical and attractive transaction for both companies. Combining the adjacent Island Gold and Magino mines will immediately unlock tremendous value, with significant longer-term upside through further optimizations of the combined operation and ongoing exploration success," <a href="https://alamosgold.com/news-and-events/news/news-details/2024/Alamos-Gold-Press-Release/default.aspx">said</a> Alamos CEO John A. McCluskey.
See Also:  <a href="https://www.benzinga.com/news/24/03/37904712/newmonts-ghana-gold-mine-sale-targets-2b-attracts-chinese-giants">Newmont&#8217;s Ghana Gold Mine Sale Targets $2B, Attracts Chinese Giants</a>
Richard Young, President and CEO of Argonaut Gold, echoed McCluskey&#8217;s sentiments, emphasizing the benefits of the transaction for Argonaut&#8217;s stakeholders. 
&#8220;After considering a broad range of alternatives, we believe this Transaction provides a unique opportunity to place Magino in the hands of a well-capitalized and well-run company,&#8221; Young remarked. &#8220;We believe with adequate capital and an optimal expansion at Magino, the mine will deliver significant value to all stakeholders.&#8221; 
The deal structure involves Argonaut shareholders receiving 0.185 shares of Alamos and one share of a spinoff company for each Argonaut share held. 
The spinoff will inherit Argonaut&#8217;s assets in the U.S. and Mexico, including the Florida Canyon mine, the El Castillo Complex, the La Colorada operation, and the Cerro del Gallo project. 
Alamos will then concentrate on maximizing the potential of the combined Island Gold and Magino operations, with management quantifying long-term synergies of over $500 million.
Alamos produced 529,300 ounces of gold in 2023, but this acquisition could push the production past 600,000 ounces this year. Eventually, the management expects that number to reach 900,000.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Also read: <a href="https://www.benzinga.com/news/earnings/24/03/37883370/centamin-reports-record-gold-revenues-but-egyptian-turmoil-leaves-an-asterisk">Centamin Reports Record Gold Revenues, But Egyptian Turmoil Leaves An Asterisk</a>
Image: Shutterstock

Coming into this year, very few traders and analysts were talking about precious metals. Now, here we are, on the cusp of a potential continuation of the bull trends in both gold and silver. 

Metals Rally - Pet Rocks Have Overtaken Digital Rocks

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Gold prices have surged in 2024 and judging by the latest analyst commentary, this trend is unlikely to stop anytime soon. UBS (NYSE:<a href="https://investorplace.com/stock-quotes/ubs-stock-quote/">UBS</a>) updated its gold price forecasts recently, raising its expectations for the precious metal&rsquo;s future performance.&nbsp;



The bank&rsquo;s Chief Investment Officer (CIO)&nbsp;now anticipates gold to reach $2,500 per ounce by the end of September, up from the previous forecast of $2,400. Moreover, the year-end projection for 2024 has been increased to $2,600 per ounce from $2,500, with the same target set for the end of March.&nbsp;



Looking further ahead, UBS CIO introduced a new forecast for the end of June 2025, predicting gold will climb to $2,700 per ounce. The revised forecasts are based on three primary factors.&nbsp;



The first driver is the recent softening of U.S. economic data for April, which has led to a change in market expectations regarding Federal Reserve interest rate cuts. Currently, money markets are pricing in approximately 40 basis points of easing in 2024, a notable increase from the 28 basis points expected at the end of April.&nbsp;



The second factor influencing the updated outlook is an increase in the forecast for <a href="https://www.investing.com/news/stock-market-news/china-is-buying-a-lot-of-gold-ubs-explains-why-432SI-3435728" target="_blank">central bank gold demand</a> in 2024. UBS CIO now expects demand to be between 950 and 1,000 metric tons, an uptick from the previous estimate of 800 to 850 metric tons. This revision follows a report from the World Gold Council, which indicated that central banks purchased a record 290 metric tons of gold in the first quarter.&nbsp;



The third driver is the ongoing geopolitical uncertainty, which UBS believes will bolster the appeal of gold as a hedge. Factors contributing to this uncertainty include the upcoming U.S. election, persistent conflicts in the Middle East and Ukraine, and escalating trade tensions between the U.S. and China.&nbsp;



UBS CIO suggests that any declines in the price of gold are likely to be temporary and recommends buying the metal on dips at approximately $2,300 per ounce or lower.&nbsp;



<h2>Barrick Gold (GOLD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/09/costco-gold-bars1600-300x169.png" alt="Gold bars and Financial concept, studio shots. Costco's gold bars, cost stock"><div>Source: Misunseo / Shutterstock.com</div></div>Barrick Gold (NYSE:<a href="https://investorplace.com/stock-quotes/gold-stock-quote/">GOLD</a>), one of the world&rsquo;s largest gold producers, benefits significantly from higher gold prices. With extensive operations across North America, South America, and Africa, rising gold prices enhance profitability and cash flow, supporting debt reduction and shareholder returns through dividends and buybacks.



For the last quarter, Barrick Gold <a href="https://www.mining-technology.com/news/barrick-reports-q1-earnings/">reported adjusted earnings per share</a> (EPS) that surpassed analyst predictions. The mining giant posted an adjusted EPS of 19 cents, which is not only higher than the 15 cents forecasted by the Street but also shows an improvement from the 14 cents reported in the same quarter last year.



While the company&rsquo;s revenue experienced a slight year-over-year (YoY) increase of 3.9%, totaling $2.75 billion, it narrowly missed the analyst estimate of $2.76 billion. Despite this, the marginal discrepancy between the reported revenue and the expectations did not significantly impact the overall financial performance of the company.



<h2>Alamos Gold (AGI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/gold-mining-stocks1600-300x169.png" alt="Gold Nugget mining from the River in Austria, real Gold. Gold mining stocks"><div>Source: Aleksandrkozak / Shutterstock.com</div></div>Alamos Gold (NYSE:<a href="https://investorplace.com/stock-quotes/agi-stock-quote/">AGI</a>) is a gold producer with operations primarily in North America.. Higher gold prices enhance its profitability and cash flow, supporting ongoing development projects and expansions. This financial strength allows for increased dividends and strategic investments, bolstering long-term growth and shareholder value.



Bank of America (NYSE:<a href="https://investorplace.com/stock-quotes/bac-stock-quote/">BAC</a>) recently <a href="https://www.investing.com/news/company-news/alamos-gold-stock-rating-upgraded-to-buy-by-bofa-on-acquisition-announcement-93CH-3371749" target="_blank">upgraded shares</a> of Alamos Gold from Neutral to Buy, simultaneously increasing the stock&rsquo;s price target from $15.75 to $20.00. The upgrade and new price target come in the wake of Alamos Gold&rsquo;s recent move to acquire Argonaut Gold in an all-share transaction.



The brokerage firm has expressed support for the strategic acquisition, noting that it aligns with Alamos Gold&rsquo;s focus on low-risk jurisdictions and is expected to bring about significant synergies.&nbsp;



The revised price target to $20.00, equivalent to C$27.25, represents an increase from the previous C$21.75 target, reflecting a more optimistic outlook on gold prices that contributed to the upgraded rating. Bottom line, the brokerage firm suggests that the transaction is poised to enhance Alamos Gold&rsquo;s growth trajectory and operational metrics.&nbsp;



<h2>Newmont Mining (NEM)</h2>



<div><img width="300" height="199" src="https://investorplace.com/wp-content/uploads/2014/07/4-300x199.jpg" alt="gold mining stocks gold stocks gold prices"><div>Source: &copy;iStock.com/belchonock</div></div>Newmont Mining (NYSE:<a href="https://investorplace.com/stock-quotes/nem-stock-quote/">NEM</a>), the largest gold producer globally, experiences notable advantages from higher gold prices. Operating in diverse regions including North America, South America, Australia, and Africa, elevated gold prices improve its earnings, cash flow, and balance sheet strength, facilitating ongoing investments and increasing shareholder distributions through dividends.



UBS upgraded Newmont Mining stock from Neutral to Buy, with an increased <a href="https://thetradinganalyst.com/is-the-stock-market-a-zero-sum-game/#:~:text=price%20target%20increase%20from%20%2440%20to%20%2450" target="_blank">price target to $50</a>, up from the previous target of $40. The upgrade reflects a bullish outlook on gold prices, with the bank forecasting a 30% increase compared to the current consensus for the year 2025.



The positive view on gold is expected to lead to higher consensus earnings for Newmont. This upgrade comes after Newmont Mining&rsquo;s shares underperformed against both the gold price and its peers by approximately 60% since 2019.



On the date of publication, Shane Neagle did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://protect-us.mimecast.com/s/XtC3C1wq33iErOvYSGOsXg?domain=investorplace.com/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Shane Neagle is fascinated by the ways in which technology is poised to disrupt investing. He specializes in fundamental analysis and growth investing.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/3-top-stocks-to-buy-as-gold-prices-rise-in-july-2024/">3 Top Stocks to Buy as Gold Prices Rise in July 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Top Stocks to Buy as Gold Prices Rise in July 2024

Jefferies analyst Matt Murphy maintained a Buy rating on Alamos Gold (AGI – Research Report) yesterday and set a price target of $21.00. The compan...

Jefferies Reaffirms Their Buy Rating on Alamos Gold (AGI)

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Last year, gold prices surged as investors sought alternatives to hedge their portfolios against rising inflation and economic uncertainty. Gold prices increased by over 13%, and demand for the precious metal reached 4,899 metric tons. This has contributed to the profitability of the gold industry this year, making gold stocks ideal investment options in the stock market.&nbsp;



Furthermore, conflicts in the Middle East and several other global incidents have contributed to the demand for gold this year. This is evident from the performance of gold ETFs, such as SPDR Gold Shares ETF (NYSE:<a href="https://investorplace.com/stock-quotes/gld-stock-quote/">GLD</a>), which increased by over 14% year-to-date.&nbsp;



Unsurprisingly, the demand for gold stocks is at an all-time high, and many investors are interested in them. This article highlights three of the best gold stocks to invest in this July.&nbsp;



<h2>Equinox Gold (EQX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/gold1600c-300x169.jpg" alt="Gold nuggets on top of American paper money representing gold stocks"><div>Source: Shutterstock</div></div>Equinox Gold (NYSE:<a href="https://investorplace.com/stock-quotes/eqx-stock-quote/">EQX</a>) is a Canadian growth-focused mining company that operates solely in the Americas. It has <a href="https://www.equinoxgold.com/operating-mines/">eight gold mines</a> spread over several countries, including Canada, Brazil, Mexico, and the U.S., all working towards the goal of achieving over a million ounces of annual gold production.&nbsp;&nbsp;



Equinox Gold established itself as a formidable player in the gold industry at the height of the gold price surge last year. It generated over 150,000 ounces of gold during that period, and 546,000 ounces total that year. While it has not been able to replicate its previous feats this year, the company has performed reasonably well and is currently undergoing an expansion phase.&nbsp;



It recently acquired the remaining interest in Greenstone Gold Mine, a Canadian gold mining outfit. The company announced the Greenstone gold mine will begin production later this year and will be one of the <a href="https://www.equinoxgold.com/wp-content/uploads/2024/05/20240508-EQX-PR-Q1Results.pdf">largest gold mines</a> in the country.&nbsp;



On the financial front, Equinox Gold has not performed too poorly this year. Its <a href="https://www.equinoxgold.com/wp-content/uploads/2024/05/2024-Q1-EQX-FS.pdf">recent quarterly report</a> indicates decent earnings across key metrics, such as revenue and net income.&nbsp;



<h2>Alamos Gold (AGI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/gold1600-300x169.jpg" alt="Closeup of a large gold nugget. stocks under $10"><div>Source: Shutterstock</div></div>Alamos Gold (NYSE:<a href="https://investorplace.com/stock-quotes/agi-stock-quote/">AGI</a>) is a Canadian intermediate gold producer and mining outfit. It operates three gold mines across Canada and Mexico and boasts several growth projects in Turkey and the US.



The combination of a diversified asset base, life-long gold production and a portfolio of impressive, diverse, low-cost growth projects makes Alamos Gold an attractive option for stock market investors. The company&rsquo;s commitment to global sustainability practices is another factor that makes it attractive. It is notable for its low-cost production profile and advocacy for sustainable mining practices, evidenced by its latest <a href="https://esg2022.alamosgold.com/">ESG report.</a>&nbsp;



Furthermore, the company has recently embarked on an expansion phase, acquiring Argonaut Gold, a low-cost North American gold producer. It announced via a <a href="https://www.alamosgold.com/news-and-events/default.aspx#news--widget">press release</a> that it will merge both operations to create &ldquo;one of the largest and lowest cost gold mines in Canada.&rdquo;&nbsp;



The addition of the Argonaut mine is expected to increase Alamos Gold&rsquo;s production to over 600,000 per year and potentially exceed 900,000 ounces per year in the long term.&nbsp;



Financially, Alamos Gold is one of the gold industry&rsquo;s best performers. It consistently delivers strong production results, as seen by its <a href="https://s24.q4cdn.com/779615370/files/doc_financials/2023/q4/20240221-Alamos-Gold-Q4-2023-Earnings-Release-_FINAL.pdf">latest quarterly report</a> where it saw a 25% increase in revenue, generating an all-time high of $1 billion. Its earnings per share also increased by almost 500% and generated an impressive $124 million in free cash flow from operations.&nbsp;



<h2>Kinross Gold (KGC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/kinross-kgc-1600-300x169.jpg" alt="Cellphone with business logo of Canadian mining company Kinross Gold Corp. on screen in front of webpage."><div>Source: T. Schneider / Shutterstock.com</div></div>Kinross Gold (NYSE:<a href="https://investorplace.com/stock-quotes/kgc-stock-quote/">KGC</a>) is a gold and silver mining company based in Ontario, Canada. It operates six active gold mines in several countries, including Canada, Brazil, Chile, Mauritania and the U.S. Kinross Gold is a major player in the global gold industry and was ranked fifth in the &ldquo;10 top Gold-mining Companies&rdquo; list published by <a href="https://investingnews.com/world/">Investing News Network</a> in 2019.



Kinross Gold boasts several high-profile assets and subsidiaries in its portfolio, such as Red Back Mining, Eastwest Gold Corporation, Sunnyside Gold Corporation and most recently, Great Bear Resources, <a href="https://www.kinross.com/news-and-investors/news-releases/press-release-details/2022/Kinross-completes-acquisition-of-Great-Bear-Resources/default.aspx">which it acquired in 2022</a>.&nbsp;



The company has been busy this year with expansion plans, evidenced by its recent exploration and venture option agreement with Riley Gold for a gold project in Nevada. According to the terms of the deal, Kinross Gold could potentially acquire up to a 75% interest from the project, although only after investing a minimum of $20 million.&nbsp;



Kinross Gold retains immense growth potential in the gold industry, and its <a href="https://www.kinross.com/news-and-investors/news-releases/press-release-details/2024/Kinross-reports-2024-first-quarter-results/default.aspx">recent quarterly report</a> provides further evidence of this. According to the report, the company experienced an increase across key metrics, such as production and revenue. It produced over 500,000 ounces of gold, recording a 13% increase.&nbsp;



Furthermore, it generated an operating cash flow of $374.4 million for the period and reported a liquidity buffer of $2 billion.



On the date of publication, Joel Lim did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Joel Lim is a contributor at InvestorPlace.com and a finance content contractor who creates content for several companies like LTSE and Realtor, along with financial publications, including Business Insider, Yahoo Finance, Mises Institution and Foundation for Economic Education.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/the-3-best-gold-stocks-to-buy-now-july-edition/">The 3 Best Gold Stocks to Buy Now: July Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Best Gold Stocks to Buy Now: July Edition

Alamos Gold (TSE:AGI) has released an update. Alamos Gold Inc. has successfully completed the acquisition of Argonaut Gold Inc., enhancing its posi...

Alamos Gold Completes Argonaut Acquisition

Alamos Gold (TSE:AGI) has released an update. Alamos Gold Inc. has strategically positioned itself for greater financial gains by removing over hal...

Alamos Gold Enhances Market Position and Future Cash Flow

Alamos Gold sells majority of Argonaut Gold hedge book in $116M deal

CIBC analyst Cosmos Chiu maintained a Buy rating on Alamos Gold (AGI – Research Report) today and set a price target of C$38.00. The company's shar...

CIBC Keeps Their Buy Rating on Alamos Gold (AGI)

Commodity Roundup: Gold near fresh record high, China demand concerns weigh on oil

In a report released today, Ovais Habib from Scotiabank maintained a Buy rating on Alamos Gold (AGI – Research Report), with a price target of $20....


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