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  • 15 Trending Stocks in Gold Industry

    15 Trending Stocks in Gold Industry

    For the second day, gold prices continued to increase, edging to a two-week peak. A downward trend in Treasury yields seemed to accelerate the step upwards, enhancing the metal’s attractiveness as an alternate value store. The rate on the 10-year benchmark note dropped and flattened the yield curve. A discrete catalyst is not quickly evident.
    Moving forward, a relatively quiet day on the economic data front could give way to sentimental trends as the primary driver of price action. Bellwether S&P 500 futures point higher, signaling a risk-taking tilt that pulls higher yields and weighs on bullion.

    Gold Standard Ventures Corp (AMEX:GSV) shares were trading up 9.68% at $0.81 at the time of writing on Tuesday. The company reported on December 2, 2020,completion of CEO succession with the appointment of Jason Attew as President and CEO.

    Gold Standard Ventures Corp (AMEX:GSV) share price went from a low point around $0.27 to briefly over $1.14 in past 52 weeks, though shares have since pulled back to $0.81. GSV market cap has remained high, hitting $255.25M.

    If we look at the recent analyst rating GSV, B. Riley FBR initiated coverage on GSV shares with a Buy rating.

    Agnico Eagle Mines Limited (AEM) last closed at $73.02, in a 52-week range of $31.00 to $89.23. Analysts have a consensus price target of $95.94.

    Harmony Gold Mining Company Limited (HMY) stock soar by 0.89% to $4.51. The most recent rating by JP Morgan, on February 21, 2019, is at an Overweight.

    Gold Fields Limited (NYSE:GFI) Shares headed rising, higher as much as 0.88%. The most recent rating by RBC Capital Mkts, on September 15, 2020, is at a Sector perform. On November 12, 2020,Gold Fields provided operational update for the quarter ended 30 September 2020.

    Coeur Mining Inc. (NYSE:CDE) rose 0.83% after gaining more than $0.07 on Tuesday. The company will be hosting its 2020 Investor Day virtually on Thursday, December 17, 2020 at 8:30 a.m. Central Time (9:30 a.m. Eastern Time).

    Wheaton Precious Metals Corp. (WPM) last closed at $42.24, in a 52-week range of $18.66 to $57.89. Analysts have a consensus price target of $60.83.

    Sibanye Stillwater Limited (SBSW) stock soar by 0.34% to $14.94. The most recent rating by BMO Capital Markets, on November 11, 2020, is at an Outperform.

    NovaGold Resources Inc. (AMEX:NG) Shares headed rising, higher as much as 0.29%. The most recent rating by B. Riley FBR Inc., on December 19, 2017, is at a Buy.

    Newmont Corporation (NYSE:NEM) rose 0.11% after gaining more than $0.07 on Tuesday after reportingthat its 2021 outlook with attributable gold production guidance of 6.5 million ounces and AISC of $970 per ounce.

    Barrick Gold Corporation (GOLD) last closed at $23.90, in a 52-week range of $12.65 to $31.22. Analysts have a consensus price target of $33.67. The corporation on November 26, 2020 announced that it has retained its listing in the prestigious Dow Jones Sustainability Index’s (DJSI) World Index, ranking in the 95th percentile of all mining companies assessed.

    Hecla Mining Company (HL) stock drop by -0.37% to $5.32. The most recent rating by ROTH Capital, on October 27, 2020, is at a Buy.

    On November 18, 2020, Hecla Mining Company (HL)revealed that a wholly owned subsidiary of Hecla has acquired an aggregate of 807,846 Shares of Dolly Varden Silver Corporation.

    Alamos Gold Inc. (NYSE:AGI) Shares headed falling, lower as much as -0.43%. The most recent rating by Desjardins, on September 09, 2020, is at a Buy.

    Alamos Gold Inc. (AGI) on November 24, 2020 reported that the Company’s Board of Directors has declared a quarterly dividend of US$0.02 per common share.

    Kirkland Lake Gold Ltd. (NYSE:KL) fall -0.48% after losing more than -$0.2 on Tuesday. On December 3, 2020, the company reportedclosing of sale of Novo shares and warrants.

    Gold Resource Corporation (GORO) last closed at $3.42, in a 52-week range of $2.02 to $6.24. On November 25. 2020. The company reported its monthly instituted dividend of one-third of a cent per common share for November 2020 payable on December 23, 2020 to shareholders of record as of December 11, 2020.

    Eldorado Gold Corporation (EGO) stock drop by -0.68% to $13.13. The most recent rating by RBC Capital Mkts, on October 09, 2020, is at a Sector perform. Eldorado Gold Corporation (EGO) on December 2, 2020 released its updated Reserve and Resource estimates as of September 30, 2020.

  • Kirkland Lake Gold Ltd. (KL) confirmed the Sale of Novo Shares and Warrants

    Kirkland Lake Gold Ltd. (KL) confirmed the Sale of Novo Shares and Warrants

    Kirkland Lake Gold Ltd. (NYSE: KL) group has entered into an arrangement on behalf of Kirkland Lake Gold with Stifel GMP and Clarus Securities Inc. as agents to arrange the selling of 18,500,000 units at a rate of $2.45 per unit for total proceeds of $45,325,000 to Kirkland Lake Gold. Every unit consists of one common share of Kirkland Lake Gold-owned Novo Resources Corp. and one-half of Kirkland Lake’s common share purchase warrant. Each Warrant shall entitle the holder thereof, for a period of 12 months from the date of issue, to obtain one additional Novo Share held by Kirkland Lake Gold at an exercise price of $2.80. The selling of the Unit Shares will take place in Canada by block dealing and the sale of the Warrants will take place on a private placement basis. The selling of both the Unit Shares and the Warrants will be made on a private placement basis in the United States.

    The sale agreement is expected to close on or before December 3, 2020, or any other date decided between the dealers and Kirkland Lake Gold and is subject to certain conditions.

    The securities to be issued in the Selling Agreement have not been and may not be licensed under the U.S. Securities Act of 1933, as amended, or other state securities regulations, and can therefore not be offered or sold within the U.S. or to or for the account or profit of a U.S. citizen or a person outside the U.S. Securities Act and related conditions on state securities or waivers from them. This press release does not represent an offer to sell or an offer to purchase any of the shares in the United States of America.

    Upon closing of the Selling Deal and assuming the full sale of the Warrants, 135,168 Novo Shares will be held by Kirkland Lake Gold. Kirkland Lake Gold has negotiated with the dealers that, subject to customary exceptions, the outstanding Novo shares will be subject to a 30-day lock-up clause.

    Kirkland Lake Gold would have sold 18,500,000 Novo Shares as a part of the Units upon completing the Sale Deal. Unit purchases would have $45,325,000 in net gross proceeds. Sales of the units to the vendors would be made by block exchange.

    Kirkland Lake Gold owned 27,885,168 Novo Shares prior to the selling deal, comprising roughly 12.1 percent of Novo’s stake. Kirkland Lake Gold will retain 9,385,168 Novo shares reflecting an estimated 4.1 percent stake in Novo upon the close of the sale deal.

    In the case of the complete exercise of the Warrants representing part of the Units, Kirkland shall dispose of a further 9,250,000 Novo Shares with a valuation of $2.80 per Novo Share, for an additional gross proceeds of $25,900,000 to Kirkland Lake Gold. This more clause would result in a further reduction in Kirkland’s Novo shareholding, resulting in the holding of 135,168 Novo shares by Kirkland Lake Gold, or about 0.05 percent of Novo shares currently issued and outstanding.

    An immediate source of capital for the company of Kirkland Lake Gold is given by the disposal of Novo Shares. While Kirkland Lake Gold currently has no immediate plans or intentions with regard to Novo Shares, Kirkland Lake Gold may establish certain plans or intentions with regard to Novo Shares, depending on market conditions, general economic and industrial conditions, Novo Shares’ trading rates, Kirkland Lake Gold’s company, financial condition and prospects, and/or other related factors, including Kirkland’s financial position and liquidity,

    In conjunction with the closure of the Sale Deal, Kirkland Lake Gold will file an early warning notice under National Instrument 62-103. As Kirkland Lake Gold will have reduced its Novo security holdings by less than 10 percent, following the above-noted early warning report request, it will no longer be necessary to report under the National Instrument 62-104 Take-Over Bids and Issuer Bids early warning provisions, until its Novo security holdings rise to 10 percent or more in the future.