7 NYSE Gold Stocks Hit New Highs As The Up Trend Rolls On

Introduction to the Rising Gold Sector

The gold sector has been experiencing a notable bullish trend, with several stocks consistently reaching new highs. This surge is driven by both human investors and algorithmic trading, which are drawn to the sector’s momentum. While predicting the sustainability of this trend is challenging, the current upward trajectory indicates a strong investor interest in gold stocks.

Alamos Gold (NYSE: AGI) and ASA Gold and Precious Metals (NYSE: ASA)

Alamos Gold, based in Toronto, has seen its stock rise to a recent high of $25.36. The company’s moving averages show a bullish signal, with a 50-day average above the 200-day counterpart, suggesting sustained growth. With a market cap of $10.57 billion and a dividend yield of 0.40%, Alamos Gold offers stability and moderate returns.

ASA Gold and Precious Metals, an ETF managed by Merk Investments, recently broke through a resistance level, reaching $27.15. Its smaller market cap and lower volume indicate it’s a niche player, but with a 0.15% dividend, it appeals to those seeking diversification through an ETF.

DRDGold (NYSE: DRD) and Franco Nevada (NYSE: FNV)

DRDGold, a South African miner, hit a high of $14.22, reflecting strong earnings growth. Its moving averages remain bullish, and with a 0.98% dividend, it’s attractive for income-focused investors. Franco Nevada, another Toronto-based company, boasts a significant market cap and a 0.99% dividend. Its stock reached $153.35, supported by strong moving averages, indicating long-term strength.

Gold Fields (NYSE: GFI) and Triple Flag Precious Metals (NYSE: TFPM)

Gold Fields, with operations in South Africa, saw its stock climb to over $20.50. The company’s earnings growth and a higher dividend yield of 4.30% make it a compelling option. Triple Flag Precious Metals, despite lower trading volume, offers a 1.16% dividend and has broken through previous resistance levels, signaling potential for further growth.

Wheaton Precious Metals (NYSE: WPM)

Wheaton Precious Metals stands out with a new high of $75, driven by its diversified operations across 18 mines. The company’s moving averages consistently indicate bullish momentum, and its substantial market cap of $33.49 billion provides stability. With a 1.51% stock gain, Wheaton reinforces the strength of the precious metals sector.

Conclusion and Considerations

The bullish trend in gold stocks is evident, with companies like Alamos Gold, ASA Gold, DRDGold, Franco Nevada, Gold Fields, Triple Flag Precious Metals, and Wheaton Precious Metals leading the charge. While these stocks show promising signs, potential investors should consider factors like market cap, P/E ratios, and dividend yields. Consulting financial advisors and conducting thorough research are recommended, as investment decisions carry inherent risks.

Sources: FinViz.com, Stockcharts.com.