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Gold became the ultimate safe haven amid the COVID-19 outbreak and volatile market condition of 2020. Investors started adding gold to their portfolio after the pandemic-led market meltdown that guided the yellow metal to hit an all-time high of US$ 2,073.41 per ounce in August 2020.
As the unprecedented gold rally has delivered solid returns to investors, let us glance at the top gold stocks of 2020:
1. B2Gold Corp. (TSX:BTO)
The precious metal stock has withstood the COVID-19 pandemic and doubled its quarterly cash dividend to US$ 0.04 per stock. B2Gold stocks have yielded over 38 per cent returns year-to-date (YTD). The stock offers a return on equity (ROE) of 29.08 per cent and a return on assets (ROA) of 21.15 per cent.
2. Barrick Gold Corporation (TSX:ABX)
The giant gold company has provided a cash dividend of US$ 0.09 per share in Q3 2020 against US$ 0.05 per unit in 2019, with a present dividend yield of 1.589 per cent. Its stock offers a double-digit return on equity of 13.61, as per the TMX portal. The stock is up 22 per cent YTD.
3. Kirkland Lake Gold Ltd. (TSX:KL)
This yellow metal stock has rebounded nearly 68 per cent growth since its March lows. The stock delivers an ROE of 27.01 per cent and a ROA of 15.66 per cent. The gold firm pays a quarterly cash dividend of US$ 0.188, with 3-year dividend growth of 114.03 per cent.
4. Agnico Eagle Mines Limited (TSX:AEM)
The gold miner stock has increased by over 12 per cent YTD. Its current ROE stands at 12.01 per cent. It holds a quarterly dividend of US$ 0.35, with a current dividend yield of 2.016 per cent.
5. Yamana Gold Inc. (TSX:YRI)
The gold stocks have delivered over 40 per cent growth YTD. The firm has distributed a quarterly cash dividend of US$ 0.026 per common stock. Its ROE is 2.62, as per TMX data.
6. Kinross Gold Corporation (TSX:K)
The yellow metal scrips are advanced over 54 per cent this year. The gold corp. stock is offering an ROE of 19.74 per cent and a ROA of 11.32 per cent. The firm distributes a quarterly dividend of US$ 0.03.
7. New Gold Inc. (TSX:NGD)
The mid-cap gold stock has zoomed over 147 per cent in 2020 and delivered top active volume performance. However, the stock delivers a negative ROE, as per TMX data.
8. Franco-Nevada Corporation (TSX:FNV)
This large-cap gold stocks have added over 25.5 per cent growth this year. It has consistently paid out a quarterly cash dividend of US$ 0.26 per unit in 2020. The stock’s ROE is 5 per cent.
9. Centerra Gold Inc. (TSX:CG)
The Toronto-based gold miner stocks have soared over 46 per cent in 2020. The mid-cap firm pays a quarterly dividend of C$ 0.05 per common share. Its stocks offer an ROE of 13.08 per cent and a ROA of 10.22 per cent.
