ARTG, RUP, NFG & more: 5 TSXV gold stocks to hedge against market crash

Gold is often viewed as a healthy heading option to tackle an inflationary and weak economic environment. Investors can also see gold as an option to profit from price hikes in the short run.

Gold prices closed at US$ 1838.08 on Tuesday, May 10, down from the US$ 2053.5-mark achieved on March 8.

Here are five TSXV gold stocks that one can explore to benefit from gold’s contrarian price spikes.

1.     Artemis Gold Inc (TSXV: ARTG)

Artemis Gold is targeting to commence early works construction at its Blackwater Gold Project in the second quarter of fiscal 2022. The small-cap gold miner saw its stock swell by roughly 12 per cent in the last nine months.

Notably, ARTG stock’s Relative Strength Index (RSI) value was above 30 in 2022, and currently, it stands at 42.42, according to Refinitiv.

2.     Rupert Resources Ltd (TSXV: RUP)

Stocks of Rupert Resources jumped by over 10 per cent in the last five days and were approximately 23 per cent down from a 52-week high of C$ 6.77 (April 4).

As per Refinitiv data, RUP scrip was on an upward trajectory in March and breached the RSI value of 70. However, its RSI value stood at 47.78 as of May 9.

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3.     New Found Gold Corp (TSXV: NFG)

New Found recently made two new gold discoveries at its Queensway project in Newfoundland. Also, Eric Sprott, a known Canadian investor, acquired 8,250,000 NFG shares at C$ 8.35 apiece for a total consideration of C$ $68,887,500 in April.

NFG stock plummeted by over eight per cent year-over-year (YoY) and presently has an RSI value of 43.95.

4.     Osisko Development Corp (TSXV: ODV)

Osisko Development Corp aims to become the next mid-tier gold company and is engaged in advancing gold properties in British Columbia and Mexico.

ODV stock slipped by over 48 per cent since May 10, when it recorded a 52-week high of C$ 23.33. As per Refinitiv, ODV scrip had an RSI value of 41.68 at the time of writing this.

5.     Prime Mining Corp (TSXV: PRYM)

Prime Mining Corp is working on the Los Reyes project, a  gold and silver property in Mexico. The C$ 287 million market cap company posted C$ 27.41 million in cash and C$ 41.78 million in total assets as of December 31, 2021.

The precious metal miner saw its stock plunge by almost 26 per cent in the last 52 weeks. PMRY’s RSI value was at 33.57 as of May 9.

Bottomline

Canadian investors can explore these TSXV gold stocks to earn notable gains. These TSXV stocks seem to have drawn investors’ attention in the past based on their RSI data taken from Refinitiv.

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Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.