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Highlights:
- Barrick Gold Corp paid a quarterly dividend of US$ 0.15 per share.
- Wheaton Precious Metals has an EPS of 1.06 and a P/E ratio of 25.20.
- Franco-Nevada reported a Q3 2022 revenue of US$ 304.2 million.
The TSX Gold Index comprises producers of gold and related products. It also includes companies engaged in the mining or processing of gold. The sector is an all-important part of the Canadian equity market and there are many gold mining stocks in Canada. However, in a volatile market condition, has it performed well?
Amid, we take a look at 3 TSX gold stocks and the latest developments around them:
Barrick Gold Corporation (TSX:ABX)
Barrick Gold Corp is among the oldest gold producers in the world operating mines in North America, South America, Australia, and Africa. With a dividend yield of 3.157 per cent, it paid a quarterly dividend of US$ 0.15 per share.
Barrick Gold Corporation recently said it had finished the reconstitution of the Reko Diq project. The company announced on January 10 that its fourth quarter of 2022 results will be released on the 15th of February 2023.
Barrick Gold achieved an operating cash flow of US$ 758 million in the third quarter of 2022. In Q3 2022, the realized gold price was the company was US$ 1,722 per ounce compared to US$ 1,771 per ounce in Q3 2021.
Notably, the company’s gold production was 988,000 ounces in the third quarter of 2022. Meanwhile, the copper production jumped to 123 million pounds from 100 million pounds in Q3 2021.
Its net earnings in Q3 2022 were US$ 241 million compared to US$ 347 million in the year-ago quarter.
The ABX stock gained 10.47 per cent in a year and 21.8 per cent in the last six months. It outperformed many stocks on the TSX gold stocks list.
Wheaton Precious Metals Corp. (TSX:WPM)
Wheaton Precious Metals has signed more than 20 long-term purchase agreements with 17 mining companies. The precious metal streaming company Wheaton has an EPS of 1.06 and a P/E ratio of 25.2.
Wheaton registered revenue of US$ 219 million and an operating cash flow of US$ 154 million in the third quarter of 2022.
The net earnings of the company were US$ 196.46 million, up 45.6 per cent year-over-year (YoY).
The company said it made an upfront cash payment of US$ 47 million relative to PMPAs (precious metal purchase agreements) in the third quarter of 2022.
Wheaton recently stated its commitment to net-zero carbon emissions by 2050. In the last three months, the WPM stock was up 33.3 per cent and 17.1 per cent in a year.
Franco-Nevada Corporation (TSX:FNV)
Precious-metals-centric royalty and investment company Franco-Nevada Corp generates most of its revenue from gold, silver, and platinum.
Franco-Nevada paid a quarterly dividend of US$ 0.32 per share with a dividend yield of 0.895 per cent.
Franco-Nevada partnered with its operators on community and ESG initiatives and committed to adhering to the World Gold Council's "Responsible Gold Mining Principles."
It reported a Q3 2022 revenue of US$ 304.2 million compared to US$ 316.3 million in the same period in 2021.
The gross profit of Franco-Nevada in Q3 2021 was US$ 193.7 million versus US$ 201.3 million in Q3 2021.
The FNV stock relatively gained 5.58 per cent in a month and outperformed the index, which gained 2.73 per cent.
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Bottom line:
Market volatility can upend any situation and stock, hence, research is important before placing a bet in the market.
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.
