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Highlights
- Gold price has hit its one-year high on Thursday, touching US$1,971.50 per ounce, as compared to US$1,948.77 per ounce in January 2021.
- Gold has been historically used as a hedge against inflation as it typically provides returns higher than inflation.
- Purchasing gold stocks instead of the physical metal may be more advantageous and yield better returns.
While the Russian invasion of Ukraine is rattling the global stock markets, investors are panicking and moving away from stocks to safe havens. The first safe-haven asset which comes to mind is gold and has climbed to US$1,971.50 per ounce on 24 February 2022. The gold price has hit its one-year high now after touching US$1,948.77 per ounce in January last year. As per experts, gold prices may cross US$2,000 per ounce in the coming days if the Russia-Ukraine tensions intensifies.
Gold has been historically used as a hedge against inflation as it typically provides returns higher than inflation. To protect themselves from the volatility of the stock markets, investors are removing shares from their portfolio and buying gold, however, purchasing gold stocks instead of the physical metal has quite a few benefits. A key benefit of investing in gold stocks is the higher total return that you may get due to the cost cuts and expansion of production. Nevertheless, all gold stocks may not yield high returns and therefore it is essential for investors to carry out an in-depth analysis prior to investing in gold stocks.
Let’s look at 5 gold stocks which you may add to your portfolio for good returns.
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Pan African Resources plc (LON: PAF)
The current market cap of the FTSE AIM 100 Index constituent, Pan African Resources, stands at £411.70 million as of 24 February 2022. The company has performed quite well over the last one year and has delivered a return of 17.33% to its shareholders, while its year-to-date return stands at 20.86% as of 24 February 2022. Pan African Resources plc’s shares closed at GBX 22.60, up by 5.85%, on 24 February 2022.
AltynGold Plc (LON:ALTN)
The current market cap of the gold ore mining firm stands at £36.76 million as of 24 February 2022. The company has performed decently over the last one year and has delivered a return of 8.01% to its shareholders, while its year-to-date return stands at 13.89% as of 24 February 2022. AltynGold plc’s shares closed trading at GBX 131.00, down by 2.60%, on 24 February 2022.
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Wheaton Precious Metals Corp. (LON:WPM)
The current market cap of the Canadian mining firm, Wheaton Precious Metals Corp., stands at £14,360.02 million as of 24 February 2022. The company has performed well over the last one year and has delivered a return of 19.00% to its shareholders, however its year-to-date return stands at 4.52% as of 24 February 2022. Wheaton Precious Metals Corp’s shares closed trading at GBX 3,275.00, up by 2.83%, on 24 February 2022.
Endeavour Mining plc (LON: EDV)
The current market cap of the FTSE250 constituent, Endeavour Mining plc, stands at £4,691.20 million as of 24 February 2022. The company got listed on the LSE recently in June 2021 and has delivered a return of 20.96% to its shareholders since the beginning of 2022. Endeavour Mining plc’s shares closed at GBX 1,925.00, up by 1.85%, on 24 February 2022.
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Centamin plc (LON: CEY)
The current market cap of the FTSE250 constituent, Centamin plc, stands at £1,115.28 million as of 24 February 2022. The company hasn’t been able to perform well over the past one year and has given a return of -7.54%, however, its performance has improved since the start of 2022 and its year-to-date return stands at 12.95%. Centamin plc’s shares closed trading at GBX 99.90, up by 3.59%, on 24 February 2022.
Note: The above content constitutes a very preliminary observation or view based on industry trends 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.
