Greatland Gold, AltynGold: Stocks you may look at in March

Highlights 

• Gold has emerged as the best-performing asset class in 2022 so far as the yellow metal prices rose once again above US$1,900, which is its highest level since June 2021.
• In February, the safe-haven asset rose about 6.5% hitting an 18-month high.
• Investors usually choose to invest in Gold during times of economic uncertainty as it offers an excellent hedge against market volatility and inflation.

 

The ongoing geopolitical tension between Russia and Ukraine and unprecedented sanctions imposed by Western countries on Russia have made the yellow metal the most sought-after asset class. The gold prices touched US$1,971.50 per ounce on 24 February 2022, which was the highest in the last one year. On 2 March, the gold prices are at US$1,939.90, down by 0.20%. In February, the safe-haven asset rose about 6.5% hitting an 18-month high.

Historically, investing in gold is considered as a hedge against inflation as it typically gives higher returns than inflation. Investors usually choose to invest in Gold during times of economic uncertainty as it offers an excellent hedge against market volatility and inflation. Since the Russia-Ukraine war started, more investors are moving towards gold to protect themselves from the volatility of the stock markets. However, purchasing gold stocks instead of 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.

© 2022 Kalkine Media®

At the time of writing, Gold Spot was trading at US$1,950.10, up by 0.32% from its previous closing of US$1,943.8.

Let us look at five FTSE-listed gold stocks that you may consider:

Centamin Plc (LON: CEY)

FTSE 250-listed Centamin Plc is a gold mining company with operations in the Sukari Gold Mine in Egypt. It has a secondary listing on the Toronto Stock Exchange.

The company’s market cap stands at £1,147.20 million as of 1 March 2022. It has delivered a return of 2.7% to its shareholders over the last one year as of 1 March 2022, it has performed well in 2022 and its year-to-date return stands at 11.7%. Centamic Plc’s shares were trading at GBX 105.85, up by 1.93%, around 8.10 AM on 2 March 2022.

Also Read: POLY & EVR: How soon can these metal & mining stocks recover?

AltynGold Plc (LON: ALTN)

AltynGold Plc is a gold mining, exploration and development company with mineral resources located in Kazakhstan. The company’s market cap stands at £34.99 million as of 1 March 2022. It has delivered a return of 5.8% to its shareholders over the last one year as of 1 March 2022, it has performed well in 2022 and its year-to-date return stands at 11.8%. AltynGold Plc’s shares were at GBX 125.25 around 8.10 AM on 2 March 2022.

Pan African Resources Plc (LON: PAF)

Pan African Resources Plc is a mid-tier African-focused gold producer, engaged in gold mining and exploration. The FTSE AIM 100-listed company’s market cap stands at £418.45 million as of 1 March 2022. It has delivered a return of 29.8% to its shareholders over the last one year as of 1 March 2022, it has performed well in 2022 and its year-to-date return stands at 29.9%. Pan African Resources Plc’s shares closed trading at GBX 22.55, around 8.10 AM on 2 March 2022.

© 2022 Kalkine Media®

Endeavour Mining Plc (LON: EDV)

Endeavour Mining Plc is one of the world’s leading gold producers. It has a secondary listing on the Toronto Stock Exchange. The FTSE 250-listed Company’s market cap stands at £4,941.12 million as of 1 March 2022. It has performed well in 2022 as its year-to-date return stands at 18.56%. Endeavour Mining Plc’s shares were trading at GBX 2,070.00, up by 1.47%, around 8.10 AM on 2 March 2022.

Also Read: After BP (BP.), Shell (SHEL) calls it quits in Russia: Should you buy now?

Greatland Gold Plc (LON: GGP)

Greatland Gold Plc is a FTSE AIM 100-listed development and exploration company with a focus on tier-one copper and gold deposits. The company’s market cap stands at £547.90 million as of 1 March 2022. Its share value has depreciated by -42.27% over the last one year as of 1 March 2022, However, it hasn’t performed well in 2022 and its year-to-date return stands at -18.81%. Greatland Gold Plc’s shares were trading at GBX 12.75, down by 0.39%, at 8:10 AM (GMT) on 2 March 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.