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Highlights
- Gold prices retreated on Friday after sharply increasing to over US$1,900/oz mark on Thursday for the first time since June 2021.
- The gold is generally considered to be a hedge against rising inflation. But the year 2021 was one of the most disappointing years for gold investors as it gave marginally negative returns.
After a rapid rise in gold prices during the pandemic, the prices of the yellow metal have plunged due to weakening demand from investors and central banks. The gold is generally considered to be a hedge against rising inflation. But the year 2021 was one of the most disappointing years for gold investors as it gave a marginally negative return.
Gold prices retreated on Friday after sharply increasing to over US$1,900/oz mark on Thursday for the first time since June as investors drove towards safe haven assets after US President Joe Biden said there are indications that Russia is planning to invade Ukraine. Silver prices were also moderately up but not like the yellow metal. Analysts are expecting gold prices to move substantially if the tension between Russia and Ukraine continues to escalate.
On Friday (17 February), Gold Future prices slipped by 0.43% to US$1,893.85/oz and spot gold fell by 0.35% to US$1,891.69/oz, at 06:00 AM (BST).
Let us take a look at 5 FTSE-listed gold stocks that have given positive one-year return to its investors.
Pan African Resource Plc (LON: PAF)
Pan African Resource Plc is an AIM-listed mid-tier African-focused gold producer. The gold production increased by 9.9% to 108,085oz in the six-month ended 31 December 2021, as compared to 98,386oz for the same period in 2020. Net cash generated by operating activities increased by 54.5% to US$43.4 million from US$28.1 million for the same period in 2020.
Pan African Resource Plc’s shares were trading at GBX 20.55, down by 2.14%, at 8:05 AM (BST) on 18 February 2022, with the market cap of £404.95 million. In last one year, the stocks have appreciated and the one-year return stands at 11.9% as of 18 February.
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SolGold Plc (LON: SOLG)
SolGold Plc is leading exploration company, with focus on discovery, definition and development of gold, copper and other minerals in Australia, Ecuador, Queensland, and Solomon Island. The company reported loss after tax of US$ US$17,830,655 for the half year ended 31 December 2021 as compared to loss of US$8,840,350 for the same period in 2020.
SolGold Plc’s shares were trading at GBX 27.15, at 8:05 AM (BST) on 18 February 2022, with the market cap of £622.77 million. Its one-year return stands at 18.06% as of 18 February.
Xtract Resources Plc (LON: XTR)
Xtract Resources Plc is an AIM-listed resource, development, and mining company, with a focus to acquire brown field resource projects. Its projects include Manica Gold, Manica Alluvials, Bushranger Copper/Gold, Eureka Copper and Kalengwa Processing Copper project. The company recently announced that its drill hole BRDD-21-020 has successfully completed on the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project.
Xtract Resources Plc’s shares were trading at GBX 6.30, at 8:05 AM (BST) on 18 February 2022, with the market cap of £53.24 million. Its one-year return stands at 13.5% as of 18 February.
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.
