4 Gold And Silver Mining Stocks To Buy Right Now

These efforts ensured that the company will have enough cash to continue its operations and stave off any bankruptcy risk. It’s also successfully brought back production to pre-pandemic levels. NGD’s turnaround is impressive. However, it still has more upside, as prices are 80% lower than when gold was at its previous high in 2012.

NGD’s promising outlook is reflected in its POWR Ratings; it has a Strong Buy rating with an “A” for Trade Grade, Buy & Hold Grade, and Peer Grade. Out of 30 gold mining stocks, it’s ranked #2.

Fortuna Silver Mines (FSM)

FSM is another miner showing relative strength compared to its peers. While most stocks in the sector have slid lower with gold and silver, FSM has remained range-bound between $6 and $8.  This is a positive leading indicator that shares are under accumulation. 

In part, it’s due to the company’s success in ramping up production back to pre-coronavirus levels of 2 million ounces per quarter. FSM’s all-in cost for silver is around $10.80 per ounce. Therefore, the company is quite profitable at current prices, especially as it expects to continue increasing production.

The POWR Ratings are bullish on the stock as it has a Buy rating. It has an “A” for Trade Grade and Peer Grade, with a “B” for Buy & Hold Grade. It’s ranked #3 out of 12 silver mining stocks.

Newmont Gold (NEM)

Newmont is the largest gold producer in the world. The company is very attractive from a valuation perspective, with a forward price-to-earnings ratio of 14. Due to higher gold prices and more production, it expects earnings to rise by 68% in 2021 and by 34% annually over the next five years. It also pays a 2.6% dividend yield, as well. 

On a technical basis, NEM looks quite intriguing as the stock has been range-bound since April, trading between $60 and $70. This consolidation is happening at the same level that the stock topped in 2012. Given my bullish forecast for precious metals, I believe NEM will break higher from this range.

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