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Best Gold Mining Stocks to Buy in 2020

As loyal readers know, I follow a few different YouTube channels that largely cover finance.  One of them is The Right Trader, who I got into back in 2017 when they started covering cryptocurrency.  They recently put out a guide to dividend stock investing in 2020, which I highly urge you to read.  You’ll see that some of the top gold mining stocks also pay dividends, and they are covered in the video and transcription below.

Which Gold Mining Stocks Are Good Buys in 2020?

As many of you know, I’m very fond of gold investing.  Not just in physical gold for retirement, but also gold companies, because many of them pay dividends, which I love.  Enjoy this one!

Matthew: Hey, what’s going on everyone? Matthew from the righttrader.com back again today with another video. We’re going to be talking about the best gold mining stocks. Usually, when I make these videos, it’s for a specific year. However, this isn’t going to be specific to any year because these gold stocks will presumably be around for the long term and also presumably perform well over the long term.

I didn’t want to set a specific year for these ones because gold stocks are often heavily linked to the price of gold obviously. When the price of gold is going up, these gold mining stocks tend to have a really strong reaction to that, hopefully, towards the upside of course. The good thing with the stocks that I’m going to show you today are that they are also sturdy and doing good most of the time.

Even when it isn’t the most bullish times or maybe even a little bit bearish for gold, these are stocks that still hold up well. The reason why that’s so important is that because a lot of these gold mining stocks, they do good when the price of gold spikes and then they just go crashing back down. First stock of the list is going to be Barrick Gold Corporation. Its ticker is pretty easy to remember just GOLD.

This one is one of the bigger gold stocks out there, gold mining stocks. Now, it has a dividend of 1.15% which is always really nice to have a little dividend there. so something that can compound. It’s been paying it out for years and years and years as you can see. If I go over to the max chart here, you’re going to see this really nice cup and handle pattern that’s forming.

Overall, we just have a non-stop uptrend minus the slump that it had here, but other than that, this stock is trending upwards especially now as it’s moving back towards its all-time high around $30. I think that in 2020, we might even push above that and start pushing into that 30 plus area. Like I said, these are stocks that should be around for a long time. There’s definitely room to really get some move higher here on Barrick.

Even though it is one of the bigger ones, it still has that nice price movement and a great pattern that’s forming. Cup and handle pattern, I’ve talked about it many times. This is the pattern here where we have the drop, the base, and then the move higher again. If we look at the chart, we got the drop, the base, and the move higher again. Exactly the same thing and we got that beautiful uptrend as well.

Moving on to the second stock, we’re going to have FNV. FNV is also involved in other things like gas, but it is one of the gold mining stocks as well. The market cap of $20 billion, a little bit on the bigger side as well. Dividend right under a dollar. Some similarities with Barrick, however here we don’t really have any extended slumps. We have a really nice long-term uptrend that hasn’t been broken at all basically.

We’ve got those dividend payments as well, very consistent, and a beautiful uptrend. It’s not easy to find gold type stocks or even oil stocks that go up like this non-stop up trending because usually they’re heavily affected that by the price of the underlying commodity. It’s a really good sign when they can hold up and an uptrend like this regardless of if the commodity is bearish or bullish.

A really good sign and that something that I look for because when I make these videos, I always try to bring the safest, best, sturdiest, performing stocks available. Keep in mind, these videos aren’t financial advice. These are just my personal opinion. Now, next up we’ve got Kirkland Lake Lake gold. Smaller dividend 0.55%, however really interesting performance.

This is one that was very small in the past, $2-3$ stock, and absolutely ran up to crazy levels all the way up to almost $50 here recently. We’ve just got a massive exponential move higher as of 2017. Although it can be maybe concerning to invest when it’s this high, the upside of this is it’s entering a whole different league and the uptrend is still looking good. I think that this is one of the companies that was smaller, but that really was able to find its footing and grow significantly. It also is paying out dividends now as of 2017.

A lot of things going for it obviously. It is at all-time highs, it is at a high point, but that’s not to say that it’s a bad thing. Currently, a little bit under $10 million. This could definitely be one of the stocks that becomes bigger like, for example, Barrick Gold which I showed at the beginning of the video. Now, let’s go ahead and take a look at our next stop here, which is going to be IAMGOLD Corporation.

This is one of the smaller gold stocks that I’ll be showing in this video. Market cap of $1.6 billion, which is always nice because obviously the smaller the market cap, the more room for growth and it’s a cheap stock. If we look at the chart here, you’ll see that this one had a few ups and downs and is not at a high point right now. Although there were some stocks that I had to X out of this video because they were downtrending when gold was doing well. That’s not something that I like to see.

This one, however, the reason why I don’t really mind the fact that it’s not at its highest point is that we did start to move back higher again and we have pretty much completely tested our all-time low level at around $2.25. You’ll see on this line right here is that low that I’m talking about, and we tested that again right here and now bounced off it. We temporarily did below that over here, but basically, we are moving above that now. That’s what I really like to see.

If we can get back to those levels around $15 or $20, that’s going to be a significant increase that you’re not going to be able to find maybe in some of these other stocks. It will, however, come with more risk obviously. Finally, for the last stock of the video, we’re going to be talking about Yamana Gold. This is also a bit on the smaller side, $3.6 billion in market cap, 1.11% dividend, so nice dividend there as well.

Once again, this one did have a big drop, however, it remained above its all-time low at around $2.50. This one is even more nicely moving higher, now pushing that $4 level. This one is also fully out of its longer-term downtrend. I really like the set up on this one just because it’s a little bit stronger than IAMGOLD. I think that we’re going to see it get back towards $10 in the coming years and even potentially above that.

Remember, gold is a safe haven when markets are doing bad. Right now, people are worried about the economy and everything, so they’re looking towards these gold mining stocks. If you can find gold mining stocks that not only do good when people are worried and are buying gold, that’s really the best of both worlds because you can have it in your portfolio as a backup and a safety barrier.

With that being said, this is the end of this video. Hopefully, you enjoyed it. If you did, please make sure to leave and subscribe for more. Also, I’m going to have a best gold ETF video that’s going to be linked with this coming out probably later today, so make sure to keep looking for that in the description. Also, don’t forget to check out my technical analysis master course where I cover everything you need to know about technical analysis for less than $20.

It even comes with a 30-day money-back guarantee, link to that in the description of this video. Thanks for watching everyone and have a great day.

Tim Schmidt

A Florida-based Entrepreneur, Author, and Life Hacker, Tim Schmidt decided to take control of his retirement portfolio several years ago by setting up a self-directed IRA. This blog shares his thoughts and opinions on the top of retirement and investments. You can follow his career and travels on his Official Website as well as on his Instagram page.