10 Best Gold Stocks to Invest in for Portfolio Diversification

6. Royal Gold, Inc. (NASDAQ:RGLD)

Number of Hedge Fund Holders: 30

Royal Gold, Inc. (NASDAQ:RGLD) acquires and manages precious metal streams, royalties, and related interests. It receives streams and royalty interests and finances projects, which primarily consist of gold, silver, copper, nickel, zinc, lead, and other metals. The company’s edge as one of the best gold stocks to invest in stems from its debt-free nature at the end of the third quarter. It also had access to a $1 billion revolving credit facility that it can use to strengthen its metals streams, royalties, and other interests. The Company owns interests in 175 properties On five continents, including 42 producing mines and 18 development-stage projects.

Additionally, Royal Gold, Inc. (NASDAQ:RGLD) sold about $36,600 ounces of gold at an average price of $2,662 per ounce at the end of last year. Likewise, the company is well positioned to take advantage of the favorable gold price environment, with prices above $2,900, as it had about 15,500 ounces of Gold as of the end of last year.

In addition, Royal Gold, Inc. (NASDAQ:RGLD) boasts of a highly diversified revenue base, having sold about 478,900 ounces of silver and 1,3000 tons of copper related to its streaming agreements for the three months ended December. It also entered the new year with about 338,400 ounces of silver from which it can profit from soaring prices.