10 Best Gold Stocks Under $30

Page 8 of 8

1. Centerra Gold Inc. (NYSE:CGAU)

Upside potential as of November 18: 85.31%

Share Price as of November 18: $5.93

Centerra Gold Inc. (NYSE:CGAU) tops our list of the best gold stocks under $30. It operates, explores, develops, and purchases gold properties in Asia, North America, and other markets globally.

The company uses a combination of product and geographic location to manage its reportable operational segments. The Kumtor Gold Project’s activities are included in the Kyrgyz Republic category. The OksUt Project’s development is represented by the Turkish segment. The North American Gold-Copper sector includes the Mount Milligan Mine’s operations. The North America Molybdenum segment includes the Langeloth processing facility, as well as the Endako and Thompson Creek Mines’ care and maintenance activities.

Centerra Gold Inc. (NYSE:CGAU) announced an impressive third quarter of 2024, highlighted by steady operational performance and robust cash flow, even after making large investments to restart production at the Thompson Creek mine. The company continued to distribute capital to shareholders through dividends and share buybacks, raising its cash reserves to $604 million. In Q3 2024, cash and cash equivalents increased 22.88% year over year.

Centerra Gold Inc. (NYSE:CGAU) is moving forward with its strategic ambitions by increasing production at its Molybdenum Business Unit and prolonging the operational lifespan of the mine at Mount Milligan.

While we acknowledge the potential of Centerra Gold Inc. (NYSE:CGAU), our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CGAU but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT:  8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. 10 Best Gold Stocks Under $30 is originally published on Insider Monkey. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 8 of 8