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10 Best Gold Stocks Under $50

In this article, we discuss 10 best gold stocks under $50. If you want to skip our detailed discussion on the gold industry, head directly to 5 Best Gold Stocks Under $50

Previously, we reported that The World Gold Council said that there was a 13% decline in Q1 gold demand (excluding OTC) compared to the previous year. However, there were some positive trends, such as higher demand from Chinese consumers and central bank buying. On the other hand, ETFs and India’s weakness had a negative impact on the overall demand. When including OTC, the total gold demand showed a 1% year-on-year increase, reaching 1,174 tonnes. This growth was attributed to the recovery in OTC investment, which balanced out the weaknesses observed in certain areas, in line with investor positioning in the futures market. During the first quarter, central banks saw remarkable growth in demand for gold, with official sector institutions showing continuous interest and purchasing 228 tonnes of gold to bolster their reserves worldwide. The World Gold Council forecasted that investment in gold will exhibit healthy growth throughout the year, but the outlook for fabrication, including jewelry and technology, is not as strong. Central bank buying is expected to remain robust, although it is not likely to reach the levels recorded in 2022. As for mine production and recycling, both are projected to demonstrate modest growth.

According to The World Gold Council’s July 2023 report, during the first six months of the year, the price of gold rose by 5.4% in USD, reaching a closing value of US$1,912.25 per ounce in June. Gold exhibited better performance than most other valuable assets, except for developed market stocks. Apart from providing positive returns to investor portfolios, gold played a crucial role in reducing overall volatility during the first half of the year, particularly during the mini-banking crisis in March.

Don’t Miss: 15 Best Gold Mining Stocks To Buy Now

Based on the findings of an annual survey of central banks conducted by the World Gold Council, it is evident that developing countries are actively looking to reduce their reliance on the U.S. dollar. These emerging economies often find themselves vulnerable to the impact of U.S. Federal Reserve policies and are now turning towards gold as a means to protect themselves from the uncertainties associated with the dollar. The survey revealed a notable difference in perspectives between the monetary policymakers in advanced economies and those in developing markets, signaling significant implications for the United States. One such consequence includes potential challenges in funding large and persistent trade deficits, and consequently, affecting American living standards. This trend of shifting away from the dollar in favor of gold could have notable repercussions on the global economic landscape. Although central banks play an important role in the gold market and have contributed to the recent surge in gold prices, it is essential to note that they are not involved in buying gold for speculative purposes. Instead, the primary reason for central banks to hold gold is to hedge against inflation and maintain its value over the long term. The World Gold Council’s annual report stated: 

“This divergence of views is perhaps most striking in terms of the outlook for the U.S. dollar and gold. Developing economies appear to be more pessimistic about the U.S. dollar’s future and more optimistic about gold’s.”

Also read: 20 Countries With Highest Gold Consumption By Year

Amid this optimistic global gold landscape, some of the best gold stocks to buy include Newmont Corporation (NYSE:NEM), Barrick Gold Corporation (NYSE:GOLD), and Kinross Gold Corporation (NYSE:KGC). 

Our Methodology 

We selected the gold stocks which were priced under $50 as of July 24 and sorted them based on the hedge fund sentiment toward each stock. We have assessed the hedge fund sentiment from Insider Monkey’s database of 943 elite hedge funds tracked as of the end of the first quarter of 2023. The list is arranged in ascending order of the number of hedge fund holders in each firm. 

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Best Gold Stocks Under $50

10. SSR Mining Inc. (NASDAQ:SSRM)

Number of Hedge Fund Holders: 14

Share Price as of July 24: $14.64

SSR Mining Inc. (NASDAQ:SSRM) is involved in acquiring, exploring, developing, and operating precious metals properties in Turkey and the Americas. The company’s primary focus is on searching for deposits of gold, silver, copper, lead, and zinc. On May 8, SSR Mining Inc. (NASDAQ:SSRM) disclosed its plans to purchase up to a 40% stake in the Hod Maden gold-copper development project located in Turkey from Lidya Mines. The acquisition deal is valued at $270 million and grants SSR Mining Inc. (NASDAQ:SSRM) immediate operational control over the project. The agreement involves an initial payment of $120 million in cash to secure a 10% interest in Hod Maden, followed by a series of structured milestone payments amounting to $150 million to acquire an additional 30% interest in the project.

According to Insider Monkey’s first quarter database, 14 hedge funds were bullish on SSR Mining Inc. (NASDAQ:SSRM), compared to 16 funds in the prior quarter. 

In addition to Newmont Corporation (NYSE:NEM), Barrick Gold Corporation (NYSE:GOLD), and Kinross Gold Corporation (NYSE:KGC), SSR Mining Inc. (NASDAQ:SSRM) is one of the best gold stocks to invest in. 

Palm Valley Capital Fund made the following comment about SSR Mining Inc. (NASDAQ:SSRM) in its second quarter 2023 investor letter:

“During the second quarter, the Fund fully exited three positions. We also sold our stake in SSR Mining Inc. (NASDAQ:SSRM) as the shares approached our intrinsic value estimate, and the company’s operational and financial risk increased after it announced a new investment in the Hod Maden Gold-Copper Project based in Turkey.”

9. New Gold Inc. (NYSE:NGD)

Number of Hedge Fund Holders: 15

Share Price as of July 24: $1.225

New Gold Inc. (NYSE:NGD) is an intermediate gold mining company that is actively involved in exploring, developing, and operating mineral properties. The company’s main focus is on searching for deposits of gold, silver, and copper. New Gold Inc. (NYSE:NGD) was founded in 1980 and is headquartered in Toronto, Canada. It is one of the best gold stocks to monitor. 

On July 11, New Gold Inc. (NYSE:NGD) announced a significant increase in Q2 gold equivalent production, which increased 45% year-over-year to 102,374 ounces. The company stated that it is confident in meeting its previously outlined annual production guidance. During the second quarter of 2023, New Gold Inc. (NYSE:NGD)’s total gold output also saw a substantial surge, rising 46% year-over-year to 76,527 ounces.

According to Insider Monkey’s first quarter database, 15 hedge funds were long New Gold Inc. (NYSE:NGD), compared to 14 funds in the earlier quarter. Eric Sprott’s Sprott Asset Management is the largest stakeholder of the company, with 13.3 million shares worth $14.6 million.

8. Osisko Gold Royalties Ltd (NYSE:OR)

Number of Hedge Fund Holders: 16

Share Price as of July 24: $14.55

Osisko Gold Royalties Ltd (NYSE:OR) purchases and oversees royalties, streams, and other interests related to precious metals in Canada and internationally. Additionally, the company is engaged in the exploration and advancement of mining projects, focusing on exploring for precious metals such as gold, silver, and diamonds. Osisko Gold Royalties Ltd (NYSE:OR) is one of the best gold stocks to watch. 

On July 6, Osisko Gold Royalties Ltd (NYSE:OR) released preliminary figures for the second quarter of 2023, reporting 24,645 ounces of gold equivalent production. The company’s preliminary Q2 revenues from royalties and streams amounted to $60.5 million, and the cost of sales was $4.3 million, leading to a significant quarterly cash margin of 93%.

According to Insider Monkey’s first quarter database, 16 hedge funds held stakes worth nearly $134 million in Osisko Gold Royalties Ltd (NYSE:OR), compared to 18 funds in the prior quarter worth $153 million. Murray Stahl’s Horizon Asset Management is one of the leading position holders in the company, with 2.17 million shares valued at $34.3 million. 

Palm Valley Capital Management made the following comment about Osisko Gold Royalties Ltd (NYSE:OR) in its Q1 2023 investor letter:

“We did not purchase any new holdings for the Fund during the first quarter. In January, we sold one position: Osisko Gold Royalties Ltd (NYSE:OR). Osisko reported record royalty and streaming revenues as it has steadily grown its portfolio of assets, which is skewed toward Canada—considered to be the highest quality jurisdiction for miners. The company recently deconsolidated the results of mining developer Osisko Development from its financials, clarifying Osisko Royalties’ business model for less familiar investors. Each quarter, we update the company’s NAV based on the underlying value of each of its key royalty and streaming interests, in addition to the net financial assets it holds. Osisko’s share price exceeded our estimate of NAV, so we sold the position.”

7. Coeur Mining, Inc. (NYSE:CDE)

Number of Hedge Fund Holders: 17

Share Price as of July 24: $3.1198

Coeur Mining, Inc. (NYSE:CDE) conducts exploration activities for valuable metals in the United States, Canada, and Mexico, primarily focusing on gold, silver, zinc, and lead properties. Coeur Mining, Inc. (NYSE:CDE) is one of the top gold stocks to invest in. On May 10, the company reported a Q1 non-GAAP EPS of -$0.11 and a revenue of $187.3 million, outperforming Wall Street estimates by $0.01 and $21.63 million, respectively. The projected production for the entire year of 2023 is expected to range between 100,000 and 112,500 ounces of gold, along with 6.5 to 7.5 million ounces of silver.

According to Insider Monkey’s first quarter database, Coeur Mining, Inc. (NYSE:CDE) was part of 17 hedge fund portfolios, with combined stakes worth $72 million, compared to 17 funds in the prior quarter worth $38.7 million. Paul Marshall and Ian Wace’s Marshall Wace LLP is the biggest stakeholder of the company, with 6.7 million shares worth $27 million. 

6. B2Gold Corp. (NYSE:BTG)

Number of Hedge Fund Holders: 20

Share Price as of July 24: $3.5775

B2Gold Corp. (NYSE:BTG), a Canadian gold producer with mines in Mali, the Philippines, and Namibia, ranks 6th on our list of the best gold stocks. On May 9, B2Gold Corp. (NYSE:BTG) reported Q1 non-GAAP earnings per share of $0.10, beating Wall Street estimates by $0.03. The revenue increased 29.4% year-over-year to $473.56 million, topping analysts’ predictions by $32.56 million. 

According to Insider Monkey’s first quarter database, 20 hedge funds were bullish on B2Gold Corp. (NYSE:BTG), compared to 15 funds in the prior quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the leading stakeholder of the company, with 22.7 million shares worth approximately $90 million. 

Like Newmont Corporation (NYSE:NEM), Barrick Gold Corporation (NYSE:GOLD), and Kinross Gold Corporation (NYSE:KGC), B2Gold Corp. (NYSE:BTG) is one of the best gold stocks to monitor. 

Click to continue reading and see 5 Best Gold Stocks Under $50

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Disclosure: None. 10 Best Gold Stocks Under $50 is originally published on Insider Monkey.

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

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Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

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Elon Musk was even more blunt:

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As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

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Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

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The Hedge Fund Secret That’s Starting to Leak Out

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A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…