In this article, we discuss the 5 gold stocks under $5. If you want to read about some more gold stocks, go directly to 10 Gold Stocks Under $5.
5. Gold Standard Ventures Corp (NYSE:GSV)
Number of Hedge Fund Holders: 5
Real-Time Share Price as of April 22: $0.45
Gold Standard Ventures Corp (NYSE:GSV) develops gold-bearing mineral properties. One of the leading properties of the company is the Railroad-Pinion project covering an area of almost 53,570 acres that is located in the Elko County of Nevada. The firm is based in Canada and was founded in 2004. It has a market cap of over $172 million and a volume of 430,628. The short interest on the stock is 1.16%. In mid-March, the company released a new feasibility study for the South Railroad project in Nevada.
On April 20, investment advisory National Bank kept an Outperform rating on Gold Standard Ventures Corp (NYSE:GSV) stock with a price target of $1.30. Analyst Jonathan Egilo issued the ratings update.
At the end of the fourth quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $23 million in Gold Standard Ventures Corp (NYSE:GSV), up from 4 the preceding quarter worth $21 million.
Among the hedge funds being tracked by Insider Monkey, Idaho-based investment firm Sun Valley Gold is a leading shareholder in Gold Standard Ventures Corp (NYSE:GSV) with 48 million shares worth more than $21 million.
4. Galiano Gold Inc. (NYSE:GAU)
Number of Hedge Fund Holders: 6
Real-Time Share Price as of April 22: $0.51
Galiano Gold Inc. (NYSE:GAU) engages in the development and production of gold properties. On March 29, the company posted earnings for the fourth quarter of 2021, reporting a revenue of $91 million, down nearly 18% year-on-year. In late January, the company had announced that it had generated nearly $381 million from the sale of 216,076 ounces of gold sold at an average price of $1,767/ounce in the fourth quarter of 2021. The annual gold production stood at 210,241 ounces, slightly below 2021 guidance.
In early January, investment advisory Scotiabank maintained a Sector Perform rating on Galiano Gold Inc. (NYSE:GAU) stock with a price target of C$1.75. The ratings update was issued by analyst Ovais Habib.
At the end of the fourth quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $19.30 million in Galiano Gold Inc. (NYSE:GAU), the same as in the preceding quarter worth $19.38 million.
Among the hedge funds being tracked by Insider Monkey, Idaho-based investment firm Sun Valley Gold is a leading shareholder in Galiano Gold Inc. (NYSE:GAU) with 23 million shares worth more than $17 million.
3. Gold Royalty Corp. (NYSE:GROY)
Number of Hedge Fund Holders: 6
Real-Time Share Price as of April 22: $4.17
Gold Royalty Corp. (NYSE:GROY) is a precious-metals focused royalty firm. On February 22, the company announced that it had agreed to purchase a 0.75% net smelter return on the Côté Gold Project in Ontario in a deal worth close to $16 million. The project has an estimated average annual production of 489,000 gold oz and an 18-year mine life. The project is already halfway to completion. David Garofalo, the CEO of the firm, claims the firm now owns royalties to two of the largest and longest-life gold mines in Canada.
On February 10, BMO Capital analyst Rene Cartier initiated coverage of Gold Royalty Corp. (NYSE:GROY) stock with a Market Perform rating and a price target of $5.50, backing the firm to continue to strengthen the balance sheet despite limited cash flow upside in the near-term.
At the end of the fourth quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $9 million in Gold Royalty Corp. (NYSE:GROY), compared to 5 in the preceding quarter worth $3 million.
Among the hedge funds being tracked by Insider Monkey, Canada-based investment firm Sprott Asset Management is a leading shareholder in Gold Royalty Corp. (NYSE:GROY) with 1.6 million shares worth more than $8 million.
2. Harmony Gold Mining Company Limited (NYSE:HMY)
Number of Hedge Fund Holders: 10
Real-Time Share Price as of April 22: $4.42
Harmony Gold Mining Company Limited (NYSE:HMY) explores, extracts and processes gold. The company is trying to build a dividend profile. On April 6, it declared a quarterly dividend of $0.021 per share, an increase of nearly 40% from the previous payout of $0.015 per share. The stock has benefited from the recent rally in gold prices as inflation and market volatility leads to renewed interest in gold as a safe haven. In addition to gold, the firm has interests in uranium, silver, copper, and molybdenum deposits.
On March 7, JPMorgan analyst Dom O’Kane maintained a Neutral rating on Harmony Gold Mining Company Limited (NYSE:HMY) stock and raised the price target to $5 from $4, noting that there were clear macro tailwinds for gold producers.
Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm Kopernik Global Investors is a leading shareholder in Harmony Gold Mining Company Limited (NYSE:HMY) with 7.8 million shares worth more than $32 million.
At the end of the fourth quarter of 2021, 10 hedge funds in the database of Insider Monkey held stakes worth $72 million in Harmony Gold Mining Company Limited (NYSE:HMY), compared to 5 in the previous quarter worth $82 million.
1. Gold Resource Corporation (NYSE:GORO)
Number of Hedge Fund Holders: 11
Real-Time Share Price as of April 22: $2.20
Gold Resource Corporation (NYSE:GORO) develops and produces gold and silver projects. The company posted earnings for the fourth quarter of 2021 on March 11, reporting a revenue of $38 million, up more than 28% compared to the revenue over the same period last year. During the period, the firm produced and sold 22,644 gold ounces, 1,066,581 silver ounces, 1,420 copper tonnes, 5,999 lead tonnes and 13,553 zinc tonnes. The 2022 gold guidance stood at 24,000 to 26,000 ounces.
One of the premier projects of Gold Resource Corporation (NYSE:GORO) is the Back Forty project covering around 1,304 hectares located in Menominee county in Michigan. In addition to gold, the firm has interests in copper, lead, and zinc.
At the end of the fourth quarter of 2021, 11 hedge funds in the database of Insider Monkey held stakes worth $5.1 million in Gold Resource Corporation (NYSE:GORO), up from 10 in the previous quarter worth $5.6 million.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Gold Resource Corporation (NYSE:GORO) with 718,860 shares worth more than $1.1 million.
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