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Here are three gold and two silver stocks investors may want to add to their portfolios this summer.

Gold

Goldcorp (NYSE:GG) - The leader of the pack in the gold mining sector, should be the first stock in your gold portfolio.

On May 23, Goldcorp released an updated 43-101 and feasibility study for the Cerro Negro deposit in Argentina. Probable reserves now total 4.258 million ounces of gold and 36.155 million ounces of silver with 1.098 million Indicated and Inferred ounces of gold and 7.5 million Indicated and Inferred ounces of silver.

Capital costs are estimated at $749.6 million dollars with a total sustaining capital costs estimate of $174.786 million dollars.

For a company on track to earn more than $3 per share in Operating cash flow this year the project can easily be funded internally.

The recent news of heavy rain causing damage to the tailings site at Pueblo Viejo should not deter potential investors. The possibility of a short-term delay along with the expiration of a warrant has held the stock back during this past month.

Iamgold (NYSE:IAG) - Recently published a preliminary study, which valued the Niobec mine at $2 billion dollars and a feasibility study showing that production at the Niobec mine could be tripled at a cost of $864 million dollars.

Niobec’s value will be unlocked through selling a stake of 10-20% to a strategic investor and following up with an IPO in either Hong Kong or Toronto reducing their stake to 55%.

This would add to an already large war chest while the market waits for an acquisition.

Newmont Mining (NYSE:NEM) - Set a gold-price linked dividend in April of this year and indicated that if the gold price in the second quarter remained in the upper 1400s for the second quarter it was likely that the dividend would be raised to $0.25 per share or a $1 annualized dividend. As the stock price pulls back toward $50 a $1 annualized dividend would give Newmont a 2% yield.

Given the uncertainty in the market and disconnect between the gold price and gold mining equities link the dividend to the price of gold is a daring yet sensible maneuver. Daring because Newmont essentially takes the dividend out of the hands of the board of directors and sensible because the dividend policy puts a floor under the stock price.

Silver

Endeavour Silver (NYSE:EXK) – Six consecutive years of production growth, seven consecutive years of Reserve/Resource growth, and three years of declining cash costs.

Endeavour’s strategy of purchasing old mines in districts with strong historical production, adding additional capital to better define the deposit, then extracting value has paid dividends for shareholders.

The footprint of the Guanacevi deposit expanded through acquisition of an option to purchase the La Brisa and La Brisa2 properties located approximately 10 kilometers southeast of the Porvenir mine and claims to over 2700 hectares surrounding the properties. Phase 1 drilling will begin in the third quarter when the proper permits are received.

An option to purchase 37 hectares north of the El Soto mine has been acquired and a Phase 1 surface drill program will begin in the fourth quarter.

First Majestic Silver (NYSE:AG) – A strong management team led by Keith Neumeyer, the former founding President of First Quantum Minerals Ltd.

Three operating mines in Mexico with a fourth mine under construction. Production growth from new and existing mines is expected to double silver production to 16 million ounces by 2014.

Earnings have exploded in the first quarter of 2011 on the back of expanding production, higher silver prices, and excellent cost control.

First Majestic is one of the few silver mining firms executing on all levels with exploration programs, mine development, and mine operations.

Disclaimer: Before making any type of investment, one should consult with an investment professional to consider whether the investment is appropriate for the individual's risk profile. This is not intended to be investment advice or a solicitation to purchase any of the securities listed here.

Source: Gold and Silver Stocks to Accumulate Over Summer