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After a short period of weakness, gold is starting to rise again. The situation in Europe seems to be a can of worms and as soon as one problem is resolved another one comes along. The problems in Greece have not been resolved and now it appears that Italy could be on the very same path in terms of default potential. This has ignited renewed interest in gold due to fears over the financial system and the possibility for weaker currencies. A recent Bloomberg article details the likelihood for much higher gold prices in the coming months and states:

The most accurate forecasters say gold will rebound from its biggest monthly plunge since 2008 and reach a record by March because economic growth is stagnating and Europe's debt crisis is unresolved. Futures traded in New York may rise 12 percent to $1,950 an ounce by the end of the first quarter, according to the median of estimates compiled by Bloomberg. The predictions are from eight of the top 10 analysts tracked by Bloomberg over the past eight quarters.

"When we look at gold five years from now, we will say gold was wildly cheap,” said Jason Schenker, the president of Prestige Economics LLC in Austin, Texas, and the fifth-best forecaster tracked by Bloomberg.

With gold looking good both fundamentally and technically once again, it makes sense to invest in gold stocks that could rise in this next gold rally. Here are a few stocks that could see solid gains:

Goldcorp (NYSE:GG) is a gold mining and exploration company, based in Canada. This company has operations in Canada, the United States, Mexico, and Central and South America and produces gold, silver, copper, lead and zinc. This company is favorite gold stock for many investors and would likely see a big rally whenever gold moves substantially higher.

Here are some key points for GG:
Current share price: $52.97
The 52-week range is $39.04 to $56.31
Earnings estimates for 2011: $2.23 per share
Earnings estimates for 2012: $3.15 per share

Yamana Gold (NYSE:AUY) is a gold mining and exploration company, located in Canada. This company has gold exploration projects in Brazil, Chile, Argentina, Mexico, and Colombia. This stock recently hit a new 52-week high, and could run even higher. Yamana pays a 18 cent per share dividend which yields 1.1%.

Here are some key points for AUY:
Current share price: $16.31
The 52-week range is $10.88 to $17.47
Earnings estimates for 2011: 99 cents per share
Earnings estimates for 2012: $1.30 per share

Golden Star Resources, Ltd. (NYSEMKT:GSS) is a gold mining and exploration company, located in Colorado. This company has gold exploration projects in Ghana, Sierra Leone, Niger, and Brazil. This company seems to have frequent disappointments with earnings and other issues, so it only makes sense to buy on dips.

Here are some key points for GSS:
Current share price: $2.21
The 52-week range is $1.55 to $5.81
Earnings estimates for 2011: 2 cents per share
Earnings estimates for 2012: 35 cents per share

Newmont Mining Corporation (NYSE:NEM) is a gold mining and exploration company, located in Colorado. This company has gold exploration and mining operations in United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand, and Mexico. This stock is another favorite of gold bugs and it is trading close to the 52-week high. Newmont pays a dividend of $1.40, which yields 2.1%. This stock appears to be relatively cheap when considering the price-to-earnings ratio.

Here are some key points for NEM:
Current share price: $71.61
The 52-week range is $50.05 to $72.35
Earnings estimates for 2011: $4.63 per share
Earnings estimates for 2012: $6.11 per share

Rubicon Minerals Corporation (NYSEMKT:RBY) is a gold mining and exploration company, located in Canada. This company has gold exploration projects in Ontario, Canada, Alaska, and Nevada. This stock recently traded for about $3, and because this company lacks strong profits, I would only consider buying on dips around that level.

Here are some key points for RBY:
Current share price: $4.04
The 52-week range is $2.87 to $6.34
Earnings estimates for 2011: a loss of 3 cents per share
Earnings estimates for 2012: a loss of 3 cents per share

North American Palladium Inc. (NYSEMKT:PAL) is a precious metals mining and exploration company, located in Colorado. This company has gold exploration projects in Canada. This stock recently traded around $2.25 but has rebounded sharply. I would wait for pullbacks below $3 before considering a buy here.

Here are some key points for PAL:
Current share price: $3.54
The 52-week range is $1.97 to $7.99
Earnings estimates for 2011: a loss of 4 cents per share
Earnings estimates for 2012: 25 cents per share

SPDR Gold Shares (NYSEARCA:GLD) is an exchange traded fund that tracks the price of gold bullion. This is trading at 52-week highs and way above key support levels. For many gold investors, this is the safest way to play gold because you don't have operational or management risks that exist with all companies.

Here are some key points for GLD:
Current share price: $173.53
The 52-week range is $127.80 to $185.85
Earnings estimates for 2011: Not applicable
Earnings estimates for 2012: Not applicable

Data sourced from Yahoo Finance. No guarantees or representations are made.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Disclaimer: Hawkinvest is not a registered investment advisor and does not provide specific investment advice. The information is for informational purposes only. You should always consult a financial advisor.

Source: 7 Stocks To Ride Higher In The New Gold Rally