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As the market has seen some turmoil over the past month due to issues in Europe, investors have moved their portfolios into safer assets classes such as gold. The price for an ounce of gold is up from $1565/oz to about $1627/oz over the time period. The price of gold also has increased the profit potential of gold stocks which has led to an increase in their share prices. Here are four stocks that have seen their shares jump over the past month but still have significant upside potential:

Yamana Gold (NYSE:AUY) is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions in Brazil, Argentina, Chile, Mexico and Colombia. Yamana plans to continue to build on this base through existing operating mine expansions, throughput increases, development of new mines, the advancement of its exploration properties and by targeting other gold consolidation opportunities with a primary focus in the Americas.

The stock has seen a significant rally over the past month, up nearly 20%, on the back of a higher price for gold. The consensus analyst target for the stock is $21 for upside of over 30% from today's levels.

Newmont Mining (NYSE:NEM) is primarily a gold producer, with significant assets or operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico. Founded in 1921 and publicly traded since 1925, Newmont is one of the world's largest gold producers and is the only gold company included in the S&P 500 Index and Fortune 500.

As of December 31, 2011, Newmont had proven and probable gold reserves of 98.8 million attributable ounces and an aggregate land position of approximately 31,571 square miles (81,767 square kilometers).

NEM is up 11% over the past month but still analysts suggest the stock has significant upside. The consensus target for the stock is $67, suggesting upside of 34%.

Kinross Gold Corporation (NYSE:KGC) is a Canadian-based gold mining company with mines and projects in Brazil, Chile, Ecuador, Ghana, Mauritania, Russia and the United States. The value in KGC's stock may be realized soon as it has a significant catalyst in play. It was reported that KGC has hired a financial advisor to explore strategic options.

KGC rallied nearly 15% over the past month and it may have the biggest upside potential out of the group. Analysts have a consensus target on the stock of just over $13 a share, suggesting upside of 50%.

Agnico-Eagle Mines (NYSE:AEM) is a long established, Canadian headquartered, gold producer with operations located in Canada, Finland and Mexico, and exploration and/or development activities in Canada, Finland, Mexico and the United States. The company has full exposure to higher gold prices consistent with its policy of no forward gold sales and maintains a corporate strategy based on increasing shareholders exposure to gold, on a per share basis.

The stock has seen significant gains since mid-May, up more than 15%, one of the top gainers for gold stocks as it is fully exposed to gold prices.

Source: 4 Gold Stocks With Significant Upside Potential With Gold On The Upswing