5 Gold Stocks to Watch in 2022

By
TradersDNA

2022 could be set to be a record year for gold, and gold stocks. Goldman Sachs analysts just set a 12-month price target of $2500 for gold. At the same time, there are plenty of risks and uncertainty in Europe with the current conflict in Ukraine.  This has set off a chain reaction that has impacted the global economy, already in the throes of multi-year high inflation, pushing the gold price higher and setting it up for further potential gains this year.  

For the gold mining industry, these are the conditions that have traditionally been very favourable.   This creates an opportunity for investors who want to benefit from gold’s price increase, but also want to minimize their risk. 

Gold prices are on the rise, and with them, gold stocks. So which gold companies might you consider for your portfolio?  The following 5 gold stocks could be some of the top picks for 2022:

Trillium Gold Mines (TSXV:TGM): Trillium Gold Mines is a junior exploration company that is focused on developing gold projects in Red Lake, Ontario.  The company recently announced the results of drilling at its 80% owned Gold Centre property, just 350 metres from the world-famous Red Lake Operations that has produced more than 25 million ounces of high-grade gold. 

Trillium Gold believes that the southeast plunging mine trend extends right onto its Gold Centre property and could represent a huge continuation of that world-class mine.  

Barrick Gold Corporation (TSX:ABX): Barrick Gold Corporation is one of the largest gold mining companies in the world. The company has a diversified portfolio of assets, which gives it exposure to various gold price environments. It also has a strong balance sheet and ample liquidity, which will help it take advantage of any opportunities that may arise.

Freegold Ventures (TSX:FVL): Freegold Ventures is a junior exploration company that is focused on gold and copper projects in Alaska. The company’s flagship project is the Golden Summit project, which is located just 55 kilometres from Fairbanks. On February 9, the firm said it was preparing for a 2022 diamond drill program at Golden Summit, which will extend on last year’s work and look for richer mineralization. The company stated that drilling would most likely begin within the following week.

International Tower Hill Mines (TSX:ITH): International Tower Hill Mines is a junior exploration company that is focused on the Livengood gold project in Alaska. February 2022 has seen strong gains for the stock, even though the company has not released any significant news yet in 2022. This could be attributed to the rising price of gold and the potential that the Livengood project has.

Orvana Minerals (TSX:ORV): Orvana Minerals, a gold, copper, and silver mine operator based in Europe and South America with its El Valle gold-copper-silver mine in Spain and Don Mario copper-gold-silver mine in Bolivia, respectively. For the 2021 fiscal year, production at El Valle is expected to reach 63,108 gold equivalent ounces, including 47,413 gold ounces. For the 2022 financial year, management expects 48,000 to 53,000 gold equivalent ounces.

Gold’s Best Year Yet?

Investors might be looking at 2022 with uncertainty and nervousness, but the gold mining industry is pushing ahead as robust as ever. The current climate provides a huge opportunity for investors who want to capitalize on the rising gold prices, while also minimizing their risk. These 5 gold stocks could be some of the top picks for the year.

With Goldman Sachs hiking its targets for the year and other major risks looming in the foreground, there is no doubt that gold will continue to be a highlight for those looking to hedge inflationary risk, and perhaps the unknown.

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