Gold stocks chasing copper
The proposed acquisition of Foran Mining Corp by Eldorado Gold Corp, following Harmony Gold Mining Co Ltd acquiring MAC Copper, highlights the appeal of base metal mines for some gold miners. A few companies are forecast to increase base metal exposure, namely Torex Gold Resources Inc with Media Luna, Eldorado Gold Corp with the start-up of Skouries and the acquisition of Foran Mining Corp for the new McIlvanne Bay copper-zinc mine. Two primary reasons for gold stock to chase base metals are operations with minor gold can be reported as “low-cost gold mines” and the EV thematic remains appealing. Copper remains the preferred base metal for GMR, but gold is the preferred commodity for 2026. Recommended gold stocks are Barrick Gold Corp, Agnico Eagle Mines Ltd (upgraded to BUY) and Kinross Gold Corp in the seniors and Equinox Gold Corp, Genesis Minerals Ltd, IAMGOLD Corp and OceanaGold Corp for near-term growth-oriented stocks.
Edition: 231
- 06 March, 2026
Gold and gold mining stocks are attractive
Higher inflation is the catalyst that gold prices have been waiting for and it’s time to act; Michael Belkin recommends LONG GDX gold stock and GLD gold ETFs. Michael also follows every investable gold/silver/platinum mining stock in the world and advises investors to stay away from Newmont or Barrick, which are underperforming the GDX. Instead, opt for mid-sized producers such as Kinross, SSR Mining or Eldorado Gold.
Edition: 124
- 26 November, 2021