Best Places to Buy Gold and Silver Stocks

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Now that the precious metal stocks are rising again, here are several excellent companies to buy gold and silver stocks from:

Gold

Newmont Mining (NYSE: NEM)

Despite the challenging market, Newmont Mining has outearned their revenue goals for the past four quarters. The company has reduced its debt taking advantage of depressed gold prices, and has taken steps to make production more cost-efficient. In the past year, the company has had low all-in sustaining costs (AISC), thus driving up overall profitability. As gold prices seem to be going up again, Newmont Mining stocks are ready to reap in the rewards.

NovaGold Resources Inc. (NYSEMKT: NG)

This gold miner holds assets in the United States and Canada. About half of its Donlin Gold mines are located in Alaska. Therefore, this company is less likely to be affected by political instability in African and Latin American countries where gold is mostly mined. The company has a reputation for being speculative, but their stock has been rising for the past several months, and all indications are that they will continue to rise in the next several months.

Barrick Gold Corporation (NYSE:ABX)

Toronto-based Barrick Gold has assets in many regions of the world including North America, Saudi Arabia, Africa and Central America. Their gold production is not likely to be affected by low supplies or political problems of one part of the world. Earnings have remained flat, so the company has announced sell-offs to cut debt and get revenues back in order. Stock prices are expected to remain as it is for now, but is predicted to increase by over 20 percent in the upcoming months.

Silver

Silver Wheaton Corporation (NYSE: SLW)

Silver Wheaton Corporation trades in both gold and silver, but investors will do better with their silver stocks. The corporation purchases silver with cash from mining companies. As Silver Wheaton does not mine the metal itself, the company is protected when the supplies are low. Also, low supply means the corporation can get better deals for future perusal. The corporation expects their sliver supply to go up to 55 million ounces by 2019, and without the risk of mining, this is an excellent option to buy silver stocks.

First Majestic Silver Corporation (NYSE: AG)

This Mexico-based mining company is looking forward to a good year in 2016. Production costs have plummeted—the company’s third-quarter earnings report last year showed an impressive 28 percent decline in all-in sustaining costs (AISC). On the other hand, supply has increased with new mining operations starting in Plomosas and La Luz, as well as expanded mining operations in Santa Elena and La Guitarra. All in all, AG stocks seem to be in the upswing for the upcoming years.

Silver Standard Resources Inc. (NASDAQ: SSRI)

Silver Standard Resources mines more than silver. Currently, this precious metal miner’s earnings do not meet revenue goals. However, this is partly due to the cyclical nature of silver stock prices. Regardless of the dismal look from the outside, the company has taken several steps to ensure profitability in the future. The company was recently acquired by a subsidiary of the Newmont Mining Corporation. Since the acquisition, the company’s resources have increased. Silver Standard now owns 35 percent more land at their Marigold mine, and has landed a lucrative contract at 75 percent interest with Golden Arrow Resources to prospect. With production increasing and costs declining, SSRI stocks are ready to rise in the upcoming year.

Please be aware that stock prices may fluctuate and might not follow the patterns predicted for some of the companies listed above.