The Best Gold Stocks of 2011: RGLD, AUY, ANV, GOLD
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2011 has proven to be another big year for gold as the precious metal has risen 21% year-to-date. Uncertainty surrounding the European sovereign debt crisis coupled with global inflation concerns has made the safe haven asset a strong bet in a difficult trading environment. Here are four of the best performing gold stocks this year.
Royal Family
When looking at stocks tied to the gold industry with a market cap of at least $2 billion, Royal Gold (Nasdaq: RGLD) has been one of the very best performers as we get ready to close out 2011. The company which owns and manages gold royalties has seen its stock price surge 45.7% so far in 2011.
Last month, the company reported record Q1 net income as its royalty revenue jumped 42% over the prior year period. Royal Gold has benefitted from higher gold prices as well as increased production. The impressive results the company has delivered enabled it to recently announce a 36% increase in the amount of its quarterly dividend payments.
The Canada-based gold producer Yamana Gold (NYSE: AUY) is also having a big year. Record adjusted earnings have helped the company to shore up its balance sheet by increasing its cash position and paying down debt. Shares of AUY have jumped 26.1% on the year.
Honorable Performances
Allied Nevada Gold Corp (NYSE: ANV) was able to offset Q3 gold production that was below expectations with higher realized selling prices and silver production that exceeded expectations. The company's average realized selling price for an ounce of silver doubled on a year-over-year basis.
Allied Nevada is in the process of laying the groundwork for future growth of its existing operations. Capital additions for this year are expected to total around $110 million including the expansion of the mobile equipment fleet at its Hycroft mine. ANV shares are up 27.0% year-to-date.
One other gold stock that has been a notable performer in 2011 has been Rangold Resources (Nasdaq: GOLD). The African focused gold miner has cautioned investors that wet conditions and a temporary work stoppage at its Tongon mine could have a negative impact on Q4 production. The output is still expected to be above 2010 figures. Shares of GOLD have gained 26.6% since the beginning of the year.
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