Harmony Gold Mining (HMY)
When venturing through the murky financial waters of today’s market, investors seek the steady lighthouse that is Harmony Gold Mining (NYSE:HMY). Based in South Africa, Harmony explores gold and other precious metals in locations like South Africa, Australia, and Papua New Guinea.
With gold prices soaring to unprecedented heights, Harmony has been a beacon of success among gold mining companies. Having nearly doubled its stock price in the past year, Harmony recently reported a 25% increase in total production profit and a threefold surge in free cash flow compared to the previous year. This led to an interim dividend payout of 8 cents per share, supported by operational cost reductions, robust gold prices, and production that exceeded expectations. Notably, the Mponeng Mine in South Africa, one of Harmony’s most profitable assets, received a 20-year extension to operate.
The surge in gold prices has greatly benefited Harmony Gold Mining, making it an attractive option for investors aiming to diversify their portfolios amidst the volatility of the market.
Agnico Eagle Mines (AEM)
Agnico Eagle Mines (NYSE:AEM) is a stalwart in the realm of gold mining, exploring and gaining gold mining properties across the U.S., Canada, Mexico, and Finland. In the fourth quarter of 2023, AEM reported a 27% increase in total revenue and a 13% rise in gold production compared to the previous year.
With a 9% increase in its share price over the past year, AEM offers investors a robust 2.86% annual dividend yield. Noteworthy growth in free cash flow was observed in Q4 2023, shifting from a $20 million deficit to $302 million.
While not as flashy as some gold stocks, AEM focuses on consistent growth, making it a reliable choice for investors seeking stability in the gold sector.
B2Gold (BTG)
B2Gold (NYSEMKT:BTG) stands as a prominent gold production company with operations spanning North America, Europe, Asia, Africa, and South America. Investors are drawn to BTG’s substantial annual dividend yield of around 6.27%, with its latest quarterly dividend payment standing at 4 cents per share.
In the financial report for the fourth quarter of 2023, B2Gold disclosed a 14% decrease in total revenue and a 24% dip in gold production year-over-year. The decline was primarily attributed to the Mali mine, which experienced a significant drop in gold production. However, with anticipated record-high gold production levels in 2025 and a resilient dividend yield, BTG presents an intriguing opportunity.
With its shares having depreciated by 35% in the past year, B2Gold could be a hidden gem for investors seeking value amidst market turbulence.
As of this writing, Noah Bolton did not hold any positions in the securities mentioned in this article. The views expressed here are solely those of the author, following the InvestorPlace.com Publishing Guidelines.
