Yesterday, I’d discussed whether cryptocurrencies or gold was the better bet for 2022. The spot price of gold has gained solid momentum in the fall season. Indeed, gold was trading at roughly US$1,865/ounce at the time of this writing. Today, I want to look at three gold stocks that offer nice value in late November. Let’s jump in.
This under-the-radar gold stock is up nearly 30% month over month
Argonaut Gold (TSX: AR) is a Toronto-based company engaged in the mining, mine development, and mineral exploration activities at gold-bearing mineral properties in North America. Shares of this gold stock have climbed 37% in 2021 as of close on November 17. The stock has shot up 29% month over month.
The company released its third-quarter 2021 results on November 15. Revenues rose 15% year over year to $108 million. Meanwhile, Argonaut posted revenue growth of 53% to $334 million for the first nine months of 2021. Moreover, adjusted net income increased 43% and 50%, respectively, to $17.4 million, or $0.06 per share.
Shares of this gold stock possess a favourable price-to-earnings (P/E) ratio of 12. Better yet, Argonaut Gold also has a fantastic balance sheet. This is a gold stock worth targeting in the final weeks of the year.
Here’s an exciting gold stock that offers a dividend
B2Gold (TSX: BTO)(NYSE:BTG) is a Vancouver-based gold producer that has operating mines in Mali, the Philippines, and Namibia. Shares of this gold stock have dropped 24% in the year-to-date period. However, the stock has surged 17% month over month as of close on November 17.
In Q3 2021, the company reported gold production of 310,261 ounces, which were above budget by 7%. Gold revenues rose to $510 million compared to $487 million in the previous year. However, operating income was nearly halved to $218 million.
The company increased its gold production guidance for the full year. Meanwhile, it projects total consolidated cash operating costs between $500 and $540 per ounce. Despite the dips in this quarter, B2Gold’s mines still performed very well in the first nine months of 2021.
This gold stock last had an attractive P/E ratio of 10. Moreover, it offers a quarterly dividend of $0.04 per share. That represents a 3.5% yield.
One more mining stock to snatch up right now
Wesdome Gold Mines (TSX: WDO) is another Toronto-based company engaged in the exploration, extraction, processing, and reclamation of gold in Canada. Shares of this gold stock have increased 18% in 2021 as of close on November 17. The stock is up 32% from the prior year.
Investors got a look at Wesdome’s third-quarter 2021 earnings on November 10. Its revenue climbed 23% year over year to $67.5 million. Meanwhile, it delivered operating cash flow growth of 33% to $33.9 million. Adjusted net income was reported at $18.2 million or $0.13 per share — up from $14.6 million, or $0.10 per share, in the previous year.
Shares of this gold stock possess a very favourable P/E ratio of 16, far outpacing its rivals. Moreover, the company boasts an immaculate balance sheet. Wesdome is worth snatching up as the spot price of gold gains momentum.
