With the gold price lifting off from when I said its at a bottom or very close to a bottom, its time to look at some miners that could be profitable to hold while the price of gold is on its way up. My target is 1300 for the price of gold, and Im hoping after one more drop after testing that level, we may finally pierce through that price. If we hit past 1325, I strongly feel we will complete the inverse head and shoulders pattern in the price of gold, which a lot of the miners also have in their stock price. This could be a huge opportunity.
Goldmining (gold.v) im rating a buy. I am a shareholder and believe their strategy of acquiring mines offers high upside while limiting the downside.
First majestic (fr.to) Rated a buy. this company has one of the highest percentage of revenue coming from silver so if silver goes up, this company has the best chance of leveraging the price change. I also like a ceo very much. rated a buy. Not a current shareholder.
First mining (ff.v) Same ceo as first majestic, Good entry price I believe. I am a current share holder. Rated a buy
Auryn resources (aug:TSE) Breaking out of its price range (triangle consolidation), looking very bullish. Not a shareholder but if I load up on more gold shares, this is most likely one of the two I load up on. Rated a buy
k92 mining (knt.v) New producer company, priced fairly low. They picked up a project for penny's on the dollar and have put it into production. This is at 52 week low and I think it has big upside to offer. I am a current shareholder and this is the only other company I would consider buying for sure if I was to increase my positions, which I may.
U.S gold corp (usau) This is a highly speculative position I have personally. It could do great or it could be a loss. Rated a speculative buy. Highly risky
Gran colombia gold (GCM) This company extremely interests me as it has high leverage to the price of gold. Check the price chart. It went from 9 cents to 2.40. This company has a market cap of 30m and has a lot of debt, but is paying it down. It is a producing mine and if the price of gold goes up, this company has the potential to pay of its debt and could go sky high from current prices. There is a risk if gold goes down, this company goes bankrupt though. 