As far as Gold stocks in Canada go, 2021 hasn’t been a great year for them. Stock markets have been performing consistently as more and more people are being vaccinated every day. A lot of investors are just waiting for things to reopen fully and are fully fixated on that. However, pricing themselves into a position like that might lead to problems. Yes, the Canadian Government has pumped in a massive amount of stimulus to resurrect the economy. But that was mainly done to counteract the negative economic effects of shutdowns. This move has definitely been successful and the economy has been recovering from the crisis. However, aside from the immediate impact, the pandemic induced lockdowns are definitely going to have long term effects also. Higher inflation is very likely to happen and nobody should be surprised when it hits. However, how bad will it get? Will it get out of hand and wreck the economy once again. Nobody can say for sure but we can definitely prepare for it. As it is well known, Gold performs very well when faced with inflation. If you consider inflation as the major long term risk of the pandemic lockdowns, then you should definitely buy some gold stocks to diversify and safeguard your money.
Here are best gold stocks to buy in Canada right now
Franco-Nevada (NYSE: FNV)
Kicking off the list of the best gold stocks to buy in Canada is Franco-Nevada Corporation. It operates as a gold-focused royalty and stream company in the United States, Latin America, Canada, Australia, Europe, and Africa, and internationally. It operates through two segments, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
Newmont Goldcorp (NYSE: NEM)
Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2020, it had proven and probable gold reserves of 94.2 million ounces and land position of 58,900 square kilometers. The company, which provides one of the best gold stocks to buy in Canada, was founded in 1916 and is headquartered in Denver, Colorado.
Kirkland Lake Gold (NYSE: KL)
Rounding up our list of the best Gold stocks in Canada is Kirkland Lake Gold Ltd. This firm engages in the acquisition, production, and operation of gold properties. The company holds interest in the Fosterville Mine located in the State of Victoria, Australia; and the Macassa Mine situated in the Municipality of Kirkland Lake, Ontario, Canada, as well as the Detour Lake Mine located in northeastern Ontario, Canada. It has a strategic alliance agreement with Newmont Corporation. The company was formerly known as Newmarket Gold Inc. and changed its name to Kirkland Lake Gold Ltd. in December 2016. Kirkland Lake Gold Ltd. is headquartered in Toronto, Canada.