7 Canadian Gold Stocks to Watch: Investment Idea of the Day

Published:

In the wake of prevailing rise in gold prices ahead of a meeting of finance ministers that is set to discuss Greece’s future in the euro zone and the uncertainty over whether a compromise could be found to avoid Greece’s exit from the euro zone, today we have shortlisted seven gold stocks of Canada as the current situation could lift retail demand for the metal. Moreover these stocks have reported decent gold reserves during their latest reported fiscal year. During past one month some of the stocks have registered price gains with daily average trading volumes in excess of 100,000.

Company Name

Ticker

Exchange

Market Cap
(C$MN)

Last Price

Average Volume
(1 Month)

Price Change (1-Month)

Proved and Probable Gold Reserves (in millions of ounces)

Seabridge Gold Inc

SEA

TSX

494.5

10.22

124,318

-5.6%

38.20

Eldorado Gold Corp

ELD

TSX

4,392.5

6.13

6,525,460

-23.2%

27.73

New Gold Inc

NGD

TSX

2,425.3

4.77

3,069,244

-12.3%

18.54

Yamana Gold Inc

YRI

TSX

4,810.4

5.13

9,048,477

-3.2%

16.29

Detour Gold Corp

DGC

TSX

1,980.2

11.61

3,859,375

1.8%

15.49

Centerra Gold Inc

CG

TSX

1,683.2

7.12

1,492,298

5.5%

10.17

IAMGOLD Corp

IMG

TSX

1,160.9

3.08

4,420,116

-12.0%

10.13

Source: Bloomberg

Company Description

Seabridge Gold Inc (TSX: SEA)
Seabridge Gold, Inc. is a development-stage company engaged in the acquisition, exploration, engineering design, and permitting of gold properties located in North America. The company seeks to sell or partner with producers in these properties, and their reserve and resource base includes gold, copper, silver, and molybdenum. Seabridge’s principal projects are located in Canada.

Eldorado Gold Corp (TSX: ELD)
Eldorado Gold Corporation acquires, explores, and develops mineral properties. The company currently has operating gold mines in Brazil, China, Turkey, Greece, and surrounding regions.

New Gold Inc (TSX: NGD)
New Gold Inc. is a natural resource company. The company acquires, explores, and develops gold properties.

Yamana Gold Inc (TSX: YRI)
Yamana Gold Inc. is an intermediate gold producer with production, development stage, and exploration properties throughout Brazil. The company also holds gold exploration properties in Argentina.

Detour Gold Corp (TSX: DGC)
Detour Gold Corporation explores for and produces gold in Canada.

Centerra Gold Inc (TSX: CG)
Centerra Gold Inc, acquires, explores, develops, and operates gold properties primarily in Central Asia, the former Soviet Union, and other emerging markets. The company currently operates the Kumtor mine in the Kyrgyz Republic and the Boroo mine in Mongolia.

IAMGOLD Corp (TSX: IMG)
IAMGOLD Corporation is a mid-tier gold mining company. The company is focused in West Africa, the Guiana Shield of South America and in Quebec where it has a pipeline of development and exploration projects.

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