Canada Mining Stocks to Watch Amidst COVID-19 Pandemic: Kirkland Lake Gold Ltd. (TSX: KL) Labrador Iron Ore Royalty Corp (TSX: LIF) and Barrick Gold (NYSE:GOLD)

A vast pool of natural resources sees Canada play host to one of the biggest mining industries in the world. Ranked among the top five worldwide producers of metals and minerals, the mining industry acts as a key driver of Canada’s economy. Similarly, Kirkland Lake Gold Ltd. (TSX: KL) Labrador Iron Ore Royalty Corp (TSX: LIF) and Barrick Gold (NYSE:GOLD) are some of the stocks worth watching in the country’s burgeoning mining industry at a time when Coronavirus is causing havoc.

Kirkland Diversified gold Prospects

Kirkland Lake Gold Ltd. (TSX:KL) is a must watch, as gold prices continue to gain in both price and value. The sell-off in the equity market is forcing investors to switch their attention to safe havens of the likes of Gold.  With gold prices trying to find support above the $1600 an ounce, now may be the best time to bet on $KL.

The Canada-based gold mining company boasts of a diversified portfolio of assets located in stable mining jurisdictions of Australia and Canada. With its flagship mine the Macassa Mine in northeastern Ontario, #KL remains well-positioned to benefit a great deal as gold prices continue to edge higher. In addition, the company owns the Fosterville Gold mine in Australia

Kirkland Gold’s revenue base has continued to grow in recent years, surging from $948 million in 2017 to highs of $1.82 billion in 2019. Conversely, the company should be able to generate more revenues as well as shareholder value as gold prices rise past the $1600 an ounce level

Labrador Iron Ore Solid Financials

Labrador Iron Ore Royalty Corp (TSX:LIF) stands out in the Canadian mining industry on the fact that that it boasts of strong financials as well as high earnings growth.  The company is an ideal pick for investors looking to diversify their investment portfolio with stakes in the Iron ore business. $LIF owns and operates a 15% of iron ore mine in Newfoundland & Labrador.

While has #LIF has pulled lower in recent months in the wake of market correction triggered by the Covid-19 pandemic,  now may be the time to buy the stock at a great discount. The company saw its cash flow from operations nearly double in 2019 to $224.6 million, as net income grew to $205.3 million from $128.5 million. The company also paid dividends amounting to $110.1 million or $1.72 a share compared to $83.9 million the previous year.

Barrick Gold Market Edge

Barrick Gold (NYSE:GOLD) is a household name in Canada is the mining industry on being one of the biggest gold producers in the world.  Considered as the gold standard, $GOLD is an ideal pick for investors looking for excellent gold exposure.

The company has been killing it in the mining fields, a milestone that set the stage for it to generate significant revenues as gold prices continue to edge higher.  Analysts expect the stock to gain more than 8% over the next 12 months after a recent pullback triggered by the coronavirus sell-off. With insiders, stepping up to, the plate and buying #GOLD shares, retail investors can also grab the opportunity to buy the stock at a discount.

Subscribe to Money News Alerts

This article by Money News National is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Money News National has no position in the stocks mentioned. Thank you for reading.


This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.


Please enter your comment!
Please enter your name here