Amex Exploration, Wheaton Precious Metals And B2Gold Among Canadian Mining Stocks Riding On High Precious Metal Prices

Precious metals have been among the few bright spots this year amid the COVID-19 pandemic that has ravaged markets and Canadian mining stocks have performed exceptionally. In the second quarter, most investors turned to safe-haven assets such as gold with the demand surge leading to higher gold prices.

Amex Exploration discovered high-grade fold in Perron Gold Project

One of the company’s that is benefiting significantly from the recent surge in gold prices is Amex Exploration (TSXV:AMX) which has gained 7,000% in the last 12 months. The company hit high-grade gold in three different zones that include its 100% owned Perron Gold Project located in Quebec.

This gold mining stock offers a huge opportunity of multiplying returns in the long run because it is a leveraged play on gold. For Amex Exploration is exceptional performance was because it succeeded in an area where major miners had failed by hitting a huge discovery.

Wheaton Precious Metals among top-performing Canadian mining stocks

Another stock that has performed exceptionally is Wheaton Precious Metals Corp (NYSE:WPM) which reported inspiring Q2 2020 results.  Revenue was up 30.87% YoY to $247.954 million with the company producing 156,188 ounces of gold equivalent in the quarter. Net Income in the quarter was $105.812 million compared to a net loss of $124.694 million in Q2 2019.

From August 26, 2020, the company will be trading ex-dividend. It has declared a dividend of $0.1 per share payable on September 10, 2020, to stockholders who will be on record before the ex-dividend date.

B2Gold reported record Q2 2020 revenues

B2Gold Corp (NYSE:BTG) is also another Canadian mining stock that is currently looking hot. The company had record cash flow and revenue in Q2 2020 thanks to a 65% YoY increase in sales to $445 million. Despite the political instability in Mali where the company’s Fekola mine is located its operations have not been affected and the company is on track to produce a million gold ounces in 2020.

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.


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