Unlock the Power of Gold Investing
When it comes to investing in gold, buying bars from Costco may not be the most lucrative option. Instead, consider diversifying your portfolio with top-performing dividend-paying gold stocks.
Agnico Eagle Mines: A Shining Star
With over 60 years of experience, Agnico Eagle Mines has established itself as a leading gold producer. Its impressive portfolio of 11 assets across four countries is expected to yield approximately 3.45 million ounces of gold in 2024. The company’s commitment to rewarding shareholders is evident in its 41-year history of paying dividends, with a forward-yielding dividend of 2%.
Centerra Gold: A Bargain Worth Considering
Centerra Gold may not be the largest gold stock on the market, but its payout is certainly one of the most attractive. With a forward yield of 2.9%, it’s a compelling option for investors seeking income. Currently undervalued, Centerra’s shares are trading at a discount to their five-year average cash flow multiple. The company’s solid balance sheet, zero debt, and $592 million in cash on hand make it an appealing choice.
Franco-Nevada: A Royalty and Streaming Powerhouse
For a unique approach to gaining gold exposure, consider Franco-Nevada, a royalty and streaming company. By providing upfront capital to gold mining companies, Franco-Nevada receives a percentage of the mine’s sales or the right to purchase future production at an agreed-upon price. Its formidable portfolio of 432 projects, including 118 in production, 38 in development, and 276 in exploration, represents a diverse range of commodities.
Why These Stocks Outshine Buying Bullion
Investing in these dividend-paying gold stocks offers a more promising return than buying bullion. While the price of gold must rise for bullion to appreciate, these stocks provide a steady income stream and potential for long-term growth. Agnico Eagle, Centerra Gold, and Franco-Nevada have demonstrated their commitment to rewarding shareholders, making them attractive options for those seeking to diversify their portfolios with a gold investment.
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