Q: I have held BTO for 5 years. It has done nothing except for a dividend. Price of gold has skyrocketed and B2 gold just keeps moving down. My 5 year patience has been tested and I want to move on. Which gold stocks have the most upside?
5i Research Answer:
BTO has indeed been very disappointing. The sector stocks with the most upside though tend to be small companies that have higher fixed costs. In such cases, leverage to higher gold prices is greater. But we do not think it is the best time to add such risks. We would prefer to stick with larger companies such as AEM and WPM. AGI/FNV we think are also buyable. ARTG is an investor wants more risk in a small company.