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CTV News
a day ago
- Business
- CTV News
Gold a bright spot for TSX as Canadian index outperforms S&P 500
The TSX ticker is shown in Toronto on May 10, 2013. THE CANADIAN PRESS/Frank Gunn Gold and precious metals have been a bright spot this year, helping the S&P/TSX composite index outperform the S&P 500, with fund managers saying there could still be time for retail investors to get in on the action. 'In Canada, gold has been the huge mover, and I think if you break apart the index, gold is now at 12 per cent of our index, and that has been the huge winner,' said John Zechner, chairman and founder of J. Zechner Associates. 'That to me is the single most important reason why Canada has played such catch-up and has actually done better than the S&P 500, certainly this year so far.' The TSX was up roughly 11 per cent year-to-date, as of Wednesday afternoon, while the S&P 500 was up about eight per cent, according to LSEG Data & Analytics. Meanwhile, the price of gold has risen about 30 per cent over the course of the year so far, with the August gold contract hovering around US$3,400 an ounce. Dennis da Silva, senior portfolio manager at Middlefield, agreed that the gold sector is 'the largest contributor' in driving the TSX higher. 'If you look at the S&P/TSX global gold index, that's up 40 per cent year-to-date. So if you tie that into the TSX, I would say about 30 per cent of the index's return is driven by gold and silver names or precious metals in general,' he said in an interview last week. In contrast, U.S. markets have been primarily driven by large-cap technology companies in recent years that 'pushed forward that U.S. exceptionalism story,' said Chris McHaney, head of investment management and strategy at Global X Investments Canada. 'I won't say it's run out of steam, but it has started to look like some of those drivers are starting to slow down in terms of the amount of growth that's being provided to the U.S. market,' he said. McHaney noted the performance of the so-called magnificent seven group of stocks has been split this year. The magnificent seven is a group of large-cap U.S. tech stocks that have a major influence on equity markets. The list includes Alphabet, Amazon, Meta Platforms, Microsoft, Nvidia and Tesla. For example, Tesla shares are down nearly 20 per cent year-to-date; meanwhile, Alphabet shares are flat. On the flip side, Nvidia and Microsoft shares are up roughly 27 per cent and 20 per cent, respectively, since the start of the year. The mixed picture has helped Canada's more metal-focused index gain, said McHaney. 'It really is more of a story of gold has been on fire and in Canada, we just have more exposure to that,' he said. According to da Silva, there are a few reasons why gold prices have risen, one being that the commodity benefited from demand for safe haven assets, particularly as the global trade dispute flared up. Stock markets have been volatile this year, particularly in March and April, when U.S. President Donald Trump started rolling out tariffs on countries around the world, only to delay many. The uncertainty over how the global economy and company profits would be impacted by changing trade policies has driven investors to safe haven assets like gold. McHaney said there are a few factors that influence the price of gold — government deficits around the world, inflation concerns and trade uncertainty tend to be positive ones — but it can be difficult to assess which is driving price moves at a given time. Central banks around the world were also buying more of the key commodity as another source of reserve currency, da Silva said. He noted this trend became more common after the U.S. and European Union froze Russian assets after it invaded Ukraine. 'I think that was kind of a wake-up call that your assets are not safe. They can be frozen, and that caused countries to re-evaluate how they hold foreign reserves. I think at that point that's when we started to see pretty active buying,' da Silva said. While McHaney said it is difficult to determine whether the TSX will continue to outperform the S&P 500, he said he also doesn't think retail investors have missed the boat in terms of investing in gold specifically. 'I think some of those drivers that have been working well for Canada are not necessarily going away tomorrow either. There could be a psychological element of maybe 'I missed that performance, I'll just stay where I am,'' he said. 'We think gold itself might not keep rising in value, but it just has to stay kind of where it is now for the gold equities to continue to do very strongly.' This report by The Canadian Press was first published July 24, 2025. Daniel Johnson, The Canadian Press
Yahoo
a day ago
- Business
- Yahoo
Gold a bright spot for TSX as Canadian index outperforms S&P 500
Gold and precious metals have been a bright spot this year, helping the S&P/TSX composite index outperform the S&P 500, with fund managers saying there could still be time for retail investors to get in on the action. 'In Canada, gold has been the huge mover, and I think if you break apart the index, gold is now at 12 per cent of our index, and that has been the huge winner,' said John Zechner, chairman and founder of J. Zechner Associates. 'That to me is the single most important reason why Canada has played such catch-up and has actually done better than the S&P 500, certainly this year so far.' The TSX was up roughly 11 per cent year-to-date, as of Wednesday afternoon, while the S&P 500 was up about eight per cent, according to LSEG Data & Analytics. Meanwhile, the price of gold has risen about 30 per cent over the course of the year so far, with the August gold contract hovering around US$3,400 an ounce. Dennis da Silva, senior portfolio manager at Middlefield, agreed that the gold sector is 'the largest contributor' in driving the TSX higher. 'If you look at the S&P/TSX global gold index, that's up 40 per cent year-to-date. So if you tie that into the TSX, I would say about 30 per cent of the index's return is driven by gold and silver names or precious metals in general,' he said in an interview last week. In contrast, U.S. markets have been primarily driven by large-cap technology companies in recent years that 'pushed forward that U.S. exceptionalism story,' said Chris McHaney, head of investment management and strategy at Global X Investments Canada. 'I won't say it's run out of steam, but it has started to look like some of those drivers are starting to slow down in terms of the amount of growth that's being provided to the U.S. market,' he said. McHaney noted the performance of the so-called magnificent seven group of stocks has been split this year. The magnificent seven is a group of large-cap U.S. tech stocks that have a major influence on equity markets. The list includes Alphabet, Amazon, Meta Platforms, Microsoft, Nvidia and Tesla. For example, Tesla shares are down nearly 20 per cent year-to-date; meanwhile, Alphabet shares are flat. On the flip side, Nvidia and Microsoft shares are up roughly 27 per cent and 20 per cent, respectively, since the start of the year. The mixed picture has helped Canada's more metal-focused index gain, said McHaney. 'It really is more of a story of gold has been on fire and in Canada, we just have more exposure to that,' he said. According to da Silva, there are a few reasons why gold prices have risen, one being that the commodity benefited from demand for safe haven assets, particularly as the global trade dispute flared up. Stock markets have been volatile this year, particularly in March and April, when U.S. President Donald Trump started rolling out tariffs on countries around the world, only to delay many. The uncertainty over how the global economy and company profits would be impacted by changing trade policies has driven investors to safe haven assets like gold. McHaney said there are a few factors that influence the price of gold — government deficits around the world, inflation concerns and trade uncertainty tend to be positive ones — but it can be difficult to assess which is driving price moves at a given time. Central banks around the world were also buying more of the key commodity as another source of reserve currency, da Silva said. He noted this trend became more common after the U.S. and European Union froze Russian assets after it invaded Ukraine. 'I think that was kind of a wake-up call that your assets are not safe. They can be frozen, and that caused countries to re-evaluate how they hold foreign reserves. I think at that point that's when we started to see pretty active buying,' da Silva said. While McHaney said it is difficult to determine whether the TSX will continue to outperform the S&P 500, he said he also doesn't think retail investors have missed the boat in terms of investing in gold specifically. 'I think some of those drivers that have been working well for Canada are not necessarily going away tomorrow either. There could be a psychological element of maybe 'I missed that performance, I'll just stay where I am,'" he said. 'We think gold itself might not keep rising in value, but it just has to stay kind of where it is now for the gold equities to continue to do very strongly.' This report by The Canadian Press was first published July 24, 2025. Companies in this story: (TSX:GSPTSE) Daniel Johnson, The Canadian Press Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Could these gold stocks beat the market in what's left of 2025?
The stock market's been red-hot in 2025, buoyed by… well, Trump's tariffs not being as bad as they could have been. In fact, the market's so hot in places, notably the US, I'm holding more cash than usual. Beneath this market exuberance lies a growing risk of a market correction or downturn. Hence my cash holding. And when equity markets falter, investors often turn to gold as a safe haven, driving the precious metal's price sharply higher. The rationale's clear: gold historically thrives in periods of uncertainty, inflationary pressures, and geopolitical tensions. These are conditions that remain prevalent today. In fact, gold prices have surged over 30% year-to-date, reaching a new psychological barrier above $3,000 per ounce, with some forecasting $4,000/oz into 2026. Central bank buying, ETF inflows, and de-dollarisation trends underpin the bullish outlook, setting the stage for gold and its miners to potentially outperform if stocks retreat. However, if this red hot stock market takes a nasty turn, the outlook could become even more bullish. Gold miners are already winning Against this backdrop, gold mining stocks have already outperformed many sectors, but there could still be room to run. Among the key London-listed gold stocks, Fresnillo (LSE:FRES) could be an attractive proposition to consider. With a market capitalisation approaching £11bn, Fresnillo is Mexico's largest precious metals producer and a major player in both gold and silver markets. The company's solid operational discipline and cost controls have contributed to vastly improved operational performance. Adjusted revenue rose 27% to $3.6bn, while gross profit more than doubled to over $1.2bn. Naturally, this was helped by improving gold and silver prices. Fresnillo benefits from exposure to rising gold prices but also enjoys diversification through its significant silver production. This dual commodity exposure helps smooth revenue volatility. Although the recent production challenges at its Sabinas mine warrant monitoring, the company's strong balance sheet and focus on efficient operations position it well to navigate potential challenges. Management's indicated a willingness to return capital to shareholders as growth projects mature, suggesting the potential for dividends or buybacks that could add further appeal to investors. Room to run Smaller gold producers like Greatland Gold and Hochschild Mining have posted impressive gains in 2025, buoyed by rising gold prices. And if gold continues its upward trajectory amid macroeconomic uncertainty, Fresnillo and its peers could outperform the broader market. Ironically, the company's with the weaker balance sheet may perform best if gold rises further. The new price environment fundamentally changes the value proposition for some gold miners. Personally, I believe I need to do some more research into these individual stocks before making a decision. However, I certainly believe there could be value in holding more gold-focused investments in my portfolio. Despite this, I'm aware of that these stocks could plummet if gold reverses. It requires close monitoring. The rewards however, could be great. If gold goes up, it could beat the market. The post Could these gold stocks beat the market in what's left of 2025? appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool James Fox has no position in any of the shares mentioned. The Motley Fool UK has recommended Fresnillo Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
Globe and Mail
3 days ago
- Business
- Globe and Mail
South America's Golden Triangle: Where Regional Mining Giants Are Staking Their Claims
• Aris Mining Corporation leads Colombian gold production with over 226,000 ounces in 2023 • Cerrado Gold Inc. operates high-grade Argentine operations while Lundin Gold Inc. advances Ecuador's mining transformation • Magma Silver Corp. positions itself strategically in Peru's proven mining district as regional opportunities multiply South America's mining landscape extends far beyond any single country, forming a continental network of precious metals opportunities that spans from Colombia's emerald mountains to Argentina's vast pampas. As global demand for gold and silver intensifies amid monetary uncertainty and industrial electrification, the region's diverse geological provinces are attracting renewed capital flows and operational expansion. From the high-altitude operations of the Andes to the lowland deposits of the Amazon basin, South America's mining hotspots are positioning themselves as critical suppliers in an increasingly resource-constrained world. Colombian Gold: A Strategic Northern Gateway Colombia's mining sector is experiencing significant momentum, led by companies like Aris Mining Corporation (TSX: ARIS) (NYSE: ARMN), which operates the Segovia Operations and the Marmato mine in Colombia, producing over 226,000 ounces of gold in 2023. The company's strategic positioning includes operating rights and a 20% ownership stake in the world-class Soto Norte project, with an option to increase to 50% ownership. Aris Mining says expansion of its two Colombian mines will start delivering increased output as soon as this year, with consolidated gold production projected to rise. Colombia's appeal extends beyond individual operations to encompass strategic geographic positioning. The country's dual-coast access provides logistical advantages for global markets, while its established mining workforce and improving infrastructure create operational efficiencies that international operators increasingly value. Argentine Operations: High-Grade Opportunities in the Southern Cone Argentina's mining sector is represented by companies like Cerrado Gold Inc. (TSX-Venture: CERT), which owns the Minera Don Nicolas mine located in Santa Cruz, Argentina, a producing high-grade gold mine with significant expansion and exploration potential. The company's operations demonstrate Argentina's capacity to host world-class mining assets despite periodic economic volatility. Argentina's mining-friendly policies, particularly in provinces like Santa Cruz and Catamarca, have attracted substantial international investment. The country's vast mineral endowment, from lithium in the north to gold in Patagonia, creates a diversified resource base that appeals to operators seeking portfolio balance across commodity types and geographic regions. Ecuador's Mining Renaissance: The Pacific Rim Advantage Ecuador represents one of South America's most compelling mining transformation stories, with companies like Lundin Gold Inc. (TSX: LUG) pioneering large-scale development in the country's copper-gold belt. Ecuador's mining sector has evolved rapidly from artisanal operations to industrial-scale development, supported by improved regulatory frameworks and strategic infrastructure investments. The country's position along the Pacific Rim provides direct access to Asian markets, while its skilled workforce and proximity to established mining supply chains create operational synergies. Ecuador's geological prospectivity, particularly in porphyry copper-gold systems, mirrors successful mining districts throughout the Andean belt. Peru: The Proven Mining Powerhouse While neighboring countries develop their mining sectors, Peru maintains its position as South America's most established mining jurisdiction. The country's combination of geological diversity, regulatory stability, and operational infrastructure continues to attract both major producers and emerging explorers seeking low-risk, high-reward opportunities. Peru's mining sector benefits from decades of continuous operation, creating deep institutional knowledge and established supply chains that reduce development risks and operational costs. The country's geographic position provides access to both Pacific and Atlantic markets, while its skilled workforce and mining-focused educational institutions ensure operational continuity. This proven environment provides the backdrop for companies like Magma Silver Corp. (TSX-Venture: MGMA) (OTCQB: MAGMF) to advance their exploration programs with confidence. The company's Niñobamba Project benefits from Peru's established mining framework while offering exposure to both gold and silver markets through its dual-commodity potential. Magma Silver: Positioned for Peru's Next Chapter Magma Silver Corp. has strategically positioned itself within Peru's mining ecosystem through its right to acquire a 100% ownership of the 4,100-hectare Niñobamba Project in the Ayacucho region. The company's approach reflects lessons learned from successful regional operators: focus on high-grade targets, leverage historical data, and maintain operational discipline. The Niñobamba Project is across three gold-silver deposits - Niñobamba, Jorimina, and Randypata - providing operational flexibility that many regional operators lack. With over $14.5 million in historical exploration investment and comprehensive geological databases, Magma enters its next exploration phase with significant technical advantages. The company's upcoming Q4 2025 drilling program at Jorimina will focus on confirming and increasing known mineralization while testing for further targets. Newmont Corp. (NYSE: NEM) (TSX: NGT) previously invested $10 million CAD in exploration on the Jorimina and Randypata deposits, identifying several extensive surface gold and silver anomalies on both areas. Newmont's key rock channel sample highlights include: 17.4 m of 3.06 g/t Au and 200m of 0.26 g/t Au. Newmont completed 4,377 m of drilling at Jorimina, and 3,504 m of drilling at Randypata. Highlights from the drilling include Hole - JOR-001: 150m of 0.69 g/t Au which includes an interval of 72.3m of 1.19 g/t Au and Hole – JOR-003: 48m of 0.52 g/t Au. Note that these results are historical and have not been verified by the Company's geologist. Highlights from the trenching program conducted by Rio Silver (TSX-Venture: RYO) (OTCPK: RYOOF) in 2012 at the Niñobamba North Zone, discovered a new gold-silver zone including 56 metres of 1.03 g/t Au and 98.9 g/t Ag in trench TR-01 and 21.77 metres of 1.32 g/t Au and 102.46 g/t Ag in TR-04 ending in mineralization ( Rio Silver News Release of January 14, 2013). These results show the Niñobamba property possesses a strong silver and gold component associated with a high sulphation mineralizing event. Further exploration is required to determine the precious metal zonation, alteration patterns and widths. The trenches were cut approximately perpendicular to the mineralized structure, and the true width of mineralization is yet to be determined. Strategic Positioning in a Regional Context Magma Silver's Peru-focused strategy contrasts favorably with more geographically dispersed approaches. While regional operators manage political and operational risks across multiple jurisdictions, Magma benefits from deep local knowledge and established relationships within Peru's mining community. The company's leadership team combines international capital markets experience with on-ground operational expertise, creating a management structure suited to Peru's mining environment. This combination becomes increasingly valuable as regional competition for skilled personnel and contractor services intensifies. The Regional Resource Equation South America's mining landscape demonstrates that successful resource development requires more than geological potential. Companies like Aris Mining in Colombia, Cerrado Gold in Argentina, and Lundin Gold in Ecuador succeed through strategic positioning, operational discipline, and deep understanding of local conditions. Magma Silver's approach reflects these lessons, combining Peru's proven mining advantages with focused execution and strategic asset consolidation. As regional mining activity accelerates and global demand for precious metals intensifies, companies with established positions in proven jurisdictions may find themselves increasingly well-positioned for the next phase of South American mining development. The continent's diverse mining opportunities create multiple pathways to success, but Peru's combination of geological potential, regulatory stability, and operational infrastructure continues to provide compelling advantages for focused explorers ready to execute disciplined growth strategies. Disclaimer: All opinions and information provided above are intended for educational and research purposes only. The information provided above should be used as a starting point for conducting any research on the public companies discussed. All readers should do their own due diligence and research when determining which investment strategies are best suited for them or seek the advice of an investment professional prior to making an investment decision. The profiles of the above discussed public companies are not in any way a solicitation or a recommendation to buy, sell or hold their securities. Magma Silver Corp. has initiated for digital media advertising valued at thirteen thousand five hundred dollars. Any forward-looking statements set forth in the article above are based on expectations, estimates and projections at the time such statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of words such as 'projects,' 'foresees' 'expects,' 'will,' 'anticipates,' 'estimates,' 'believes,' 'understands' or by statements indicating certain actions 'may,' 'could' or 'might' occur. There is no guarantee past performance will be indicative of future results or that any such forward-looking projections will occur. For a complete disclaimer, investors are encouraged to click here: View more of this article on About Media, Inc.: Founded in 1999, is one of North America's leading platforms for micro-cap insights. Catering to both Canadian and U.S. markets, we provide a wealth of resources and expert content designed for everyone—from beginner investors to seasoned traders. is rapidly gaining recognition as a leading authority in the micro-cap space, with our insightful content prominently featured across numerous top-tier financial platforms, reaching a broad audience of investors and industry professionals. Want to showcase your company's story to a powerful network of investors? We can help you elevate your message and make a lasting impact. Contact us today. Contact: Media, Inc.
Zawya
3 days ago
- Business
- Zawya
South Africa: Sibanye-Stillwater to acquire US PGM refinery for $82mln
Sibanye-Stillwater announced that it has entered into a purchase agreement to acquire Metallix Refining for $82m. In operation for the last 60 years, Metallix produces recycled precious metals, including gold, silver and platinum group metals (PGMs), primarily from industrial waste streams. It operates two processing and recycling operations in Greenville, North Carolina. Metallix has a global customer base, which it services from the United Kingdom and South Korea, in addition to its customers in the United States. For the 12 months ended 31 December 2024, Metallix processed approximately 4.2 million lbs of precious metals bearing waste materials and produced approximately 21koz of gold, 874koz of silver, 48koz of palladium, 48koz of platinum, 4koz of rhodium, 3koz of iridium and 263klb of copper. Metallix complements Sibanye-Stillwater's US recycling operations in Montana and Pennsylvania, adding processing capacity and proprietary technology. Sibanye-Stillwater CEO Neal Froneman commented: 'We are excited to be adding Metallix to our existing recycling footprint – the scale, technology, and know-how add positively to our existing recycling operations and advance our urban mining strategy. We expect significant value uplift through the large number of synergies with our existing recycling operations.' The acquisition enhances the group's global recycling reach and internal logistics capabilities, increasing its ability to source materials from multiple regions, facilitating the delivery of end-to-end solutions to customers. Based on the latest audited financial information, Metallix has recorded positive earnings and cash flow and is expected to contribute positively to the Sibanye-Stillwater Group's earnings and cash flow immediately. The transaction is expected to close during the third quarter of 2025, subject to receipt of applicable regulatory approvals customary to a transaction of this nature.
