Gold and the Canadian Stock Market: What’s the Latest?

Gold and the Canadian Stock Market

The mining sector in Canada has played a defining role in the country’s economic strength. That is a difficult fact to argue against. In 2016, the mining industry employed more than 373,000 workers across the country. At a local level, mining is very important in Canada. Equally as important, however, is the role that the mining and gold industry play in the economies of the country’s larger cities like Vancouver or Toronto.

Now that we understand just how important the mining industry is in Canada, let’s take a look to see how various Canadian gold companies are getting along today.

Friday, February 9, 2018.

  1. Buccaneer Gold Corporation (CVE:BGG)

Headquartered in Toronto, Buccaneer Gold Corporation is a company that focuses primarily on exploring and developing mineral properties in both Canada and Ghana. With a current market capitalization of 5.58 million, Buccaneer Gold Corporation is run under the leadership of CEO H. Richard Smith.

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Today, the Buccaneer Gold Corporation stock is seeing green. In fact, it is the only gold company on this list that is trading up today. As of this writing, Buccaneer is trading at $0.18, putting the stock up $0.06, or 44.00%.

  1. Northern Lion Gold Corporation (CVE:NL)

Northern Lion is based in another one of Canada’s major cities. With its head office located in Burnaby, Vancouver, Northern Lion Gold Corp. is a mineral exploration company. It is known for its development of mineral properties in Europe, primarily gold and silver.

Today, Northern Lion is trading down more than 20%. As of this writing, the company is trading at $0.41, which puts the NL stock down $0.11, or 22.12%. The company’s previous close was $0.52.

  1. Jubilee Gold Exploration Ltd. (CVE:JUB)

Founded in 2013, Jubilee Gold is also headquartered in Toronto, similar to Buccaneer Gold. It is primarily known for its role in exploring resource properties. Currently, the company has a market capitalization of 4.23 million.

Today, Jubilee Gold can be seen trading down nearly 20%. More specifically, as of this writing, Jubilee Gold is trading at $0.54, putting the stock down $0.11, or 16.92%. For perspective, the company previously closed at $0.65.

The Takeaway

Despite two of these stocks performing poorly today, the gold market in Canada is still something that investors should keep an eye on and think about adding to their investment portfolios. After all, when things take a turn for the worst, gold can sometimes act as a safety net on the stock market.

Featured Image: Depositphotos/© SergeyP