Centerra Gold Inc. (CGAU) is a gold mining company that acquires, explores, and develops gold and copper properties in North America and globally. The company’s principal project includes the 100% owned Mount Milligan gold-copper mine, located in British Columbia. It is headquartered in Toronto, Canada. In comparison, Osisko Gold Royalties Ltd (OR), which is headquartered in Montreal, Canada, primarily explores for gold and base metals. The company also owns options on royalty and stream financings.
Earlier this week, gold prices hit a one-month high, nearly touching the $2,000 per ounce mark, as Russia-Ukraine concerns and the economic issues due to COVID-19 restrictions in China drove a safe-haven bid for the yellow metal. Furthermore, the SPDR Gold Shares (GLD) ETF has gained 6.9% year-to-date, while the broader SPDR S&P 500 ETF Trust (SPY) has declined 6.4% over the same period. CGAU and OR are prominent gold mining stocks and might benefit from this scenario.
