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For Your Education and Enjoyment The Metals Market Is Heating Up—4 Stocks Poised to ShineWritten by Bridget Bennett. Published 11/6/2025. 
Key Points - Gold has risen from $1,800 to nearly $3,000—and according to Brett Eversole, it could go much higher.
- Retail investors are just starting to re-enter the gold market, signaling a new, accelerating phase.
- Four metal stocks offer potential upside for investors looking beyond bullion: AG, HL, EQX, and SA.
The metals market is one of the fastest-growing spaces right now, yet most investors are still ignoring it. Gold has climbed from about $1,800 an ounce to nearly $3,000, and according to Stansberry Research's Brett Eversole, that's just the beginning. He believes this bull market could ultimately send gold to $8,000–$10,000 per ounce before it's all over. See the Signals Most Traders Miss
We monitor subtle shifts in order flow, volume patterns, and early trend behavior.
Stock News Trends highlights moves long before they hit mainstream screens. Join Free — Start Tracking Early Market Data That may sound bold, but the data—and the investor behavior behind it—tell a convincing story. A Shift in Who's Buying Gold For years, central banks were the main buyers pushing gold higher. Between 2022 and 2024, many global institutions shifted away from U.S. Treasuries and increased their gold purchases. Retail investors, by contrast, were largely absent. Now that's starting to change. Eversole highlights a key indicator: shares outstanding in gold ETFs like SPDR Gold Shares (NYSEARCA: GLD), which had been declining for years. That trend has reversed—ETF shares are climbing again, a sign that individual investors are returning to the market. When retail investors finally catch on to a boom, history shows what tends to happen next: - The trend accelerates
- Valuations rise quickly
- The boom can eventually turn into a bubble
But as Eversole puts it, "Between now and then, there's a lot of money to be made." Why Gold (and Silver) Still Have Room to Run Markets move in cycles. The last major gold boom began in 2001 and lasted about a decade, with prices rising roughly 600% before peaking. The current cycle began around 2018, so we're only about seven years into a similar long-term trend. If history repeats, gold could roughly double from here—and silver may do even better. Silver has long been the "wild card" of the metals world: more volatile and more speculative, but capable of much larger percentage gains once momentum builds. Eversole believes we're approaching that stage now. If gold hits $8,000, silver could reach $200 an ounce—that's roughly 4x upside from current levels. That makes the right mining stocks particularly compelling right now. 4 Mining Stocks That Could Lead the Metals Boom There's more than one way to play a bull market—and these four names illustrate different approaches. They aren't household names (yet), but Brett Eversole believes they have significant upside if gold and silver continue to climb. First Majestic Silver: A Pure Play on Silver's Breakout If silver takes off in the late stage of this bull cycle, First Majestic Silver (NYSE: AG) could be a major beneficiary. The company is headquartered in Canada, but all its operations are in Mexico—and about 60% of its revenue comes from silver. First Majestic isn't new to metals rallies. "During the early 2000s, they were up five or six hundred percent in a couple of years," Brett says. "Coming out of the financial crisis, they were up a couple of thousand percent." That historical performance suggests First Majestic doesn't just track silver—it can outperform in a strong silver market. Hecla Mining: A Low-Cost Producer with Big Leverage Hecla Mining (NYSE: HL) offers exposure to both gold and silver, with production split roughly 50/50. What sets Hecla apart is its operating footprint and notably low costs. "They've got strong assets in good places and they're a low-cost producer," Brett notes. "Their cost to pull an ounce of silver out of the ground is around $13 an ounce. That's about half what the industry average is." That cost advantage becomes a powerful engine when metals prices rise. Hecla's low base lets it capture more profit on each price increase—without the risk of exotic jurisdictions or unproven operations. Equinox Gold: From Builder to Cash Generator Equinox Gold (NYSEAMERICAN: EQX) is shifting from growth-by-acquisition to profitability. After years of investing in assets, it's now focused on turning those assets into cash—just as gold prices accelerate. Production is projected to rise from 800,000 to 1.2 million ounces by 2027, while costs are expected to fall from about $1,900 to $1,500 per ounce. It's the kind of operational pivot investors look for. "This company is going to turn into a cash-gushing machine," Brett says. With projected free cash flow potentially jumping from roughly $80 million to $1 billion, Equinox is positioning itself as a generator of substantial cash flow. Seabridge Gold: A High-Upside Bet on What's Still Underground Seabridge Gold (NYSE: SA) doesn't currently produce gold—but it controls one of the world's largest undeveloped gold and copper assets. Its flagship KSM project in British Columbia is estimated to contain $25–$30 billion worth of metals. What Seabridge needs now is a partner. "I think that when that joint venture deal is announced… this is a massive upside catalyst for the stock," Brett says. Because of its structure, Seabridge is highly leveraged to the price of gold. As prices rise, the economic value of its reserves increases dramatically. If a joint venture is announced while gold is climbing, Seabridge could reprice quickly. Why the Rally Still Has Room to Run This isn't just a short-term surge. Eversole argues we're still early in a global boom that's lifting nearly every asset class: - Stock markets around the world are at or near all-time highs
- Mid-cap and small-cap equities are breaking out
- Gold and silver are surging alongside them
When multiple sectors and geographies rally together, it more often signals broad-based strength—not just a temporary rush into one asset class. The Risk—and the Opportunity Yes, metals can be volatile. Gold has moved sharply in recent months, and a pullback wouldn't be surprising. Eversole views such dips as buying opportunities rather than red flags. The so-called "mania phase"—when everyone's talking about gold, ads flood the internet, and retail pours in at the top—hasn't arrived yet. We're not there yet. And that's precisely why there may still be time to position for what comes next.
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