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Featured Article from MarketBeat 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.
It’s one of the fastest-growing markets out there, yet most investors are still ignoring it. Gold has climbed from about $1,800 per ounce to nearly $3,000 per ounce, 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. Gold recently broke above $4,200 an ounce, and with analysts now calling for $6,000 under a Trump administration, seasoned investors are quietly moving part of their savings into physical gold before the next surge hits. With inflation lingering, the dollar weakening, and central banks hoarding at record levels, this may be one of the last chances to lock in today's prices and protect your retirement before volatility returns. Get your Free Wealth Preservation Guide while this window is still open That might 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 primary buyers pushing gold higher. Between 2022 and 2024, global institutions steadily shifted out of Treasury bonds and into gold. Retail investors? They were largely absent. Now, that’s starting to change. Eversole points to a key indicator: shares outstanding in gold ETFs like SPDR Gold Shares (NYSEARCA: GLD), which had been falling for years. That trend has reversed. ETF shares are climbing again—a sign that individual investors are moving back into the market. When retail investors finally catch on to a boom, history shows what typically follows: - The trend accelerates
- Valuations rise quickly
- The boom can eventually become 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 in 2018, so we’re only several years into a similar long-term trend. If history repeats, gold could roughly double from here—and silver may do even better. Silver has always been the “wild card” of the metals world: more volatile and more speculative, but also capable of far larger percentage gains once momentum builds. Eversole believes we’re reaching that stage now. If gold hits $8,000, silver could reach $200 an ounce—roughly 4x potential 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 gain exposure in a bull market—and these four names illustrate different approaches. They aren’t household names (yet), but Brett Eversole believes they have significant upside as gold and silver move higher. 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 one of the biggest beneficiaries. Headquartered in Canada, the company operates solely in Mexico and derives about 60% of its revenue from silver. This isn’t a newcomer to metals rallies. “During the early 2000s, they were up 500% to 600% in a couple of years,” Brett says. “Coming out of the financial crisis, they were up a couple of thousand percent.” That kind of historical performance matters: First Majestic doesn’t just move with silver—it can soar when the metal rallies. Hecla Mining: A Low-Cost Producer with Big Leverage Hecla Mining (NYSE: HL) gives investors exposure to both gold and silver, with production split roughly 50/50. What sets Hecla apart is its low cost structure and reliable assets. “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 per 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 allows it to capture more profit on every price increase without the risk associated with exotic jurisdictions or unproven projects. Equinox Gold: From Builder to Cash Generator Equinox Gold (NYSEAMERICAN: EQX) is moving out of asset-accumulation mode and into profitability. After years of investing in growth, it’s now positioned to generate significant cash as gold prices accelerate. Production is projected to increase from 800,000 to 1.2 million ounces by 2027, while costs are expected to fall from $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. Projected free cash flow is expected to jump from around $80 million to roughly $1 billion, transforming Equinox into a miner built for the moment. Seabridge Gold: A High-Upside Bet on What’s Still Underground Seabridge Gold (NYSE: SA) doesn’t currently produce gold, but it may hold one of the most valuable undeveloped gold and copper assets in the world. Its flagship KSM project in British Columbia is estimated to contain $25–$30 billion worth of metals. What it 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 climbs dramatically. If a joint venture is announced while gold continues to climb, Seabridge could reprice quickly and substantially. 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 multiple asset classes: - 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 usually 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 “mania phase”—when everyone’s talking about gold, ads flood the internet, and retail pours in at the top—has not arrived yet. We’re not there yet. And that’s exactly why there may still be time to position for what comes next.
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