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Friday's Bonus Story 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 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. "The America you knew is dying in front of you"
That's the urgent warning the former $200 million hedge fund firm manager who predicted 2008 and 2020 just issued. He says if you're over 50, there's one urgent move you need to make to survive... or risk getting left behind. The rules are changing: Here's your financial lifeline. 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, many global institutions moved away from Treasury bonds and into gold. Retail investors, by contrast, were largely absent. Now that's starting to change. Eversole points to a key indicator: shares outstanding in gold ETFs such as SPDR Gold Shares (NYSEARCA: GLD), which had been declining for years. That trend has reversed and ETF shares are climbing again—a sign individual investors are moving back into the market. When retail investors finally catch on to a boom, history shows what usually follows: - The trend accelerates
- Valuations rise quickly
- The boom can eventually morph 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 started in 2001 and ran for about a decade, with prices rising roughly 600% before peaking. The current cycle began around 2018, so we're only a few years into a similar long-term trend. If history repeats, gold could roughly double from here—and silver may outperform. Silver has long been the metals market's wild card: more volatile and speculative, but capable of much larger percentage gains once momentum builds. Eversole believes we're approaching that stage. If gold hits $8,000, silver could reach $200 an ounce—about 4x potential upside from current levels. That makes the right mining stocks especially compelling now. 4 Mining Stocks That Could Lead the Metals Boom There's more than one way to play a metals bull market—these four names illustrate different paths to leverage. They aren't household names (yet), but Brett Eversole believes they have significant upside if gold and silver continue higher. First Majestic Silver: A Pure Play on Silver's Breakout If silver takes off in the late stage of this cycle, First Majestic Silver (NYSE: AG) could be a major beneficiary. Headquartered in Canada, the company's mining operations are all in Mexico, and roughly 60% of its revenue comes from silver. This isn't a newcomer 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 kind of historical performance suggests First Majestic not only follows silver—it can soar when the metal does. Hecla Mining: A Low-Cost Producer with Big Leverage Hecla Mining (NYSE: HL) offers exposure to both gold and silver, with production roughly split 50/50. What sets Hecla apart is its low operating costs 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—about half the industry average." That cost advantage becomes a powerful lever when metals prices rise: Hecla can capture more profit on each incremental price increase without relying on risky jurisdictions or unproven projects. Equinox Gold: From Builder to Cash Generator Equinox Gold (NYSEAMERICAN: EQX) has shifted from asset accumulation to focusing on profitability. After years of growth investment, the company is now optimizing operations 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 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 rising from roughly $80 million to about $1 billion, Equinox is positioning itself as a significant cash generator. 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 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. Seabridge's structure gives it high leverage to the price of gold: as gold rises, the economic value of its reserves increases dramatically. If a joint venture is announced while prices are climbing, the stock could reprice quickly. Why the Rally Still Has Room to Run This isn't just a short-term pop. Eversole argues we're still early in a broad global boom that's lifting many asset classes together: - Stock markets worldwide are near or at all-time highs
- Mid-cap and small-cap equities are breaking out
- Gold and silver are surging alongside them
When multiple sectors and regions rally in concert, it typically signals broader economic strength—not just a temporary rush into one asset class. The Risk—and the Opportunity Metals can be volatile. Gold has moved sharply in recent months, and a pullback would not be surprising. Eversole, however, views such dips as buying opportunities rather than warning signs. The "mania phase"—when everyone's talking about gold, ads flood the internet, and retail investors pour in at the top—hasn't arrived yet. We're not there yet. That's why there may still be time to position for what comes next.
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