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Thursday's Featured 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 right now, yet most investors are still overlooking 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 top small-cap signals for 2025 are already flashing — and once these moves begin, the entry window closes fast. Our free Wealth Building Report shows the signal pattern driving early momentum, the triggers to watch, and how to spot fast-moving setups before they accelerate. Get your free Wealth Building Report before the 2025 window closes That may sound bold, but the data—and the investor behavior behind it—paint a convincing picture. A Shift in Who's Buying Gold For years, central banks were the main drivers of higher gold prices. Between 2022 and 2024, global institutions steadily sold Treasury bonds and shifted into gold. Retail investors, however, were largely absent. That dynamic is starting to change. Eversole points to a key indicator: shares outstanding in gold ETFs such as SPDR Gold Shares (NYSEARCA: GLD), which had been falling for years. That trend has reversed—ETF shares are climbing again, suggesting 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 eventually becomes 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 ran 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 outperform. Silver has long been the "wild card" of the metals complex: more volatile and more speculative, but capable of much larger percentage gains once momentum builds. Eversole believes we're approaching that stage now. He estimates that if gold reaches $8,000, silver could hit $200 an ounce—roughly 4x upside from current levels. That outlook makes certain mining stocks particularly attractive right 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 ways investors can gain exposure. They aren't household names (yet), but Brett Eversole believes they have significant upside if gold and silver continue to run. 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. Headquartered in Canada, all of its mining operations are 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 doesn't just track silver—it can amplify the gains. Hecla Mining: A Low-Cost Producer with Big Leverage Hecla Mining (NYSE: HL) provides exposure to both gold and silver, with production split roughly 50/50. What really sets Hecla apart is its cost structure and the quality of its 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 an ounce—about half the industry average." That cost advantage becomes powerful as metals prices rise: a low base allows Hecla to 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 moved out of asset-accumulation mode and into profitability. After years of investment in growth, the company is now positioned to generate significant cash 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. That operational pivot is exactly what investors seek heading into a metals bull market. Brett says the company is on track to become "a cash-gushing machine," with projected free cash flow rising from roughly $80 million to about $1 billion. 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 increases dramatically. If a joint-venture deal is announced while gold is climbing, Seabridge could reprice quickly and sharply. Why the Rally Still Has Room to Run This looks like more than 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- 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 a single 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 views those dips as buying opportunities rather than reasons for alarm. The "mania phase"—when everyone's talking about gold, ads flood the internet, and retail money piles in at the top—has not arrived yet. We're not there. That's precisely why there may still be time to position for what comes next.
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