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Today's Bonus Content 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. Trump's Next Export Ban Could Reshape the Global Economy
It's not semiconductors, AI chips or quantum computers. But none of those technologies can exist without it. On January 19th, 2026, Trump is expected to ban exports of something every tech company desperately needs—forcing them all to relocate to U.S. soil. See what he's about to ban here… 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 reduced Treasury holdings and increased gold purchases. Retail investors, by contrast, largely stayed on the sidelines. That 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 finally reversed. ETF shares are climbing again—a sign that individual investors are returning to the market. And when retail investors finally catch on to a boom, history shows what tends to happen next: - The trend accelerates
- Valuations rise quickly
- The boom eventually turns 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, which means we’re still in the earlier stages of a similar long-term trend. If history repeats, gold could roughly double from here—and silver may outperform gold. 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 phase now. Under his scenario, if gold reaches $8,000, silver could hit $200 an ounce—roughly four times current levels. That makes select mining stocks especially compelling today. 4 Mining Stocks That Could Lead the Metals Boom There’s more than one way to play a metals bull market—and these four names illustrate different approaches. They aren’t household names (yet), but Brett Eversole believes they have the most upside as gold and silver continue to climb. First Majestic Silver: A Pure Play on Silver’s Breakout If silver takes off in the later stages of this cycle, First Majestic Silver (NYSE: AG) could be a major beneficiary. Headquartered in Canada, the company operates exclusively 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 historical performance suggests First Majestic doesn’t just track silver prices—it can significantly outperform them during strong metal rallies. Hecla Mining: A Low-Cost Producer with Big Leverage Hecla Mining (NYSE: HL) offers exposure to both gold and silver, with production split roughly evenly between the two. What sets Hecla apart is its low cost base and solid asset quality. “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 potent profit engine when metal prices rise: Hecla captures more margin on each incremental dollar of price appreciation without the operational risk of exotic jurisdictions. Equinox Gold: From Builder to Cash Generator Equinox Gold (NYSEAMERICAN: EQX) has moved out of asset-accumulation mode and into profitability. After years of investing in growth, the company is now focused on turning production into cash flow just as gold prices accelerate. Production is projected to increase from about 800,000 to 1.2 million ounces by 2027, while costs are expected to fall from roughly $1,900 to $1,500 per ounce. It’s the type of operational pivot investors prize. Brett says, “This company is going to turn into a cash-gushing machine.” Projected free cash flow could jump from around $80 million to roughly $1 billion, transforming Equinox into a miner built for higher prices. Seabridge Gold: A High-Upside Bet on What’s Still Underground Seabridge Gold (NYSE: SA) doesn’t currently produce gold, but it may control 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 next 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 makes it highly leveraged to the price of gold: as prices rise, the economic value of its reserves increases dramatically. If a joint-venture partner signs on while gold is climbing, Seabridge 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 global upswing that’s lifting many asset classes: - Stock markets around the world are near 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 together, it typically signals broad strength rather than a fleeting 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 to exit. The “mania phase”—when everyone is talking about gold, ads flood the internet and retail investors pile in at the top—hasn’t arrived yet. We’re not there yet. And that may mean there’s still time to position for what comes next.
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