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After reaching an all-time high in summer 2020, gold has displayed a muted performance in Q1 2021. Prices peaked in early January and have trended lower in the months since.

Values bottomed out at the end of March in the US$1,730 per ounce range and have struggled to regain January’s momentum.

The majority of the three-month period saw the yellow metal battle a strengthening US dollar and 10 year Treasury yield gains. Investor risk appetite also impeded growth for the safe haven.

By the end of January, gold was well off its year-to-date high (US$1,950) and moving lower.

Even February inflationary tones from the Federal Reserve were unable to pull the currency metal back above US$1,800.

As Q1 2021 concluded gold shed 11.5 percent from its January high. Despite the decline, values are still well above where they sat between 2013 to 2019.

Gold’s poor showing during the first quarter of the year, wasn’t enough to damper the performance of several mining and exploration companies. Over the 90 period several firms made significant announcements and registered stock bumps.

Below the Investing News Network has rounded up the five best gold stocks on the TSX with the biggest share price gains year-to-date.

The list below was generated on April 12, 2021, using TradingView’s

stock screener

, and all companies listed had market caps above C$50 million at that time.

1. China Gold International Resources (TSX:

CGG

)

Year-to-date gains: 91.8 percent; current share price: C$3.67

Gold and

base metals

mining company, China Gold International Resources has two operational assets in China. The firm is currently working to optimize its CSH gold mine located in Inner Mongolia and the Jiama

copper

-polymetallic mine in Tibet.

The value of company shares began to rise in early February and peaked at C$4 on March 17.

At the end of Q1, the company released its full year 2020 results which featured a year-over-year revenue increase of US$103.5 million.

According to the

press release

, “mine operating earnings increased by 485 percent to US$90.1 million from US$15.4 million for the same period in 2019.”

China Gold also included some forward-looking forecasts, which include gold production of 235,000 ounces for 2021.

2. Loncor Resources (TSX:

LN

)

Year-to-date gains: 35.9 percent; current share price: C$0.80

Canada-listed gold explorer Loncor is currently developing projects in the Ngayu Greenstone Belt in Democratic Republic of Congo.

Q1 2021 was a busy time for the firm as several mineralizations were delineated and identified at the Imbo project in the eastern part of the belt. Loncor also finalized a

upsized private placement

for a total of C$5.7 million.

Moving forward the company plans to continue exploration and target drills at Imbo. Share prices peaked in late March for the quarter to trade for C$0.80.

3. Harte Gold (TSX:

HRT

)

Year-to-date gains: 26.9 percent; current share price: C$0.16

Harte Gold operates the Sugar Zone mine in White River, located in Northern Ontario. The project entered production in 2019.

In late March, the company

announced

a C$24.8 million strategic investment by New Gold (TSX:

NGD

). The funds will be earmarked for accelerated mine development.

Harte has also

released

its Q1 2021 overview, one of the highlights included record gold production of 11,776 ounces. A 9 percent quarter-over-quarter increase, for an average of 3,925 ounces per month.

4. Dynacor Gold (TSX:

DNG

)

Year-to-date gains: 24.9 percent; current share price: C$2.26

Unlike traditional gold miners, Dynacor is a dividend-paying industrial gold ore processor. Focused on Peru, the firm processes ore purchased from the artisanal and small-scale mining industry.

Dynacor also owns Tumipampa a gold exploration property located in Peru.

At the end of Q1, the processor announced commencement of a plant expansion program. The addition would allow the company to increase its nameplate capacity by 43 percent, from 300 tonnes per day, to 430 tonnes per day.

“This new expansion to our Veta Dorada plant in Chala, Peru, is a first step to meeting our strategic milestone of growing the company’s ore processing capacity and gold sales,”

said president and CEO, Jean Martineau

.

The increased ore processing should allow Dynacor to increase sales in the second half of the year.

5. Anaconda Mining (TSX:

ANX

)

Year-to-date gains: 23.2 percent; current share price: C$0.74

Canada focused gold company Anaconda is currently advancing the Goldboro project in Nova Scotia. The company had an eventful Q1 that included several drill campaigns across its portfolio.

One of the quarterly announcements saw Anaconda release an

updated

technical report for Goldboro.

The revision includes a 179 percent increase to the measured and indicated mineral resources. As well as an uptick of 16 percent for the inferred mineral resources.

Shares hit a quarterly high of C$0.84 in late March.

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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.