The best and worst ASX gold shares to own so far in 2021

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It hasn’t been the best year for ASX gold shares so far.

In fact, 23 out of the 32 shares listed on the All Ordinaries Index (ASX: XAO) that are primarily focused on gold exploration and production are in the red for 2021.

That leaves just 9 ASX gold shares returning a profit to shareholders this calendar year.

The best performing of the ASX gold shares in 2021

Hands down the best performing of the ASX gold shares so far this year is Chalice Mining Ltd (ASX: CHN).

The Chalice Mining share price is up 75% year-to-date. That’s more than double the second best performing gold miner, Auteco Minerals Ltd (ASX: AUT), up 21% this calendar year.

Unlike Auteco, which is down 33% over the past full year, Chalice Mining’s shares also top the 12-month leader board for ASX gold shares, having gained 571% since this time last year.

Chalice Mining’s share price has gone higher in part due to substantial success at its Julimar project in Western Australia.

Now, next year Chalice may no longer be eligible for this list. It’s not because I’m speculating on how its share price may move. But because the company is looking to demerge its gold assets and turn them into a new ASX-listed company.

For today, however, Chalice Mining is our number one performer in the segment.

On the other end of the scale…

At the bottom end of the ASX gold shares performance list is Ora Banda Mining Ltd (ASX: OBM).

The gold explorer and producer operates within Australia and owns an interest in the Davyhurst Project within the Eastern Goldfields of Western Australia.

Since the closing bell on 30 December 2020, the Ora Banda share price has fallen 56%. The company also holds the unfortunate position as the worst performer over the past 12 months, with shares down 65% since this time last year.

The Ora Banda share price came under renewed pressure on 8 June, after the company raised $21 million in capital via a share placement at a 17% discount to the going share price at the time. Shares fell more than 12% following the announcement.

How has gold moved this year?

Many factors determine the price of ASX gold shares.

High among these, as you’d expect, is the price of gold.

While gold prices climbed from early April through to early June, the yellow metal is still trading 5.1% below where it was on 1 January and 7.9% below 5 January levels.

At time of writing, one ounce of gold is worth US$1,797.36 per troy ounce.

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The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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