The stock jumped following the company's release of a Chartered Financial analyst's report in which analyst Michael Maggi set a "buy" rating for the company.
An industry that has been plagued by three consecutive down years has started to make gains again in 2014. The precious metal sector is up 14% while gold miners have gained almost 12%.
Maggi points to global instability as a reason for price inflation, but expects investors appetite for "safe-haven" investments to bode well for the sector.
"In the short term, geopolitical risks such as the recent events in the Ukraine, Syria, etc. would likely propel gold prices higher; while over the longer-term, the effects of easy monetary policies across the world will likely increase inflation pressures and therefore, investor demand for gold," Maggi said.