10 Best Gold Royalty and Small-Cap Gold Stocks To Buy

best gold mining stocks

Gold Fields Limited is one of the world’s largest unhedged gold producers with operating mines in South Africa, Ghana, and Australia. From stock in individual mining companies to shares of a bullion-backed ETF, there are plenty of ways to benefit from gold’s impressive, 2,500-year run. You can invest directly in gold by buying gold bullion or shares in a gold fund, or indirectly by investing in the gold industry (mining, processing, etc.). Finally, if you’re looking for a gold stock with higher upside potential than raw bullion or an ETF in the short term, Canadian mining outfit Kinross Gold may fit the bill.

  • The shares trade on the Toronto Stock Exchange, and they also trade in the over-the-counter market (OTC) in the U.S. under symbol TORXF.
  • SilverCrest Metals Inc. focuses on the acquisition, exploration, advancement and development of base mineral and precious metals properties primarily in Mexico.
  • First Majestic Silver Corp. is engaged in the production, development, exploration, and acquisition of silver mines in Mexico.
  • Franco-Nevada and Wheaton are the leading gold streaming and royalty companies.
  • A stronger dollar has weighed on gold futures, but analysts see plenty of potential for these top-rated gold stocks.

Equinox Gold has around seven operating gold mines and a clear plan to increase production by advancing a pipeline of growth projects. There are several reasons why OR is on this list of the best gold stocks to buy, including its strong fourth-quarter results. Osisko reported Q4 revenues from royalties and streams of C$61.9 million versus C$50.7 million in the same period last year – year-over-year growth of 22.2%. Moreover, the company earned around 25,023 attributable GEOs in Q4, for a total of approximately 89,367 GEOs in 2022. This marked a 12% year-over-year increase, and a record when it comes to its quarterly and annual deliveries.

Gold vs Gold Stocks

Vale has entered into an agreement with Vulcan to sell the Moatize coal mine & the Nacala Logistics Corridor. They’re a good alternative for investors who want a little more diversity in their portfolio and prefer investments that are easier to buy and sell. Franco-Nevada Corp. is another sizeable company, with over 400 sites in North America. Rather than directly mining the precious metal, it’s a royalty and streaming company, which means it buys contracts to sell gold produced by mining companies. FNV is considered a “high-growth” stock, with earnings that have increased every year since 2018 and sales that have increased each year for over a decade, making it a smart play for long-term investors.

Sibanye Stillwater Limited, formerly known as Sibanye Gold Limited, is based in Westonaria, South Africa. Barrick is the world’s second-largest gold miner, producing nearly 4.1 million attributable ounces of gold and about 440 million pounds of copper in 2022. Barrick’s AISC of around $1,200 per ounce in 2022 places the company toward the upper end of the second quartile of the gold AISC curve, which is also not low enough to justify a moat. Its share of the NGM joint venture, Pueblo Viejo, and Loulo-Gounkoto account for around two thirds of Barrick’s midcycle production in 2027. We think the shares of Newmont and Barrick are undervalued, trading at discounts to fair value of 10% and 8%, respectively, while Agnico Eagle trades at an 8% premium and Kinross appears fairly valued. Spot gold prices have risen recently to around $2,000 per ounce on fears regarding the stability of the financial system as well as a potential recession.

NEWCREST MINING LIMITED is Australia’s largest gold producer and one of the world’s top ten gold mining companies by production, reserves and market capitalisation. Newcrest has a portfolio of low cost, long life operating mines, a strong pipeline of growth projects and highly prospective brown and greenfield exploration projects. The company has a substantial reserve and resource base combined with a long reserve life. Low gearing and a strong balance sheet places the company in a good position to fund major development projects and to capitalise on external growth opportunities. In addition, Newcrest is currently exploring for gold and gold-copper deposits in Australia, Indonesia, Fiji, the United States, Peru and Chile.

WPM is the first of the Strong Buy-rated gold stocks featured here, thanks to eight Buys and just one Hold ratings among analysts who have released notes on the stock over the past three months. Check out other analysts’ price targets and analysis for WPM at TipRanks. A stronger dollar has weighed on gold futures, but analysts see plenty of potential for these top-rated gold stocks. The list below was compiled by the team at Refinitiv, a leading financial markets data provider. Read on to find out which companies produced the most gold last year. It’s the second-largest producer of copper and a major producer of silver, zinc, and other minerals.

Gold Mining Stocks To Watch In April 2023

Hecla Mining Company is a leading low-cost U.S. silver producer with operating mines in Alaska and Idaho, and is a growing gold producer with an operating mine in Quebec, Canada. Newmont is the world’s largest gold miner, producing around 6 million attributable ounces of gold in 2022 and accounting for about 5% of total 2022 mined production. Newmont’s all-in sustaining cost of around $1,200 per ounce in 2022 places the company toward the upper end of the second quartile of the gold AISC curve—not low enough to justify a moat, in our view. We forecast Newmont will increase attributable gold production to around 6.4 million ounces in 2027. This is partially offset by falling production at its Yanacocha mine, which will reach the end of its life toward the end of our five-year forecast period. Newmont’s 38.5% share in NGM and the Ahafo and Boddington mines account for roughly 45% of midcycle production in 2027.

There is no one answer to this question, as the timing for investing in gold and gold mining companies depends on a variety of factors, including market conditions, investor risk tolerance, and individual investment goals. Some people believe that gold can be a good investment in times of economic uncertainty, as the metal is considered a safe haven asset that can potentially hold its value during market downturns. Others invest in gold as a way to diversify their portfolio, as the gold price can often move independently of other asset classes. Of all the mining companies in the world including explorers, developers and producers, the hub of all major mining transactions are occur in Canada in the cities of Toronto and Vancouver primarily.

Osisko Gold Royalties

You can still buy bullion aka physical gold the old fashioned way through ATMs and dealers — but you’ll pay high fees to buy it, high fees to sell it back, and will need a safety deposit box to store it. If you’re a Chase customer, “SDI” slides right into your existing dashboard making it extremely easy and convenient to make trades while you’re in “personal banking” mode. Its Portfolio Builder can also assess your risk tolerance and help you build a gold-focused portfolio that won’t give you anxiety. Finally and more fundamentally, it’s worth considering whether you want to invest in a gold stock or an ETF (or both).

best gold mining stocks

Newmont (NEM, $44.22), founded in 1921, is a large producer of gold, copper, silver, zinc and lead. The company’s mines span North and South America, Australia and Africa. The company has been in the news recently following a $16.9 billion bid for Australian-based mining company Newcrest.

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According to Newcrest, it has one of the largest group gold ore reserves in the world. With an estimated 52 million ounces of gold ore reserves, its reserve life is approximately 27 years. The number one gold-producing company on this list, Newmont, made a US$19.5 billion bid for Newcrest in April 2023. The Australian company operates a total of five mines across Australia, Papua New Guinea and Canada. Its Lihir gold mine in Papua New Guinea is the world’s seventh largest gold mine by production.

Investors buy gold to hedge against risks such as rising inflation, geopolitical events, and financial crises. Forbes Advisor has provided this list of what we believe to be the seven best gold stocks to own right now. However, each individual investor needs to examine their own investing approach and risk tolerance before deciding which is the best gold stock for them. Both physical gold and gold stocks have their own advantages and disadvantages. It’s usually recommended to consult a financial advisor before making any financial decision. With a 3.9% dividend, it is the highest on the list, but as with many gold stocks, the payment amount varies from year to year.

This in turn raises demand, which raises the value of gold bullion and creates a nice ROI that (ideally) beats inflation. If you’re investing in gold, it’s probably as a long-term hedge against inflation — not as a risky, short-term play. Royal Gold stock prices haven’t had a great track record in recent years, but revenue https://g-markets.net/helpful-articles/hammer-and-inverted-hammer-candlestick-patterns/ is up during that time, indicating growth potential. Gold company stock prices will vary based on more than just today’s market value. Gold penny stocks are shares in low-value companies involved in the gold industry. Harmony Gold Mining Company has high liquidity and trades more than 4.1 million shares per day.

Investment and jewelry take up most of global gold demand, and a demand slowdown is the key risk to cash flows. A reduction in Chinese fixed-asset investment, lowering demand for copper, would also have some impact. Therefore, you might want to focus on gold stocks and ETFs with a large market cap, i.e. major, well-established players and funds in the gold space. Canada-based mining giant Barrick Gold has become an investor darling in recent years due to its knack for smashing revenue targets while simultaneously lowering its operating costs. Traders are especially bullish on the stock because the company is more than a decade away from exhausting its current mines and they recently stocked up on cyanide and explosives. The company expects to increase gold production in 2023 compared to 2022.

Another massive opportunity for the company comes from its copper mining division, which contributes 18% to total revenues. That number could grow substantially over the next several years due to multiple long-term projects in development. If you’re serious about purchasing gold stocks, discuss your ideas and strategy with a financial advisor. Whether you choose to buy physical gold or gold stocks depends upon your own goals and requirements.

The company also suffered from rising all-in sustaining costs (AISC), up 15.1% year-over-year to $1,215 per ounce. As with any stock (or other investment), you should do your own research and consult a financial advisor for guidance customized to your unique financial situation and goals. As per its latest report, FNV boasted $2.2 billion in available capital, zero debt, and $1 billion in operational cash flows. Moreover, its levered free cash flows are over 50%, mind-boggling considering the volatility in the business environment. With its disciplined capital management and low-risk business model, FNV stock should stay strong for the foreseeable future.

best gold mining stocks

Franco-Nevada’s business model is focused on managing and growing its portfolio of royalties and streams. Gold Resource Corporation is a mining company focused on production and pursuing development of select, high-grade gold and silver projects that feature low operation costs and produce high returns on capital. The Company has 100% interest in four potential high-grade gold and silver properties in Mexico’s southern state of Oaxaca. The Company has an interest in four properties, the El Aguila property, the Las Margaritas property, the El Rey property and the Solaga property.

As you might recall, expense ratios are like ETF “subscription fees” paid annually based on how much you have invested in the fund. Whatever your reasoning, there are many ways to invest in gold that don’t necessarily involve buying fun-sized ingots from a vending machine. Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.

The company primarily explores for gold, silver, and mineral properties. It principally serves electronics, coin fabrication, dentistry, jewelry, other industrial, technology, pharmaceuticals and solar energy markets. SSR Mining Inc, formerly known as Silver Standard Resources Inc, is based in Vancouver, Canada.

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