15 Best Gold Mining Stocks to Invest In

gold mining stocks

Established in 2012, it has since become one of South Africa’s largest gold producers and the largest PGM producer in the world. Sibanye also operate a PGM recycling facility and own a majority interest in DRDGOLD, a specialist in the recovery of gold and other precious metals from open pit tailings. Rounding out the additions to our coverage list, Kinross produced more than 1.9 million attributable gold equivalent ounces in 2022. Kinross has the highest unit costs of the gold miners that we cover. Its average AISC of roughly $1,300 per gold equivalent ounce in 2022 places Kinross at around the 55th percentile of the gold cost curve.

gold mining stocks

If an ETF’s industry classification changes, it will affect the fund flow calculations. Gold Miners ETFs invest in stocks of companies that are actively involved in mining and other aspects of gold production. J.P. Morgan analyst Dominic OKane maintained a Hold rating on Harmony Gold Mining (HMY – Research Report) yesterday https://investmentsanalysis.info/ and set a price target of $3.90. The company’s shares closed yesterday at $3.51.OKane covers the Basic Mat… Harmony Gold Mining Co. on Tuesday reported a significantly improved profit for the first half of the fiscal year, declared an interim dividend for the period, and raised full-year gold production guidance.

Fastest Growing Gold Stocks

We don’t operate the mines, limiting exposure to common operational risks. Our stringent due diligence process allows us to select some of the best mines in the world, providing stable cashflow and more exploration upside than any other gold royalty company. We selected the following gold mining stocks based on growth fundamentals, dividend profiles, positive analyst coverage, and strong hedge fund sentiment as of June 2022. We have arranged the list of the best gold mining stocks according to the number of hedge fund holders in each firm.

For example, during periods of global uncertainty, both assets may rise as investors flock to save-haven investments. Due to its finite supply, gold is seen as a hedge against inflation, while the dollar’s status as the global reserve currency makes it sought after during times of risk aversion. For example, during periods of global uncertainty, both assets may rise as investors flock to save haven investments. Due to its finite supply, gold is seen as a hedge against inflation, while the dollar’s status as the global reserve currency makes it sought after during times of risk aversion.

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In August 2022, WPM entered into an agreement with Glencore to terminate its silver stream on the Yauliyacu Mine in Peru for a net termination payment of around $136 million. As a result, Wheaton now anticipate average annual production for the five-year period ending December 31, 2026, to be approximately 800,000 GEOs, a reduction of 20,000 GEOs. Miners fell 0.1% as iron-ore prices extended losses on Friday, reflecting concerns regarding China demand. Sprott has partnered with their affiliated broker/dealer Sprott Global Resource Investments Ltd in offering Sprott ESG Gold ETF (SESG). For fact sheets, marketing materials, prospectuses, performance, expense information and other details about Sprott ESG Gold ETF, you will be directed to the Sprott website at Sprott.com/SESG. 3 “Other expenses” are based on estimated amounts for the current fiscal year and are calculated as a percentage of the Fund’s net assets.

gold mining stocks

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Best Value Gold Stocks

With gold prices on the rise, here’s Morningstar’s take on several gold mining stocks today. With the exception of Wheaton and Franco-Nevada, these top holdings are the world’s largest gold mining companies. Agnico vaulted up the list in 2022 by completing its merger with fellow gold miner Kirkland Lake Gold. It further expanded its scale in 2023 by acquiring Yamana Gold’s Canadian assets as part of Pan American Silver’s (PAA 0.44%) acquisition of that company.

  • Dividend yield was not a selection factor, yet all the stocks on the list but one pay a dividend.
  • Sibanye also operate a PGM recycling facility and own a majority interest in DRDGOLD, a specialist in the recovery of gold and other precious metals from open pit tailings.
  • A streamer doesn’t mine gold, instead it buys contracts to sell other producer’s gold output.
  • The company expects that this year and 2024 are likely to be the years when capex will be at its peak.

Shares of GOLD have not fared well in the past month, down by about 13% after the miner said fourth-quarter revenues declined by 16.3% year-over-year to $2.77 billion, missing analysts’ expectations by $20 million. However, the company’s Q4 adjusted earnings per share (EPS) came in at gold mining stocks 13 cents, beating Street estimates of 11 cents. Still, TD Securities analyst Greg Barnes upgraded the stock to Buy from Hold following its Q4 earnings report, with a price target of $55 on the stock. The analyst’s price target implies an upside potential of 24.4% at current levels.

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In light of these, let’s analyze our list of the 15 best gold mining stocks to invest in. We took into account hedge fund sentiment, analysts’ ratings, long-term growth potential and fundamentals while choosing these stocks. 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. While higher gold prices are a tailwind, concerns remain over rising interest rates, which increase the opportunity cost to hold gold, and cost inflation.

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The banking group saw the precious metal trading at $2,000 at the end of 2023, accelerating to $2,075 by September 2024. A poll of 38 analysts conducted by Reuters in January was less optimistic as they expected the gold price to average at $1,890 in 2024.

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