In this article, we explore the 10 Best Stocks to Buy Amid Gold Rally.
Gold prices have surged to record highs in 2025. According to the World Gold Council, the precious metal notched 26 new all-time highs (ATHs) in the first half of the year, following 40 ATHs in 2024. Gold also outperformed eight major asset classes, including US equities, global treasuries (excluding US), and broad commodities, posting a 26% year-to-date return in dollar terms as of June 30.
Behind the exhilarating rally are three key factors: a weakening US dollar, elevated geopolitical risks, and stable yields amid expectations of rate cuts. These factors have fueled stronger demand for physical gold. Average daily gold trading volumes reached $329 billion in H1 2025, the highest on record, according to the World Gold Council.
Wall Street sees the trend going only up. Goldman Sachs forecasts that gold could reach $3,700 per troy ounce by year-end, citing sustained central bank purchases as a primary driver. In a recent note, the firm added that ETF investors are likely to boost holdings as interest rate cuts approach and recession fears build. “In the event of a recession, we forecast that gold could rise to as much as $3,880 a troy ounce,” the research note said.
Against this backdrop, gold-related equities, particularly those in mining, streaming, and exploration, offer a compelling upside. This article highlights 10 stocks that stand to benefit from the rally.
A close-up of the company’s gold bars and certificates of authenticity, lit up by a spotlight.
Our Methodology
We used the Finviz stock screener to identify companies in the gold industry, filtering for those with a year-to-date returns of at least 20%. From this initial pool, we shortlisted stocks that also showed notable hedge fund interest, based on Q1 2025 holdings data from Insider Monkey’s database. The final list is ranked in ascending order by year-to-date returns (as of July 29).
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Best Stocks to Buy Amid Gold Rally
10. Centerra Gold Inc. (NYSE:CGAU)
Year-To-Date Returns: 24.96%
Number of Hedge Fund Holders: 17
Centerra Gold Inc. (NYSE:CGAU) is one of the best stocks to buy amid gold rally. On July 28, Midland Exploration Inc., a mining company based in Quebec, announced it had raised $6.1 million by selling shares privately. Centerra Gold bought all the shares, becoming a key partner in the company. As a result, Centerra now owns about 9.9% of Midland’s total common shares.
The placement consisted of $5.06 million from the sale of 10,650,000 flow-through shares, priced at $0.475 each, and $1.05 million from 3,181,819 common shares, priced at $0.33 per share. According to Midland, the funds raised will be applied to Canadian exploration expenses aimed at advancing its wholly owned gold projects in the Québec region.
Centerra Gold Inc. (NYSE:CGAU) is a Canadian mining company. It acquires, explores, develops, and operates gold and copper properties, primarily through its Mount Milligan gold-copper mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. Its main products are gold bullion and copper concentrate, extracted from open-pit mining operations.
9. Franco-Nevada Corporation (NYSE:FNV)
Year-To-Date Returns: 38.06%
Number of Hedge Fund Holders: 36
Franco-Nevada Corporation (NYSE:FNV) is one of the best stocks to buy amid gold rally. On July 23, Franco-Nevada Corporation, through its wholly-owned subsidiary, acquired a 1.0% net smelter return (NSR) royalty on AngloGold Ashanti’s Arthur Gold Project, formerly the Expanded Silicon Project. The royalty was purchased from Altius Minerals Corporation for $250 million in cash, with an additional $25 million payable pending arbitration outcomes.
Franco-Nevada’s new royalty covers a major part of the Merlin and Silicon gold deposits in Nevada and comes with no reductions or buyout options. The Arthur Gold Project has grown significantly, with gold resources rising 20% in a year—now totaling 3.4 million ounces of indicated and 12.9 million ounces of inferred resources. As of the end of 2024, 430 kilometers of drilling had been completed, including 132 kilometers just that year.
AngloGold, a top-tier mining company, plans to finish an early study by late 2025 or early 2026 for a large gold operation. Franco-Nevada paid using cash on hand and borrowed $175 million from its $1 billion credit line. The deal qualifies for tax benefits. If a legal decision supports Altius’ wider royalty claims, Franco-Nevada will pay an extra $25 million. Altius still holds a smaller 0.5% royalty and Franco-Nevada has the right to buy it first if it’s sold.
Franco-Nevada Corporation (NYSE:FNV) is a gold-focused royalty and streaming company. It manages a diversified portfolio of cash-flow producing assets across precious metals, energy, and other commodities. The company’s core business involves acquiring royalties and metal streams from mining operations, providing investors with exposure to gold prices and exploration upside while avoiding direct operational risks.
8. OR Royalties Inc. (NYSE:OR)
Year-To-Date Returns: 53.87%
Number of Hedge Fund Holders: 24
OR Royalties Inc. (NYSE:OR) is one of the best stocks to buy amid gold rally. On July 21, Raymond James raised its price target for OR Royalties (formerly Osisko Gold Royalties) stock to $29.00 from $27.50. The investment bank maintained an “Outperform” (buy) rating on the stock.
Analyst Brian MacArthur cited several factors influencing the decision to raise the target price, including OR Royalties’ high-margin business model, a diversified portfolio of development and exploration companies with low jurisdictional risk, the company’s flexible balance sheet, growth potential supported by recent strategic initiatives and capital allocation, and significant development around Osisko Development Corp. (ODV), in which OR Royalties owns approximately 24% equity and holds a 5% net smelter return royalty on the Cariboo Gold Project.
Raymond James noted that while the Cariboo Gold Project is not included in OR Royalties’ five-year growth outlook to 2029 (forecasting 40% growth in gold equivalent ounces), it could become a meaningful contributor to the company’s production in the future.
OR Royalties Inc. (NYSE:OR) is a Canadian-based precious metals royalty and streaming company. It holds a portfolio of over 195 royalties, streams, and offtake agreements, including 21 producing assets primarily focused on gold. The company’s cornerstone asset is a 3–5% net smelter return royalty on the Canadian Malartic mine, one of Canada’s largest gold operations.
7. NovaGold Resources Inc. (NYSE:NG)
Year-To-Date Returns: 57.66%
Number of Hedge Fund Holders: 14
NovaGold Resources Inc. (NYSE:NG) is one of the best stocks to buy amid gold rally. On July 21, the company announced the appointment of Ali Erfan to its Board of Directors, following the departure of long-serving director Diane Garrett.
“I am very pleased to welcome Ali Erfan to NOVAGOLD’s Board,” said Dr. Thomas S. Kaplan, NOVAGOLD’s Chairman. “Mr. Erfan brings a wealth of knowledge and experience as a long-standing Vice-Chairman of The Electrum Group, investment adviser to Electrum Strategic Resources, which is the Company’s largest shareholder and a global leader in precious metals mining, with multi-billion-dollar investments and operations in North America. I also wish to extend my deepest appreciation to Diane Garrett for her valued guidance and significant contributions to the Company over her seven years of committed service.”
Erfan’s resume spans capital markets and energy sectors. He co-founded Leor Energy, sold to Encana for $2.6B, and held board roles at Gatos Silver, Gabriel Resources, and two privately held silver ventures. His previous roles include senior partner at 3i Group and investor in multiple tech firms with global IPO or M&A success. Erfan holds degrees from Oxford and London Business School, and is a Kauffman Fellow.
NovaGold Resources Inc. (NYSE:NG) is a gold exploration and development company. It owns a 50% interest in the Donlin Gold project in Alaska, USA, which is considered one of the world’s largest undeveloped gold deposits. Donlin Gold is designed to be a high-grade, open-pit operation with significant long-term production potential.
6. Sandstorm Gold Ltd. (NYSE:SAND)
Year-To-Date Returns: 68.82%
Number of Hedge Fund Holders: 27
Sandstorm Gold Ltd. (NYSE:SAND) is one of the best stocks to buy amid gold rally. On July 8, H.C. Wainwright reaffirmed its “Buy” rating on Sandstorm Gold stock and kept the $11.75 price target. Analyst Heiko F. Ihle stated that the decision is influenced by Sandstorm Gold’s acquisition agreement with Royal Gold (NASDAQ:RGLD).
The acquisition agreement, valued at approximately $3.5 billion, involves Royal Gold acquiring all outstanding common shares of Sandstorm Gold. Under the deal terms, Sandstorm shareholders will receive 0.0625 shares of Royal Gold common stock for each Sandstorm share held.
Upon deal completion, Royal Gold shareholders are expected to own about 77% and Sandstorm shareholders about 23% of the fully diluted Royal Gold shares. The analyst stated that the addition of Sandstorm’s assets is expected to be “meaningfully accretive to NAV and medium-term/long-term cash flow.”
Sandstorm Gold Ltd. (NYSE:SAND) is a gold-focused royalty and streaming company. It acquires royalties and metal purchase agreements from mining operations. The company holds a diversified portfolio of over 190 assets, including a gold stream on the Greenstone mine in Ontario and an option on the MARA copper-gold project in Argentina.
5. SSR Mining Inc. (NASDAQ:SSRM)
Year-To-Date Returns: 76.29%
Number of Hedge Fund Holders: 24
SSR Mining Inc. (NASDAQ:SSRM) is one of the best stocks to buy amid gold rally. On July 18, BMO Capital Markets resumed coverage on SSR Mining with a “Market Perform” rating and set a price target of $13.50. The firm cited SSR Mining’s strong financial position, including a current ratio of 3.95 and operating with moderate debt levels.
SSR Mining’s cash flow is robust, supported by its gold-producing assets: the Marigold mine in Nevada and the recently acquired CC&V mine in Colorado. This positions the company as the third-largest gold producer in the United States, according to BMO.
Despite these strengths, BMO expects SSR Mining shares to remain discounted relative to peers mainly due to concerns stemming from the leach pad slip and the resulting suspension at the company’s Çöpler mine in Türkiye. The firm noted that a potential restart at Çöpler could improve SSR Mining’s valuation but expressed that the market will likely remain cautious until there is more clarity on this issue.
SSR Mining Inc. (NASDAQ:SSRM) is a precious metals mining company focused on gold production. It operates mines and development projects in the United States, Türkiye, Canada, and Argentina. Key assets include the Marigold mine in Nevada, the Seabee gold operation in Saskatchewan, and the Puna silver mine in Argentina. SSR Mining also holds a 50% interest in the Çöpler gold mine in Türkiye.
4. Gold Fields Limited (NYSE:GFI)
Year-To-Date Returns: 91.82%
Number of Hedge Fund Holders: 30
Gold Fields Limited (NYSE:GFI) is one of the best stocks to buy amid gold rally. On July 28, Canaccord Genuity issued a “Buy” rating as it initiated coverage on Gold Fields; it set the target price at $33. The investment bank cited strong near-term growth prospects for the South Africa-headquartered company.
Gold Fields, a top-10 global gold producer operating 10 mines worldwide, is poised for near-term growth driven by expansions at Salares Norte and Gruyere through 2026, alongside ongoing development at Windfall and key assets like St Ives, South Deep, and Tarkwa through 2028. Canaccord Genuity projects notable deleveraging by 2027, which could bolster the company’s capacity for M&A and support a re-rating of its shares through rising production, profits, and shareholder returns.
Gold Fields Limited (NYSE:GFI) is a globally diversified gold mining company. It explores for, develops, and produces gold, with additional activities in copper and silver extraction. The company operates nine mines across South Africa, Australia, Ghana, Chile, and Peru, and owns the Windfall Project in Québec, Canada. Its primary product is gold bullion, refined from both underground and surface mining operations.
3. Aura Minerals Inc. (NASDAQ:AUGO)
Year-To-Date Returns: 102.77%
Number of Hedge Fund Holders: N/A
Aura Minerals Inc. (NASDAQ:AUGO) is one of the best stocks to buy amid gold rally. On July 21, the company announced that S&P Global Ratings had revised its outlook for Aura to “positive” from “stable” and affirmed its B+ global scale credit rating. S&P Global Ratings also affirmed the national scale rating in Brazil at “brAA”.
According to the statement, S&P Global Ratings’ action was supported by Aura’s US listing in July 2025. During the IPO, which involved 8.1 million shares (about 10% of capital), the company raised around $196 million. According to the company, these funds will enable it to accelerate growth without increasing leverage. Part of the proceeds will be directed toward the $76 million acquisition of the Serra Grande mine in Brazil. Another section will go to the development of new projects, including Matupá (Brazil) and Era Dorada (Guatemala).
S&P expects Aura’s annual gold production to exceed 400,000oz in 2026 and approach 500,000oz in 2027. This will be made possible by the ramp-up of the low-cost Borborema mine in Q3 2025, along with the integration of Serra Grande, pending regulatory approvals.
Aura Minerals Inc. (NASDAQ:AUGO) is a gold and copper production company. It explores for, develops, and operates mining projects across the Americas, with key assets including the Minosa gold mine in Honduras, the Almas, Apoena, and Borborema gold mines in Brazil, and the Aranzazu copper-gold-silver mine in Mexico. The company also holds development-stage gold projects in Guatemala and Colombia. Aura’s primary products are gold bullion and copper concentrate.
2. Aris Mining Corporation (NYSE:ARMN)
Year-To-Date Returns: 105.43%
Number of Hedge Fund Holders: N/A
Aris Mining Corporation (NYSE:ARMN) is one of the best stocks to buy amid gold rally. On July 8, BMO Capital raised its price target for Aris Mining Corp to C$13.00 from C$12.50, reiterating its Outperform rating.
The Canadian gold producer reported second-quarter 2025 output of 58,700 ounces, closely matching both BMO’s estimate of 57,700 ounces and the consensus forecast of 57,800. With first-half production reaching roughly 45% of the midpoint of Aris’s full-year guidance (230,000–275,000 ounces), BMO sees the company on track to hit its annual targets.
Further demonstrating its strategic momentum, Aris reaffirmed the expected third-quarter release of the Soto Norte study and Toroparu Preliminary Economic Assessment, highlighting consistent development progress. Additionally, the company announced the sale of its non-core Juby asset, signaling a sharpened focus on core operations and growth-oriented projects.
Aris Mining Corporation (NYSE:ARMN) is a gold mining company. It explores for, develops, and produces gold through its Segovia and Marmato operations in Colombia. The company also owns the Marmato Lower Mine project, and its primary product is gold bullion, extracted from high-grade underground mining operations.
1. AngloGold Ashanti PLC (NYSE:AU)
Year-To-Date Returns: 116.72%
Number of Hedge Fund Holders: 28
AngloGold Ashanti PLC (NYSE:AU) is one of the best stocks to buy amid gold rally. On July 15, J.P. Morgan shifted its top pick among gold miners in the Europe, Middle East, and Africa (EMEA) region from Fresnillo PLC to AngloGold Ashanti. The firm cited cost pressures and operational factors despite a strong gold price outlook.
The bank has placed AngloGold Ashanti on “Positive Catalyst Watch” ahead of its half-year 2025 results, due on August 1. It highlighted the company’s forecasted Q2 gold production of 734,000 ounces, up 2% from Q1, and an all-in sustaining cost (AISC) of $1,743/oz, which is 5% above the top end of prior guidance. Free cash flow is projected at $575 million, with a potential dividend of $1.15 per share based on a 50% payout policy. J.P. Morgan raised AngloGold’s December 2026 price targets to $63 per share (for NYSE-listed shares) from $58 and to ZAR 1,140 from ZAR 1,096 (Johannesburg listing).
In contrast, Fresnillo faces headwinds primarily from the strengthening of the Mexican peso by about 11% year-to-date. This movement, the bank stated, puts pressure on the company’s costs, as around 40% of its expenses are peso-denominated. This has led to concerns that Fresnillo may need to raise its cost guidance, potentially reducing investment upside.
AngloGold Ashanti PLC (NYSE:AU) is a global gold mining company. It explores for, develops, and produces gold across operations in Africa, the Americas, and Australia. The company’s key assets include the Geita mine in Tanzania, the Obuasi and Iduapriem mines in Ghana, and the Tropicana and Sunrise Dam mines in Western Australia. AngloGold Ashanti also owns the Arthur Gold Project in Nevada, USA, which is one of the largest undeveloped gold discoveries in the country. Its primary product is gold bullion, refined from both open-pit and underground mining operations.
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