10 Gold Stocks Under $5

Published April 22, 2022 at 9:30 am EDT Updated September 7, 2026 at 2:08 pm EDT

In this article, we discuss the 10 gold stocks under $5.

Gold stocks have been on an upward trajectory in the past few months as inflation climbs and the market becomes more volatile, pushing investors to seek safe haven in commodities like gold. However, the prices of the precious metal recently suffered their biggest drop in close to a month on April 19 as the the benchmark 10-year Treasury yield hit 2.942%, the highest since late 2018, and the US Dollar Index also rose to the highest it has been since March 2020 amid talks of another aggressive interest rate hike from the central bank.

James Bullard, the the chief of the Federal Reserve Bank of Saint Louis, forecast that a 75 basis point rise in rates was not entirely impossible, pointing out that the Federal Reserve had increased rates at more than this in the past. Charles Evans, the President of the Chicago Fed, has also claimed that the central bank needed to raise rates at above neutral rates. This would imply a range of 2.25% to 2.50%. Fed Chair Jerome Powell will likely announce a future course of action in this regard soon.

The drop in gold prices is surprising and caps a period of a series of daily gains. On April 12, the VanEck Gold Miners ETF (NYSE:GDX) had climbed nearly 3% to a 52-week high as gold prices increased for a fourth consecutive day to their highest in almost a month. Adam Koos of Libertas Wealth Management has said that gold benefits from the “tailwinds provided by spicy inflation numbers” but cautioned that the increase in prices had reached a “prelude to a peak”. Gold prices are up more than 6.8% year-to-date.

In this overall market environment, investors can pick up the shares of prominent gold stocks like Newmont Corporation (NYSE:NEM), Barrick Gold Corporation (NYSE:GOLD), and Wheaton Precious Metals Corp. (NYSE:WPM) to profit from the boom. However, for those who cannot afford to go for these expensive offerings, there are several gold stocks that are trading in the penny stock range that provide the same bang for the buck. These are discussed in detail below along with their growth catalysts.

Our Methodology

The companies that operate in the gold sector and are priced under $5 per share, as of April 22, were selected for the list. The business fundamentals and analyst ratings for these firms are also discussed to provide readers with some additional context for their investment choices. An extensive database of around 900 elite hedge funds tracked by Insider Monkey was used to quantify the hedge fund sentiment around each stock.

Gold Stocks Under $5

10. GoldMining Inc. (NYSE:GLDG)

Number of Hedge Fund Holders: N/A

Real-Time Share Price as of April 22: $1.54

GoldMining Inc. (NYSE:GLDG) is a Canada-based mineral exploration company. The company has nearly 16 million ounces of gold equivalent at different properties. It has also recently launched a $50 million ATM equity program to fund exploration efforts. GoldMining also holds a significant stake in royalties firm Gold Royalty Corporation. The firm owns around 15 projects in the United States, out of which 11 have resource estimates. Most of these projects are small. Only two have over 1 million ounces of gold equivalent.

GoldMining Inc. is also ramping up investment in exploration. In a nine-month period ending August 2021, the company had invested close to C$1.4 million into gold exploration. The progress on these projects remains mixed at best.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in GoldMining Inc. with 305,828 shares worth more than $368,000.

Just like Newmont Corporation, Barrick Gold Corporation, and Wheaton Precious Metals Corp., GoldMining Inc. is one of the stocks that gold investors have on their radar.

9. Fury Gold Mines Limited (NYSE:FURY)

Number of Hedge Fund Holders: 2

Real-Time Share Price as of April 22: $0.72

Fury Gold Mines Limited (NYSE:FURY) is an exploration and development firm. On April 12, the firm announced that it had entered into an agreement with investors in Canada and the US for a private placement of nearly 13 million shares at a price of $0.80 per share, hoping to raise nearly C$11 million from the process. The funds will be used for exploration efforts that the firm currently has underway, specially at the Eau Claire project in Quebec. The spare capital will be used for general corporate purposes.

Fury Gold Mines Limited has a market capitalization of around $103 million and a volume of 553,718. The short interest on the stock is almost 0.28%. The shares have climbed in value by nearly 10% in the past five months.

At the end of the fourth quarter of 2021, 2 hedge funds in the database of Insider Monkey held stakes worth $191,000 in Fury Gold Mines Limited, compared to 4 in the previous quarter worth $498,000.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Fury Gold Mines Limited with 284,709 shares worth more than $182,000.

8. Avino Silver & Gold Mines Ltd. (NYSE:ASM)

Number of Hedge Fund Holders: 3

Real-Time Share Price as of April 22: $0.83

Avino Silver & Gold Mines Ltd. engages in the purchase and exploration of mineral properties. The company posted earnings for the fourth quarter of 2021 on March 14, reporting a revenue of $9.3 million, up more than 560% compared to the revenue over the same period last year. The earnings for the firm, before interest and taxes, stood at nearly $4.8 million. Operating cash flows were $0.04 per share. Mine sequencing has led to a small drop in overall production output for the firm in the first quarter of 2022.

On April 14, Alliance Global Partners analyst Jake Sekelsky maintained a Buy rating on Avino Silver & Gold Mines Ltd. stock and raised the price target to $1.70 from $1.40, noting that the firm continued to deliver steady state production.

At the end of the fourth quarter of 2021, 3 hedge funds in the database of Insider Monkey held stakes worth $305,000 in Avino Silver & Gold Mines Ltd., up from 2 in the preceding quarter worth $249,000.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Avino Silver & Gold Mines Ltd. with 200,394 shares worth more than $173,000.

7. Comstock Mining Inc. (NYSE:LODE)

Number of Hedge Fund Holders: 5

Real-Time Share Price as of April 22: $1.36

Comstock Mining Inc. (NYSE:LODE) is a Nevada-based gold mining firm. Speaking after the firm released earnings for the 2021 fiscal year in March, Corrado De Gasperis, the CEO of the company, said that the operating results reflected the investments in technology and people that Comstcok had made in the past few months. He added that they were also indicative of an increased focus on research and development. The CEO noted that the investments were already “yielding breakthrough advancements in technology”.

Comstock Mining Inc. has stepped up investments in the lithium sector as part of a larger push to diversify the portfolio beyond gold. In early January, the company acquired a 90% stake in lithium firm LiNico.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Comstock Mining Inc. with 1.2 million shares worth more than $1.6 million.

At the end of the fourth quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $2 million in Comstock Mining Inc., compared to 2 in the previous quarter worth $356,000.

6. Platinum Group Metals Ltd. (NYSE:PLG)

Number of Hedge Fund Holders: 5

Real-Time Share Price as of April 22: $1.88

Platinum Group Metals Ltd. (NYSE:PLG) explores and develops platinum and palladium properties. In addition, it also has interests in the exploration and development of gold, copper, nickel, and rhodium deposits. One of the premier projects of the firm is the Waterberg project located on the Northern Limb of the Western Bushveld complex in South Africa. The company is based in Canada and was founded in 2000. It has a market cap of over $205 million and a volume of over 1.6 million.

In late January, Platinum Group Metals Ltd. announced that it had entered into an agreement with the beneficial owners of $20 million of its 6 7/8% convertible senior subordinated notes. Under the deal, the firm will purchase and cancel the notes.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Platinum Group Metals Ltd. with 586,287 shares worth more than $925,000.

At the end of the fourth quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $3 million in Platinum Group Metals Ltd., the same as in the preceding quarter worth $4 million.

Alongside Newmont Corporation, Barrick Gold Corporation, and Wheaton Precious Metals Corp., Platinum Group Metals Ltd. is one of the stocks that hedge funds are monitoring as market volatility soars.

5. Gold Standard Ventures Corp (NYSE:GSV)

Number of Hedge Fund Holders: 5

Real-Time Share Price as of April 22: $0.45

Gold Standard Ventures Corp (NYSE:GSV) develops gold-bearing mineral properties. One of the leading properties of the company is the Railroad-Pinion project covering an area of almost 53,570 acres that is located in the Elko County of Nevada. The firm is based in Canada and was founded in 2004. It has a market cap of over $172 million and a volume of 430,628. The short interest on the stock is 1.16%. In mid-March, the company released a new feasibility study for the South Railroad project in Nevada.

On April 20, investment advisory National Bank kept an Outperform rating on Gold Standard Ventures Corp stock with a price target of $1.30. Analyst Jonathan Egilo issued the ratings update.

At the end of the fourth quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $23 million in Gold Standard Ventures Corp, up from 4 the preceding quarter worth $21 million.

Among the hedge funds being tracked by Insider Monkey, Idaho-based investment firm Sun Valley Gold is a leading shareholder in Gold Standard Ventures Corp with 48 million shares worth more than $21 million.

4. Galiano Gold Inc. (NYSE:GAU)

Number of Hedge Fund Holders: 6

Real-Time Share Price as of April 22: $0.51

Galiano Gold Inc. (NYSE:GAU) engages in the development and production of gold properties. On March 29, the company posted earnings for the fourth quarter of 2021, reporting a revenue of $91 million, down nearly 18% year-on-year. In late January, the company had announced that it had generated nearly $381 million from the sale of 216,076 ounces of gold sold at an average price of $1,767/ounce in the fourth quarter of 2021. The annual gold production stood at 210,241 ounces, slightly below 2021 guidance.

In early January, investment advisory Scotiabank maintained a Sector Perform rating on Galiano Gold Inc. stock with a price target of C$1.75. The ratings update was issued by analyst Ovais Habib.

At the end of the fourth quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $19.30 million in Galiano Gold Inc., the same as in the preceding quarter worth $19.38 million.

Among the hedge funds being tracked by Insider Monkey, Idaho-based investment firm Sun Valley Gold is a leading shareholder in Galiano Gold Inc. with 23 million shares worth more than $17 million.

3. Gold Royalty Corp. (NYSE:GROY)

Number of Hedge Fund Holders: 6

Real-Time Share Price as of April 22: $4.17

Gold Royalty Corp. (NYSE:GROY) is a precious-metals focused royalty firm. On February 22, the company announced that it had agreed to purchase a 0.75% net smelter return on the Côté Gold Project in Ontario in a deal worth close to $16 million. The project has an estimated average annual production of 489,000 gold oz and an 18-year mine life. The project is already halfway to completion. David Garofalo, the CEO of the firm, claims the firm now owns royalties to two of the largest and longest-life gold mines in Canada.

On February 10, BMO Capital analyst Rene Cartier initiated coverage of Gold Royalty Corp. stock with a Market Perform rating and a price target of $5.50, backing the firm to continue to strengthen the balance sheet despite limited cash flow upside in the near-term.

At the end of the fourth quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $9 million in Gold Royalty Corp., compared to 5 in the preceding quarter worth $3 million.

Among the hedge funds being tracked by Insider Monkey, Canada-based investment firm Sprott Asset Management is a leading shareholder in Gold Royalty Corp. with 1.6 million shares worth more than $8 million.

2. Harmony Gold Mining Company Limited (NYSE:HMY)

Number of Hedge Fund Holders: 10

Real-Time Share Price as of April 22: $4.42

Harmony Gold Mining Company Limited (NYSE:HMY) explores, extracts and processes gold. The company is trying to build a dividend profile. On April 6, it declared a quarterly dividend of $0.021 per share, an increase of nearly 40% from the previous payout of $0.015 per share. The stock has benefited from the recent rally in gold prices as inflation and market volatility leads to renewed interest in gold as a safe haven. In addition to gold, the firm has interests in uranium, silver, copper, and molybdenum deposits.

On March 7, JPMorgan analyst Dom O’Kane maintained a Neutral rating on Harmony Gold Mining Company Limited stock and raised the price target to $5 from $4, noting that there were clear macro tailwinds for gold producers.

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm Kopernik Global Investors is a leading shareholder in Harmony Gold Mining Company Limited with 7.8 million shares worth more than $32 million.

At the end of the fourth quarter of 2021, 10 hedge funds in the database of Insider Monkey held stakes worth $72 million in Harmony Gold Mining Company Limited, compared to 5 in the previous quarter worth $82 million.

1. Gold Resource Corporation (NYSE:GORO)

Number of Hedge Fund Holders: 11

Real-Time Share Price as of April 22: $2.20

Gold Resource Corporation (NYSE:GORO) develops and produces gold and silver projects. The company posted earnings for the fourth quarter of 2021 on March 11, reporting a revenue of $38 million, up more than 28% compared to the revenue over the same period last year. During the period, the firm produced and sold 22,644 gold ounces, 1,066,581 silver ounces, 1,420 copper tonnes, 5,999 lead tonnes and 13,553 zinc tonnes. The 2022 gold guidance stood at 24,000 to 26,000 ounces.

One of the premier projects of Gold Resource Corporation is the Back Forty project covering around 1,304 hectares located in Menominee county in Michigan. In addition to gold, the firm has interests in copper, lead, and zinc.

At the end of the fourth quarter of 2021, 11 hedge funds in the database of Insider Monkey held stakes worth $5.1 million in Gold Resource Corporation, up from 10 in the previous quarter worth $5.6 million.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Gold Resource Corporation with 718,860 shares worth more than $1.1 million.

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