11 Best Canadian Gold Stocks to Buy According to Hedge Funds

5. Sandstorm Gold Ltd. (NYSE:SAND)

Number of Hedge Fund Holders: 27

Year-To-Date Returns: 76.88%

Sandstorm Gold Ltd. (NYSE:SAND) is one of the best Canadian gold stocks to buy according to hedge funds. On August 5, the company said it supports Royal Gold Inc.’s (NASDAQ:RGLD) acquisition of a gold stream on the Kansanshi copper-gold mine in Zambia for $1 billion. The company stated that it had specifically contemplated such a large acquisition in its prior agreement with Royal Gold.

Royal Gold will fund the acquisition using existing cash reserves and its revolving credit facility, without issuing new shares. The gold stream is structured to deliver 75 ounces per million pounds of recovered copper produced by Kansanshi until Royal Gold has received 425,000 ounces. This delivery rate will drop to 55 ounces and then 45 ounces per million pounds for subsequent production milestones. The stream is expected to provide immediate cash flow, with an initial delivery of approximately 12,500 ounces of gold in 2025, and an average of 35,000–40,000 ounces per year anticipated over the next decade.

Why does this deal warrant Sandstorm’s attention? Sandstorm and Royal Gold entered into a definitive arrangement on July 6, 2025, for the latter to acquire all outstanding shares of Sandstorm in an all-share transaction. As such, Sandstorm’s support for this acquisition reflects the strategic benefit for its shareholders.

Sandstorm Gold Ltd. (NYSE:SAND) is a Canadian royalty and streaming company. It acquires gold and other precious metal royalties from mining operators, primarily through agreements that provide a percentage of production from active and development-stage mines. Its portfolio includes over 230 royalties, with 40 currently producing.