On Friday, October 10, gold prices rose again above $4,000 per ounce after US President Donald Trump warned about possible fresh tariffs on China. This made investors rush to safe-haven assets.
President Trump said there is no reason to meet with China’s President Xi Jinping in South Korea in two weeks. He shared on Truth Social that the US is considering a massive increase in tariffs on Chinese imports.
Geopolitical risks, economic uncertainties caused by tariffs, rate cut expectations, and strong central bank gold-buying are all contributing to this current gold rally.
Tai Wong, an independent metals trader, said:
“Heating up the trade war again will tank the dollar and be good for safe-havens.”
Hamad Hussain, climate and commodities economist at Capital Economics, said
“On balance, there is a risk of a short-term pullback in prices given how quickly gold prices have risen in recent weeks. But over the next couple years, gold prices are likely to grind higher.”
With this background in mind, let’s take a look at the 11 best gold stocks to buy according to hedge funds.
Our Methodology
To compile our list of the 11 best gold stocks to buy according to hedge funds, we used stock screeners from Finviz and Yahoo Finance to find gold companies. We also reviewed our own rankings, financial media reports, ETFs, and various online resources to compile a list of the best gold stocks. Next, we focused on the top 11 gold stocks most favored by institutional investors. Data for the hedge fund sentiment surrounding each stock was taken from Insider Monkey’s Q2 2025 database of 983 elite hedge funds. Finally, the 11 best gold stocks to buy were ranked in ascending order based on the number of hedge funds holding stakes in them as of Q2 2025.
Why do we care about what hedge funds do? 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 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
11 Best Gold Stocks to Buy According to Hedge Funds
11. Equinox Gold Corp. (NYSEAMERICAN:EQX)
Number of Hedge Fund Holders: 32
Equinox Gold Corp. (NYSEAMERICAN:EQX) is one of the best gold stocks to buy according to hedge funds. On October 7, Equinox Gold Corp. (NYSEAMERICAN:EQX) shared an update about its Valentine Gold Mine in Newfoundland & Labrador, Canada.
Darren Hall, CEO of Equinox Gold Corp. (NYSEAMERICAN:EQX), said:
“Valentine delivered first gold ahead of schedule on September 14, with commissioning progressing well since introducing ore into the circuit on August 27. Through September 30, the plant averaged 57% of nameplate capacity, with more than 23% of days exceeding nameplate. As Valentine continues to ramp-up operations, we anticipate producing 15,000 to 30,000 ounces of gold in Q4 and delivering consistent nameplate capacity of 2.5 million tonnes per year by Q2 2026.”
The company acquired 100% ownership of the Valentine Gold Mine when it acquired Calibre Mining Corp. on June 17, 2025. The transaction also gave Equinox Gold Corp. (NYSEAMERICAN:EQX) full ownership of the Greenstone Mine in Ontario, Canada, making the company the second-largest gold producer in Canada.
Equinox Gold Corp. (NYSEAMERICAN:EQX) is a Canadian mining company that operates gold mines in Canada, the United States, Mexico, and Brazil. The company is focusing on growth and plans to achieve over one million ounces of annual gold production from a pipeline of expansion projects.
10. Royal Gold, Inc. (NASDAQ:RGLD)
Number of Hedge Fund Holders: 35
Royal Gold, Inc. (NASDAQ:RGLD) is one of the best gold stocks to buy according to hedge funds. On October 9, Royal Gold, Inc. (NASDAQ:RGLD) shared the preliminary results from a special meeting of its stockholders. The vote approved the issuance of Royal Gold, Inc. (NASDAQ:RGLD) common stock for its acquisition of Sandstorm Gold Ltd. (SAND).
At the same time, Sandstorm Gold Ltd. (SAND) and Horizon Copper Corp. also announced the voting results from their respective meetings. The security holders of both companies have agreed to their acquisitions by Royal Gold, Inc. (NASDAQ:RGLD).
Sandstorm Gold Ltd. (SAND) is a precious metals-focused royalty company, while Horizon Copper Corp. is a premier copper company holding a portfolio of strong copper assets
According to the report by Royal Gold, Inc. (NASDAQ:RGLD), both the acquisitions are expected to close on October 20, subject to all closing conditions being satisfied or waived.
Royal Gold, Inc. (NASDAQ:RGLD) is a leading precious metals streaming and royalty company. It has a large and diversified portfolio of streams, royalties, and similar production-based interests in several of the world’s most attractive mines.
9. Alamos Gold Inc. (NYSE:AGI)
Number of Hedge Fund Holders: 38
Alamos Gold Inc. (NYSE:AGI) is one of the best gold stocks to buy according to hedge funds. On September 15, Jefferies increased its price target on Alamos Gold Inc. (NYSE:AGI) from $38 to $39 while keeping a Buy rating. This update comes after the company announced its agreement to sell its Turkish assets for $470 million.
The payment will be made to Alamos Gold Inc. (NYSE:AGI) in parts. The company will receive $160 million at closing, which is expected in the fourth quarter of 2025. Alamos Gold Inc. (NYSE:AGI) will receive another $160 million one year after closing, and finally $150 million two years after closing.
Jefferies highlighted that these payments will be guaranteed by international financial institutions, which adds security to this deal. The research firm sees this agreement as very favorable because it significantly surpasses the consensus valuation of $273 million for the assets. It is also much higher than Jefferies’ own small valuation of $19 million.
On September 16, BMO Capital also raised its price target on Alamos Gold Inc. (NYSE:AGI) from C$48 to C$51 following this announcement.
Overall, analysts remain bullish on Alamos Gold Inc. (NYSE:AGI) and have a consensus Buy rating on the stock. As of October 10, the 12-month median price target set by analysts is $40.15, which indicates a potential upside of 21.49% from current levels.
Alamos Gold Inc. (NYSE:AGI) is a Canadian intermediate gold-producing company with operations in North America.
8. IAMGOLD Corporation (NYSE:IAG)
Number of Hedge Fund Holders: 39
IAMGOLD Corporation (NYSE:IAG) is one of the best gold stocks to buy according to hedge funds. On October 9, Raymond James increased its price target on IAMGOLD Corporation (NYSE:IAG) from $9 to $13 while keeping a Market Perform rating.
This decision to increase the price target on IAMGOLD Corporation (NYSE:IAG) came after the firm raised its gold and silver price forecasts for both the near and long term. The increase in forecasts is based on the recent run in gold prices and strong year-to-date performance.
Previously, on October 7, Michael Siperco from RBC Capital had maintained the firm’s Buy rating on IAMGOLD Corporation (NYSE:IAG).
Analysts have a positive outlook on IAMGOLD Corporation (NYSE:IAG). As of October 10, the 12-month median price target set by analysts indicates a potential upside of 10.35% from current levels.
IAMGOLD Corporation (NYSE:IAG) is a Canadian intermediate gold producer and developer with operations in North America and West Africa.
7. Franco-Nevada Corporation (NYSE:FNV)
Number of Hedge Fund Holders: 40
Franco-Nevada Corporation (NYSE:FNV) is one of the best gold stocks to buy according to hedge funds. On October 9, Raymond James increased its price target on Franco-Nevada Corporation (NYSE:FNV) from $218 to $234 while keeping an Outperform rating.
This decision came after the firm raised its gold and silver price forecasts for both the short and long term.
On October 10, CIBC also increased its price target on Franco-Nevada Corporation (NYSE:FNV) from C$315 to C$460 while maintaining an Outperformer rating.
This update was based on higher gold price forecasts and the recent surge in gold prices, which has also helped gold stocks perform strongly year-to-date.
Franco-Nevada Corporation (NYSE:FNV) is a Canadian gold-focused royalty and streaming company with a large and diversified portfolio of cash-flow producing assets.
6. Pan American Silver Corp. (NYSE:PAAS)
Number of Hedge Fund Holders: 41
Pan American Silver Corp. (NYSE:PAAS) is one of the best gold stocks to buy according to hedge funds. On September 4, Pan American Silver Corp. (NYSE:PAAS) announced that it completed its acquisition of MAG Silver Corp.
This acquisition gives Pan American Silver Corp. (NYSE:PAAS) a 44% joint venture interest in the Juanicipio silver mine in Zacatecas, Mexico. This large-scale and high-grade mine is operated by Fresnillo plc. The company sees this as a valuable addition to its portfolio, which will contribute strongly to the company’s silver production, reserves, and cash flow.
The deal also gives Pan American Silver Corp. (NYSE:PAAS) 100% ownership of the Larder exploration project and a 100% earn-in interest in the Deer Trail exploration project. This transaction strengthens the company’s position as a leading producer of silver and also improves long-term exploration potential.
Since reporting this news on September 4, Pan American Silver Corp. (NYSE:PAAS) has gained 14.65% as of October 10.
Pan American Silver Corp. (NYSE:PAAS) operates mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile, and Argentina. The company is a leading producer of silver and gold in the Americas.
5. Kinross Gold Corporation (NYSE:KGC)
Number of Hedge Fund Holders: 42
Kinross Gold Corporation (NYSE:KGC) is one of the best gold stocks to buy according to hedge funds. On October 10, CIBC increased its price target on Kinross Gold Corporation (NYSE:KGC) from C$22 to C$36 while keeping an Outperformer rating.
The financial services firm raised its gold price forecasts. CIBC now expects gold prices to reach $4,500 per ounce in 2026 and 2027.
CIBC also increased its silver price forecasts to $55 per ounce in 2026 and 2027. The firm’s analyst pointed out that because of the recent rise in gold prices and the impressive year-to-date performance of gold stocks, “some of these revisions are a catch-up.”
Kinross Gold Corporation (NYSE:KGC) is a senior gold mining company with operations and projects in the US, Brazil, Mauritania, Chile, and Canada.
4. Coeur Mining, Inc. (NYSE:CDE)
Number of Hedge Fund Holders: 44
Coeur Mining, Inc. (NYSE:CDE) is one of the best gold stocks to buy according to hedge funds. On September 3, Coeur Mining, Inc. (NYSE:CDE) shared updates about its exploration work at its Kensington underground gold mine in Alaska and its Las Chispas underground silver and gold mine in Sonora, Mexico.
The company acquired Las Chispas in February 2025. Since then, Coeur Mining, Inc. (NYSE:CDE) has raised its scout and expansion drill program, which has expanded resources in important veins within the Gap Zone and the Las Chispas Block. Extremely high-grade intercepts returned in the Las Chispas Block, which includes an assay of 1.4 feet at 390 ounces per ton on a silver equivalent basis. Such grades are rarely seen outside of the Babicanora Block according to Mitchell J. Krebs, Chairman, President, and CEO of Coeur Mining, Inc. (NYSE:CDE).
At Kensington, the company recently finished a multi-year exploration and development program that helped extend the reserve-based mine life to five years. This work is helping replace depletion and also providing the mine with improved operational flexibility. It is also helping the company identify potential sources of higher-grade material. Coeur Mining, Inc. (NYSE:CDE) discovered a new area called Elmira Hanging Wall Mineralization, which presents an opportunity for future expansion.
Since the company reported these updates on September 3, Coeur Mining, Inc.’s (NYSE:CDE) stock price is up by 40% as of October 10.
Coeur Mining, Inc. (NYSE:CDE) is an American precious metals producer with operations in North America.
3. Agnico Eagle Mines Limited (NYSE:AEM)
Number of Hedge Fund Holders: 52
Agnico Eagle Mines Limited (NYSE:AEM) is one of the best gold stocks to buy according to hedge funds. On October 9, Agnico Eagle Mines Limited (NYSE:AEM) reported that it acquired 5 million subscription receipts from a subsidiary of Fuerte Metals Corporation at a price of C$1.65 per receipt. The total cost of this investment was C$8.25 million.
According to the report by Agnico Eagle Mines Limited (NYSE:AEM), the subscription receipts will automatically turn into units that include one common share and one purchase warrant upon satisfaction of escrow release conditions. Each warrant will give Agnico Eagle Mines Limited (NYSE:AEM) the right to acquire an additional common share at a price of C$2.50 within five years from the date of issue.
This investment in Fuerte Metals Corporation aligns with Agnico Eagle Mines Limited’s (NYSE:AEM) strategy to invest in projects with high geological potential while also focusing on its portfolio of high-quality internal growth projects.
Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company. With operations in Canada, Finland, and Mexico, the company is one of the world’s largest producers of gold.
2. Barrick Mining Corporation (NYSE:B)
Number of Hedge Fund Holders: 53
Barrick Mining Corporation (NYSE:B) is one of the best gold stocks to buy according to hedge funds. On October 9, Freedom Capital Markets increased its price target on Barrick Mining Corporation (NYSE:B) from $20.50 to $42.00 while keeping a Buy rating.
The investment firm noted that Barrick Mining Corporation (NYSE:B) is strategically moving from a pure-play gold producer to becoming a leader in precious metals and copper
Freedom Capital Markets highlighted Barrick Mining Corporation’s (NYSE:B) $12 billion growth pipeline, which could help the company grow its production by 30% by 2030.
The firm also identified some important upcoming analysts for Barrick Mining Corporation (NYSE:B). This includes the Fourmile development approval, which is expected in the first quarter of 2026. Following this, the company will start underground construction.
Freedom Capital Markets also pointed out Reko Diq and Lumwana expansion projects are both planned to start production in 2028. This will create a synchronized growth inflection that will change Barrick Mining Corporation’s (NYSE:B) production levels and cash flow.
Barrick Mining Corporation (NYSE:B) is a leading mining, exploration, and development company with one of the strongest portfolios of gold and copper assets.
1. Newmont Corporation (NYSE:NEM)
Number of Hedge Fund Holders: 66
Newmont Corporation (NYSE:NEM) is one of the best gold stocks to buy according to hedge funds. On October 10, Raymond James analyst Brian MacArthur increased the firm’s price target on Newmont Corporation (NYSE:NEM) from $84 to $96 while maintaining an Outperform rating.
This decision to raise the price target on Newmont Corporation (NYSE:NEM) reflects an increase in gold and silver price forecasts, both for the short term and the long term. The firm has based this on the solid year-to-date performance and ongoing uncertainty in the economy and politics.
The analyst also expects operating and incentive costs to rise due to increased pricing for reserves and resources.
Newmont Corporation (NYSE:NEM) is a gold mining company that also produces copper, zinc, lead, and silver. It is one of the largest gold mining companies in the world.
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