In this article, we will discuss: 11 Best Gold Stocks to Buy for 2026.
According to Reuters on January 22, Goldman Sachs boosted its end-2026 gold price projection from $4,900 to $5,400 per ounce. The firm noted the ongoing diversification by central banks in the private sector and emerging markets. Following an uptick of 64% in 2025, spot gold saw an 11% surge in 2026, reaching $4,887.82 per ounce. The brokerage pointed out that purchases made by buyers in the private sector, who act as a hedge against risks associated with international policy, “don’t liquidate their gold holdings in 2026, effectively lifting the starting point of our price forecast.” Furthermore, the aforementioned analysts anticipate a rise in Western ETF holdings, supported by a projected 50 basis-point rate drop by the U.S. Federal Reserve.
As emerging markets strive to diversify their reserves into gold, Goldman Sachs predicted central banks would buy an average of 60 tonnes in 2026. The brokerage cautioned that a significant decline in the perceived risks associated with long-term global monetary policy would lead to the liquidation of macro policy hedges. This would present a downside risk. The firm stressed that ETF accumulation and continuous central bank demand are still important factors supporting this year’s gold gain.
With that said, here are the 11 Best Gold Stocks to Buy for 2026.
Image by Csaba Nagy from Pixabay
Our Methodology
We sifted through the ETFs and online rankings to form an initial list of the 20 Best Gold Stocks to Buy for 2026. From the resultant dataset, we chose the 11 Best Gold Stocks with the highest number of hedge fund holders for each stock using Insider Monkey’s database of hedge funds as of Q3 2025. We also considered the analysts’ upside potential of over 20% as of January 27. Finally, we ranked these stocks in ascending order based on hedge funds.
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 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
11. TRX Gold Corporation (NYSE:TRX)
Number of Hedge Fund Holders: 2
Analysts’ Upside Potential as of January 27: 31.58%
TRX Gold Corporation (NYSE:TRX) is among the Best Gold Stocks.
On January 16, 2026, TheFly reported that H.C. Wainwright kept its Buy rating. It boosted its price objective for TRX Gold Corporation (NYSE:TRX) from $1.40 to $1.50. Higher assumptions in the company’s commodities price deck were attributed by the analyst to the target hike.
On January 15, 2026, TRX Gold Corporation (NYSE:TRX) announced $25.12 million in Q1 revenue, up from $12.53 million in the same period last year. The corporation sold 6,492 ounces of gold at an average realized price of $3,860 per ounce during the quarter while pouring a record 6,597 ounces. EBITDA was $13.2 million, or a 53% margin, while gross profit was $14.2 million, or a 57% margin. According to management, solid cash flow supported working capital upgrades, the development of plans to renovate and develop the processing plant, and increased research spending to better identify resources at the Buckreef Gold project.
TRX Gold Corporation (NYSE:TRX) explores, develops, and produces mineral property interests in the United Republic of Tanzania.
10. GoldMining Inc. (NYSE:GLDG)
Number of Hedge Fund Holders: 9
Analysts’ Upside Potential as of January 27: 206.45%
GoldMining Inc. (NYSE:GLDG) is among the Best Gold Stocks.
On January 7, 2026, TheFly reported that Roth Capital reaffirmed its Buy recommendation. It lifted GoldMining Inc. (NYSE:GLDG)’s price objective to $2.80 from $2.60. The increase is a result of further drilling at the Sao Jorge project, which the company claims has potential for resource growth, as well as a better valuation of the company’s interests.
GoldMining Inc. (NYSE:GLDG) also declared a management change that was going to take effect on January 1, 2026, and on January 2, 2026. Paulo Pereira left his position as President of the firm to take on the role of Country Manager for Brazil. Alastair Still, the CEO, took on the additional position of President.
On January 26, 2026, the corporation released 2025 drilling results at its São Jorge Project, including 19 meters at 1.00 g/t gold from 425 meters down. This is one of the deepest intercepts to date. Drilling is scheduled for 2026 after induced polarization measurements revealed a more than one-kilometer chargeability anomaly at William South.
GoldMining Inc. (NYSE:GLDG) operates as a mineral exploration company that focuses on acquiring, exploring, and developing mining properties.
9. Vista Gold Corp. (NYSE:VGZ)
Number of Hedge Fund Holders: 10
Analysts’ Upside Potential as of January 27: 55.44%
Vista Gold Corp. (NYSE:VGZ) is among the Best Gold Stocks.
Vista Gold Corp. (NYSE:VGZ) stated that it plans to start thorough engineering and design at its Mt Todd gold project by early 2027, based on a January 13, 2026, report by TheFly. The Mt Todd Feasibility Study, completed in July 2025, proposed a smaller initial project by targeting higher-grade ore, lowering initial capital expenditures, and utilizing contractors to reduce development and operational risk. The company is concentrating on project execution planning in 2026. The firm has initiated the permit amendment process and is working with consultants, regulators, and stakeholders. It anticipates that all permit changes will be authorized by year’s end.
Vista Gold Corp. (NYSE:VGZ) recorded a consolidated net loss of $0.7 million, or $0.01 per common share, in the most recent quarter, compared to $1.6 million, or $0.01 per common share, in the previous quarter. The corporation received about $1.3 million in the third quarter of 2025 as a result of recovering some taxes paid in connection with the 2020 sale of the Los Reyes gold property in Mexico. As of September 30, 2025, the total amount of cash and cash equivalents was $13.7 million, down from $16.9 million on December 31, 2024.
Vista Gold Corp. (NYSE:VGZ) evaluates, acquires, explores, and advances gold exploration and potential development projects.
8. New Found Gold Corp. (NYSE:NFGC)
Number of Hedge Fund Holders: 12
Analysts’ Upside Potential as of January 27: 29.80%
New Found Gold Corp. (NYSE:NFGC) is among the Best Gold Stocks.
On January 26, 2026, New Found Gold Corp. (NYSE:NFGC) entered into a Phase 1 EPCM contract with WSP Canada Inc. for site planning and detailed engineering of an offsite milling plant, advancing its 100%-owned Queensway Gold Project in Newfoundland and Labrador. The corporation intends to grow and modernize its fully authorized Pine Cove Mill to handle Phase 1 feed from Queensway and Hammerdown. An Environmental Registration submission is anticipated in late Q1/26 to start the environmental review process, and environmental baseline work is nearly finished. Cutfield Freeman & Co. Ltd. serves as a project finance consultant to maximize Phase 1 funding. A revised mineral resource estimate and an updated Technical Report are scheduled for mid-2026. The first gold pour is scheduled for H2/27, subject to permissions.
On January 21, 2026, the 2026 drill program began with four rigs focused on infill and research. The K2 zone infill results, which show prospective resource expansion inside AFZ Core and support resource conversion, include 5.22 g/t Au over 14.90 m and 8.51 g/t Au over 6.65 m. Bullseye is now undergoing step-out drilling.
The stock was up by 10.56% YTD as of January 27, 2026.
New Found Gold Corp. (NYSE:NFGC) is a mineral exploration company that acquires, explores, and evaluates resource prospects.
7. Caledonia Mining Corporation Plc (NYSE:CMCL)
Number of Hedge Fund Holders: 12
Analysts’ Upside Potential as of January 27: 43.31%
Caledonia Mining Corporation Plc (NYSE:CMCL) is among the Best Gold Stocks.
Caledonia Mining Corporation Plc (NYSE:CMCL) reportedly obtained $150 million through a seven-year convertible bond sale to finance the construction of its Bilboes project, which is anticipated to grow into Zimbabwe’s largest gold mine, based on a January 21, 2026, Reuters story. After years of restricted access to foreign investors, the capital raise marks Zimbabwe’s largest overseas fundraising effort in almost ten years. The company reported that demand from institutional investors in the United States exceeded $600 million, showing a significant appetite for the issuance in the midst of record gold prices. On the day of the announcement, spot gold soared above $4,800 per ounce, indicating that gold miners should expect more production.
According to Caledonia Mining Corporation Plc (NYSE:CMCL), Bilboes is anticipated to begin production in late 2028 and produce 200,000 ounces annually for the first ten years starting in 2029. The project is anticipated to cost $584 million in total, with extra regional bank financing and a peak finance requirement of $484 million. Currently, the firm runs the 80,000-ounce-per-year Blanket mine in Zimbabwe.
The stock was up by 17.66% YTD as of January 27, 2026.
Caledonia Mining Corporation Plc (NYSE:CMCL) is engaged in the exploration, development, and production of gold and other precious metals from its mining holdings.
6. Seabridge Gold Inc. (NYSE:SA)
Number of Hedge Fund Holders: 13
Analysts’ Upside Potential as of January 27: 89.52%
Seabridge Gold Inc. (NYSE:SA) is among the Best Gold Stocks.
Seabridge Gold Inc. (NYSE:SA) released a 2025 year-end report on operations, exploration, and corporate initiatives on December 18, 2025. The company finished advanced power infrastructure and 8,500 meters of geotechnical drilling over 117 holes at KSM, setting the project up for a feasibility assessment. Seabridge anticipates improvements in 2026 and has progressed collaboration conversations. The corporation expects to distribute shares to shareholders after spinning out Courageous Lake into Valor Gold. Courageous Lake has 3.3 million inferred ounces of gold and 11.0 million measured and indicated ounces. Exploration at the Iskut Project recognized a porphyry system, with a resource estimate set for early 2026.
On December 02, 2025, TheFly reported that Nick Giles, a B. Riley analyst, boosted Seabridge Gold Inc. (NYSE:SA)’s price objective from $50 to $65. It retained a Buy rating on the stock. The update takes into account current joint venture talks, site advancements at the KSM project, and rising gold prices. The analyst supported a boost in valuation by noting KSM as the largest undeveloped gold mine in the world with substantial copper resources.
Seabridge Gold Inc. (NYSE:SA) specializes in the acquisition and exploration of gold properties.
5. Osisko Development Corp. (NYSE:ODV)
Number of Hedge Fund Holders: 17
Analysts’ Upside Potential as of January 27: 70.39%
Osisko Development Corp. (NYSE:ODV) is among the Best Gold Stocks.
On January 27, 2026, TheFly reported that Osisko Development Corp. (NYSE:ODV) announced a $125 million bought deal financing on behalf of a syndicate. National Bank Capital Markets, RBC Capital Markets, and Cantor are serving as co-lead underwriters and co-bookrunners. The underwriters decided to spend $125 million in gross proceeds for 35.31 million common shares at a price of $3.54 each. The Cariboo Gold Project’s infill conversion drilling, in-depth exploration, and general operating capital are all to be funded by net proceeds.
Separately, Osisko Development Corp. (NYSE:ODV) reported on January 23, 2026, that an isolated event at the Cariboo Gold Project in central British Columbia, Canada, on January 22 resulted in the death of a surface contractor. As stated by the company, an investigation into the occurrence is in progress, and the relevant authorities were swiftly contacted. Project operations have been put on hold for the time being so that the inquiry can continue. The incident’s facts and the anticipated length of the suspension were not further explained by the company.
Osisko Development Corp. (NYSE:ODV) is involved in the purchase and exploration of mineral deposits.
4. Aura Minerals Inc. (NASDAQ:AUGO)
Number of Hedge Fund Holders: 17
Analysts’ Upside Potential as of January 27: 72.07%
Aura Minerals Inc. (NASDAQ:AUGO) is among the Best Gold Stocks.
On January 19, 2026, TheFly reported that BofA reaffirmed its Buy rating and lifted its price objective for Aura Minerals Inc. (NASDAQ:AUGO) from $55.50 to $70. Higher targets for the precious metals group in North America included the adjustment. According to the company, the macro factors driving up gold prices have become more intense. Furthermore, BofA anticipates solid business capital returns in the fourth quarter.
Preliminary Q4 and full-year 2025 production results from six active mines were released by Aura Minerals Inc. (NASDAQ:AUGO) on January 12, 2026. Production in the fourth quarter hit a new high of 82,067 gold equivalent ounces, up 23% from Q4 2024 at current prices and 11% from Q3 2025. Production jumped 12% sequentially and 30% annually in Q4 at constant prices. Production for the entire year 2025 was 280,414 GEO at current prices. Output was 285,380 GEO at guidance prices, placing it in the upper half of the outlook. During the time frame covered by the January preliminary disclosure, output came from the Apoena, Aranzazu, Minosa, Almas, Borborema, and MSG mines.
Aura Minerals Inc. (NASDAQ:AUGO) is involved in the development and operation of gold, copper, and base metal projects throughout the Americas.
3. Dakota Gold Corp. (NYSE:DC)
Number of Hedge Fund Holders: 18
Analysts’ Upside Potential as of January 27: 82.77%
Dakota Gold Corp. (NYSE:DC) is among the Best Gold Stocks.
Dakota Gold Corp. (NYSE:DC) released new drill results and plans for the Richmond Hill and Maitland projects on January 13, 2026. Drilling at Richmond Hill in 2025 yielded 1.18 g/t gold over 47.6 meters and 2.19 g/t over 31.1 meters, including 17.35 g/t over 1.5 meters, from step-out holes that extended mineralization north of present resources. The 2026 program involves 15,481 meters across 109 holes in support of a Pre-Feasibility Study scheduled for the second half of 2026. Infill drilling will focus on resource upgrades, while expansion and condemnation drilling will help with mine planning.
On December 23, 2025, Dakota Gold Corp. (NYSE:DC) released the results of its expansion drilling from Richmond Hill. The business completed 242 holes totaling 29,279 meters, with 136 assays released. Highlights confirmed mineralization up to 230 meters north of resources, with 4.52 g/t gold over 15.2 meters, 1.43 g/t over 30.2 meters, and 1.74 g/t over 25.7 meters. Metallurgical drilling revealed 2.87 g/t over 17.3 meters, which supports feasibility studies.
Dakota Gold Corp. (NYSE:DC) is a business that explores and develops gold.
2. i-80 Gold Corp. (NYSE:IAUX)
Number of Hedge Fund Holders: 21
Analysts’ Upside Potential as of January 27: 42.53%
i-80 Gold Corp. (NYSE:IAUX) is among the Best Gold Stocks.
i-80 Gold Corp. (NYSE:IAUX) released fresh high-grade test findings from its 2025 drilling program at Nevada’s Granite Creek Underground Project on January 20, 2026. The South Pacific Zone’s high-grade mineralization was verified by the results of forty holes, which also suggested the possibility of growth to the north and at depth. The 2025 program included step-out and infill drilling, totaling 16,000 meters across 46 holes. Highlight intercepts were 15.0 g/t over 17.5 meters, 12.8 g/t over 19.8 meters, 31.3 g/t over 7.8 meters, and 40.4 g/t gold over 13.2 meters. A feasibility study and an updated mineral resource estimate are anticipated to be completed in late Q1 2026, with the results being made public in Q2 2026.
On December 18, 2025, i-80 Gold Corp. (NYSE:IAUX) published an engineering report for renovating Nevada’s Lone Tree Plant. A $430 million capital estimate, a nameplate capacity of 2,268 tons per day, and an anticipated payback period of 12 to 24 months are all stated in the report. After the recapitalization is completed, a construction decision is expected. Construction is expected to start in the second half of 2026 if related permits are approved, and plant commissioning is scheduled for the end of 2027.
i-80 Gold Corp. (NYSE:IAUX) offers gold production and development services.
1. Gold Royalty Corp. (NYSE:GROY)
Number of Hedge Fund Holders: 23
Analysts’ Upside Potential as of January 27: 30.72%
Gold Royalty Corp. (NYSE:GROY) is among the Best Gold Stocks.
On January 26, 2026, TheFly reported that Scotiabank maintained its Outperform rating. It increased its price objective for Gold Royalty Corp. (NYSE:GROY) from $5 to $6. The change was part of a larger modification to its Gold and Precious Minerals coverage universe. Scotiabank has raised its projections for the prices of gold and silver, citing geopolitical threats, economic uncertainties, and the sector’s ongoing solid central bank gold purchases.
Furthermore, on January 23, 2026, Maxim reaffirmed its buy rating and boosted its price goal for Gold Royalty Corp. (NYSE:GROY) from $5 to $7. The company revised its valuation model to account for recent acquisitions of gold royalties and rising gold prices. According to Maxim, all of these factors suggest that the firm’s production expansion profile and exposure to rising gold prices will be beneficial.
Separately, on December 8, 2025, the company declared that it had reached a deal with BlackRock World Mining Trust plc to purchase an existing royalty on the Pedra Branca mine for $70 million in cash.
Gold Royalty Corp. (NYSE:GROY) is a royalty corporation that specializes in precious metals and offers financing solutions to the mining and metals market.
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Disclosure: None. 11 Best Gold Stocks to Buy for 2026 is originally published on Insider Monkey. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
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