In this article, we will take a look at the 12 Best Gold Mining Companies to Buy Now.
Gold mining stocks are receiving a positive review from analysts. Recently, analysts at UBS highlighted that miners are enjoying a period of relative success after a poor track record in recent years. The gold miners are starting to rebuild investor confidence and trust, the analysts pointed out.
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UBS said that while gold prices have been range-bound over the past three months, the VanEck Gold Miners ETF has outperformed the price of gold by 15%. So far year-to-date, the ETF has outperformed gold by more than 40%. The analysts further said that if gold prices remain steady, they expect gold mining companies to increase stock buybacks in 2025. This would speed up organic growth projects and support companies to take part in more mergers and acquisitions activity.
The price of gold eased on Monday after President Trump announced that tariffs would not be placed on gold. After the market panic over the tariff rumours on gold, the gold futures surged to a record high on August 7. The U.S. Customs and Border Protection posted on its website, saying that Washington might place country-specific import tariffs on gold bullion bars. Later, a White House official clarified that gold will not be tariffed and the Trump administration would further clarify ‘misinformation’ about tariffs on gold bars, which are duty-free.
J.P. Morgan Research expects the gold prices to average $3,675 per ounce by the fourth quarter of 2025, increasing toward $4,000 per ounce by the second quarter of 2026.
“Earlier this year, we examined the structural shift in gold’s demand and geopolitically influenced pricing drivers fueling its rebasing higher, ultimately posing the question if $4,000/oz is in the cards,” said Natasha Kaneva, head of Global Commodities Strategy at J.P. Morgan.
With these industry shifts in mind, let’s turn to the 12 Best Gold Mining Companies to Buy Now.
Aerial view of a gold mine in Mali, showing the scale of the mining operations.
Our Methodology
To compile the list of 12 best gold mining companies to buy now, we shortlisted the largest stocks involved in gold mining. We then ranked these best gold mining companies in ascending order of upside potential. We took the data for the upside potential from CNN. We also mentioned the number of hedge funds holding stakes in these stocks, and the data for hedge funds is taken from Insider Monkey’s Hedge Fund database, updated as of Q1 2025.
Note: The data was recorded on August 13.
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).
12 Best Gold Mining Companies to Buy Now
12. Fortuna Mining Corp. (NYSE:FSM)
Analyst Upside: 5.87%
Number of Hedge Fund Holders: 22
Fortuna Mining Corp. (NYSE:FSM) is one of the best gold mining companies to buy now. On August 6, Scotiabank raised the price target on Fortuna Mining Corp. (NYSE:FSM) from $7.50 to $8, maintaining its Sector Perform rating.
Eric Winmill from Scotiabank upgraded the price target on FSM following the Q2 FY2025 results. The company posted modest financial results with improved liquidity of $537 million, up by $76 million from Q1 FY2025. The sale of two mines added $84 million in proceeds, freeing up $50 million in capital for high-value growth opportunities. The company has $215 million in net cash, up from $137 million in the previous quarter. This helps the company to support future growth decisions.
Winmill sees the latest resource update as positive for FSM and is looking forward to the completion of the Preliminary Economic Analysis (PEA) for Diamba Sud. Moreover, the Seguela mine is on a growth trajectory, with production guidance of 140,000 ounces of gold for 2025 and 1770,000 to 180,000 ounces for 2026.
Fortuna Mining Corp. (NYSE:FSM) is a precious and base metal mining company. The company operates the Lindero gold mine, the Yaramoko gold mine, the Seguela gold mine, and the San Jose silver-gold mine.
11. Barrick Mining Corporation (NYSE:B)
Analyst Upside: 9.40%
Number of Hedge Fund Holders: 46
Barrick Mining Corporation (NYSE:B) is one of the best gold mining companies to buy now. On August 11, CIBC upgraded the rating on Barrick Mining Corporation (NYSE:B) from Neutral to Outperform, keeping the price target at $30.01.
Anita Soni from CIBC raised the rating on Barrick stock following strong Q2 FY2025 results. Barrick Mining reported robust earnings per share, reaching $0.47, the highest since 2013. The increase in earnings was driven by higher production across the board, with gold output soaring 5% and copper production rising by 34% sequentially.
Barrick’s gold group performance was driven by Nevada Gold Mines, with production increasing 11% quarter-over-quarter. Pueblo Viejo also recorded a 28% production increase, influenced by progress on the expansion. The company’s copper production is growing and now expects to reach the upper end of the full year guidance range.
Barrick Mining Corporation (NYSE:B) engages in the exploration, development, production, and sale of mineral properties. The company explores for gold, copper, silver, and energy materials.
10. Agnico Eagle Mines Limited (NYSE:AEM)
Analyst Upside: 12.20%
Number of Hedge Fund Holders: 50
Agnico Eagle Mines Limited (NYSE:AEM) is one of the best gold mining companies to buy now. On July 23, Canaccord Genuity increased the price target on Agnico Eagle Mines Limited (NYSE:AEM) from $143.23 to $152.68, keeping its Buy rating on the stock.
Canaccord Genuity analyst Carey MacRury raised the price target on AEM following strong Q2 FY2025 results. The company posted record financial results, with revenue of $2.8 billion, exceeding estimates by $115.07 million. The adjusted earnings came in at $1.94 per share, surpassing consensus by $0.14. The company improved its financial position with $1.3 billion in FCF and repurchasing shares worth $100 million, alongside $550 million in debt repayments. The robust results were driven by gold production of around 866,000 ounces and a high realized gold price of $3,288 per ounce.
The analyst remains positive as the company made significant progress on important projects, including record gold production at Odyssey and Macassa. Agnico Eagle Mines had the best mill throughput at Detour for the second quarter. Moreover, the company continues to invest in future growth with projects, including Detour, Hope Bay, Malartic, San Nicolas, and Upper Beaver. These projects could substantially increase the gold production capacity.
Agnico Eagle Mines Limited (NYSE:AEM) is a gold mining company. It engaged in the exploration, development, and production of precious metals, including gold, silver, zinc, and copper.
