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.
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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.
9. New Gold Inc. (NYSE:NGD)
Analyst Upside: 15.48%
Number of Hedge Fund Holders: 28
New Gold Inc. (NYSE:NGD) is one of the best gold mining companies to buy now. On August 1, Canaccord increased the price target on New Gold Inc. (NYSE:NGD) stock from $5.99 to $6.53, maintaining its Buy rating.
Jeremy Hoy from Canaccord raised the price target on New Gold Inc. (NYSE:NGD) following the strong Q2 FY2025 results. The company posted revenue of $308 million and adjusted earnings per share of $0.11. The analyst remains positive on New Gold following a record FCF of $63 million in Q2, with Rainy River contributing the highest quarterly FCF of $45 million. The increase in FCF at Rainy River was driven by increased production and processing of higher-grade open-pit ore.
Hoy believes that the increase in FCF will underpin further share price outperformance as the company delivers on near-term production growth. New Gold has also made notable progress on the C-Zone cave construction at New Afton, which remains one of the top-producing mines for the company.
New Gold Inc. (NYSE:NGD) is a Canadian gold mining company that is engaged in the development and operation of mineral properties. The company primarily explores for gold, silver, and copper deposits.
8. Eldorado Gold Corporation (NYSE:EGO)
Analyst Upside: 15.95%
Number of Hedge Fund Holders: 16
Eldorado Gold Corporation (NYSE:EGO) is one of the best gold mining companies to buy now. On August 11, Scotiabank raised the price target on Eldorado Gold Corporation (NYSE:EGO) from $24 to $25.50, keeping its Sector Perform rating on the stock.
Tanya Jakusconek from Scotiabank increased the price target of EGO following record Q2 FY2025 revenue. The company posted revenue of $452 million, up by 52% year-over-year and exceeding estimates by $38.20 million. Eldorado achieved a total production of 133,769 ounces of gold, with the Lamaque complex surpassing expectations.
Jakusconek is optimistic about Eldorado Gold Corporation, given the positive development at Skouries. The Skouries project has reached 70% for phase two of construction, and the first copper-gold concentrate production is expected in Q1 2026. Whereas, the company remains on track to achieve its 2025 guidance of producing between 460,000 and 500,000 ounces of gold.
Eldorado Gold Corporation (NYSE:EGO) is a Canada-based gold and base metals producer with mining, development, and exploration operations in Turkiye, Canada, and Greece.
7. NovaGold Resources Inc. (NYSE:NG)
Analyst Upside: 16.86%
Number of Hedge Fund Holders: 14
NovaGold Resources Inc. (NYSE:NG) is one of the best gold mining companies to buy now. On July 16, Citi initiated coverage on NovaGold Resources Inc. (NYSE:NG) stock with a Buy rating, setting the price target at $7.
Alexander Hacking from Citi initiated coverage on NG and pointed out that NovaGold remains well below its 2020 levels of almost $10 per share, when gold was trading $2,000 per ounce. Hacking sees potential in the NovaGold’s Donlin Gold project in Alaska, which the company owns 60% and Paulson Advisers holds the remaining 40%. The analyst mentioned that the project could become the second-largest gold mine in the U.S., with production capacity of almost 1.5 million ounces.
The analyst further mentioned that the development faces major challenges, including an estimated $10 billion capital expenditure requirement. Hacking said that Barrick’s recent exit opens a path for NovaGold to advance the project after more than 20 years of inactivity. The analyst believes that the project economics become attractive with gold prices above $2,500 per ounce, but are not feasible below $2,000 per ounce.
NovaGold Resources Inc. (NYSE:NG) explores and develops gold mineral properties in the U.S. The company owns a 60% interest in the Donlin Gold project, consisting of over 493 mining claims.
6. Equinox Gold Corp. (NYSE:EQX)
Analyst Upside: 18.50%
Number of Hedge Fund Holders: 33
Equinox Gold Corp. (NYSE:EQX) is one of the best gold mining companies to buy now. On August 7, Equinox Gold Corp. (NYSE:EQX) announced the sale of its non-core Nevada assets for $115 million.
Equinox Gold sealed the sale of its 100% stake in the Pan Mine, Gold Rock Project, and Illipah Project in Nevada to Minera Alamos. The company will be payable, including a cash consideration of $90 million and equity consideration worth nearly $25 million of Minera Alamos common shares.
Darren Hall, the CEO of Equinox Gold, mentioned the sale of the assets as the company’s commitment to portfolio optimization and disciplined capital allocation.
“This transaction simplifies our business and allows the team to focus our efforts and capital on core operations and key development opportunities, positioning Equinox Gold to drive greater shareholder returns. The US$90 million in cash proceeds will strengthen our balance sheet, and the significant equity ownership will provide continued exposure to the upside within the Nevada Assets as well as to Minera Alamos’ existing high-quality portfolio,” added Hall.
The equity consideration represents approximately a 9.99% stake in Minera Alamos. The transaction is expected to close during Q4 2025, subject to receipt of all regulatory and stock exchange approvals.
Equinox Gold Corp. (NYSE:EQX) is a diversified gold company. It engages in the exploration, development, operation, and acquisition of mineral properties in the Americas.
5. B2Gold Corp. (NYSE:BTG)
Analyst Upside: 28.75%
Number of Hedge Fund Holders: 23
B2Gold Corp. (NYSE:BTG) is one of the best gold mining companies to buy now. On August 7, B2Gold Corp. (NYSE:BTG) reported the financial results for the second quarter of FY2025, reiterating its 2025 total gold production.
B2Gold expects to achieve its 2025 total gold production guidance of 970,000 to 1.07 million ounces. The company anticipates the Fekola Complex, Masbate Mine, and Otjikoto Mine to continue to outperform production expectations. On June 30, 2025, the company completed the first gold pour from its new Goose Mine in Nunavut. The Goose Mine is expected to begin commercial production in September 2025 and add between 120,000 and 150,000 ounces of gold in 2025.
In the long-term inclusive, the Goose Mine is estimated to generate average annual gold production of almost 300,000 ounces of gold per year from 2026 to 2031. Moreover, the realized gold price per ounce remains above the original 2025 budgeted gold price of $2,250 per ounce, improving B2Gold’s cash-generating activities.
B2Gold Corp. (NYSE:BTG) is a gold miner and producer company in Canada. The company operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, the Otjikoto Mine in Namibia, and other projects.
4. IAMGOLD Corporation (NYSE:IAG)
Analyst Upside: 28.87%
Number of Hedge Fund Holders: 27
IAMGOLD Corporation (NYSE:IAG) is one of the best gold mining companies to buy now. On August 8, Scotiabank reiterated the Hold rating on IAMGOLD Corporation (NYSE:IAG) stock, with a price target of $8.50.
Scotiabank analyst Tanya Jakusconek maintained the rating on IAG as the analyst remains positive on the company following Q2 FY2025 results. The company posted revenue of $580.90 million, driven by sales of 182,000 ounces of gold at an average realized price of $3,182 per ounce. IAMGOLD achieved nameplate throughput at Cote Gold ahead of schedule.
IAMGOLD Corporation is well on track to achieve production guidance of 735,000 to 820,000 ounces of gold for 2025. Moreover, the company’s completion of gold prepayment arrangements allows it to have full exposure to the current gold price and improve cash flow generation. The company is also making notable progress in organic growth projects, especially in Canada, with Nelligan and Monster Lake assets indicating promising resource potential.
IAMGOLD Corporation (NYSE:IAG) is a Canada-based gold producer and developer. The company’s primary activities include exploration, development, and operation of gold mining properties in North America and West Africa.
3. Centerra Gold Inc. (NYSE:CGAU)
Analyst Upside: 33.99%
Number of Hedge Fund Holders: 17
Centerra Gold Inc. (NYSE:CGAU) is one of the best gold mining companies to buy now. On August 6, Centerra Gold Inc. (NYSE:CGAU) announced that it had completed a study for its Goldfield project in Nevada.
Centerra Gold’s study of its Goldfield project confirms attractive economics for the project. This includes an after-tax net present value of $245 million and an after-tax internal rate of return of 30%, considering a long-term gold price of $2,500 per ounce. The study also considered the impact of gold hedges on a portion of production in 2029 and 2030.
“Favourable gold prices combined with these recent developments have improved the Project’s economics, enabling us to move forward with execution. We believe Goldfield is well-positioned to deliver strong returns. The project is expected to be funded from Centerra’s existing liquidity and is located in a top tier mining jurisdiction, with an approximate 7-year mine life, average annual gold production of around 100,000 ounces in peak production years at an all-in sustaining cost (AISC) of approximately $1,392 per ounce, and a competitive initial capital cost of about $250 million,” said, President and CEO, Paul Tomory.
Centerra is proceeding with the project and will immediately initiate detailed engineering and procurement activities for construction. The company expects first production from Goldfield by the end of 2028.
Centerra Gold Inc. (NYSE:CGAU) is a gold mining company that engages in exploration, development, operation, and acquisition of gold and copper properties worldwide.
2. Alamos Gold Inc. (NYSE:AGI)
Analyst Upside: 45.75%
Number of Hedge Fund Holders: 50
Alamos Gold Inc. (NYSE:AGI) is one of the best gold mining companies to buy now. On August 4, RBC Capital reiterated the Buy rating on Alamos Gold Inc. (NYSE:AGI) stock, maintaining the price target at $34.
Michael Siperco from RBC Capital retains his rating on AGI following record Q2 FY2025 results. Alamos Gold posted record revenue of $438 million, with an average realized gold price of $3,223 per ounce. The company achieved total gold production of 137,000 ounces during Q2, up by 10% from the previous quarter.
Siperco remains optimistic on Alamos’ prospects as the company achieved all-in sustaining cost reduction by 18% compared to Q1, with further cost relaxation expected. Moreover, the Island Gold District is expected to become one of the largest, low-cost, and most profitable gold mines in Canada. The company remains well on track to achieve its future production goals and minimize its costs.
Alamos Gold Inc. (NYSE:AGI) is a gold miner and producer with operations in Canada, Mexico, and the U.S. The company primarily explores for gold deposits.
1. Seabridge Gold Inc. (NYSE:SA)
Analyst Upside: 155.10%
Number of Hedge Fund Holders: 16
Seabridge Gold Inc. (NYSE:SA) is one of the best gold mining companies to buy now. On August 12, Seabridge Gold Inc. (NYSE:SA) announced exciting results from Snip North, confirming a copper-gold porphyry deposit.
Seabridge Gold reported results from the first three holes drilled at the Snip North property. The company identified a copper-gold porphyry of unusual size and consistency. The three holes are part of a 12,000-meter drill program designed to expand zones of extreme potassic alteration and associated mineralization discovered in 2024. The first three holes have successfully confirmed the mineralized footprint of the property, achieving wide intervals of porphyry-style mineralization with significant copper and gold grades.
“We are very excited by the early results from this year’s program. Our drilling is designed to achieve a density of pierce points needed for a maiden resource from a mineralized zone that so far measures approximately 1,700x600x600 meters, with the aim of announcing a resource estimation for Snip North early next year,” said Seabridge Chairman and CEO Rudi Fronk.
So far, the true thickness of these intervals is unknown, and additional drilling results and geological modeling are required to arrive at conclusive results for each interval’s true width.
Seabridge Gold Inc. (NYSE:SA) is a gold mining company engaged in exploring, acquiring, and advancing mineral properties in Canada and the U.S.
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