In this article, we will discuss the 12 Best Gold Stocks to Buy According to Analysts.
Gold stocks have been on a tear over the past year, with the precious metal smashing records on its way to record highs. The yellow metal has already powered through the $5,500-an-ounce level, a rally fueled by soaring geopolitical tensions in the Middle East and aggressive buying by central banks.
While gold rallied by about 65% in 2025, Daniel Oliver of Myrmikan Gold Fund insists there is still room for additional gains. That’s because the yellow metal did not lead the markets during the bubble years and also lagged big techs and Bitcoin. According to Oliver, gold tends to perform better when credit is tightening rather than expanding.
Analysts at Deutsche Bank have also touted gold’s long-term prospects, as its broader investment case remains intact.
“Gold’s thematic drivers remain positive, and we believe investors’ rationale for gold (and precious metals) allocations will not have changed. The conditions do not appear primed for a sustained reversal in gold prices, and we draw some contrasts between today’s circumstances and the context for gold’s weakness in the 1980s and 2013,” Deutsche Bank said in a research note.
On the other hand, Barclays strategists insist the broader bid for gold remains resilient despite the overheated technicals, with prices at an all-time high. Soaring geopolitical tensions, policy uncertainties, and reserve diversification themes are some of the factors that support the metal’s long-term outlook.
Federal Reserve easing, central bank buying, and geopolitical tensions should continue to fuel demand for gold in 2026. Similarly, the growing bets on de-dollarization should continue to draw investors to gold mining stocks.
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Our Methodology
To compile the list of 12 Best Gold Stocks to Buy According to Analysts, we shortlisted the largest stocks involved in gold mining. We then trimmed the stocks by focusing on those with an upside potential of more than 10%. We limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research shows 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).
Best Gold Stocks to Buy According to Analysts
12. Gold Fields Limited (NYSE:GFI)
Gold Fields Limited (NYSE:GFI) is one of the best gold stocks to buy, according to analysts. On February 19, Gold Fields Limited (NYSE:GFI) delivered strong 2025 results characterized by significant improvement in safety, operational, and financial performance. Production levels ended at the upper end of the guidance, and costs were within the guided range.
Improved operational performance, coupled with higher gold production, was the catalyst behind the company’s adjusted free cash flow increasing to $2.97 billion from $605 million in 2024. Normalized profit was up 119% to $2.68 billion or $3 a share in 2025 compared to $1.23 billion or $1.37 a share in 2024.
“In line with our updated dividend policy, we have declared a final dividend of R18.50 per share, which is 164% higher than the final dividend paid last year. When combined with the interim dividend of R7.00 per share, the total dividend of R25.50 per share (US$1.60 per share) equates to 35% of free cash flow before discretionary investments, in line with our targeted 35%,” said Mike Fraser, CEO
Gold Fields remains focused on improving the quality of its production base through acquiring assets and enhancing the quality of the underlying portfolio. Therefore, the company has already disposed of a 19.5% stake in Galliano Gold. It has also entered into agreements for the sale of a portfolio of royalties and related instruments for US$167 million in cash.
Gold Fields Limited (NYSE:GFI) is a leading Johannesburg-based, globally diversified gold producer with nine operating mines and major projects across Australia, South Africa, Ghana, Peru, and Chile. The company explores, extracts, processes, and smelts gold, with some copper production, producing roughly 2 million gold-equivalent ounces annually.
11. Centerra Gold Inc. (NYSE:CGAU)
Centerra Gold Inc. (NYSE:CGAU) is one of the best gold stocks to buy, according to analysts. On February 19, Centerra Gold Inc. (NYSE:CGAU) board of directors approved a quarterly dividend of C$0.07 per common share, translating to about $10.2 million. The dividend is to be paid on March 26 to shareholders of record as of March 12, 2026.
The dividend offering comes on the heels of Centerra Gold Inc. delivering impressive fourth-quarter and full-year results on the back of strong production. Additionally, the company outperformed its cost guidance due to solid operational execution at the Mount Milligan and Oksut. Gold production in the fourth quarter totaled 70,853 ounces and 275,316 ounces for the full year. Copper production in the fourth quarter totaled 13 million pounds and 50.5 million pounds for the full year.
Revenue in the fourth quarter was up 33% to $401.6 million as the full year increased 14% to $1.38 billion. Adjusted net earnings increased 127% to $83.2 million in the fourth quarter and 50% for the full year to $152.9 million.
Centerra Gold expects 2026 gold production to range between 250,000 ounces and 280,000 ounces, with copper production of between 50 and 60 million pounds.
“Looking ahead to 2026, our production and cost guidance reflect stable operating performance across our portfolio. We are committed to protecting and expanding margins through disciplined cost management and continuous operational initiatives at Mount Milligan. We expect our operations to continue generating strong cash flow in 2026, providing the financial flexibility to advance our growth project pipeline while returning capital to shareholders.”
Centerra Gold Inc. (NYSE:CGAU) is a Canadian-based mining company that explores, develops, operates, and acquires gold and copper properties in North America and Turkey. Key operations include the Oksut Mine in Turkey, the Mount Milligan Mine in Canada, and the Goldfield project. They also produce and sell molybdenum.
10. Newmont Corporation (NYSE:NEM)
Newmont Corporation (NYSE:NEM) is one of the best gold stocks to buy, according to analysts. On February 24, Argentina’s Economy Minister, Luis Caputo announced Newmont Corporation (NYSE:NEM) is poised to invest about $800 million over six years in the Cerro Negro Mine.
The $800 million investment is expected to restart and expand the Cerro Negro mine with plans to extend its operational life beyond 2035. The expansion is part of an effort to increase Argentina’s annual gold production.
The investment follows Chief Executive Officer Natascha Viljoen reiterating on February 19 that Newmont has the largest gold reserve. The company had gold mineral reserves of 118.2 million ounces as of the end of 2025, compared to 134.1 million as of the end of 2024. The decrease was due to the divestment of assets in 2025. The company’s portfolio also includes 12.5 million attributable tons of copper reserves and 442 million ounces of silver reserves.
“Through the disciplined application of technical rigor in our leading exploration program, we remain focused on extending mine life, discovering new opportunities, and unlocking value across our world-class portfolio of operations and projects,” said Natascha Viljoen.
Newmont Corporation (NYSE:NEM) is the world’s leading gold company and a prominent producer of copper, silver, zinc, and lead. It operates mines across Africa, Australia, Latin America, and North America, focusing on responsible, sustainable mining practices, including reclamation and environmental stewardship.
9. Kinross Gold Corporation (NYSE:KGC)
Kinross Gold Corporation (NYSE:KGC) is one of the best gold stocks to buy, according to analysts. On February 18, Kinross Gold Corporation (NYSE:KGC) board of directors approved a 14% increase on the longstanding dividend in addition to a 33% increase announced in the third quarter of 2025. The new dividend will amount to $0.16 a share on an annualized basis. The company is to pay a quarterly dividend of $0.04 per share on March 26, 2026, to shareholders of record as of March 11, 2026.
The dividend increase follows the delivery of solid fourth-quarter and full-year 2025 results as the company generated record free cash flow of $2.5 billion, representing an 85% year over year increase.
The significant free cash flow increase came despite gold production dropping to 489,671 ounces in Q4 2025 from 514,355 ounces in Q4 2024. Full-year gold production in 2025 totaled 2.07 million ounces compared to 2.17 million ounces in 2024. Adjusted net earnings surged to $809.3 million in the fourth quarter and $2.24 billion for the full year compared to compared to $240 million and $838 million for Q4 and full year 2024, respectively. Full-year metal sales totaled $7.05 billion, up from $5.14 billion in 2024.
Kinross Gold returned $1.5 billion to debt and equity holders in 2025 and ended the year with a net cash position of $1 billion.
Kinross Gold Corporation (NYSE:KGC) is a Toronto-based senior gold mining company engaged in the exploration, acquisition, development, and operation of gold properties, with some silver byproduct recovery. It operates mines and projects across the United States, Canada, Brazil, Chile, and Mauritania, focused on open-pit mining, ore processing, and reclamation.
8. Galiano Gold Inc. (NYSE:GAU)
Galiano Gold Inc. (NYSE:GAU) is one of the best gold stocks to buy according to analysts. On February 12, Galiano Gold Inc. (NYSE:GAU) delivered fourth-quarter and full-year 2025 results after a year of strong momentum at the flagship Asanko Gold Mine (“AGM”) in Ghana.
Gold production was up for a fourth consecutive quarter in Q4 as it increased 80% compared to the first quarter. The increased production follows the commissioning and optimization of the secondary crusher, therefore lifting the plant performance to near nameplate capacity.
During the fourth quarter, Galiano Gold Inc. mined 1.6 million tons of ore at an average mined grade of 0.9 grams per ton of gold. Total revenue in the quarter increased to $159.7 million compared to $64.6 million for the same quarter of the prior year.
Full-year revenue nearly doubled to $447.77 million compared to $231.34 million delivered in 2024. Adjusted net income attributable to shareholders totaled $58.53 million compared to $39.55 million in 2024. Adjusted net income per share attributable to common shareholders totaled $0.23 in 2025.
“With gold production expected between 140,000 to 160,000 ounces in 2026, an increase of approximately 25% year-on-year, we are well positioned to grow production and execute on our aggressive exploration strategy to unlock the full long-term potential of the AGM,” said Matt Badylak, Galiano’s President and Chief Executive Officer.
Galiano Gold Inc. (NYSE:GAU) is a gold mining and exploration company that owns and operates the Asanko Gold Mine (AGM) in Ghana, West Africa. It focuses on producing gold, conducting regional exploration, and managing mine development, holding a significant land package on the Asankrangwa Gold Belt.
7. Barrick Mining Corporation (NYSE:B)
Barrick Mining Corporation (NYSE:B) is one of the best gold stocks to buy according to analysts. On February 5, Barrick Mining Corporation (NYSE:B) delivered solid fourth-quarter and full-year 2025 results as the company achieved its gold and copper production guidance. Consequently, the company delivered record quarterly cash flow and record adjusted net earnings per share.
Gold production in the fourth quarter was up 5% sequentially to 871,000 ounces as the company produced 62,000 tons of copper. Revenue in the quarter totaled $6 billion, with operating cash flow of $2.73 billion, up 13% year over year. Free cash flow was up 9% to $1.62 billion as adjusted earnings per share in the quarter increased 79% sequentially to $1.04.
Full-year revenues was up 31% year over year to $16.96 billion as operating cash flow increased 71% to $7.69 billion and free cash flow was up 194% to $3.87 billion. Full-year gold production totaled 3.26 million ounces and full-year copper production totaled 220,000 tons
“The outstanding finish to 2025 showcases the strength of Barrick’s operations and the commitment of its people. The agreement in Mali to secure the release of our colleagues was a major success, and I commend all who were involved for this tremendous result,” said Mark Hill, President and Chief Executive Officer.
Following the better than expected results the board of directors has approved a 140% increase in quarterly dividend to $0.42 a share. The dividend offering comes on the company repurchasing 500 million shares in the fourth quarter taking its total buyback for the year to $1.5 billion.
On February 25, Barrick Mining Corporation announced the appointments of James J. McGuire as Chief Legal and Policy Officer and Woo Lee as Chief Global Affairs Officer, both reporting to President and CEO Mark Hill as members of the Executive Committee.
Barrick Mining Corporation (NYSE:B) is a leading mining company that explores, develops, and operates a portfolio of world-class gold and copper assets across 17 countries. It focuses on producing gold and copper from mines in North America, South America, Africa, and Papua New Guinea.
6. DRDGOLD Limited (NYSE:DRD)
DRDGOLD Limited (NYSE:DRD) is one of the best gold stocks to buy according to analysts. On February 18, DRDGOLD Limited (NYSE:DRD) delivered impressive interim results for the six months ended December 31, 2025, characterized by higher cash generation.
Revenue was up by 33% to R5 053.2 million from the sale of 2 388kg of gold, with the average gold price rising 43% to R2 114 227/kg. As a hedged producer, DRDGOLD ended up with headline earnings of R1 932.4 million, up 99%. Operating profit for the six months was also up 72% to R2 712.8 million.
DRDGOLD delivered better than expected results despite gold production for the six months declining 9% to 2,337 kg due to weather-related interruptions in November and December.
“Favourable gold prices have allowed us to reinvest meaningfully in extending the life of our operations, to maintain a strong financial position and to continue to create value in a way that remains sustainable for our business and our stakeholders,” said CEO Niël Pretorius.
The company is advancing its vision 2028 that focuses on the construction of infrastructure linking the Ergo plant to the Daggafontein tailings storage facility (TSF). Regulatory and engineering work to restart deposition at the Withok TSF is also progressing.
DRDGOLD Limited (NYSE:DRD) is a South Africa-based, surface gold mining company that specializes in the retreatment of mine tailings (dumps/slimes) to recover gold, operating mainly through its Ergo and Far West Gold Recoveries (FWGR) operations. It uses high-pressure hydromechanical mining to reclaim tailings, restoring the land and removing environmental hazards.
5. NovaGold Resources Inc. (NYSE:NG)
NovaGold Resources Inc. (NYSE:NG) is one of the best gold stocks to buy, according to analysts. On February 9, NovaGold Resources Inc. (NYSE:NG) and Donlin Gold Holdings selected Fluor Corporation to lead the Bankable Feasibility Study for the Donlin Gold Project in Alaska.
The selection marks an important milestone in advancing the Donlin Gold project as Fluor boasts of an impressive track record in delivering complex projects on schedule and within budget. Fluor is committed to delivering an integrated high-quality study with emphasis on safety, sustainability, quality, cost accuracy, constructability, and execution readiness.
Fluor is to release a more detailed schedule and budget of the Bankable Feasibility Study in the coming months. The study will also pave the way for steady and deliberate development of the Donlin Gold project, which is one of NovaGold Resources’ flagship projects with approximately 40 million ounces of gold in the Measured and Indicated Mineral Resource categories.
Earlier on February 5, NovaGold Resources generated $310 million in gross proceeds from a private placement of 31.02 million common shares. The company is to use net proceeds from the offering to advance the development of the Donlin gold project and to prepay or issue a promissory note to Barrick Mining Corporation.
NovaGold Resources Inc. (NYSE:NG) is a Vancouver-based precious metals company focused on developing the Donlin Gold project in Alaska, one of the world’s largest and highest-grade known undeveloped open-pit gold deposits. It is a “pure-play” gold developer, operating in partnership with Barrick Gold Corporation to advance this project through permitting, engineering, and environmental studies.
4. Gold Royalty Corp. (NYSE:GROY)
Gold Royalty Corp (NYSE:GROY) is one of the best gold stocks to buy, according to analysts. On February 19, Gold Royalty Corp (NYSE:GROY) entered into an agreement for the upsizing and amendment of its existing credit facility to up to $150 million.
The amended agreement is with a syndicate of banks, including Bank of Montreal, National Bank Capital Markets, and the Royal Bank of Canada. The revised credit facility consists of $125 million in a secured credit line. The agreement also allows for an additional $25 million, subject to certain conditions. The facility is to bear a reduced interest rate of between 2.25% and 3.25%.
Andrew Gubbels, Chief Financial Officer, commented: “Following our recent acquisitions, we are pleased to announce this increased Facility with a growing syndicate of supportive lenders. In addition to reducing our cost of capital, the Facility positions us to execute our growth strategy efficiently in the future.”
Earlier on January 21, Gold Royalty announced it achieved record revenue growth in the fourth quarter and full year. Total revenue in the fourth quarter of 2025 was up 37% to $5.2 million, translating to 1,255 gold equivalent ounces. Full-year revenue was also up 38% to a record $17.7 million. The record revenue came into being despite a transitional period at the Vares mine due to strong performance across a diversified portfolio of cash-flowing royalties and streams.
Gold Royalty Corp. (NYSE:GROY) is a precious metals-focused company that acquires and manages net smelter return (NSR) royalties and streaming interests, primarily in the Americas. It acts as a financier for mining companies, providing capital in exchange for a percentage of future revenue from projects, offering investors exposure to gold production without operating risk.
3. Contango Ore Inc. (NYSE:CTGO)
Contango Ore Inc. (NYSE:CTGO) is one of the best gold stocks to buy, according to analysts. On February 25, Contango Ore Inc. (NYSE:CTGO) confirmed it has made significant progress on the underground diamond drilling program at the Lucky Shot project in Alaska. While the initial phase is focused on validating the geological model, the company plans to deliver a feasibility study in H1 2027.
Initial results at the Lucky Shot project assert continuity of the historically mined Lucky Shot vein and are expected to advance understanding of other veins, including L1b and L1c veins. Contango ORE has also discovered new mineralized structures, including the KM vein, that represent a new mineralized structural orientation.
Earlier, on February 12, Contango ORE closed an underwritten offering of common stock and raised $50 million in gross proceeds. In the offering, the company sold 1.67 million shares at $24.96 a share to two institutional investors. The company plans to use about $45 million in net proceeds from the offering to buy back gold hedge contracts and about $700,000 for the purchase of gold put contracts for downside protection.
Contango Ore Inc. (NYSE:CTGO) is a U.S.-based mining company focused on exploring, developing, and producing gold, silver, and copper, primarily in Alaska. It holds a 30% interest in the Peak Gold Joint Venture (Manh Choh project) with Kinross Gold, which began production in 2024, alongside other projects like Lucky Shot and Johnson Tract.
2. Caledonia Mining Corporation Plc (NYSE:CMCL)
Caledonia Mining Corporation PLC (NYSE:CMCL) is one of the best gold stocks to buy, according to analysts. On February 23, Caledonia Mining Corporation PLC (NYSE:CMCL) confirmed the appointment of Stanbic Bank Zimbabwe and CBZ Bank Limited as co-lead arrangers of a $150 million financing pact.
The company plans to use the $150 million financing to support the development of the Bilboes gold project in Zimbabwe. The funding should be in place by mid-2026, subject to customary lender processes and approvals.
“The appointment of Stanbic and CBZ as co-lead arrangers represents an important step in executing the funding strategy we set out in January. We believe this facility, together with our hedging programme, the proceeds from the Convertible Notes Offering, and internal cash generation from Blanket Mine, will provide additional financial flexibility as we continue to advance our growth plans,” said Mark Learmonth, Chief Executive Officer.
The company has already closed a $150 million 7 –year convertible senior notes offering following strong demand for institutional investors in the US. Investor demand exceeded $600 million after three days of marketing.
Following the capital raise drive, Caledonia Mining has started implementing a four-part funding plan to ensure the Bilboes gold project can be advanced at pace.
Caledonia Mining Corporation Plc (NYSE:CMCL) is a Zimbabwe-focused gold producer, explorer, and developer that owns a 64% stake in the Blanket Mine, its primary operating asset. It focuses on maximizing gold production, developing new projects like Bilboes and Motapa.
1. Dakota Gold Corp. (NYSE:DC)
Dakota Gold Corp (NYSE:DC) is one of the best gold stocks to buy according to analysts. On February 9, Dakota Gold Corp (NYSE:DC) announced the pricing of 12.34 million shares of its common stock, with expected gross proceeds of approximately $75 million from the offering or about $86.25 million on underwriters exercising the Option in full.
Dakota Gold Corp plans to use net proceeds from the offering to finance working capital and for other general corporate purposes. The pricing of the public offering comes on the heels of the company intersecting 5 g/t gold over 24.9 meters at the Richmond Hill Oxide Heap Leach Gold Project.
The Richmond project plays host to a large resource of 3.65 million ounces of measured and indicated gold. It also contains about 2.61 million ounces of inferred gold and 38.1 million oz. of M&I silver.
Shawn Campbell, Chief Financial Officer, added, “We are pleased to be advancing a project that in addition to gold, hosts a considerable amount of silver. Silver was recently designated as a Critical Mineral in the United States, and the Richmond Hill project has the potential to support domestic supply and contribute to the nation’s long-term mineral security.”
Dakota Gold Corp. (NYSE:DC) is a South Dakota-based mineral exploration and development company focused on discovering and advancing high-grade gold deposits in the historic Homestake District of Lead, South Dakota. They are primarily developing the Richmond Hill Oxide Heap Leach Gold Project and the Maitland Gold Project, aiming to revive mining on private land.
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