12 Cheap Gold Stocks to Buy Now

4. Pan American Silver Corp. (NYSE:PAAS)

Forward Price-to-Earnings Multiple: 14.62

Number of Hedge Fund Holders: 38

With a low forward price-to-earnings multiple and significant hedge fund interest, Pan American Silver Corp. (NYSE:PAAS) secures a spot on our list of the 12 cheap gold stocks to buy now.

On December 12, 2025, Pan American Silver Corp. (NYSE:PAAS) hit its all-time high of $52.24, closing at $49.73. This follows a strong 2025 for the company, with its shares surging 150% in the year so far and over 32% in the past month alone. This surge reflects strong investor enthusiasm amid the gold and silver bullish run in 2025.

Amid this stock rally, Jefferies revisited Pan American Silver Corp. (NYSE:PAAS) on December 7, 2025. The firm raised its price target from $42 to $50, reiterating a “Hold” rating, according to The Fly. While the bank remains positive on gold equities for their attractive valuation, it urges investors to wait. However, RBC Capital followed up on December 10 with an update, reiterating a “Buy” rating and a $55 price target.

Meanwhile, Pan American Silver Corp. (NYSE:PAAS) remains focused on expanding its strategic investments. On December 5, 2025, the company acquired 18.75 million units of Galleon Gold Corp. at C$0.60 per unit through a non-brokered private placement. With this acquisition, which includes common shares and warrants, Pan American boosted its total interest in Galleon to approximately 29.7% on a partially diluted basis.

At the same time, Pan American Silver Corp. (NYSE:PAAS) released drill results from multiple operations on December 1, 2025. The operations included Jacobina, El Penon, La Colorada, and Timmins. The results featured notable high-grade intercepts confirming resource expansion and the potential to extend mine life across several key assets.

Pan American Silver Corp. (NYSE:PAAS) is a Canada-based mining company focused on the operation, development, and exploration of silver- and gold-producing properties and assets.