On December 17, Reuters reported that gold prices are surging sharply in 2025, marking the biggest increase since the 1979 oil crisis.

Bank of America strategist Michael Widmer pointed out that portfolio diversification and expectations of further gains in gold prices are supporting the rally. Widmer noted that efforts to reduce the US current account deficit and a weaker dollar policy are also helping support gold prices.

Philip Newman, managing director at Metals Focus, noted that additional support has come from tariff disputes, rising geopolitical and economic concerns, and worries over the independence of the US Federal Reserve. These factors increase the appeal of gold as a safe-haven asset.

Morgan Stanley believes gold can reach $4,500 per ounce by mid-2026. JP Morgan forecasts average prices to exceed $4,600 in the second quarter of 2026 and rise above $5,000 by the fourth quarter. Metals Focus also sees gold reaching $5,000 by the end of 2026.

Nicky Shiels, head of metals strategy at MKS PAMP, forecasts gold to average $4,500 in 2026 and expects the metal to become “a multi-year secular critical portfolio asset rather than a cyclical hedge.”

However, some analysts expect a slower pace of gains in 2026. Macquarie economists believe that global conditions have become more stable and there are expectations of improving economic growth. Macquarie forecasts a reduction in central bank easing and relatively high real interest rates. As a result, Macquarie expects gold to average $4,225 in 2026.

With this background in mind, let’s take a look at the 13 best gold mining companies to invest in now.

Our Methodology

To compile our list of the 13 best gold mining companies to invest in now, we used stock screeners from Finviz and Yahoo Finance to find gold mining companies. We also reviewed our own rankings, financial media reports, ETFs, and various online resources to compile a list of the best gold stocks. Next, we focused on the top 13 stocks most favored by institutional investors. Data for the hedge fund sentiment surrounding each stock was taken from Insider Monkey’s Q3 2025 database of 978 elite hedge funds. Finally, the 13 best gold mining companies to invest in were ranked in ascending order based on the number of hedge funds holding stakes in them as of Q3 2025.

Why do we care about what hedge funds do? 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).

13 Best Gold Mining Companies to Invest In Now

13. Eldorado Gold Corporation (NYSE:EGO)

Number of Hedge Fund Holders: 26

Eldorado Gold Corporation (NYSE:EGO) is one of the best gold mining companies to invest in now. On December 10, RBC Capital increased its price target on Eldorado Gold Corporation (NYSE:EGO) from $38 to $47 and maintained its Buy rating on the stock.

Earlier, on December 1, BofA Securities also discussed companies that could benefit the most from rising gold prices. The firm expects gold prices to climb sharply over the next year and forecasts that gold could reach $5,000 per ounce in 2026. BofA Securities believes that the macroeconomic factors that lifted prices are still in place.

The firm also pointed out that if gold matches the “2000s bull cycle,” it could potentially rise as high as $7,000 per ounce. BofA’s investment strategist, Michael Hartnett, views gold as a “top trade for 2026,” with an expected return of about 10%.

Within this broader outlook, BofA Securities analyst Lawson Winder reviewed North American mining companies and identified Eldorado Gold Corporation (NYSE:EGO) as among the companies with the “highest gold price leverage” based on its net asset value.

The company received attention after its latest reserve update, in which Eldorado Gold Corporation (NYSE:EGO) increased its total proven and probable gold reserves by 5% compared to the previous year, reaching 12.5 million ounces. This more than offsets depletion. The growth was mainly driven by the Kisladag mine and the Lamaque Complex and by a higher reserve gold-price assumption.

Despite this, BofA reiterated its Underperform rating on Eldorado Gold Corporation (NYSE:EGO) due to ongoing risks “around the build-out and commissioning of the Skouries project.” However, the firm increased its price target from $28 to $29.

Eldorado Gold Corporation (NYSE:EGO) is a mining company that focuses on gold and base metals production. It has development and exploration operations in Turkey, Canada, and Greece.

12. AngloGold Ashanti plc (NYSE:AU)

Number of Hedge Fund Holders: 26

AngloGold Ashanti plc (NYSE:AU) is one of the best gold mining companies to invest in now. On December 15, Roth MKM increased its price target on AngloGold Ashanti plc (NYSE:AU) from $84 to $92 and maintained its Buy rating on the stock. This update comes as the firm updated its estimates based on revised forecasts for the fourth quarter of 2025 and beyond.

Roth MKM noted that there is uncertainty surrounding future gold and silver prices because of the dynamics that drive cycle peaks. However, the firm also told investors in a research note that its new estimates are more in line with the current market conditions. Additionally, Roth MKM said that it is raising its gold price forecast for 2026 from $2,863 to $4,125 and its silver forecast from $32.50 to $56.25.

Several other investment firms have also raised their price targets on AngloGold Ashanti plc (NYSE:AU). On December 10, Citi increased its price target on AngloGold Ashanti plc (NYSE:AU)  from $90 to $105 and maintained its Buy rating on the stock. Also on December 10, RBC Capital raised its price target on AngloGold Ashanti plc (NYSE:AU)  from $85 to $104 while keeping its Buy rating.

Earlier, on December 3, JPMorgan also increased its price target on AngloGold Ashanti plc (NYSE:AU) from $128 to $131 and reiterated an Overweight rating on the stock.

AngloGold Ashanti plc (NYSE:AU) is a global gold mining company. It has a diverse portfolio of operations, projects, and exploration activities across 10 countries.