On Wednesday, August 13, gold went up as the US dollar got weaker and Treasury yields fell. Mild US inflation data led to a growing expectation for a rate cut by the Federal Reserve in September. It also increased chances for additional rate cuts later in the year.
Spot gold increased by 0.4% to $3,357.59 per ounce. US gold futures for December delivery gained 0.3% to reach $3,408.50.
The dollar index declined to a more than two-week low, which made gold cheaper for overseas buyers. Meanwhile, the yield on the benchmark 10-year Treasury note also went down slightly.
Nikos Tzabouras, a senior market analyst at Tradu.com, said:
“Gold is buoyant on heightened expectations of a September Fed rate cut, following benign CPI data and July’s weak non-farm payrolls.”
Fawad Razaqzada, market analyst at City Index and FOREX.com, said:
“While I maintain a bullish long-term outlook on gold, my view for the rest of this year is more cautious. Prices may continue to consolidate or see a mini correction in the coming months as equity markets rally aggressively.”
With this background in mind, let’s take a look at the 13 most promising gold stocks according to Wall Street analysts.
Photo by Gold-bar-jingming-pan on Unsplash
Our Methodology
To compile our list of the 13 most promising gold stocks according to Wall Street analysts, we used stock screeners from Finviz and Yahoo Finance to find gold companies. We also reviewed our own rankings, financial media reports, ETFs, and various online resources to compile a list of the most promising stocks in the gold industry. Next, we focused on the top 13 stocks that analysts believe have the most potential for growth. We ranked the 13 most promising gold stocks based on their average price target upside potential according to analysts as of August 11, 2025.
Additionally, we mentioned the hedge fund sentiment surrounding each stock, which was taken from Insider Monkey’s Q1 2025 database of 1,000 elite hedge funds.
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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
13 Most Promising Gold Stocks According to Wall Street Analysts
13. New Gold Inc. (NYSEAMERICAN:NGD)
Average Price Target Upside Potential According to Analysts: 20.11%
Number of Hedge Fund Holders: 28
New Gold Inc. (NYSEAMERICAN:NGD) is one of the most promising gold stocks according to Wall Street analysts. On July 28, New Gold Inc. (NYSEAMERICAN:NGD) reported Q2 2025 results. The company reported that quarter-over-quarter production growth helped it achieve strong cash flow from operations of $163 million and a record free cash flow of $63 million.
A key factor driving this strong performance was the Rainy River project, which generated a record $45 million of quarterly free cash flow. The Rainy River project achieved a monthly production record in June and the project is on track for continued ramp-up throughout the year.
This second-quarter performance builds on the positive momentum from the first quarter. New Gold Inc.’s (NYSEAMERICAN:NGD) strong cash flow from operations allowed it to invest about $58 million in Q2 to advance growth projects.
New Gold Inc. (NYSEAMERICAN:NGD) is an intermediate mining company with a portfolio of two core producing assets in Canada, the New Afton copper-gold mine and the Rainy River gold mine.
12. Collective Mining Ltd. (NYSEAMERICAN:CNL)
Average Price Target Upside Potential According to Analysts: 20.72%
Number of Hedge Fund Holders: 5
Collective Mining Ltd. (NYSEAMERICAN:CNL) is one of the most promising gold stocks according to Wall Street analysts. On July 21, Collective Mining Ltd. (NYSEAMERICAN:CNL) announced that high-grade gold, copper, silver, and tungsten assay results have been received for five additional holes from its ongoing drilling work at the Apollo system.
This drilling program aims to outline and expand the near-surface and shallow portion of gold-silver-copper-tungsten mineralization at the Apollo system.
According to the report by Collective Mining Ltd. (NYSEAMERICAN:CNL), the five diamond drill holes coming from Pad 22, Pad 23, and Pad 25 showed strong mineralization of gold, silver, copper, and tungsten starting from at or near the surface.
The Apollo system starts at the surface and it is strongly mineralized over 1,200 vertical metres. The system is open at depth and it is the most advanced discovery so far in Collective Mining Ltd.’s (NYSEAMERICAN:CNL) Guayabales Project, located in Caldas, Colombia.
So far, 70% of the drill program focusing on the shallowest portion of Apollo has been completed. Assay results from further five holes are still awaited. Collective Mining Ltd. (NYSEAMERICAN:CNL) pointed out that additional holes are also being drilled.
Collective Mining Ltd. (NYSEAMERICAN:CNL) is a gold, silver, copper, and tungsten exploration company with projects in Caldas, Colombia.
11. NovaGold Resources Inc. (NYSEAMERICAN:NG)
Average Price Target Upside Potential According to Analysts: 21.11%
Number of Hedge Fund Holders: 14
NovaGold Resources Inc. (NYSEAMERICAN:NG) is one of the most promising gold stocks according to Wall Street analysts. On July 15, Citi initiated coverage on NovaGold Resources Inc. (NYSEAMERICAN:NG), giving the stock a Buy rating and setting the price target at $7.00.
Citi pointed out that NovaGold Resources Inc. (NYSEAMERICAN:NG) is still trading well below its 2020 levels of about $10 per share. This was when gold was trading below $2,00 per ounce.
The firm described NovaGold Resources Inc. (NYSEAMERICAN:NG) as “High-Risk” because it is a junior company that has not yet produced gold. While it offers investors significant leverage to gold prices, there is also huge execution risk.
NovaGold Resources Inc. (NYSEAMERICAN:NG) owns 60% of the Donlin Gold project in Alaska, while Paulson Advisers LLC owns the other 40%. Citi noted that this project has the potential to become the second-largest gold mine in the US, with production capacity of about 1.5 million ounces of gold.
However, the project faces major development challenges, including an estimated $10 billion capital expenditure requirement. Citi also pointed out that the recent exit of Barrick Mining Corporation (B) serves as a catalyst to advance the project after over 20 years of inactivity.
The Donlin Gold project timeline remains extended, with a new Technical Report expected in the second half of 2027 and no mine production expected before at least 2030. According to Citi, the project becomes attractive at gold prices above $2,500 per ounce but it might not make economic sense if gold prices are under $2,000 per ounce.
NovaGold Resources Inc. (NYSEAMERICAN:NG) is a precious metals company focused on the development of the Donlin Gold project in Alaska.
10. Equinox Gold Corp. (NYSEAMERICAN:EQX)
Average Price Target Upside Potential According to Analysts: 21.63%
Number of Hedge Fund Holders: 33
Equinox Gold Corp. (NYSEAMERICAN:EQX) is one of the most promising gold stocks according to Wall Street analysts. On August 7, Equinox Gold Corp. (NYSEAMERICAN:EQX) announced that it is selling its 100% interest in the Pan Mine, Gold Rock Project, and Illipah Project located in Nevada to Minera Alamos Inc. for $115 million.
According to the report by Equinox Gold Corp. (NYSEAMERICAN:EQX), this deal is expected to close in the fourth quarter of 2025.
Equinox Gold Corp.’s (NYSEAMERICAN:EQX) management pointed out that this sale of non-core assets is part of the company’s plan to optimize its portfolio and focus on its core business.
The company expects this transaction will simplify its business, strengthen the balance sheet, and allow the team to focus its efforts and capital on core operations and key development opportunities.
Equinox Gold Corp. (NYSEAMERICAN:EQX) is a Canadian mining company focused on gold operations in Canada and across the Americas.
9. Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL)
Average Price Target Upside Potential According to Analysts: 23.61%
Number of Hedge Fund Holders: 7
Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) is one of the most promising gold stocks according to Wall Street analysts. On July 16, Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) shared its gold production numbers from the Blanket Mine in Zimbabwe for the second quarter and the first half of 2025. The company also raised its annual production guidance.
In the second quarter of 2025, Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) reported gold production was 21,070 ounces, which is a new second-quarter record. For the first half of 2025, gold production reached 39,741 ounces. This represents an increase of 5.1 % compared to the first half of 2024.
Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) said the production in the first half was very good and exceeded expectations. Because of this strong performance, the company increased its gold production guidance for 2025.
The company now expects Blanket Mine to produce between 75,500 and 79,500 ounces of gold in 2025. Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) believes the mine continues to provide a solid foundation for growth.
Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) is a gold-producing company focused on Zimbabwe. The company’s main asset is the Blanket Mine.
8. Royal Gold, Inc. (NASDAQ:RGLD)
Average Price Target Upside Potential According to Analysts: 26.05%
Number of Hedge Fund Holders: 30
Royal Gold, Inc. (NASDAQ:RGLD) is one of the most promising gold stocks according to Wall Street analysts. On August 11, CFRA upgraded Royal Gold, Inc. (NASDAQ:RGLD) from Buy to Strong Buy and increased the price target from $225 to $231.
The company announced agreements to acquire Sandstorm Gold and Horizon Copper. Royal Gold, Inc. (NASDAQ:RGLD) also acquired a $1 billion gold streaming agreement for Kansanshi. CFRA believes the company has positioned itself as a top-tier growth player in the streaming industry.
CFRA increased its EPS estimates for Royal Gold, Inc. (NASDAQ:RGLD). The firm raised its EPS estimate by $0.79 to $7.74 for 2025 and by $0.56 to $8.90 for 2026.
The research firm noted that the company’s portfolio will grow to 393 total interests. This gives Royal Gold, Inc. (NASDAQ:RGLD) strong diversification while it maintains a 78% gold revenue mix.
CFRA believes Royal Gold, Inc. (NASDAQ:RGLD) is currently undervalued. The company has a top-tier margin profile, a debt-free balance sheet, and about $1.25 billion in liquidity. The company also has a strong pipeline with 47 development-stage assets.
Royal Gold, Inc. (NASDAQ:RGLD) is a leading precious metals company focused on the acquisition and management of precious metal streams and royalty interests. The company has a well-diversified portfolio of precious metal streams, royalties, and similar production-based interests in several of the world’s most attractive mines.
7. Centerra Gold Inc. (NYSE:CGAU)
Average Price Target Upside Potential According to Analysts: 34.37%
Number of Hedge Fund Holders: 17
Centerra Gold Inc. (NYSE:CGAU) is one of the most promising gold stocks according to Wall Street analysts. On August 6, Centerra Gold Inc. (NYSE:CGAU) reported that its Board of Directors has authorized a quarterly dividend of C$0.07 per common share. This totals to an amount of about C$14.3 million or $10.5 million (USD).
According to the report, this dividend will be paid on September 4, 2025, to shareholders of record as of the close of business on August 21, 2025.
In the first half of 2025, Centerra Gold Inc. (NYSE:CGAU) also repurchased $42 million worth of shares. The company has approved up to $75 million for share repurchases for the entire year.
Centerra Gold Inc. (NYSE:CGAU) is a gold mining company based in Canada that focuses on operating, developing, exploring, and acquiring gold and copper properties in North America, Türkiye, and other markets around the world.
6. IAMGOLD Corporation (NYSE:IAG)
Average Price Target Upside Potential According to Analysts: 37.66%
Number of Hedge Fund Holders: 27
IAMGOLD Corporation (NYSE:IAG) is one of the most promising gold stocks according to Wall Street analysts. On August 7, IAMGOLD Corporation (NYSE:IAG) reported its results for the second quarter of 2025, with attributable gold production reaching 173,000 ounces.
The company expects production to be higher in the second half of the year. This increase is expected to come from consistent operation of Côté Gold mine near nameplate throughput and grade improvements at both Westwood and Essakane mines.
A key highlight for IAMGOLD Corporation (NYSE:IAG) is that the Côté Gold mine has now reached its nameplate capacity. The mine had a strong full quarter of production in the second quarter. Looking ahead, the company expects stronger performance in the coming months, which will be supported by higher production expected at all its operations and the benefits of gold prices.
In the first half of 2025, IAMGOLD Corporation’s (NYSE:IAG) total attributable production was 334,000 ounces. For the second half, the company expects attributable production to be between 400,000 and 485,000 ounces. This puts IAMGOLD Corporation (NYSE:IAG) on track to achieve its full-year production guidance of 735,000 to 820,000 ounces.
This stronger second-half production forecast is based on continued improvements at the Côté Gold mine and an increase in expected grades at both Essakane and Westwood mines.
IAMGOLD Corporation (NYSE:IAG) is a Canadian gold-producing company that operates mines in North America and West Africa.
5. B2Gold Corp. (NYSEAMERICAN:BTG)
Average Price Target Upside Potential According to Analysts: 38.42%
Number of Hedge Fund Holders: 23
B2Gold Corp. (NYSEAMERICAN:BTG) is one of the most promising gold stocks according to Wall Street analysts. On July 30, B2Gold Corp. (NYSEAMERICAN:BTG) reported that it received approval from the State of Mali to start underground operations, including stope ore production, at the Fekola Mine, which is a key driver of production growth for the Fekola Complex.
Throughout 2024 and 2025, B2Gold Corp. (NYSEAMERICAN:BTG) has been doing underground exploration and development work at the Fekola Mine as it prepared for this approval. The company completed more than 9,300 meters of development work and installed underground mining infrastructure.
After getting the underground mining approval, B2Gold Corp. (NYSEAMERICAN:BTG) started stope ore production. The company is also processing underground ore that was stockpiled during the development stage.
The underground operations are important for the near-term production profile of the Fekola Complex. B2Gold Corp. (NYSEAMERICAN:BTG) expects the Fekola underground to contribute between 25,000 to 35,000 ounces of gold production in 2025. This production is expected to ramp up significantly in 2026 and the following years.
B2Gold Corp. (NYSEAMERICAN:BTG) is a senior gold-producing company headquartered in Vancouver, Canada. The company operates gold mines in Canada, Mali, Namibia, and the Philippines.
4. Alamos Gold Inc. (NYSE:AGI)
Average Price Target Upside Potential According to Analysts: 43.07%
Number of Hedge Fund Holders: 50
Alamos Gold Inc. (NYSE:AGI) is one of the most promising gold stocks according to Wall Street analysts. On July 30, Alamos Gold Inc. (NYSE:AGI) shared results for the second quarter of 2025. The company reported stronger production, 10% higher than in the first quarter, and lower costs. This helped Alamos Gold Inc. (NYSE:AGI) generate record cash flow from operations and strong free cash flow.
The company generated $84.6 million in free cash flow, which is a significant increase from the negative free cash flow of $20.1 million in the first quarter of 2025. Alamos Gold Inc. (NYSE:AGI) continues to reinvest in high-return growth projects like the Phase 3+ Expansion, Lynn Lake, and PDA.
Additionally, in the second quarter, Alamos Gold Inc. (NYSE:AGI) returned $21 million to shareholders. This included buying back 0.4 million shares for $10 million and payment of the $10.6 million quarterly dividend, which was $0.025 per share.
The company expects to continue generating strong free cash flow at current gold prices through the rest of 2025. Growth is expected to increase significantly in 2026 due to higher production and lower costs.
Alamos Gold Inc. (NYSE:AGI) is a Canadian-based gold producer with operations in North America.
3. Contango Ore, Inc. (NYSEAMERICAN:CTGO)
Average Price Target Upside Potential According to Analysts: 43.56%
Number of Hedge Fund Holders: 4
Contango Ore, Inc. (NYSEAMERICAN:CTGO) is one of the most promising gold stocks according to Wall Street analysts. On July 30, Contango Ore, Inc. (NYSEAMERICAN:CTGO) reported production results at the Peak Gold JV for the second quarter of 2025. The company holds a 30% interest in the Peak Gold JV. The remaining 70% is held by KG Mining (Alaska), Inc., which also fully operates the mine.
Contango Ore, Inc.’s (NYSEAMERICAN:CTGO) 30% share of the Peak Gold JV continued to exceed quarterly guidance with production of 17,764 ounces of gold. The cash costs were $1,416 per ounce of gold while the all-in-sustaining costs (AISC) were $1,548 per ounce, below the company’s target of $1,625 per ounce for 2025.
According to the report, Contango Ore, Inc. (NYSEAMERICAN:CTGO) expects its 30% share of the Peak Gold JV’s 2025 production to reach 60,000 ounces of gold. Over the life-of-mine, the average annual production is forecasted to be about 58,750 ounces per year through 2029. The AISC for the life of the mine is estimated at $1,400 per ounce.
In the first half of the year, Contango Ore, Inc. (NYSEAMERICAN:CTGO) received $54 million in cash distributions from the Peak Gold JV. The company expects total cash distributions for 2025 to be over $95 million. This estimate is based on a gold price of $3,100 per ounce for the rest of the year.
Contango Ore, Inc. (NYSEAMERICAN:CTGO) is an American company focused on exploration for gold and related minerals in Alaska.
2. New Found Gold Corp. (NYSEAMERICAN:NFGC)
Average Price Target Upside Potential According to Analysts: 88.91%
Number of Hedge Fund Holders: 9
New Found Gold Corp. (NYSEAMERICAN:NFGC) is one of the most promising gold stocks according to Wall Street analysts. On July 9, New Found Gold Corp. (NYSEAMERICAN:NFGC) reported the first drill results from its 2025 Work Program at the Queensway Gold Project in Newfoundland and Labrador, Canada, which is fully owned by the company.
The results confirmed the continuity of multiple domains of high-grade gold mineralization at Keats West. These domains of high-grade mineralization start at the surface and go down to about 150 meters deep. They are located close to other important zones like Iceberg and Keats in the AFZ Core area.
According to the report by New Found Gold Corp. (NYSEAMERICAN:NFGC), the results show that the gold deposits at Keats West are promising. The company sees potential to expand both inside and near the open pit of Keats West.
New Found Gold Corp. (NYSEAMERICAN:NFGC) plans to continue working at Keats West in the second half of 2025. This will include infill drilling targeting the other domains of lower-grade material and drilling to find new mineral areas inside the open pit.
New Found Gold Corp. (NYSEAMERICAN:NFGC) is a Canadian mineral exploration company focused on gold exploration and discovery. The company holds a 100% interest in the Queensway Gold Project.
1. Galiano Gold Inc. (NYSEAMERICAN:GAU)
Average Price Target Upside Potential According to Analysts: 113.34%
Number of Hedge Fund Holders: 7
Galiano Gold Inc. (NYSEAMERICAN:GAU) is one of the most promising gold stocks according to Wall Street analysts. On July 14, Galiano Gold Inc. (NYSEAMERICAN:GAU) reported positive results from a deep drilling program at the Abore deposit. The deep step-out drilling program consisted of four holes covering a strike length of 1,200 meters.
The Abore deposit is a key part of the Asanko Gold Mine, which is located in Ghana, West Africa. Galiano Gold Inc. (NYSEAMERICAN:GAU) is currently mining the Asanko Gold Mine. The recent drilling included four holes totaling 1,907 meters and was intended to check if gold mineralization continues far below the existing mining areas.
This drilling program showed that the Abore deposit has the potential to expand deeper and provides a foundation for future deep drilling programs to look for mineralization beyond the current boundaries of known gold reserves and resources.
According to the report by Galiano Gold Inc. (NYSEAMERICAN:GAU), the results of the Abore deep drilling program confirmed that the Abore granite and mineralizing system extends at least 200 meters below the current pit area along a length of 1,200 meters and is still open in all directions. The system seems to carry grades and widths at these depths promising enough to support the potential development of underground mining in the future.
Galiano Gold Inc. (NYSEAMERICAN:GAU) is a mining company focused on gold production, exploration, and development. The company owns and operates the Asanko Gold Mine in Ghana, West Africa.
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