In this article, we will list the 5 Best Debt Free Gold Stocks to Buy. Please visit 8 Best Debt Free Gold Stocks to Buy if you would like to see the extended list and the methodology behind it.

5. Allied Gold Corporation (NYSE:AAUC)

On May 14, 2026, Allied Gold Corporation (NYSE:AAUC) reported financial and operational results for the first quarter of 2026. The company produced 96,016 ounces of gold during the quarter, representing a 14% increase from the prior-year period and broadly in line with operating plans and annual guidance. Consolidated all-in sustaining costs came in at $2,264 per ounce sold, consistent with expectations. For the quarter, Allied Gold reported a net loss of $58.3M, or $(0.47) per share, while adjusted earnings totaled $48.6M, or $0.39 per share. Net cash generated from operating activities reached $57.3M during the quarter, while operating cash flow before income taxes and working capital movements totaled $162.7M. EBITDA and adjusted EBITDA were $77.7M and $173.3M, respectively. As of March 31, 2026, Allied Gold held cash and cash equivalents of $424.2M. Operationally, the company sold 99,878 ounces of gold during the quarter, slightly above production levels due to shipment timing and sales of year-end inventory.

At the Sadiola mine, production totaled 44,104 ounces and remained aligned with operational plans, with management expecting sequential production increases later in the year, supported by improved grades and throughput. Bonikro produced 29,011 ounces during the quarter, significantly above the prior-year period due to mine sequencing and stronger operational performance. Agbaou produced 22,901 ounces, supported by higher throughput and performance in line with expectations.

The company said first-quarter all-in sustaining costs were affected by higher royalty expenses tied to elevated gold prices. Allied Gold estimated that gold prices averaged approximately $4,775 per ounce during the quarter, versus the $4,250 per ounce assumption used in its initial cost guidance, which increased AISC by roughly $80 per ounce.

Allied Gold also said exploration activities during the quarter continued to focus on extending mine life and improving mine plans. The company expects to provide an update on CDI by mid-2026 and further updates on Sadiola and Kurmuk during the second half of 2026.

Allied Gold Corporation (NYSE:AAUC) operates gold mining assets across Africa and primarily explores for gold and silver deposits.

4. Osisko Development Corp. (NYSE:ODV)

On May 11, 2026, Osisko Development Corp. (NYSE:ODV) reported financial and operating results for the first quarter of 2026. As of March 31, 2026, the company held approximately $594.3M in cash and cash equivalents. Osisko Development also disclosed that about $153.2M, including accrued interest, remained outstanding under the initial draw of its US$450M senior secured project loan facility with funds advised by Appian Capital Advisory, which is being used to support development and construction of the Cariboo Gold Project. During the quarter, the company generated $2.2M in revenue and $0.7M in cost of sales from the sale of 270 gold ounces tied to small-scale operations at the Tintic Project. These activities included heap leaching of certain tailings and stockpile material, as well as direct shipping of mineralized material. Osisko Development reported an operating loss of $9.7M for Q1 2026, compared to a loss of $40.8M in the prior-year quarter.

Earlier in May, Osisko Development Corp. (NYSE:ODV) announced the appointment of Sarah MacDonald as Vice President of Construction Contracting and Commercial, effective immediately. Chairman and CEO Sean Roosen said MacDonald’s appointment strengthens the company’s execution capabilities as it advances the Cariboo Gold Project. MacDonald brings more than 18 years of legal, contract, and corporate affairs experience and previously served as General Counsel at Dumas Contracting, a STRACON Group company, where the role focused on supporting underground mining operations across Canada, Mexico, and the United States.

Osisko Development Corp. (NYSE:ODV) acquires, explores, and develops precious metals resource properties across Canada, Mexico, and the United States.

3. Royal Gold, Inc. (NASDAQ:RGLD)

On May 6, 2026, Royal Gold, Inc. (NASDAQ:RGLD) reported Q1 adjusted EPS of $2.72, compared to the consensus estimate of $2.75. Revenue totaled $469.1M, versus the consensus estimate of $476.35M. CEO Bill Heissenbuttel said the company’s record first-quarter performance reflected the portfolio expansion initiatives completed during 2025. Heissenbuttel noted that contributions from newly added interests, alongside the legacy portfolio and stronger metal prices, helped drive significant increases in revenue, cash flow, and earnings. Management also highlighted the company’s long-term capital allocation strategy and said Royal Gold now has additional flexibility to create shareholder value depending on market conditions.

On May 4, Royal Gold’s board approved a new $500M share repurchase program. The company said repurchases may be conducted through open market purchases or other means at management’s discretion, depending on market conditions and alternative uses of capital. Royal Gold added that the program is intended to be used when management believes there is a meaningful gap between the company’s market valuation and its view of Royal Gold’s intrinsic value and long-term outlook.

Last month, UBS analyst Daniel Major initiated coverage of Royal Gold, Inc. (NASDAQ:RGLD) with a Buy rating and a $325 price target. UBS said the company offers relatively lower-risk exposure to rising gold prices compared to many traditional gold miners and argued that its near- and medium-term production growth potential is not fully reflected in the current valuation.

Royal Gold, Inc. (NASDAQ:RGLD) acquires and manages precious metal streams, royalties, and related interests across mining jurisdictions worldwide.

2. OceanaGold Corporation (NYSE:OGC)

On May 12, 2026, OceanaGold Corporation (NYSE:OGC) announced additional high-grade drilling results from its ongoing exploration and resource conversion program at the Haile Gold Mine in the United States. President and CEO Gerard Bond said the latest drilling results continue to demonstrate Haile’s potential for reserve growth and resource expansion. Bond noted that mineralization at Horseshoe remains open in multiple directions, while Ledbetter drilling continues to improve confidence in down-plunge resource conversion. The company also said the new intercept at Clydesdale supports its emergence as a potentially significant new target area.

On May 6, 2026, OceanaGold Corporation (NYSE:OGC) reported operational and financial results for the first quarter of 2026. The company produced 130,100 ounces of gold and 3,200 tonnes of copper during the quarter, broadly in line with plans, with all-in sustaining costs of $2,094 per ounce. OceanaGold generated record quarterly revenue of $715M at an average realized gold price of $4,894 per ounce. EBITDA margin reached 58%, while net profit totaled $228M and EPS came in at $1.01. Operating cash flow reached a record $382M, generating free cash flow of $255M during the quarter. The company ended Q1 with a cash balance of $620M, up 30% sequentially, while maintaining no debt and leaving its revolving credit facility undrawn. During the quarter, OceanaGold also repurchased $77M worth of shares under its previously announced $350M buyback program for 2026. CEO Gerard Bond said the company entered 2026 with strong operational momentum, supported by record operating cash flow, continued capital returns to shareholders, and encouraging exploration results at Wharekirauponga.

OceanaGold Corporation (NYSE:OGC) explores, develops, and operates gold and gold-copper mining assets in the United States, the Philippines, and New Zealand.

1. Barrick Mining Corporation (NYSE:B)

On May 14, 2026, Barrick Mining Corporation (NYSE:B) announced that shareholders elected all nominees listed in the company’s Information Circular during the 2026 Annual Meeting of Shareholders. The elected directors were Helen Cai, Brian Greenspun, Brett Harvey, Mark Hill, Anne Kabagambe, Robert Samek, Loreto Silva, John Thornton, and Pekka Vauramo.

On May 11, 2026, Barrick Mining Corporation (NYSE:B) reported Q1 adjusted EPS of 98c, ahead of the consensus estimate of 81c. Revenue totaled $5.22B, compared to the consensus estimate of $4.84B. President and CEO Mark Hill said the company delivered another strong quarter to start the year, outperforming internal plans on both gold production and costs while continuing to improve safety performance. Hill added that stronger operational execution, combined with higher gold prices, helped drive significantly higher earnings and cash flow compared to the prior-year period. The company also highlighted continued progress across its growth pipeline, including developments at the Lumwana and Fourmile projects. Management said its priorities for the remainder of 2026 include further improving safety performance, meeting production and cost guidance, advancing growth projects on schedule and within budget, and executing the planned North American Barrick IPO aimed at unlocking additional shareholder value.

Barrick Mining Corporation (NYSE:B) explores, develops, and produces gold, copper, silver, and energy-related mineral assets globally.

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