In this article, we will list the 5 Best Gold Mining Companies to Buy With High Upside Potential. Please visit 9 Best Gold Mining Companies to Buy With High Upside Potential if you would like to see the extended list and the methodology behind it.
5. Equinox Gold Corp. (NYSEAMERICAN:EQX)
Stock Upside Potential: 40.10%
Number of Hedge Fund Holders: 37
Equinox Gold Corp (NYSEAMERICAN:EQX) is one of the best gold mining companies to buy with high upside potential. On March 30, Equinox Gold Corp (NYSEAMERICAN:EQX) reiterated that it remains focused on ramping up and achieving sustained nameplate milling capacity of 27,000 tons per day at the Greenstone Gold Mine in Ontario, Canada.
Achieving a milling capacity of 27,000 tons per day will establish Greenstone as a cornerstone within the vast portfolio. Achieving stable nameplate performance would open the door to further increases in mill throughput to 30,000 tonnes per day while incorporating higher-grade underground resources.
At the Valentine Gold Mine project in Newfoundland & Labrador, Canada, the company is proceeding with Phase 2 expansion, scheduled for completion in the second half of 2028. The expansion will increase throughput to 13,700 tons per day and annual gold production to an average of 223,000 ounces per day over the next ten years.
Equinox also remains focused on unlocking additional value through the growth and enhancement of Mineral Reserves and Mineral Resources, supported by a $70 to $80 million exploration budget in 2026.
Equinox Gold Corp. (NYSEAMERICAN:EQX) is a Canadian-based mining company focused on acquiring, exploring, developing, and operating gold mines in the Americas (Canada, USA, Mexico, and Brazil). The company produces and sells gold, aiming to be a premier producer with significant growth projects, including the Greenstone mine.
4. Eldorado Gold Corporation (NYSE:EGO)
Stock Upside Potential: 41.22%
Number of Hedge Fund Holders: 22
Eldorado Gold Corporation (NYSE:EGO) is one of the best gold mining companies to buy with high upside potential. On March 25, Eldorado Gold Corporation (NYSE:EGO) entered into a Memorandum of Understanding with G-Mining Services to establish a strategic alliance for engineering and construction.
Under the terms of the MOU, G Mining is to provide engineering and construction services to support Eldorado Gold’s project development and execution activities. The ultimate goal is to enhance project readiness, delivery certainty, and capital efficiency across current and future projects. The agreement aligns with the company’s push to maximize value from sector-leading projects.
Eldorado Gold is leveraging G Mining expertise to strengthen its project delivery model through consistent teams, aligned ways of working, and a strong track record of safe, reliable execution. The partnership is also expected to help the company maximize cash flow per share from a high-quality internal growth pipeline.”
On the other hand, the board of directors is urging investors to consider and vote on the Share Issuance Resolution. The proposed arrangement is expected to establish an operating platform and financial strength with Foran’s highly attractive growth profile.
Eldorado Gold Corporation (NYSE:EGO) is a Canadian-based mid-tier gold and base metals producer engaged in the mining, development, and exploration of mineral properties. It operates mines primarily in Canada, Greece, and Türkiye, producing gold, silver, lead, and zinc.
3. Barrick Mining Corporation (NYSE:B)
Stock Upside Potential: 45.06%
Number of Hedge Fund Holders: 75
Barrick Mining Corp (NYSE:B) is one of the best gold mining companies to buy with high upside potential. On April 2, analysts at Raymond James lowered their price target on Barrick Mining Corp (NYSE:B) to $61 from $62 while reiterating an Outperform rating.
The outperform rating reflects the company’s significant interest in high-quality gold mines and copper assets. Consequently, it remains well-positioned to continue generating strong cash flow. The acquisition of Randgold has exposed the company to top-tier assets and prospects for free cash flow generation.
In addition, the creation of the Nevada joint venture with Newmont consolidated management has also expanded the company’s footprint into the world’s largest gold complex. It has also opened the door to meaningful synergies. However, Barrick Gold has had to go slow on developing copper and gold projects in Pakistan due to security concerns in the region. The company plans to reduce its capital spending while maintaining active management.
Barrick Mining Corporation (NYSE:B) is a leading international mining company engaged in the exploration, development, production, and sale of gold and copper assets. It operates high-margin, long-life mines across 18 countries, with a focus on Africa, North America, South America, and Saudi Arabia.
2. Kinross Gold Corporation (NYSE:KGC)
Stock Upside Potential: 52.33%
Number of Hedge Fund Holders: 40
Kinross Gold Corporation (NYSE:KGC) is one of the best gold mining companies to buy with high upside potential. On March 12, RBC Capital upgraded Kinross Gold Corporation (NYSE:KGC) to an Outperform from Sector Perform and raised the price target to $45 from $36.
The upgrade and price target hike are in response to the company’s high free cash flow generation prospects. In addition, the research firm believes the company is well-positioned to benefit from rising gold prices and a stable operating outlook. The research firm expects the company to generate a free cash flow yield of more than 11% in 2026, attributed to higher gold prices.
Raymond James expects cash flow from higher gold prices to drive growth in per-share metrics for investors. In addition, the company has outlined plans to return capital to shareholders backed by robust gold mining assets across multiple jurisdictions. The company remains in a solid financial position, with its board of directors approving a 14% increase in its longstanding dividend. Its dividend will be $0.16 per share on an annualized basis.
Kinross Gold Corporation (NYSE:KGC) is a gold mining company that explores, develops, and operates gold mines globally. It primarily produces and sells gold and silver, with major mining operations in the Americas and West Africa.
1. Coeur Mining, Inc. (NYSE:CDE)
Stock Upside Potential: 60.97%
Number of Hedge Fund Holders: 51
Coeur Mining Inc (NYSE:CDE) is one of the best gold mining companies to buy with high upside potential. On March 23, Cantor Fitzgerald upgraded Coeur Mining Inc (NYSE:CDE) to a Buy but lowered the price target to $20 from $24.
The upgrade is in response to the stock’s recent pullback amid broader industry consolidation. In addition, the research firm remains confident about the company’s long-term prospects, driven by its 2026 guidance and the prospects of mine life extensions. Dividend and buy-back plans also affirm commitment to shareholder value, thus the buy rating.
Coeur Mining Inc expects its 2026 consolidated gold, silver, and copper production to range between 680,000 and 815,000 ounces, 18.7 – 21.9 million ounces, and 50 – 65 million pounds, respectively. Amid the expected production, the board of directors has authorized an expanded $750 million share repurchase program. The board has also authorized a $0.02 share semiannual dividend expected to be paid in June and December.
“With the New Gold acquisition now complete, the addition of New Afton and Rainy River increases our expected overall gold production by 80% and adds meaningful copper production alongside our dominant silver production profile. The tremendous free cash flow profile from our combined platform of seven North American operations will allow the Company to meaningfully accelerate and enlarge its return of capital strategy while also further bolstering our overall liquidity position,” said Mitchell J. Krebs, Chairman, President and Chief Executive Officer.
Coeur Mining, Inc. (NYSE:CDE) is a precious metals producer with a primary focus on exploring, developing, and operating gold and silver mines in North America. It owns several major operations, including the Rochester (NV), Kensington (AK), Wharf (SD), Palmarejo (Mexico), and Las Chispas (Mexico) mines, as well as Canadian assets (Rainy River, New Afton).
While we acknowledge the potential of CDE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CDE and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: 10 Best Multibagger Penny Stocks to Invest In and 8 Best Blue Chip AI Stocks to Buy Now.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email below.
