5 Most Promising Gold Stocks According to Analysts

In this article, we discuss the 5 most promising gold stocks according to analysts. To read the detailed analysis of the industry, go directly to the 13 Most Promising Gold Stocks According to Analysts.

5. Franco-Nevada Corporation (NYSE:FNV)

Average Analyst Price Target Upside: 33.56%

Average Analyst Price Target: $148.40

Franco-Nevada Corporation (NYSE:FNV) is a Canadian mining and energy corporation mainly operating as a gold-focused royalty and streaming company. 

On December 4, BMO Capital lowered the price target on Franco-Nevada Corporation (NYSE:FNV)’s stock to C$200 from C$214 and kept an Outperform rating on the shares.

On November 9, Franco-Nevada Corporation (NYSE:FNV) is a dividend-paying gold stock and has consecutively increased its dividend for 10 years. The stock’s dividend yield was 1.22% as of the December 15 market close.

According to Insider Monkey’s database, hedge fund sentiment was positive toward Franco-Nevada Corporation (NYSE:FNV). In the third quarter, 27 funds had investments in the stock, compared to 23 funds in the previous quarter. With nearly 2.26 million shares worth over $301.556 million, First Eagle Investment Management was the biggest stakeholder in the company.

4. Centerra Gold Inc. (NYSE:CGAU)

Average Analyst Price Target Upside: 35.82%

Average Analyst Price Target: $8.19

Centerra Gold Inc. (NYSE:CGAU) is a Canadian gold mining company that acquires, develops, explores, and manages gold and copper properties.

Over the last three months, Centerra Gold Inc. (NYSE:CGAU) was covered by 6 Wall Street analysts, and 5 kept a Buy rating on the stock. As of the December 15 market close, the average price target of $8.19 represented an upside of 35.82%.

On November 29, Desjardins started coverage of Centerra Gold Inc. (NYSE:CGAU)’s stock with a Buy rating and a C$12 price target. The firm said that the company had a strong balance sheet and a strong capital return program.

Centerra Gold Inc. (NYSE:CGAU) was mentioned in Heartland Advisors’ first quarter 2023 investor letter. Here is what it said:

“In a world of depreciating currencies, we are fans of hard assets, in particular gold miners. In our view, miners will be beneficiaries of the Federal Reserve eventually pausing, reverting to an easy money policy to stem a banking liquidity crisis. Money printing, increased deficits, and a weaker dollar are likely to increase demand for the historical storehouse of value, gold, and for those that produce it.

We own two miners, one of which is Centerra Gold Inc. (NYSE:CGAU). Centerra headquartered in Toronto, operates the Mount Milligan mine producing gold and copper and is awaiting the restart of its Oksut, Turkish mine. Due to a startup delay, the stock has been a laggard, currently priced below book value and net asset value. However, Centerra is debt free with substantial cash and ore reserves. Plus, the stock offers a 3.25% dividend yield. Under new leadership and with the restart of Oksut, we believe the earning power, at current metal prices, could approach $0.80 per share.”

3. Sandstorm Gold Ltd. (NYSE:SAND)

Average Analyst Price Target Upside: 43.83%

Average Analyst Price Target: $6.99

Sandstorm Gold Ltd. (NYSE:SAND) is a Canada-based company that acquires gold and other precious metal purchase agreements and royalties from other companies.

On November 6, Sandstorm Gold Ltd. (NYSE:SAND) Q3 revenue jumped 5.9% YoY to $41.3 million. In the coming five years, it is expected that the company’s production will be nearly 125,000 attributable gold-equivalent ounces.

12 hedge funds held a stake in Sandstorm Gold Ltd. (NYSE:SAND)’s stock in the third quarter, according to Insider Monkey’s database. Murray Stahl’s Horizon Asset Management owned 5.48 million company shares worth $25.5 million, making it the biggest investor in the company in the quarter.

On December 13, Raymond James lowered the price target on Sandstorm Gold Ltd. (NYSE:SAND)’s stock to $7.75 from $8 and kept an Outperform rating. The firm mentioned the company’s forecasted attributable gold equivalent ounces for the next five years and its commitment to debt repayment.

2. SSR Mining Inc. (NASDAQ:SSRM)

Average Analyst Price Target Upside: 50.83%

Average Analyst Price Target: $16.26

SSR Mining Inc. (NASDAQ:SSRM), previously Silver Standard Resources, is a precious metal mining company that produces gold, silver, copper, lead, and zinc.

On November 30, SSR Mining Inc. (NASDAQ:SSRM) announced that it would sell its San Luis gold and silver development project in Central Peru to Highlander Silver Corp. for $42.5 million. The company will get a 4% net smelter returns royalty on the project.

SSR Mining Inc. (NASDAQ:SSRM) was covered by 7 Wall Street analysts, and 5 maintained a Buy rating on the stock. As of the December 15 market close, the average price target of $16.26 had an upside of 50.83%.

Palm Valley Capital Management commented on SSR Mining Inc. (NASDAQ:SSRM) in its third quarter 2023 investor letter. Here is what it said:

“We did not fully sell any positions during the third quarter. We purchased four new names: Avista Corporation (ticker: AVA), Farmland Partners (ticker: FPI), Equity Commonwealth (ticker: EQC), and SSR Mining Inc. (NASDAQ:SSRM). We believe these opportunities materialized because higher interest rates are disproportionately impacting investor sentiment toward certain sectors, even as capitalization-weighted, tech-heavy indexes have powered through the headwinds.

SSR Mining is back in the Fund after a brief hiatus. SSR is a precious metals producer with four mines located in the United States, Turkey, Canada, and Argentina. The company is selling at a meaningful discount to its tangible book value and our calculated net asset value. SSR has a very strong balance sheet with more cash than debt and $4.6 billion in stockholders’ equity. Furthermore, the firm has a history of generating free cash flow, buying back stock, and paying a sustainable dividend.”

1. B2Gold Corp. (NYSE:BTG)

Average Analyst Price Target Upside: 65.71%

Average Analyst Price Target: $5.22

B2Gold Corp. (NYSE:BTG) is a Canadian company that explores and develops gold resources. The company carries out its exploration, development, and production in several countries, including Columbia, Mali, Namibia, the Philippines, Uzbekistan, Finland, and Canada.

In the third quarter, the number of hedge funds with investments in B2Gold Corp. (NYSE:BTG)’s stock was 19, compared to 17 funds in the second quarter. John Overdeck And David Siegel’s Two Sigma Advisors increased its stake by 9% to nearly 11.88 million shares worth approximately $34.33 million, making it the most significant stakeholder in the company.

On November 9, B2Gold Corp. (NYSE:BTG) posted its Q3 non-GAAP EPS of $0.05 and revenue of $477.89 million, which rose by 21.7% YoY and topped the estimates by $12.55 million.

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