8 Best Gold Penny Stocks to Buy According to Analysts

In this piece, we discuss the Best Gold Penny Stocks to Buy According to Analysts.

Recent market coverage of the safe-haven asset points to a growing focus on finding valuation-driven opportunities in the gold space.

This is in response to the growing need for investors to reassess their positions in the gold space amid significant capital inflows into the metal. According to BlackRock data cited by Reuters on March 26, 2026, commodity exchange-traded products (ETPs) saw more than $100 billion in inflows in 2025 alone. This included $83 billion in gold and another $15.5 billion of inflows in January, which has led to gold becoming a crowded trade. According to Bank of America’s data, gold was trading 30% above its 200-day moving average before the recent geopolitical events. This suggested that gold was overstretched even before the outbreak.

Despite this scenario, Reuters notes that the underlying fundamentals of gold stocks are favorable.

Gold mining stocks are seen to be generating record cash flow while trading at a discount to their historical averages. This has created a gap between underlying earnings potential and current valuations. This has led to institutional investors seeking opportunities in the gold space by focusing on underlying valuation differences.

Gold equities have remained muted in 2026 so far, despite gaining over 100% in the past year.

Meanwhile, another Reuters report published on March 24, 2026, cited Deutsche Bank’s comments that investors are reassessing traditional safe-haven assets. Yet optimism about the safe-haven asset persists, with a few analysts still advising investors to buy gold at current levels.

On this note, we will now jump to our list of the 8 best gold penny stocks to buy according to analysts.

Our Methodology

To curate our list of the best gold and precious metals penny stocks, we used a screener to identify stocks trading under $5 with reasonable analyst coverage. These stocks boast significant upside from their current levels. Finally, we ranked these stocks by upside, presenting our list in ascending order.

Note: All data was sourced on March 28, 2026.

8. Vox Royalty Corp. (NASDAQ:VOXR)

Vox Royalty Corp. (NASDAQ:VOXR) earns a place on our list of the 8 best gold penny stocks to buy according to analysts.

As of March 28, 2026, the consensus price target of $6.90 suggests a 42.56% upside potential for Vox Royalty Corp. (NASDAQ:VOXR), with 100% covering analysts maintaining bullish ratings on the stock. The sentiment remains intact as the company’s management anticipates a strong 2026.

On March 16, 2026, Vox Royalty Corp. (NASDAQ:VOXR) announced its inclusion in the VanEck Junior Gold Miners ETF and the MVIS Global Junior Gold Miners Index, effective prior to market open on March 23, 2026, gaining additional visibility.

This marks a critical step toward improving investor exposure and liquidity, with the ETF overseeing about $10.3 billion in total net assets. CEO Kyle Floyd emphasized that the admission reflects Vox Royalty Corp. (NASDAQ:VOXR)’s growth in precious metals royalty revenue and net income, complementing its previous membership in the Russell 2000 Index.

The milestone follows the positive management guidance for 2026 shared earlier this month. Vox Royalty Corp. (NASDAQ:VOXR)’s management projects $28 to $32 million in royalty and net precious metal receipts, which could translate into a 70% to 90% year-over-year growth. This year, the company expects its first revenue from several royalties.

At the same time, Vox Royalty Corp. (NASDAQ:VOXR) announced a 20% increase in its quarterly dividend, bringing it to $0.015 per share. The dividend will be payable on April 14, 2026.

Vox Royalty Corp. (NASDAQ:VOXR), established in 2014 and based in Ontario, Canada, is a precious metals royalty and streaming company with 36 licenses, one royalty option, and assets distributed across seven jurisdictions.

7. TRX Gold Corporation (NYSE:TRX)

TRX Gold Corporation (NYSE:TRX) earns a place on our list of the 8 best gold penny stocks to buy according to analysts.

As of March 28, 2026, the analyst sentiment toward TRX Gold Corporation (NYSE:TRX) is highly positive, with all analysts remaining bullish on the stock. Meanwhile, the consensus price target of $2.30 implies a 75.57% upside potential.

On March 2, 2026, TRX Gold demonstrated strong financial and operational performance through its preliminary Q2 2026 results. The company sold almost 7,400 ounces of gold and produced 7,453 ounces, a 13% increase from Q1 2026. Not only that, TRX Gold Corporation (NYSE:TRX) set a new record for the average gold price sold, with each ounce sold for $4,682, representing a 21% increase year-over-year. Higher prices are expected to generate stronger revenue for the company in the quarter. TRX Gold has also improved its balance sheet with gross proceeds of $21.0 million through the exercise of warrants, with no warrants outstanding. The company ended the quarter with a cash balance of $25 million and a working capital ratio of 2.5x.

On the same day, H.C. Wainwright maintained its “Buy” rating and increased the price target on TRX Gold Corporation (NYSE:TRX) to $2.30 from $1.50, citing record gold production as the basis of the price target adjustment.

TRX Gold Corporation (NYSE:TRX), established in 1990 and based in Oakville, Canada, specializes in the development and production of gold, particularly at the Buckreef Gold Project in Tanzania, with an emphasis on operational expansion and financial stability.

6. Gold Royalty Corp. (NYSE:GROY)

Gold Royalty Corp. (NYSE:GROY) earns a place on our list of the 8 best gold penny stocks to buy according to analysts.

As of March 28, 2026, analysts remain optimistic about Gold Royalty Corp. (NYSE:GROY), with 90% of covering analysts remaining bullish on the stock. The consensus price target of $6.00 implies an 80.72% upside potential. The company’s strong operational momentum helps sustain analyst confidence.

On March 18, 2026, Gold Royalty Corp. (NYSE:GROY) published its fiscal year-end financial results, featuring record performance and a robust growth outlook.

With $15.6 million in gold revenue and 5,173 gold equivalent ounces (GEOs) realized during the year, the company’s total revenue came in at $17.8 million. Adjusted EBITDA of $9.8 million and positive operating cash flow of $6.2 million were recorded at year-end, marking a critical turning point in the company’s growth.

Meanwhile, Gold Royalty Corp. (NYSE:GROY) reported fourth-quarter gold revenue of a record $4.5 million with 1,255 GEOs, bringing the total revenue to $5.2 million. As of February 19, 2026, the business maintained a $150 million credit facility, supported by no debt and over $12 million in cash as of the end of 2025.

By 2026, Gold Royalty Corp. (NYSE:GROY) anticipates more than a 60% increase in GEOs, with long-term growth anticipated until 2030.

David Garofalo, Chairman and CEO of Gold Royalty, stated the following:

“We are incredibly proud of the company we have built over the past five years. 2025 was an important inflection point in the history of the Company as we reported positive cash flow and Adjusted EBITDA, added a highly coveted royalty on BHP’s cashflowing Pedra Branca mine in Brazil and materially strengthened our balance sheet. Our 2026 and five-year outlook demonstrate the continued peer-leading growth in our asset portfolio, including over 60% year-over-year growth expected in 2026.”

Gold Royalty Corp. (NYSE:GROY), a precious metals-focused royalty company, was established in 2020 and is headquartered in Vancouver, Canada. The company is dedicated to providing financing solutions to the metals and mining industry, with a concentration on long-term production growth.

Click to continue reading and see the 5 best gold penny stocks to buy according to analysts.

Disclosure: None. Follow Insider Monkey on Google News.