We recently published a list of 13 Best Precious Metals Stocks to Buy According to Analysts. In this article, we are going to take a look at where Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) stands against other best precious metals stocks to buy according to analysts.
Gold prices set new records in early 2025, driven by growing interest in gold as a safe haven asset amid rising tariffs and trade wars between the United States and China. The precious metal exceeded $3,000/oz recently. Lately, gold is acting both as a hedge against inflation and a competitor to yield-earning assets like the US Treasurys. This has created what analysts call a “smile profile,” where gold tends to go up whether US yields rise or fall. Natasha Kaneva, head of Global Commodities Strategy at J.P. Morgan, commented:
“We maintain our multi-year bullish outlook on gold. From a macro perspective, a universal tariff scenario would likely supercharge the broad price effects for precious metals. Boosted economic growth concerns and higher inflation risks could continue to fuel strong investor demand for gold.”
Similarly, Jim Wyckoff, a senior analyst at Kitco Metals, said on April 15:
“Traders are waiting for the next major fundamental development to drive the gold market, but the charts remain bullish. There’s still safe-haven demand.”
In line with that, European private banking firm Commerzbank wrote in a note to investors:
“The rise in the gold price is also partly in line with the continuing weakness of the dollar, which points to a gradual erosion of the U.S. currency’s status as a safe asset – gold is likely to be an alternative for many USD investors.”
Goldman Sachs has lifted its gold price forecast from $3,300 to $3,700 per ounce by the end of 2025. This forecast is supported by higher central bank purchases and increased ETF inflows amid growing global economic uncertainty. President Trump’s unpredictable trade policies are the basis for this market upheaval. While gold remains a haven in volatile times, it lacks income-generating potential and incurs storage costs. Still, mining stocks are also gaining appeal, with lower energy costs boosting profits.
According to the Silver Institute, the silver market is moving towards its fifth consecutive year of a supply deficit in 2025, with demand exceeding supply again. Industrial use, especially in green tech, electric vehicles, and electronics, is driving much of this demand and is expected to reach a new record this year. Prices also rebounded in early 2025, partly due to growing uncertainty around President Trump’s potential tariff policies, which have resulted in more short covering and deliveries of silver into CME warehouses. At the same time, ongoing global and economic concerns have helped push investors back toward safe-haven assets like silver.
Still, silver investment has faced some challenges. Ongoing concerns about China’s economy have held back demand, and the persistently high gold-to-silver ratio suggests that investors still favor gold. Overall, silver demand is expected to stay steady at around 1.2 billion ounces. While industrial and retail investment will rise, jewellery and silverware demand, especially in India, is expected to fall due to high local prices.
Our Methodology
For this article, we searched multiple credible websites to compile a large list of US-listed precious metals stocks. Next, we manually searched for the average upside potential of each stock and selected 13 stocks with the highest values. The list below is ranked in ascending order of the upside potential as of April 16. We have also mentioned the hedge fund sentiment as per Insider Monkey’s database of Q4 2024.
Why are we interested in the stocks that hedge funds pile into? 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).
Drills extracting gold from a gold mine, revealing the company’s gold mining operation.
Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL)
Number of Hedge Fund Holders: 7
Average Upside Potential: 34.92%
Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) is a Jersey-based gold mining company that owns a major stake in Zimbabwe’s Blanket Mine, as well as additional gold projects in Zimbabwe. On December 16, 2024, Maxim Group started coverage of CMCL with a Buy rating and a price target of $17. According to the investment firm, the company is on the path to solid growth, with gold production projected to reach 85,000 ounces by 2026 and a long-term goal of 200,000 ounces annually. The company plans to use its cash flow for mine development, new projects, and maintaining its 5.4% dividend.
Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) achieved a new record at its Blanket Mine in Q1 2025, producing 18,671 ounces of gold, exceeding both last year’s 17,050 ounces and the last Q1 high set in 2022. The mine also milled over 201,000 tonnes of ore, exceeding expectations by 13.4%, which led to a growing surface stockpile as production outpaced milling capacity. The company is still on track to meet its 2025 gold production target of 74,000 to 78,000 ounces.
According to Insider Monkey’s Q4 database, 7 hedge funds held stakes in Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL), compared to 9 funds in the prior quarter. William B. Gray’s Orbis Investment Management was the largest stakeholder of the company, with 782,501 shares valued at $7.36 million.
Overall, CMCL ranks 10th on our list of best precious metals stocks to buy according to analysts. While we acknowledge the potential of precious metals stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than CMCL but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
