10 Best Gold Stocks to Buy According to Analysts

#8 IAMGOLD Corporation (NYSE:IAG)

Current Share Price: $17.08

Target Price: $24.99

Upside Potential: 46.31%

IAMGOLD Corporation (NYSE:IAG) traded at $17.08 on October 28 against a consensus target of $24.99, indicating 46.31% upside. The bullish case is a transition from a capital-intensive mine buildout toward a producer able to fund growth and return capital from operating cash flow. In Q2 2026, the company produced 188,100 attributable gold ounces, generated $445.1 million in operating cash flow, and repaid the remaining $100 million drawn on its revolving credit facility. Freedom Broker initiated coverage at Buy on October 7, arguing that rising Canadian output and better costs could turn IAMGOLD Corporation into a stronger cash generator; it trimmed its target from $23 to $22 on October 22 but kept the rating.

The main catalyst for IAMGOLD Corporation is Côté Gold in Ontario. An October 21 operational update showed 64,400 attributable ounces produced in Q3, slightly below Q2’s 67,300, but September processing averaged 37,100 metric tons per day, above the plant’s 36,000-ton daily nameplate capacity. Management expects higher fourth-quarter output and is preparing an updated Côté-Gosselin mine plan based on 20.3 million measured and indicated resource ounces on a 100% basis. Our earlier report on the 12% expansion in Côté’s mineral resource base explains the scale of that longer-term option.

IAMGOLD Corporation trades at 8.22 times forward non-GAAP earnings, materially below the 14.79-times materials-sector median. The multiple is attractive only if higher Côté throughput translates into sustained lower unit costs and distributable cash. Q3 recoveries at the mine slipped to 90% from 93% in Q2, and management expects 2026 Côté production near the lower end of its range. Energy costs and royalties that rise with gold prices also temper the margin outlook.

#7 Alamos Gold Inc. (NYSE:AGI)

Current Share Price: $31.18

Target Price: $46.00

Upside Potential: 47.53%

Alamos Gold Inc. (NYSE:AGI) is aiming to combine a larger production base with lower unit costs as its Canadian and Mexican projects advance. At a $31.18 share price, the $46.00 consensus target implies 47.5% upside. Its plans target approximately one million ounces of annual production by 2030, supported by the Island Gold District expansion, Lynn Lake, and PDA. Island Gold offers operating evidence behind that ambition: district production reached a quarterly record of 67,500 ounces in Q2, with underground mining rates averaging a record 1,550 metric tons per day.

The new shaft, expected to be commissioned in Q1 2027, should support higher underground mining rates, while the Magino mill expansion is scheduled for Q1 2028. More high-grade underground ore and greater processing capacity could spread costs across additional ounces. Alamos Gold Inc. also ended Q2 with $636.9 million in cash, giving it a cushion to fund development. The estimates put the shares at 13.62 times forward non-GAAP earnings, modestly below the materials-sector median of 14.79 times and well below Alamos Gold Inc.’s five-year average of 22.95 times. The discount is potentially attractive if the production and cost improvements arrive.

Those improvements follow a difficult operating period. A June seismic event at Young-Davidson and slower gold recovery at La Yaqui Grande contributed to a cut in 2026 production guidance to 510,000–560,000 ounces. All-in sustaining cost guidance rose to $1,775–$1,875 per ounce amid lower output and higher labor and contractor expenses. Q2 revenue rose 36% to $594.1 million even as ounces sold declined, showing how much stronger gold prices supported results. Reported non-GAAP free cash flow of $143.5 million also excluded $92.3 million spent retiring legacy hedges. Our examination of Alamos’s expansion plans and cash conversion explores whether the growth program can deliver more cash after investment.

#6 Kinross Gold Corporation (NYSE:KGC)

Current Share Price: $23.00

Target Price: $34.00

Upside Potential: 47.83%

Kinross Gold Corporation (NYSE:KGC) has a consensus analyst target of $34.00 against an October 28 share price of $23.00, implying 47.83% upside. Bulls see a cash-generative producer whose two flagship mines can carry the business through operational setbacks elsewhere. Paracatu and Tasiast remain the company’s largest, lower-cost assets. In Q2 2026, Kinross produced approximately 492,000 gold-equivalent ounces and generated $727 million in attributable free cash flow; it ended June with about $1.9 billion of net cash. That financial cushion matters because the company has since revised its production outlook downward.

On September 23, Kinross Gold Corporation cut expected 2026 and 2027 output to roughly 1.84 million–1.86 million gold-equivalent ounces annually after severe weather and recovery problems at La Coipa and mining challenges at Round Mountain. It also lifted 2026 all-in sustaining cost guidance to $1,850–$1,900 per ounce. CIBC subsequently cut its target to $34 from $50 while retaining Outperformer, and Bank of America reduced its target to $32.25 from $35 while maintaining Buy. The bullish case rests less on uninterrupted production growth than on strong cash flow, Paracatu, and Tasiast’s resilience, and management’s decision to increase its 2026 shareholder-return target to 50% of free cash flow.

Estimates show 9.2 times forward non-GAAP earnings, versus 14.79 times for the materials sector and Kinross Gold Corporation’s five-year average of 13.88 times. That discount is more persuasive if output stabilizes and gold margins remain strong; lower grades, further cost inflation, or a gold-price retreat would weaken the earnings supporting it. Why did Kinross shares fall sharply despite elevated gold prices? Our earlier coverage examines the operational warning behind the apparent bargain.

#5 Pan American Silver Corp. (NYSE:PAAS)

Current Share Price: $41.66

Target Price: $65.00

Upside Potential: 56.02%

Pan American Silver Corp. (NYSE:PAAS) combines large silver exposure with meaningful gold production. At an October 28 share price of $41.66, the $65.00 consensus analyst target implies 56.02% upside. Bulls point to a business generating cash today while developing longer-life assets. In Q2 2026, Pan American produced 6.5 million attributable silver ounces and roughly 166,000 gold ounces, generating $344 million in attributable free cash flow, including its share of Juanicipio. The company returned $300 million through dividends and repurchases during the quarter, indicating that stronger precious-metal prices are already reaching shareholders.

The longer-term argument centers on reserve replacement, the Juanicipio stake and the planned La Colorada Skarn expansion. In September, Pan American Silver Corp. reported approximately 511.1 million ounces of silver in proven and probable reserves and said its operating mines replaced more than the silver extracted. Its La Colorada operation added 3.5 million reserve ounces net of depletion. Our analysis of the expanded reserve base asks how many of those ounces represent economically stronger mines rather than acquisitions or more generous metal-price assumptions.

There are qualifications to the upside case. Pan American Silver Corp. now expects 2026 gold output near the low end of its 700,000–750,000-ounce guidance range after issues at Jacobina and El Peñón. More than half of reported silver reserves sit at Escobal, which remains on care and maintenance, so reserve ounces should not be confused with immediate revenue. Estimates place Pan American at 11.97 times forward non-GAAP earnings, below the 14.79-times materials-sector median. That discount offers some cushion, but its value depends on production recovery, development spending, and margins holding up if metals prices soften.