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10 Best Gold Stocks to Buy According to Analysts

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In this article we are going to present the 10 best gold stocks to buy according to Wall Street analysts. Gold has experienced an extraordinary bull run followed by a sharp correction since the beginning of 2022, more than doubling in value overall. The precious metal started 2022 trading at around $1,800 per ounce and surged to an all-time high above $5,500 in January 2026 before pulling back to approximately $4,060 by late October 2026.

Gold prices initially tripled because of persistently high inflation and the freezing and potential seizure of Russian sovereign assets. When the G7 and European nations froze roughly $300 billion of the Central Bank of Russia’s foreign reserves in early 2022, it fundamentally changed how global central banks viewed the safety of Western financial systems. This “weaponization” of the U.S. dollar and the euro forced a systemic shift across global finance, though it operated alongside other reinforcing economic factors. Central banks realized that physical gold stored in their own vaults is the only truly sovereign asset with zero counterparty risk and total immunity to foreign sanctions. Gold isn’t the only precious metal that appreciated in value. You can see our article about the 7 Best Silver Mining Stocks to Buy here.

Gold is an asset and asset prices fluctuate in the short-run. Gold lost about 25% of its value since the end of February. Higher oil prices have been feeding inflation concerns since the end of February, reinforcing expectations that interest rates will stay elevated. High Treasury yields increase the opportunity cost of holding nonyielding bullion, while a firm dollar makes gold more expensive for overseas buyers.

Analysts remain divided over what follows. An October 27 Reuters poll lowered the average gold-price forecast to $4,495 per ounce but raised the 2027 annual-average forecast to $4,650. Standard Chartered’s Suki Cooper expects consolidation followed by recovery as attention returns to currency debasement and diversification away from the dollar.

Is Now a Good Time to Buy Gold?

Central-bank purchases and physical demand offer support, but restrictive monetary policy remains a headwind. BofA warned that weak physical demand could undermine prices and that ETF buying alone may not sustain the market. The outlook therefore depends partly on whether inflation pressures ease enough to change expectations for interest rates.

Yahoo Finance’s industry snapshot shows a 24.68% one-year gain versus 13.71% for the S&P 500. Over the same period, Dakota Gold gained 29.75%, while Coeur Mining fell 26.60%.

Dakota’s Richmond Hill development progress and Coeur’s Canadian mine ramp-ups present different investment tests. Meanwhile, Alamos’s expansion plans highlight why production growth must translate into cash after investment. Identifying the best gold stocks to buy according to analysts requires examining costs, funding, and valuation alongside consensus upside targets.

Our Methodology

For this article, we used a stock screener to identify gold mining and royalty and streaming companies. We then selected stocks with sufficient analyst coverage (analyst count greater than five) and at least 35% upside potential based on consensus analyst price targets reported on Financial Times, as of October 28, 2026. Finally, we ranked the selected stocks in ascending order of their upside potential.

#10 Wheaton Precious Metals Corp. (NYSE:WPM)

Current Share Price: $125.92

Target Price: $173.17

Upside Potential: 37.52%

Wheaton Precious Metals Corp. (NYSE:WPM) offers a different way to benefit from rising gold and silver prices: it funds mines upfront in exchange for the right to buy a share of future output at contractually agreed prices. Against an October 28 share price of $125.92, the consensus analyst target of $173.17 suggests 37.52% upside.

The bullish argument is that this streaming structure can capture rising metal prices without bearing most day-to-day mine operating costs. In Q2 2026, revenue climbed 85% to $929 million, net earnings reached $543 million, and operating cash flow was $650 million. The average realized gold-equivalent price rose 61%, while ounces sold increased 14%, showing that metal prices contributed substantially more to the revenue jump than volume growth.

There is a growth case beyond higher prices. Wheaton Precious Metals Corp. expects 860,000–940,000 gold-equivalent ounces of attributable production in 2026 and approximately 1.2 million by 2030. Its expanded Antamina silver stream and developing projects underpin that outlook. The Seeking Alpha values Wheaton at 26.48 times forward non-GAAP earnings, above the materials-sector median of 14.79 times but below its own five-year average of 36.57 times. Investors are therefore paying a premium for the streaming model and promised growth, rather than buying a conventional low-multiple miner.

That premium leaves room for disappointment. Wheaton Precious Metals Corp. deployed roughly $4.5 billion in upfront stream payments during Q2, including $4.3 billion for Antamina, leaving $1.9 billion in net debt and only about $100 million in cash at quarter-end. Project delays, weaker grades at existing mines, or lower metal prices could slow debt reduction. Our closer look at Wheaton’s near-doubling of profits alongside its shrinking cash balance explores that trade-off.

#9 Eldorado Gold Corporation (NYSE:EGO)

Current Share Price: $34.17

Target Price: $47.00

Upside Potential: 37.55%

Eldorado Gold Corporation (NYSE:EGO) offers a growth case built around turning major construction projects into producing assets. The $34.17 share price and $47.00 consensus analyst target imply 37.5% upside. Skouries produced its first copper-gold concentrate on September 8, and Eldorado announced completion of its permanent grid connection on September 28. That removes a specific obstacle identified on the Q2 earnings call, when management said generators could support initial commissioning but full energization was necessary for a stable ramp-up. Commercial production was still expected in Q4 2026, with life-of-mine annual output averaging 140,000 ounces of gold and 67 million pounds of copper.

The investment argument is that Skouries and McIlvenna Bay can add output while spending shifts away from construction, improving cash generation. BofA’s September 22 upgrade to Buy from Underperform reflected confidence after site visits and expectations for a meaningful free cash flow improvement in 2027. Eldorado Gold Corporation is trading at 10.08 times forward non-GAAP earnings, below the materials-sector median of 14.79 times and its own five-year average of 28.01 times. That discount could narrow if new production delivers the anticipated earnings growth, although the low multiple already depends on higher forecast profits.

The existing mines show why execution matters. Q2 revenue rose to $487 million as higher gold prices offset lower sales volumes, but operating cash flow declined to $150 million from $158 million. All-in sustaining costs reached $1,926 per ounce, while Eldorado Gold Corporation held roughly $1.76 billion of debt against $555 million of cash at June 30, 2026. First concentrate and grid power are milestones; consistent throughput, recoveries, and cash generation remain the financial tests. Our earlier coverage of Eldorado’s twin-project ramp-up risks explains why delays could postpone the expected payoff.

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