5 best gold stocks to buy for Q1 2024

If you are looking for a golden investment opportunity, investing in a gold company could be profitable. On this page, we list the top gold stocks and explain what gives them an edge over the competition.
By:  & 
Updated: Nov 30, 2023
Listen

Trade global markets with our top-rated broker, Interactive Brokers.

8/10
Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA Register Entry Number 208159. Products are only covered by the UK FSCS in limited circumstances.
Visit site

This page lists the best stocks in the gold industry for the year ahead and explains why we are excited about them. In addition, we’ve summarised the best trading platforms to use to get them and how to make sure your investment experience is as good as it can be. 

What are the top gold stocks to buy?

Copy link to section

The table below ranks the best gold stocks by how good an investment we think they’re going to prove. You can follow the links in the table to find their current share price, or scroll down to learn more about each one.

#Stock symbolCompany nameTrade now
1NEMNewmont Corporation
Trade NEM
Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA Register Entry Number 208159. Products are only covered by the UK FSCS in limited circumstances.
2GOLDBarrick Gold Corporation
Trade GOLD

eToro offers real assets only, no CFD products. eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation.

3FNVFranco-Nevada Corporation
Trade FNV

eToro offers real assets only, no CFD products. eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation.

4WPMWheaton Precious Metals Corporation
Trade WPM

eToro offers real assets only, no CFD products. eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation.

5AULGFAngloGold Ashanti Limited
List chosen by our team of analysts, updated February 2024.

Scroll down to find out more information about each of these gold stocks and for more information about the gold space in general.

1.) Newmont Corporation (NYSE: NEM)

Copy link to section

Incorporated in 1921, Newmont Corporation is the world’s largest gold mining company. With gold mines in Colorado, Ontario, Nevada, Mexico, Australia, the Domincan Republic, Ghana, Peru, Argentina and Suriname, the company churns in the region of 6 million ounces of consolidated gold production and over $11 billion of revenue per year.

The reason Newmont os on our list is because of its huge, diversified portfolio, and because it has plenty of cash in its treasury, it has the potential to conduct further mergers and acquisitions in the future and create growth. 

In the last 5 years, Newmont Mining’s stock price has increased drastically, and it has managed to do this while maintaining a solid dividend of over 3%. With a market cap of over $50 billion, Newmont has the value we are looking for in a gold major with the growth potential one might expect to find in a gold junior. 

Sign-up & trade Newmont Corporation
Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA Register Entry Number 208159. Products are only covered by the UK FSCS in limited circumstances.

2.) Barrick Gold Corporation (NYSE: GOLD)

Copy link to section

Barrick Gold is a major gold mining company that produces gold and copper from 16 assets in 13 countries. Founded in 1983 and headquartered in Toronto, the company employs over 18,000 workers and produces around 5 million ounces of gold and $9 billion in revenue per annum. 

The company’s share price was performing extremely well until the COVID-19 crisis, which severely hampered its operations around the world. Since lockdowns have come to an end, Barrick Gold has experienced a resurgence, and its stock price is now firmly locked on an upward trajectory. 

The main reason Barrick is on our list is that it also produces a significant amount of silver and copper, giving it a degree of diversification that isn’t present with all gold mining stocks. Though its <1% dividend yield is not the best around, it is a nice bonus for a growing major gold stock with the capacity to deliver returns. 

Sign-up & trade Barrick Gold Corporation

76% of retail CFD accounts lose money. Your capital is at risk.

3.) Franco-Nevada Corporation (NYSE: FNV)

Copy link to section

Franco-Nevada has been around in some form since 1983, though its current incarnation was created in 2002 when it was acquired by Newmont. In 2007, Newmont spun off Franco-Nevada via an IPO

The company now has royalties and streams on almost 300 royalties, two-thirds of which are precious and base metals assets and one-third in oil and natural gas. These assets create around $1 billion in revenue per year and this has grown the company’s market cap to over $30 billion. 

The company’s stock price has performed well in the last 5 years, though the main reason it is on our list is because it offers de-risked exposure to gold. This is because its revenue streams are spread across hundreds of assets, and it also takes on no exploration or development expenditure and risk. 

Sign-up & trade Franco-Nevada Corporation

76% of retail CFD accounts lose money. Your capital is at risk.

4.) Wheaton Precious Metals Corporation (NYSE: WPM)

Copy link to section

Founded in 2004 and headquartered in Vancouver, Wheaton Precious Metals is one of the world’s largest precious metals streaming company, and it operates multinationally. The company has streaming agreements on over 20 operating gold and silver mines.

With a market cap of over $19 billion, Wheaton has grown quickly to become a solid performer, and its stock price has consistently grown for much of the past 5 years. It also offers a small dividend to sweeten the deal for investors.

The reason Wheaton has secure a spot on our list is because we feel it is the best option in its class: gold and precious metals streaming. The company has proven to be consistently profitable, and further streams could unlock even more value. 

Sign-up & trade Wheaton Precious Metals Corporation

76% of retail CFD accounts lose money. Your capital is at risk.

5.) AngloGold Ashanti Limited (OTCMKTS: AULGF)

Copy link to section

Formed in 2004 via the merger of AngloGold and the Ashanti Goldfields Corporation, AngloGold Ashanti is a large gold mining player with over 20 operations spread across 4 continents. The company produces over $4 billion in revenue from its over 3 million ounces of gold production per annum. 

In the last few years, the company’s stock price has found a fairly consistent level, and its market cap now stands at over $9 billion. The company also produces silver and uranium oxide, which are profitable by-products. 

The reason AngloGold Ashanti is on our list is because of the location of its assets. They are primarily based in Africa, which is a low-cost, underexplored region with massive potential for gold mining companies to locate new, high-grade resources.

Sign-up & trade AngloGold Ashanti Limited

Where to buy the best gold shares

Copy link to section

If you want to buy the best gold stocks now, this is most easily done via an online stockbroker. These convenient services allow you to control your entire portfolio from the comfort of your desktop or handheld device, and they often have low fees. The table below includes some of our favourite options offering a range of gold stocks.

Sort by:

1
$ 10
Best offer
10
Up to $240 bonus!
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
:
CySEC, FCA

eToro offers real assets only, no CFD products. eToro securities trading offered by eToro USA Securities, Inc. (‘the BD”), member of FINRA and SIPC. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the BD.

2
$ 100
Best offer
9.9
Trade +2000 CFDs on Shares, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads with up to 1:5 leverage
:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3
$ 0
Best offer
9.7
Diverse stock selection providing investors with a diverse array of options for their portfolios.
Advanced trading tools aiding in executing trades with precision in the dynamic stock market.
Easy portfolio management.
:
ACH, Bank Wire, Check
:
CFTC, FCA, FINRA, IIROC, NFA, NYSE, SIPC
Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA Register Entry Number 208159. Products are only covered by the UK FSCS in limited circumstances.

What is a gold stock?

Copy link to section

It is a publicly-traded company that is involved in the exploration, development and production of gold via mining or royalty and streaming agreements on gold assets. 

Explorers acquire a promising land package and market it to increase their share price. They are then either taken out by a more senior mining company or on occasion, they begin developing the mine.

Developers de-risk and build infrastructure at gold mining sites. They often produce formal documentation like Preliminary Economic Assessments, Preliminary Feasibility Studies, Feasibility Studies, and Definitive Feasibility Studies to evidence the scale and grade of the gold resource.

Producers take gold mining assets into production and attempt to create a consistent amount of gold, which often comes with byproducts when the raw ore is processed. 

Royalty companies make arrangements to help finance gold producers in return for a percentage of revenue on each ounce of gold that comes out of the ground. 

Are gold shares a good investment?

Copy link to section

Investing in gold stocks allows exposure to the gold market without actually having to hold physical gold. Shares in gold mining companies and royalty companies offer the potential to benefit from rising gold prices. Top gold stocks like Newmont and Barrick Gold are leading gold producers and popular investments for investors looking to profit from mining operations.

However, gold stocks carry risks beyond just gold prices. Mining companies’ performance is affected by mining costs, strong balance sheet, production volumes, labour issues, environmental regulations, and management competence.

Buying shares in individual gold stocks generally requires researching companies’ operations and risk factors. Many investors prefer spreading risk through exchange traded funds holding baskets of gold stocks or mining companies diversified across other metals.

In times of uncertainty, gold offers a safe haven and gold stocks may outperform the broader market. But when economic sentiment improves, gold stocks often lag. For those bullish on gold over the long-term, top gold mining stocks offer direct exposure, leveraged upside potential, and dividend income.

When choosing from a range of gold producers, make sure to pay close attention to the all-in sustaining cost, or AISC. In an ideal world, this will be below the magic $1000/oz figure, giving the mine strong profitability, even in depressed market conditions. For the latest gold news, click any of the links below.

Sign up to a broker to buy gold stocks

Latest gold news

Copy link to section
Berkshire Hathaway Inc says its operating earnings increased significantly on the back strength in its insurance business in the fourth quarter. The stock has gained a little under 30% since late October. Berkshire’s operating earnings up 28% The conglomerate holding company of the legendary investo
Artificial Intelligence (AI) was the main topic in the financial market after the strong Nvidia earnings. In the aftermath, most AI stocks like Soundhound, Nvidia, and Arm Holdings were among the best performers. AI tokens like SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) soared
The crypto industry was mixed during the weekend as the fear and greed index remained in the greed zone. Bitcoin, the biggest coin in the world, remained unchanged at $51,000. Similarly, Ethereum remained slightly below $3,000. There were some big movers though. As I wrote earlier today, DEX tokens
Wall Street has been amazed by the recent surge in technology stocks like Nvidia and Super Micro Computer. All these stocks have surged to a record high because of the ongoing demand for artificial intelligence (AI) globally. But other companies are doing well too. A closer look shows that some priv
The FTSE 100 and FTSE 100 indices had an extremely busy week as companies like Rolls-Royce, Barclays, Standard Chartered, and HSBC published their financial results. Despite these key events, the two indices continued to underperform their American peers as the S&P 500 and Nasdaq 100 indices sur

Risk disclaimer
Charlie Hancox
Financial Writer
Charlie is a Financial Writer for Invezz. He covers commodities, cryptocurrencies, and breaking news. Prior to joining Invezz he helped grow Crux Investor into the fastest-growing... read more.
Jayson Derrick
Senior Editor of News
Jayson was the Lead News Editor at Invezz until 2023 overseeing the team of reporters, analysts and strategic direction of news content. He traded stocks professionally... read more.