5 Gold Stocks To Buy In 2025

The price of gold has edged up near $3,000, and gold stocks are capitalizing. 2024 revenue, earnings and cash flow are strong in the sector, nearly across the board.

In this time of seemingly ample profits, how do you choose top gold stocks for your portfolio? Let’s answer that question below and meet five gold stocks with good potential for 2025 and beyond.

Methodology Used For These Gold Stock Picks

A comparative review of recent earnings in the gold sector might suggest there are only good investment choices out there. The thing is, gold prices may turn at some point. If that happens, profits will shrink.

You can’t avoid that possibility, but you can prepare for it. The first step is to set a conservative allocation for your gold stock exposure. The second step is choosing the right companies. Within and outside the gold sector, the best stocks for 2025 have healthy balance sheets, solid cash flow performance and good cost discipline.

This list starts that search by featuring the best gold stocks that meet the following screening criteria:

1. Debt/equity ratio below 0.5.
2. Average buy or strong buy rating from three or more analysts.
3. Operating margin above 25%.
4. Free cash flow (FCF) per share of $0.75 or more.
5. Dividend yield of 1% or more.

5 Gold Stocks to Buy In 2025

The table below introduces five top gold stocks that fit the parameters noted. The stocks are ordered by operating margin, highest to lowest. Metrics and ratings are from stockanalysis.com, unless noted otherwise.

For more diversification ideas, see best energy stocks and best growth stocks.

1. Royal Gold, Inc. (RGLD)

• Stock price: $150.44
• Debt/equity: 0.00
• Analyst rating: Buy
• Operating margin: 60.31%
• FCF/share: $6.49
• Dividend yield: 1.19%

Royal Gold Business Overview

Royal Gold does not mine, explore or produce gold directly. The company instead funds mining and exploration projects, sometimes as a lender and sometimes as an investor.

In the role of investor, Royal Gold acquires precious metal streams and royalty interests. Streams are options to purchase produced metals from a mine at an agreed price. Royalties are percentages of revenues generated by mines. These become revenue-producing assets for the company.

Why RGLD Stock Is A Top Choice

Gold miners typically offer leveraged exposure to gold prices. This means investors can get outsized returns from miners compared to direct gold investments—because miners’ profit margins can increase as gold prices rise.

Royal Gold delivers leveraged gold exposure without engaging directly in exploration and production. The financing, stream and royalties business model insulates the company and investors from mining risks such as unpredictable exploration and capital expenditure costs. It also provides more freedom for Royal Gold to deploy its capital strategically to balance risk and upside.

Not surprisingly, Royal Gold has the highest operating margin of this group, by a wide margin.

Royal Gold grew 2024 revenue and earnings by 19% and 39%, respectively. The company also reduced its debt balance to zero last year.

2. Barrick Gold Corporation (GOLD)

• Stock price: $18.02
• Debt/equity: 0.16
• Analyst rating: Buy
• Operating margin: 36.82%
• FCF/share: $0.76
• Dividend yield: 2.21%

Barrick Gold Corporation Business Overview

Barrick Gold produces gold and copper. Portfolio assets include reserves and exploration projects in 18 countries, including U.S., Tanzania, Canada, Mali and Argentina.

Why GOLD Stock Is A Top Choice

Reuters recently reported that Barrick negotiated a settlement to end a long-running dispute over mines in Mali, West Africa. Activities at that location were paused, reducing Barrick’s production numbers. The company had lowered its annual production forecast by 300,000 ounces due to the mine closure. A reopening at historically high gold prices should improve Barrick’s revenue and earnings performance.

Barrick Gold has the highest operating margin among the miners on this list, edging out Agnico Eagle Mines by about 50 basis points. GOLD also has the lowest forward PE ratio on this list at 12.24. Newmont is the next-closest option at 12.44.

In 2024, Barrick Gold increased its net earnings 69% and doubled its free cash flow. The company also repurchased $498 million of its shares in 2024.

3. Agnico Eagle Mines Limited (AEM)

• Stock price: $96.45
• Debt/equity: 0.06
• Analyst rating: Buy
• Operating margin: 36.28%
• FCF/share: $4.27
• Dividend yield: 1.66%

Agnico Eagle Mines Business Overview

Agnico Eagle Mines explores, develops and produces gold, silver, zinc and copper. The company operates mines in low-risk areas of Canada, Australia, Finland and Mexico.

Why AEM Stock Is A Top Choice

In 2024, the AEM team was focused on improving profitability and financial health by cutting costs and reducing debt. These efforts were successful. The company substantially improved its operating margin to a competitive 36.3% and lowered net debt by $1.3 billion. These improvements coupled with AEM’s track record of revenue and free cash flow growth make a good case for investing.

Other 2024 milestones for AEM include record gold production and record free cash flow. The company also completed share repurchases of $20 billion and declared a quarterly dividend of $0.40.

4. Newmont Corporation (NEM)

• Stock price: $42.93
• Debt/equity: 0.30
• Analyst rating: Buy
• Operating margin: 31.63%
• FCF/share: $2.63
• Dividend yield: 2.29%

Newmont Corporation Business Overview

Newmont Corporation produces gold, copper, silver, zinc and lead via assets in Africa, Australia, Latin America, Caribbean, North America and Papua New Guinea.

Why NEM Stock Is A Top Choice

Newmont is the largest company on this list, with a market capitalization just higher than AEM’s. Even so, the NEM stock price is about 25% below its October 2024 peak. At the current price, NEM is more of a value play for gold investors.

Investors drove the stock price down after NEM missed third-quarter EPS expectations. Analyst downgrades followed, and the company has struggled to regain its value since.

The latest earnings report was positive, however. In 2024, Newmont reported $2.9 billion in free cash flow and a record $3.4 billion in net income. Reported EPS of $1.40 exceeded expectations by 29%.

Newmont pays a good dividend yield of 2.29% and actively repurchases shares. 2024 share repurchases totaled $1.2 billion.

5. Kinross Gold Corporation (KGC)

• Stock price: $10.72
• Debt/equity: 0.21
• Analyst rating: Buy
• Operating margin: 27.68%
• FCF/share: $1.04
• Dividend yield: 1.14%

Kinross Gold Corporation Business Overview

Kinross is a gold mining company with projects in the United States, Canada, Brazil, Chile and Mauritania.

Why KGC Stock Is A Top Choice

Kinross made good progress strengthening its balance sheet in 2024. The company repaid $800 million in term debt, plus another $200 million in early 2025. Like other miners on this list, Kinross has delivered solid results on high gold prices. 2024 revenue rose 21% from the prior year, and net earnings more than doubled.

For 2025, Kinross is guiding slightly lower gold equivalent production and higher costs. This is one area of concern for investors. If gold prices retreat dramatically, net earnings will disappoint. Analysts expect revenue and EPS growth of 9% to 10%, however.

Bottom Line

Gold stocks are thriving on record-high gold prices. The ones that will keep delivering to your portfolio have low leverage, strong operating models, good cash flow performance and cost discipline.

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