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Best Gold Stocks to Buy Now (2024)
Top gold stocks in 2024 ranked by overall Zen Score. See the best gold stocks to buy now, according to analyst forecasts for the gold industry.

Industry: Gold
OverviewZen Score
PriceValuationFinancialsForecastEarnings & RevenueDividendsOwnershipTechnicals
Ticker
Company
Zen Score
Valuation Score
Financials Score
Forecast Score
Performance Score
Dividends Score
GFI
GOLD FIELDS LTD
51
43
57
67
30
60
AU
ANGLOGOLD ASHANTI (PTY) LTD
45
43
57
67
40
20
AEM
AGNICO EAGLE MINES LTD
44
29
57
44
30
60
GOLD
BARRICK GOLD CORP
43
43
71
22
20
60
IAG
IAMGOLD CORP
42
29
43
78
20
–

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Use Zen Score to quickly analyze stock fundamentals, even if you don't have a finance background. We run time-tested due diligence checks inspired by legendary investors like Warren Buffett, and score each company based on how many they pass/fail.

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Gold Stocks FAQ

What are the best gold stocks to buy right now in May 2024?

According to Zen Score, the 3 best gold mining stocks to buy right now are:

1. Gold Fields (NYSE:GFI)


Gold Fields (NYSE:GFI) is the top gold stock with a Zen Score of 51, which is 27 points higher than the gold industry average of 24. It passed 19 out of 38 due diligence checks and has strong fundamentals. Gold Fields has seen its stock lose -1.91% over the past year, overperforming other gold stocks by 10 percentage points.

Gold Fields has an average 1 year price target of $13.50, a downside of -17.93% from Gold Fields's current stock price of $16.45.

Gold Fields stock has a consensus Sell recommendation according to Wall Street analysts. Of the 2 analysts covering Gold Fields, 0% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a hold, while 50% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Anglogold Ashanti (NYSE:AU)


Anglogold Ashanti (NYSE:AU) is the second best gold stock with a Zen Score of 45, which is 21 points higher than the gold industry average of 24. It passed 18 out of 38 due diligence checks and has strong fundamentals. Anglogold Ashanti has seen its stock lose -16.2% over the past year, underperforming other gold stocks by -4 percentage points.

Anglogold Ashanti has an average 1 year price target of $31.00, an upside of 34.08% from Anglogold Ashanti's current stock price of $23.12.

Anglogold Ashanti stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 1 analyst covering Anglogold Ashanti, 100% have issued a Strong Buy rating, 0% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Agnico Eagle Mines (NYSE:AEM)


Agnico Eagle Mines (NYSE:AEM) is the third best gold stock with a Zen Score of 44, which is 20 points higher than the gold industry average of 24. It passed 16 out of 38 due diligence checks and has strong fundamentals. Agnico Eagle Mines has seen its stock return 12.02% over the past year, overperforming other gold stocks by 24 percentage points.

Agnico Eagle Mines has an average 1 year price target of $67.00, an upside of 3.01% from Agnico Eagle Mines's current stock price of $65.04.

Agnico Eagle Mines stock has a consensus Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Agnico Eagle Mines, 50% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the gold stocks with highest dividends?

Out of 14 gold stocks that have issued dividends in the past year, the 3 gold stocks with the highest dividend yields are:

1. Caledonia Mining (NYSEMKT:CMCL)


Caledonia Mining (NYSEMKT:CMCL) has an annual dividend yield of 5.73%, which is 4 percentage points higher than the gold industry average of 2.14%. Caledonia Mining's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Caledonia Mining's dividend has shown consistent growth over the last 10 years.

Caledonia Mining's dividend payout ratio of -233.3% indicates that its high dividend yield might not be sustainable for the long-term.

2. Newmont (NYSE:NEM)


Newmont (NYSE:NEM) has an annual dividend yield of 3.57%, which is 1 percentage points higher than the gold industry average of 2.14%. Newmont's dividend payout is not stable, having dropped more than 10% three times in the last 10 years. Newmont's dividend has shown consistent growth over the last 10 years.

Newmont's dividend payout ratio of -44.3% indicates that its dividend yield might not be sustainable for the long-term.

3. Agnico Eagle Mines (NYSE:AEM)


Agnico Eagle Mines (NYSE:AEM) has an annual dividend yield of 2.46%, which is the same as the gold industry average of 2.14%. Agnico Eagle Mines's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Agnico Eagle Mines's dividend has shown consistent growth over the last 10 years.

Agnico Eagle Mines's dividend payout ratio of 175.8% indicates that its dividend yield might not be sustainable for the long-term.

Why are gold stocks down?

Gold stocks were down -0.02% in the last day, and down -2.77% over the last week.

We couldn't find a catalyst for why gold stocks are down.

What are the most undervalued gold stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued gold stocks right now are:

1. Eldorado Gold (NYSE:EGO)


Eldorado Gold (NYSE:EGO) is the most undervalued gold stock based on WallStreetZen's Valuation Score. Eldorado Gold has a valuation score of 43, which is 29 points higher than the gold industry average of 14. It passed 3 out of 7 valuation due diligence checks.

Eldorado Gold's stock has gained 21.07% in the past year. It has overperformed other stocks in the gold industry by 33 percentage points.

2. Anglogold Ashanti (NYSE:AU)


Anglogold Ashanti (NYSE:AU) is the second most undervalued gold stock based on WallStreetZen's Valuation Score. Anglogold Ashanti has a valuation score of 43, which is 29 points higher than the gold industry average of 14. It passed 3 out of 7 valuation due diligence checks.

Anglogold Ashanti's stock has dropped -16.2% in the past year. It has underperformed other stocks in the gold industry by -4 percentage points.

3. Barrick Gold (NYSE:GOLD)


Barrick Gold (NYSE:GOLD) is the third most undervalued gold stock based on WallStreetZen's Valuation Score. Barrick Gold has a valuation score of 43, which is 29 points higher than the gold industry average of 14. It passed 3 out of 7 valuation due diligence checks.

Barrick Gold's stock has dropped -17.62% in the past year. It has underperformed other stocks in the gold industry by -6 percentage points.

Are gold stocks a good buy now?

51.72% of gold stocks rated by analysts are a buy right now. On average, analysts expect gold stocks to rise by 18.5% over the next year.

What is the average p/e ratio of the gold industry?

The average P/E ratio of the gold industry is 17.74x.
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