Hot or Not, Stock Market Edition: 12/26/2025

Happy holidays! Today’s list is all about a megahot sector: Gold. The rally shows no signs of flagging, and here are the stocks we’ll be watching as the clock ticks over into 2026:

• Orla Mining (ORLA): Top percentile ratings, dividend, multiple catalysts
• Centerra Gold (CGAU): Fortress balance sheet, analyst upgrades, earnings beat
• Caledonia Mining (CMCL): Monster returns, transformational Bilboes project economics
• Aura Minerals (AUGO): Explosive growth, production surge, Goldman's bullish FCF projections

P.S. Speaking of hot — our Zen Investor Editor in Chief believes THESE 3 stocks could perform better than NVDA in 2026. Get the tickers here

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🔥 HOT: Centerra Gold (CGAU) 

Despite some production headwinds in mid-2025, this diversified gold producer has emerged as a compelling value play with improving fundamentals and strengthening analyst sentiment. Here’s why:

• The Catalyst Stack: Centerra's Mount Milligan and Öksüt mines continue generating robust cash flow, while the company maintains zero debt and $522 million in cash — representing 23% of its market cap. Recent Q3 earnings showed resilience, with EPS of $0.33 beating consensus estimates of $0.22 by $0.11. This self-funded growth model enables advancing multiple projects without shareholder dilution. Oh, and the 2.1% dividend yield sweetens the deal for income investors.
• Zen Rating Highlights: Centerra has an overall A rating and scores in the 98.89 percentile — virtually tied with ORLA as one of the top-rated gold stocks. The stock also has A grades for Momentum and Safety, plus solid B grades across Value, Growth, Sentiment, and Financials. 

🔥 HOT: Caledonia Mining (CMCL) 

This stock has been quietly compounding shareholder value for years — and 2026 is shaping up as a breakout year. This small-cap producer offers a rare combination: a producing asset with expansion potential, a developing project with world-class economics, and management with a 20-year track record. Here’s why it’s hot right now: 

• The Catalyst Stack: The big news is the Bilboes Gold Project feasibility study completed November 25, 2025, confirming single-phase development delivering 1.55 million ounces over 10.8 years with first production in late 2028. The economics shine: a post-tax IRR of 32.5% and AISC of $1,061/oz. Meanwhile, the flagship Blanket Mine in Zimbabwe continues delivering, with Q3 EPS of $1.139 beating consensus by $0.099.
• Zen Rating Highlights: Caledonia earns an A (Strong Buy) rating, placing it in a tier of stocks that have historically delivered 32.52% annual returns. Component Grades include As for Value and Momentum, B's for Growth and Sentiment.  

🔥 HOT: Orla Mining (ORLA)

After selling Kinross Gold (KGC) for a nearly 140% gain from the Zen Investor portfolio, we're back in the gold mining space with an even more compelling pick: Orla Mining (ORLA). This mid-cap gold miner sits in the sweet spot between established producers and speculative juniors — and it's our top gold pick heading into 2026. Here’s why:

• The Catalyst Stack: Orla just launched an inaugural quarterly dividend and recently unveiled high-grade oxide gold discoveries at its South Carlin Complex in Nevada. The South Railroad project is advancing with a feasibility study expected early Q1 2026, targeting first gold production by 2028. Meanwhile, the Musselwhite Mine acquisition is already paying off — contributing 17,786 ounces in its first month and targeting 70,000–80,000 ounces annually by 2026.
• Awesome Forecast: While Cosmo Chiu of CiBC is the only analyst we track that currently rates ORLA, their rating is extremely bullish, forecasting about 87% potential upside for ORLA in 2026. 
• Zen Rating Highlights: Not only does Orla Mining have an overall A (Strong Buy) rating, but it ranks in the 98.60 percentile of stocks we track — it’s at the very top of the small-to-mid cap gold universe. Looking at the Component Grades, it has an A for Momentum; it also ranks in the top 6% of stocks we track for Financials, reflecting superior operational efficiency.  

🔥 HOT: Aura Minerals (AUGO) 

Here’s the wild card — a rapidly growing mid-tier producer executing an aggressive expansion across Latin America. While it's the riskiest pick, it also offers the highest potential returns for investors willing to embrace volatility. Here’s what’s up: 

• The Catalyst Stack: Aura upgraded 2025 production guidance to over 600,000 gold equivalent ounces, up from 450,000 GEO, reflecting recent acquisitions and expansion projects. The centerpiece is Era Dorada in Guatemala: 1.75 million GEO in reserves, AISC of $1,178/oz, and after-tax NPV of $2.17 billion at $4,200/oz gold. Borborema mine in Brazil achieved commercial production in September, selling over 10,000 ounces since startup. The 3.8% dividend yield is the highest in this group, though the company reinvests heavily in growth projects.
• Zen Rating Highlights: Aura holds an A (Strong Buy) rating, actually ranking in the top 3% of the 4600+ stocks we track. Component Grades shine in Growth (A) and Momentum (A), reflecting rapid expansion and stock performance. 

What to Do Next?

• 77 Best Stocks NOW! >
• See All “A” Rated Stocks with +32.52% Average Annual Return >
• 2 New Stocks to Buy from Steve Reitmeister >

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