Long-term investors consider gold to be one of the most valuable and lucrative commodities. Gold prices increased dramatically between 1998 and 2008, hitting around $2,000 per ounce in 2012. Gold investments are an excellent inflation hedge, particularly when the national currency is falling in value. By 2024, gold production is expected to increase at a CAGR of 2.9 percent, reaching around 124.1 million ounces. China remained the world’s largest gold producer in 2020, accounting for nearly 11% of total worldwide output. Canada is home to some of the world’s largest gold mining enterprises.
Insider Monkey analyzes the list of the 15 best gold mining stocks to invest in. New Gold Inc. is ranked fifteenth. In the first quarter, the company produced 96,026 ounces of gold and sold nearly 91,800 ounces. With net earnings of $8 million and an EPS of $0.01, New Gold had a good first quarter. The third-largest gold mining firm in the world is AngloGold Ashanti Limited. Higher gold prices and the hastened refurbishment project of the company’s Obuasi mine in Ghana, which resulted in a 53 percent increase in production, drove the company’s good results. Gold Fields Limited reported revenue of nearly $1.7 billion, up 14 percent year over year. The company produced 541,000 ounces of gold, an increase of 0.7 percent over the previous quarter. Hecla Mining Business is a gold, silver, and other precious metals mining company based in the United States. The corporation has the greatest silver reserve in the United States and produces a third of the silver produced in the country. The company’s active mines are in Alaska, Idaho, and Quebec, Canada. Sibanye Stillwater Limited is the world’s largest platinum producer and the third-largest gold producer. The company’s success has remained stable over the years, with a year-over-year increase of 87 percent. It comes in at number eleven on our list of the best gold mining stocks to buy. Royal Gold, Inc. has inked a $100 million gold production contract with Ero Gold in Brazil. Alamos Gold is ranked eighth. The company recorded a net income of $55.2 million in the third quarter of FY21, up from $44.3 million the previous year. Franco-Nevada Corporation is a gold mining royalty and streaming firm based in the United States. In Q1 2020, the company sold 521,564 ounces of gold, accounting for 91 percent of total revenue. For more details, click 15 Best Gold Mining Stocks to Invest In.
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