An Insider's Guide to the Top Performing Gold Stocks of 2023

gold stocks
September 26, 2023
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Technology stocks, check. Health care stocks, check. Gold stocks, nothing.

You're not alone. Research shows that only 10.8% of US citizens own gold.

Some people don't invest in gold because they believe gold stocks are risky and volatile, requiring due diligence and heavy research. Others have never been taught the value of owning gold, so they've pursued other types of stocks instead.

Gold is an important component of any diversified portfolio, and buying gold stocks is one of the easiest ways to invest in it. The benefits of gold stocks are their stability in an uncertain market and their strong potential for growth long-term. Let's explore the top-performing gold stocks of 2023.

Royal Gold

Purchasing Royal Gold (RGLD) stocks is one of the top ways to invest in gold. That's because this company's asset portfolio is expanding. It also has high profit margins with the following types of mine assets:

  • Mount Milligan mine
  • Penasquito mine
  • Cortez mine

This unique company doesn't operate mines. It acquires and oversees streams and royalties on metals like gold.

Royalties are payments made to people based on the profits or revenues generated from mineral projects. Streams are where people make upfront payments or deposits to buy pre-agreed percentages of mines' production at pre-determined or defined prices. RGLD's approach in these areas has led to the following benefits for investors:

  • High margins
  • Diverse exposure to various regions and projects
  • Low capital expenses

The company experienced decreased growth in 2022 but reported strong operating metrics that year. Its margin was higher than 78%, and it produced more than $466 million in earnings before interest, taxes, depreciation, and amortization (EBITDA). EBIDTA is used to indicate a company's overall profitability.

RGLD had more than 220 stream and royalty interests in June 2023. Thirty-two were producing, and 19 were in development. The remainder were in the beginning exploration or evaluation stages.

Expect RGLD to continue benefiting from its portfolio development efforts, including acquiring other stream and royalty interests. Choose this gold stock if you want high-margin, growing stocks this year. RGLD's share price in late September 2023 was more than $110.

Kinross Gold

Kinross Gold (KGC) is another 2023 top-performing gold stock. This company's success can be attributed to its geographical diversity.

KGC's shares increased by more than 17% between January and September 2023. The company's operations at eight mines in Russia, the Americas, and West Africa have been strong. The company's financial results during the year's first two quarters were strong specifically due to high African and Brazilian gold production levels.

Its production levels were record-breaking in Mauritania, Africa, in the first quarter. Paracatu and Tasiast, Brazil, mining assets were historically high in the second quarter.

KGC is the best option for investors seeking a gold stock company with a broad global reach. It's also ideal for investors looking for inexpensive stocks since its share price was under $5 in late September 2023.

Alamos Gold

Alamos Gold (AGI) is another promising choice for people interested in investing in gold. The company's gold production in 2023 has been higher than anticipated. This Canadian-based producer usually generates income through the following four American mines:

  • Ontario, Canada: Island Gold and Young-Davidson mines
  • Sonora, Mexico: Mulatos mine
  • Manitoba, Canada: Lynn Lake project

AGI experienced a growth slowdown in 2022 but has exceeded analysts' expectations for 2023. It delivered strong financial and operational results during 2023's first two quarters.

Quarter one yielded more than 128,000 gold ounces for AGI, increasing the company's revenues by more than 36% compared with 2022. Second-quarter gold production reached 136,000 ounces.

Shares at AGI have risen by more than 19% since early 2023. Choose AGI if you're looking for a company with a robust growth record and long-term projects. Their share price in late September 2023 was almost $12.

SSR Mining

This leading gold company primarily mines in Argentina, the US, and Canada. It has posted positive earnings results since 2016 and has experienced consistent sales gains for several years.

The company experienced a sales dip in 2022, but its sales trajectory overall has been positive. Their share price has ranged from $17 to $33 since the middle of 2020, and the divided amount is two percent. Make this your gold stock company if you're seeking a reliable company with a strong success track record.

Franco-Nevada Corp.

Franco-Nevada (FNV) is another winning gold streamer. The Toronto, Canada, company doesn't perform gold mining. It purchases contracts to sell producers' gold output instead.

FNV's earnings have increased annually since 2018. Its sales have also increased yearly during the past decade. Industry analysts believe that the company's growth will be moderate moving forward.

Investors have paid between $106 and $169 for a share of this stock since 1920 and received one percent dividends. FNV is the best gold stock company option if you want an excellent long-term investment with regular cash flow and rising sales and share prices.

Gold Fields Ltd.

Gold Fields is a South African gold mining company with operations in Peru, Australia, Ghana, and South Africa. It's a steady gold stock performer, with sales increasing since 2016. The company's per-share earnings have also increased since 2019.

Industry experts believe this company's yearly growth will be moderate in 2023 and beyond. The share has lingered from $7 to $17 since 2020, with the price being lower in September 2023.

Expect to receive a nearly four percent dividend with Gold Fields. Remember that their payment amount differs from one year to the next. This is normal for gold stocks.

Choose Gold Fields for a relatively affordable gold stock with high performance. It's an excellent investment for beginners interested in delving into the gold stock market while minimizing risk and upfront costs.

Buy the Best Gold Stocks Today

The top gold stocks of 2023 include Royal Gold and Kinross Gold. Individuals wondering how to invest in gold may also want to buy Alamos Gold, SSR Mining, Franco-Nevada Corp., and Gold Fields Ltd. is your leading provider of trade signals to help you sell and buy assets accurately and securely. Our experienced traders are glad to give you the education and tools needed to make profitable and consistent trades.

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Gold is an important component of any diversified portfolio. Learn about the top performing gold stocks of 2023 in this guide.

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