5 Best Gold Mining Stocks [2025]

Gold has always been more than just a shiny metal. It’s the world’s go-to safe haven when markets get shaky. 

In 2025, with gold prices pushing record highs and demand holding steady, investors don’t just want physical bars and coins. They’re turning to gold mining stocks as a way to tap into the upside of rising gold prices while also gaining the benefits of dividends, growth potential, and global exposure.

Unlike holding bullion, buying shares in top gold mining stocks gives you leverage to the gold price. When gold climbs, gold miner stocks often outperform because their profit margins expand. Add in the fact that many of the largest producers and streamers pay regular dividends, and the appeal is clear.

In this guide, I’ll break down five of the best gold mining stocks to consider in 2025. 

Each one stands out in its own category, from the biggest global producer to the best dividend payer, growth leader, value play, and royalty/streaming giant. 

Let’s get started!

5 best gold mining stocks – Examining the top options in 2025

In the following sections, you’ll find a selection of the best gold mining stocks available on the market today. Keep in mind that my ranking is based on a combination of factors such as production output, financial stability, growth potential, and exposure to gold prices. Different investors may value other aspects, such as dividend yields or geographic diversification, so this list should be seen as a starting point for further research.

1. Best overall gold mining stock: Newmont Corporation (NEM)

When I think about the heavyweight champion of gold mining stocks, Newmont (NEM) is the first name that comes to mind. It’s the largest gold producer in the world, with operations across six continents. 

That kind of scale gives it something most miners don’t have: stability.

In 2025, Newmont is firing on all cylinders. The company pulled in $1.6 billion in net income in Q2 alone, with over $2.4 billion in operating cash flow. Sitting on more than $6 billion in cash reserves, Newmont has the balance sheet to weather downturns and keep rewarding shareholders. 

It’s already paid out billions in dividends and buybacks this year. This shows that this isn’t just about growth, it’s about putting money back in your pocket.

What makes Newmont get its spot on this list is the combination of sheer production power and financial strength. 

With an all-in sustaining cost of around $1,620 per ounce, it’s profitable even when gold prices cool off. And with gold hovering at record highs, margins are as juicy as ever.

If I could only pick one gold mine stock for my portfolio in 2025, this would be it.

Go to Newmont Corporation

2. Best for dividends: Barrick Gold (GOLD)

If you’re hunting for income in the world of gold miner stocks, Barrick Gold (GOLD) would be my recommendation. 

Unlike most miners that pay a flat dividend, Barrick runs a “performance dividend” system. That means the more net cash it builds up, the bigger the payouts get. And right now, the payouts are looking very healthy.

In Q2 2025 alone, Barrick handed out $0.15 per share, boosted by a bonus dividend. That works out to about a 2–3% yield at today’s prices. That’s noticeably higher than Newmont’s. The company also repurchased over $250 million in stock this quarter, proving management is serious about rewarding shareholders.

Barrick’s clean balance sheet is equally impressive. It’s actually sitting in a net-cash position, with more cash than debt. That’s rare for such a massive miner. 

Add in nearly 800,000 ounces of quarterly production and strong free cash flow, and you’ve got a US gold mining powerhouse that’s just as focused on stability as it is on growth. If you want steady income from gold mining stocks, Barrick is your pick.

Go to Barrick Gold

3. Best for growth: Agnico Eagle Mines (AEM)

If you want a gold stock with real upside, Agnico Eagle (AEM) is a top pick. This company has quietly built one of the strongest growth pipelines in the entire sector, and 2025 is showing exactly what that means.

Just last quarter, Agnico posted over $1 billion in net income and generated $1.3 billion in free cash flow. Those are record-breaking numbers. 

What I personally really like is that Agnico isn’t coasting on existing mines. Projects like Odyssey in Canada and Detour Lake’s expansion are setting it up for even more production in the years ahead. Analysts are already calling for double-digit EPS growth, and from what I see, it’s backed by the numbers.

The beauty of Agnico is that it mixes stability (assets in safe regions like Canada, Finland, and Australia) with aggressive growth. That’s rare in the mining world. If you want exposure to top gold mining stocks that actually expand while paying a dividend, Agnico Eagle is great.

Go to Agnico Eagle Mines

4. Best for value: Kinross Gold (KGC)

If you’re looking for a cost-effective option, Kinross (KGC) is excellent. It doesn’t get the same headlines as Newmont or Barrick, but that’s exactly why I see it as undervalued.

In the first half of 2025, Kinross produced over 1 million ounces of gold and generated more than $1 billion in free cash flow. That’s serious money for a company that still trades at a lower earnings multiple than most of its peers. 

On top of that, management has been buying back stock aggressively: over $200 million in Q2 alone, while still paying a steady dividend. That tells me they believe the shares are cheap, and I find it hard to disagree.

Kinross offers a mix of US and Canadian assets, including Nevada and Alaska. That keeps it tied to US gold mining, which means fewer headaches compared to miners that rely heavily on riskier jurisdictions. 

For me, Kinross is the classic “value play” in gold mine stocks: underpriced today, with room to run as the market catches on.

Go to Kinross

5. Best royalty/streaming play: Franco-Nevada (FNV)

For exposure to gold without the headaches of running mines, Franco-Nevada (FNV) is the stock. 

Unlike traditional gold miners in the USA or global producers, Franco doesn’t dig the gold itself. Instead, it finances mining projects in exchange for royalties on production. That means steady cash flow without the risk of rising costs, strikes, or accidents.

And it’s working. In Q2 2025, Franco reported record revenue of $369 million, up 42% from last year, and net income of $247 million, more than triple the year before. Better yet, it raised its dividend again, the 18th year in a row. This is the kind of consistency that gives trust.

What’s great about Franco is that it benefits when gold prices go up, but it’s insulated when things get messy at the mine level. It’s debt-free, highly diversified, and sitting on plenty of capital to fund new deals. 

Franco-Nevada is the cleanest way to play the upside in gold mine stocks without worrying about the operational risks that come with digging in the ground.

Go to Franco-Nevada

Gold market outlook for 2025

Why gold is on fire right now

• Record-breaking gold prices: Gold surged past $3,500 per ounce in April 2025, hitting an all-time intraday high of around $3,500.05. Analysts’ gold price forecast sees even more upside ahead, with potential targets well above current levels. Even by late August it was still hovering near $3,400+, the seventh consecutive record month in 2025.
• Central banks are on a buying spree: Since 2023, global central banks have shifted from being net sellers to aggressive buyers. In 2025, they’re on track to purchase around 1,000 metric tons of gold, the fourth year in a row. 95% of central banks plan to boost their gold reserves within a year, and 43% intend to increase holdings imminently, due to inflation fears, sanctions risks, and dollar uncertainty.
• Macro shifts and de-dollarization: Global moves away from the U.S. dollar, including rising use of local currencies, have strengthened gold’s appeal.  In Q1 2025 alone, central banks added 244 metric tons of gold to reserves, taking gold’s share of global reserves close to 20% as the dollar weakens below 47% of reserve holdings.
• Geopolitical and economic volatility: Political tensions have sparked safe-haven inflows. Investor sentiment has tilted heavily toward gold as traditional fiat systems look shakier by the day.

What it means for gold mining stocks

All this institutional and macro momentum is turbocharging gold miner stocks. According to recent ETF flow data, gold ETFs are seeing their strongest inflows since 2022.

Higher gold prices widen profit margins, ramp up free cash flow, and give miners the luxury to invest, pay dividends, and buy back shares. That massive level of support from central banks and investors is why gold mining stocks are getting so much attention.

The bottom line

Gold has been on a tear in 2025, and the momentum doesn’t look like it’s slowing. For investors who want more than just the shine of physical bullion, gold mining stocks offer real leverage to rising prices. Plus, there’s the added bonus of dividends, growth, and global diversification.

Each of the five companies I’ve highlighted stands out in its own lane. Newmont is the heavyweight champ, Barrick pays the best dividends, Agnico brings growth, Kinross offers value, and Franco-Nevada delivers stability through its royalty model.

There isn’t a one-size-fits-all “best” gold stock. But by blending these categories, you can build a portfolio that captures the upside of top gold mining stocks while balancing income, growth, and risk. If you’re bullish on gold in 2025, these five names deserve a spot on your watchlist.