長期以來，黃金一直被視為市場動蕩時期的避風港。許多投資者透過購買從事勘探和採礦的公司的股票，獲得了對這種貴金屬的敞口。黃金行業的一些主要參與者包括加拿大的Franco Nevada公司（FNV）、Newmont公司（NEM）和澳大利亞的Newcrest礦業有限公司（NCM）。

過去一年，以VanEck Vectors Gold Miners ETF（GDX）為代表的黃金股表現遜於大盤。過去12個月，GDX的總回報率為11.8%，遠低於iShares Russell 1000 ETF（IWB）46.2%的總回報率。這些市場表現資料和下表中的所有統計資料截至2021年5月25日。

以下是價值最高、增長最快、勢頭最猛的5只黃金股。

最佳價值黃金股

價值投資是一種基於因素的投資策略，它包括選擇你認為交易價格低於其內在價值的股票，通常透過衡量股票價格與一個或多個基本商業指標的比率。一個被廣泛接受的價值指標是市盈率。價值投資者認為，如果一個企業相對於其內在價值而言是廉價的，在這種情況下，以其市盈率衡量，股價可能會比其他企業上漲得更快，因為價格回到與公司價值相符的水平。這些股票的12個月跟蹤市盈率最低。

Source: YCharts

• Centerra Gold Inc.: Centerra Gold is a Canada-based gold mining and exploration company. It engages in the operation, exploration, development, and acquisition of gold properties in North America, Asia, and other global markets. The company operates three mines: the Mount Milligan Mine in Canada; the Kumtor Mine in the Kyrgyz Republic; and the Öksüt Mine in Turkey. Centerra produced 824,059 ounces of gold and 82.8 million pounds of copper in 2020. Centerra also has shares that trade in the U.S. on the New York Stock Exchange (NYSE) under the ticker symbol CGAU. On May 17, Centerra announced that the Kyrgyz Government had effectively taken control of the Kumtor Mine in mid-May. The company is no longer in control of the mine and has urged the Kyrgyz government to ensure the safety of all mine employees. It also suspended previously issued guidance for 2021. On May 20, Centerra initiated legal proceedings against a former board member for an alleged breach of fiduciary duty to the company related to the mine seizure.
• Jaguar Mining Inc.: Jaguar is a Canada-based mining company that explores and develops gold properties. The company operates in the Iron Quadrangle, a prolific greenstone belt located in Minas Gerais, Brazil. It has been an area of mineral exploration dating back to the 16th century. Jaguar’s gold mining operati*** include the Turmalina mining complex and the Caeté mining complex. The company also has shares that trade over-the-counter (OTC) in the U.S. under the ticker symbol JAGGF.
• Torex Gold Resources Inc.: Torex Gold Resources is a Canada-based intermediate gold producer. It engages in the exploration, development, and operation of its 100% owned Morelos Gold Property, which is comprised of 29,000 hectares in the Guerrero Gold Belt in Mexico. The company's principal assets include: the El Limon Guajes Mine Complex, comprised of open pit and underground mines; and the Media Luna Project, an advanced stage development project. Torex also has shares that trade OTC in the U.S. under the ticker symbol TORXF.
• Karora Resources Inc.: Karora Resources is a Canada-based, multi-asset mineral resource company primarily focused on the acquisition, exploration, evaluation, and development of precious metal properties. The company's two primary gold-producing operati*** are its Beta Hunt Mine and the Higginsville Gold Operati***. Both operati*** are located in Australia along the Norseman-Wiluna Greenstone Belt. Karora also has shares that trade OTC in the U.S. under the ticker symbol KRRGF. The company announced in early May financial results for Q1 of its 2021 fiscal year (FY), which ended March 31, 2021. Net earnings rose more than ten-fold as revenue grew 9.2% compared to the year-ago quarter.
• Kinross Gold Corp.: Kinross Gold is a Canada-based gold mining company with a diverse portfolio of mines and projects in the U.S., Brazil, Chile, Ghana, Mauritania, and Russia. The company employs approximately 9,000 people globally and projects that it will produce 2.4 million gold equivalent ounces in 2021. Kinross also has shares that trade in the U.S. on the NYSE under the ticker symbol KGC. The company recently announced financial results for Q1 FY 2021, which ended March 31, 2021. Net earnings rose 21% as revenue grew 12.1% compared to the year-ago quarter.

Fastest Growing Gold Stocks

These are the top gold stocks as ranked by a growth model that scores companies based on a 50/50 weighting of their most recent quarterly year-over-year (YOY) percentage revenue growth and their most recent quarterly YOY earnings per share (EPS) growth. Both sales and earnings are critical factors in the success of a company. Therefore ranking companies by only one growth metric makes a ranking susceptible to the accounting anomalies of that quarter (such as changes in tax law or restructuring costs) that may make one or the other figure unrepresentative of the business in general. Companies with quarterly EPS or revenue growth of over 2,500% were excluded as outliers.

Source: YCharts

• Karora Resources Inc.: See above for company description.
• Lundin Gold Inc.: Lundin Gold is a Canada-based mining company. It owns the underground Fruta del Norte gold mine in Ecuador, a multi-million-ounce, high grade gold asset. First gold production at the mine began in November 2019 and the company expects to produce an average of 340,000 ounces of gold per year. The company also has shares that trade OTC in the U.S. under the ticker FTMNF. Lundin's earnings went from negative in the year-ago quarter to positive in its most recent quarter. Therefore we cannot calculate the EPS growth rate in the table above.
• Centerra Gold Inc.: See above for company description.
• Endeavour Mining Corp.: Endeavour Mining is a global gold producer with its main headquarters in the Cayman Islands. It operates seven producing assets: Ity Mine in Côte d'Ivoire, Sabodala-Massawa mine in Senegal; and 5 mines in Burkina Faso. The company also has shares that trade OTC in the U.S. under the ticker EDVMF.
• Equinox Gold Corp.: Equinox Gold is a Canada-based, multi-asset mining company that operates entirely within the Americas. The company has seven operating gold mines and four growth projects throughout Canada, the United States, Mexico, and Brazil. It is poised to achieve annual gold production of one million ounces. Equinox also has shares that trade in the U.S. on the NYSE Arca exchange under the ticker symbol EQX. The company announced in early April that it completed its acquisition of Premier Gold Mines Ltd., adding new mining projects in Canada and Mexico to its portfolio. Premier's gold projects in the U.S. were spun-out into a new company called i-80 Gold Corp that holds Premier' Nevada gold assets. Equinox owns 30% of i-80.

Gold Stocks with the Most Momentum

Momentum investing is a factor-based investing strategy that involves investing in a stock whose price has risen faster than the market as a whole. Momentum investors believe that stocks that have outperformed the market will often continue to do so because the factors that caused them to outperform will not suddenly disappear. In addition, other investors, seeking to benefit from the stock's outperformance, will often purchase the stock, further bidding its price higher and pushing the stock higher still. These are the stocks that had the highest total return over the last 12 months.

Source: YCharts

• Hecla Mining Co.: Hecla Mining is a precious metals company engaged in the discovery, acquisition, development, and production of gold, silver, and associated base metals. The company is the largest silver producer in the U.S. It operates the Greens Creek and Lucky Friday mines in the U.S., and the Casa Berardi mine in Canada. The company also owns a number of exploration and pre-development projects throughout North America. Hecla announced in early May financial results for Q1 FY 2021, which ended March 31, 2021. The company reported net income of $19.0 million, a significant turnaround from a net loss in the year-ago quarter. Product sales rose 54.0%.
• Sibanye-Stillwater Ltd.: Sibanye-Stillwater is a South Africa-based producer of precious metals. The company develops and extracts mineral properties. Its diverse portfolio includes platinum metal operati*** in the U.S. and South Africa, gold operati*** and projects in South Africa, and copper, gold, and platinum metal exploration properties in North and South America. The company is the largest primary producer of platinum, the second-largest primary producer of palladium, and ranks third among global gold producers on a gold-equivalent basis. On April 22, 2021, Sibanye-Stillwater announced a series of changes to senior leadership positi***, including the appointment of Themba Nkosi as chief social performance officer (CSPO) and Lerato Legong as chief legal officer (CLO). These changes follow the previously announced appointments of Richard Stewart to the role of chief operating officer (COO) and Robert van Niekerk as chief technology officer (CTO).
• K92 Mining Inc.: K92 Mining is a Canada-based precious metals producer. The company owns and operates the high-grade, low-cost underground Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea. K92 also engages in exploration projects near its mine and in other parts of the region and has shares that trade OTC in the U.S. under the ticker symbol KNTNF.
• Orezone Gold Corp.: Orezone Gold is a Canada-based development company with a 90% ownership interest in Bomboré, one of the largest undeveloped gold deposits in Burkina Faso. Bomboré is expected to yield 1.6 million ounces of gold over its 13+ mine-life. Orezone plans to begin production soon with the first gold expected to be poured in the third quarter of 2022. The company also has shares that trade OTC in the U.S. under the ticker symbol ORZCF.
• Coeur Mining Inc.: Coeur Mining is a diversified precious metals producer with five operati*** throughout North America. Its operati*** include: the Palmarejo silver-gold complex in Mexico; the Rochester silver-gold mine in Nevada; the Kensington gold mine in Alaska; the Wharf gold mine in South Dakota; and the Silvertip silver-zinc-lead mine in Canada. The company also owns interests in a number of precious metals exploration projects.

The comments, opini***, and ****yses expressed herein are for informational purposes only and should not be c***idered individual investment advice or recommendati*** to invest in any security or to adopt any investment strategy. While we believe the information provided herein is reliable, we do not warrant its accuracy or completeness. The views and strategies described on our content may not be suitable for all investors. Because market and economic conditi*** are subject to rapid change, all comments, opini***, and ****yses contained within our content are rendered as of the date of the posting and may change without notice. The material is not intended as a complete ****ysis of every material fact regarding any country, region, market, industry, investment, or strategy.

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

1. YCharts. "Financial Data." Accessed May 25, 2021.

2. Centerra Gold Inc. "Home Page." Accessed May 26, 2021.

3. Centerra Gold Inc. "Quick Facts." Accessed May 26, 2021.

4. Centerra Gold Inc. "Centerra Gold Responds to Latest Developments in the Kyrgyz Republic," Pages 1 & 2. Accessed May 26, 2021.

5. Centerra Gold Inc. "Centerra Gold Announces Proceedings Against Former Board Director Tengiz Bolturuk," Page 1. Accessed May 26, 2021.

6. Jaguar Mining Inc. "Home." Accessed May 26, 2021.

7. Jaguar Mining Inc. "Overview of Operati***." Accessed May 26, 2021.

8. Torex Gold Resources Inc. "Home Page." Accessed May 26, 2021.

9. Torex Gold Resources Inc. "Assets." Accessed May 26, 2021.

10. Karora Resources Inc. "Home." Accessed May 26, 2021.

11. Karora Resources Inc. "Overview." Accessed May 26, 2021.

12. Karora Resources Inc. "Karora Delivers Strong Start To Year With First Quarter 2021 Adjusted Earnings Of $0.06 Per Share, Adjusted EBITDA Of $0.15 Per Share As Operati*** Continue To Deliver In Line With 2021 Guidance And Phase I Mill Expansion Tracks Ahead Of Schedule." Accessed May 26, 2021.

13. Kinross Gold Corp. "About Us." Accessed May 26, 2021.

14. Kinross Gold Corp. "Operati***." Accessed May 26, 2021.

15. Kinross Gold Corp. "Kinross reports 2021 first-quarter results." Accessed May 26, 2021.

16. Lundin Gold Inc. "About Lundin Gold." Accessed May 26, 2021.

17. Lundin Gold Inc. "Fruta del Norte Project." Accessed May 26, 2021.

18. Endeavour Mining Corp. "Our Assets." Accessed May 26, 2021.

19. Equinox Gold Corp. "Operati***: Overview." Accessed May 26, 2021.

20. Equinox Gold Corp. "Company Profile." Accessed May 26, 2021.

21. Equinox Gold Corp. "Equinox Gold Completes Acquisition of Premier Gold Mines, i-80 Gold Created." Accessed May 26, 2021.

22. Hecla Mining Co. "About Us." Accessed May 26, 2021.

23. Hecla Mining Co. "Hecla Reports First Quarter 2021 Results." Accessed May 26, 2021.

24. Sibanye-Stillwater Ltd. "About Us." Accessed May 26, 2021.

25. Sibanye-Stillwater Ltd. "Our Business." Accessed May 26, 2021.

26. Sibanye-Stillwater Ltd. "Changes and Appointments to Sibanye-Stillwater Senior Leadership," Page 1. Accessed May 26, 2021.

27. K92 Mining Inc. "Home." Accessed May 26, 2021.

28. K92 Mining Inc. "About K92." Accessed May 26, 2021.

29. Orezone Gold Corp. "Company: Overview." Accessed May 26, 2021.

30. Orezone Gold Corp. "Home Page." Accessed May 26, 2021.

31. Coeur Mining Inc. "Home Page." Accessed May 26, 2021.

Compare Accounts

Advertiser Disclosure

×

The offers that appear in this table are from partnerships from which Investopedia receives compensation.

Provider

Name

Description

Related Articles

International Markets

10 Biggest Canadian Mining Companies

Gold

4 Ways You Can Invest In Gold Without Holding It

Gold

VanEck Vectors Gold Miners ETF (GDX)

Gold

How Can I Invest in Gold?

Gold

Does It Still Pay to Invest in Gold?

Gold

4 Ways to Buy Gold

What Is the NYSE Arca Gold BUGS Index?

The NYSE Arca Gold BUGS Index, also known as the HUI Gold Index, is an index of publicly-traded gold-mining companies useful for tracking gold prices.

Gold Standard

The gold standard is a system in which a country's government allows its currency to be freely converted into fixed amounts of gold.

Commodity Market

A commodity market is a physical or virtual marketplace for buying, selling, and trading commodities. Discover how investors profit from the commodity market.

What Is Silver?

Silver is an element commonly used in jewelry, coins, electronics, and photography; thus, it is seen as a highly valuable substance.

World Gold Council (WGC)

The World Gold Council is a nonprofit association of gold producers, established to promote the use of gold.

Altcoin

An Altcoin is an alternate cryptocurrency other than Bitcoin. Learn about Altcoins, how they work, and which are the most popular.

• About Us
• Terms of Use
• Dictionary
• Editorial Policy
• Advertise
• News
• Privacy Policy
• Contact Us
• Careers
• California Privacy Notice

• #
• A
• B
• C
• D
• E
• F
• G
• H
• I
• J
• K
• L
• M
• N
• O
• P
• Q
• R
• S
• T
• U
• V
• W
• X
• Y
• Z

Investopedia is part of the Dotdash publishing family.