Largest Gold Mining Stocks – Diving Deep into the Gold Mining Sector

In this article we will go over what the largest gold mining stocks are both right now in 2023 and in history, we will dive deep into the gold mining sector exposing the best stocks both local and international.

We have to point out however, that this is not financial advice and the opinions given here even though they are thoroughly researched by financial advisors and backed up by data in the end, they are just that, opinions, so we advise you do your own research or contact a financial advisor or consultant before making any investment decisions.

What is the largest gold mining company?

The largest gold mining company is Newmont Corporation. Based in the United States, Newmont is the world’s largest gold producer, with operations in North and South America, Africa, and Australia. The company’s operations are primarily focused on gold, but it also produces copper, silver, zinc, and lead.

What is the best gold mining stock?

Choosing the best gold mining stock depends on various factors, including the company’s financial performance, its mining operations, and the overall market conditions. However, some of the best gold mining stocks that investors can consider include:

1. Newmont Corporation (NYSE: NEM)
2. Barrick Gold Corporation (NYSE: GOLD)
3. Franco-Nevada Corporation (NYSE: FNV)
4. Agnico Eagle Mines Limited (NYSE: AEM)
5. Wheaton Precious Metals Corp. (NYSE: WPM)

These companies have a proven track record of delivering consistent returns to their investors, making them attractive investment options.

Historical best gold mining stocks mining stock reviews

In this section, let’s review some of the best gold mining stocks based on their historical performance:

1. Newmont Corporation (NYSE: NEM)

Newmont Corporation is one of the largest and most diversified gold mining companies in the world. The company has a proven track record of delivering strong financial performance, with consistent revenue growth and profitability.

Newmont has a solid balance sheet with a debt-to-equity ratio of 0.25, making it a financially stable company.

The company’s forward P/E ratio is 11.7, indicating that it is undervalued.

2. Barrick Gold Corporation (NYSE: GOLD)

Barrick Gold Corporation is one of the world’s largest gold mining companies, with operations in 13 countries across five continents. The company has a diversified portfolio of assets, including low-cost mines and projects in development.

Barrick Gold has a strong financial position, with a debt-to-equity ratio of 0.42, indicating that it is financially stable.

The company’s forward P/E ratio is 11.1, making it an undervalued stock.

3. Franco-Nevada Corporation (NYSE: FNV)

Franco-Nevada Corporation is a gold-focused royalty and streaming company. The company provides upfront capital to miners in exchange for a percentage of the revenue generated from the mine. Franco-Nevada has a diversified portfolio of assets, including precious metals, oil, and gas.

The company has a strong balance sheet with a debt-to-equity ratio of 0.04, indicating that it is financially stable.

The company’s forward P/E ratio is 52.1, making it a bit pricey but still an attractive investment option.

Franco Nevada is honestly considered at least here at Montknoll as the overall best Gold stock to buy not only because of it’s great historical performance but also because of the rather generous dividends this stock pays to its shareholders.

What are Fundamental PE ratios

The fundamental P/E ratio is a metric that investors use to determine the value of a company’s stock when compared to its earnings per share. It is calculated by dividing the current stock price by the company’s earnings per share over the past year. Here are the fundamental P/E ratios of the previously mentioned gold mining stocks:

Who is the leader in gold mining?

Newmont Corporation is the leader in gold mining, with the largest gold reserves and the highest gold production globally.

Who are the top 3 producers of gold?

The top 3 producers of gold are:

1. Newmont Corporation
2. Barrick Gold Corporation
3. AngloGold Ashanti Limited

Best Gold Mining Stocks Available in the Market

Now that we have covered some of the most important questions related to gold mining stocks let’s take a closer look at some of the best gold mining stocks available in the market.

1) Newmont Corporation (NYSE: NEM)

Newmont Corporation is the largest gold mining company in the world, with gold reserves of approximately 94.2 million ounces. The company has operations in North and South America, Africa, and Australia, and produces over 5 million ounces of gold annually.

In addition to gold mining, Newmont also mines copper, silver, and other metals, providing some diversification for investors. The company has a low fundamental P/E ratio of 11.7, indicating that it may be undervalued compared to its earnings.

Barrick Gold Corporation (NYSE: GOLD)

Barrick Gold Corporation is another large gold mining company, with gold reserves of approximately 68 million ounces. The company has operations in North and South America, Africa, and the Middle East, and produces over 4 million ounces of gold annually.

Barrick Gold has a fundamental P/E ratio of 11.1, indicating that it may also be undervalued compared to its earnings. The company has a history of strong financial performance and is committed to sustainable mining practices.

Franco-Nevada Corporation (NYSE: FNV)

Franco-Nevada Corporation is a gold-focused royalty and streaming company that provides financing to gold mining companies in exchange for a percentage of future production. The company has interests in more than 190 mining assets and has exposure to both gold and other commodities.

While Franco-Nevada has a high fundamental P/E ratio of 52.1, it is important to note that the company operates differently from traditional mining companies, and investors should consider its unique business model when evaluating its valuation.

Agnico Eagle Mines Limited (NYSE: AEM)

Agnico Eagle Mines Limited is a Canadian gold mining company with operations in Canada, Mexico, and Finland. The company has gold reserves of approximately 23 million ounces and produces over 1.7 million ounces of gold annually.

Agnico Eagle has a fundamental P/E ratio of 21.3, indicating that it may be slightly overvalued compared to its earnings. However, the company has a strong history of financial performance and a commitment to responsible mining practices.

Wheaton Precious Metals Corp. (NYSE: WPM)

Wheaton Precious Metals Corp. is a Canadian streaming company that provides financing to mining companies in exchange for a percentage of future production. The company has interests in more than 20 mining assets and has exposure to both gold and other precious metals.

Wheaton Precious Metals has a high fundamental P/E ratio of 43.7, reflecting the unique nature of its business model. However, the company has a history of strong financial performance and provides investors with exposure to a diversified portfolio of mining assets.

Kinross Gold Corporation (NYSE: KGC)

Kinross Gold Corporation is a Canadian gold mining company with operations in North and South America, West Africa, and Russia. The company has gold reserves of approximately 24.3 million ounces and produces over 2.4 million ounces of gold annually.

Kinross Gold has a low fundamental P/E ratio of 7.9, indicating that it may be undervalued compared to its earnings. The company has a commitment to responsible mining practices and a history of strong financial performance.

Historical Best Gold Mining Stocks

Now let’s take a look at some of the best gold mining stocks in history. The following companies have historically provided investors with strong returns and have been leaders in the gold mining industry:

1) Homestake Mining Company

Homestake Mining Company was one of the largest gold mining companies in the United States, with operations in South Dakota and California. The company was founded in 1877 and operated until it was acquired by Barrick Gold Corporation in 2001. During its history, Homestake produced over 40 million ounces of gold and was known for its innovative mining techniques and technology.

2) Placer Dome Inc.

Placer Dome Inc. was a Canadian mining company with operations in North and South America, Asia, and Australia. The company was known for its strong financial performance and commitment to sustainable mining practices. In 2006, Placer Dome was acquired by Barrick Gold Corporation in one of the largest mining industry mergers in history.

3) Goldcorp Inc.

Goldcorp Inc. was a Canadian gold mining company with operations in Canada, Mexico, and Central and South America. The company was known for its low-cost operations and strong financial performance and was one of the largest gold mining companies in the world before Newmont Corporation acquired it in 2019.

Frequently Asked Questions about Gold Mining Companies

Which is No 1 gold company?

Newmont Corporation is the number one gold company, with the largest gold reserves and the highest gold production globally.

Who is the biggest gold producer in North America?

Newmont Corporation is the biggest gold producer in North America, with operations in the United States, Canada, and Mexico.

Who has the biggest gold stockpiles?

The United States has the largest gold stockpile in the world, with over 8,000 tons of gold. Other countries with significant gold stockpiles include Germany, Italy, France, and China.

What family owns the most gold?

It is difficult to determine which family owns the most gold as gold ownership is often kept private. However, some of the world’s wealthiest families, including the Rothschilds, the Rockefellers, and the Gettys, have historically been associated with gold ownership.

Who owns the richest gold mine in the world?

The richest gold mine in the world is located in South Africa and is known as the Mponeng Gold Mine. The mine is owned and operated by AngloGold Ashanti Limited and has estimated gold reserves of over 13 million ounces.

Are gold stocks worth buying?

Investing in gold stocks can be a good way to diversify your portfolio and hedge against inflation and economic uncertainty. However, like any investment, gold stocks come with risks, and it is important to do your research and consider your financial goals and risk tolerance before investing.

What is the richest mining company?

The richest mining company in the world is BHP Group, a mining and metals company based in Australia. The company has a market capitalization of over $200 billion and operates in the mining of iron ore, copper, coal, and other minerals.

Where to invest in gold mining?

Investors can invest in gold mining stocks through a brokerage account, mutual funds, or exchange-traded funds (ETFs). It is essential to research the companies and funds before investing to ensure that they align with your investment goals and risk tolerance. Additionally, investors can consider investing in physical gold, such as gold coins or bullion, as a way to diversify their portfolio and hedge against economic uncertainty.

Bottom Line

With the current state of the global economy, gold mining stocks have become an increasingly attractive option for investors. As we have seen, the price of gold tends to rise during times of economic uncertainty and inflation, making gold mining stocks an excellent way to hedge against market volatility. In this article, we have covered some of the best gold mining stocks, historical reviews, and other key information that investors need to know.

To summarize, the largest gold mining company in the world is Newmont Corporation. The company has operations in several countries, including the United States, Canada, Mexico, Australia, and Ghana. As of 2022, Newmont has a market capitalization of over $49 billion and is one of the most significant gold producers in the world.

Gold mining stocks can be an excellent addition to a well-diversified portfolio, offering investors a way to hedge against market volatility and economic uncertainty. By understanding the top gold mining companies, their financial ratios, and other key information, investors can make informed decisions and potentially realize significant returns.