7 Gold Stocks to Buy Amid Alarming Fear Trade Signals

Industry Overview - The precious metals sector, particularly gold, has gained renewed interest as gold recently reached an all-time high, suggesting a potential healthy correction before another significant move [1][2] - The fear trade, characterized by a desire for safe-haven assets, has driven demand for gold, with both retail and central banks increasing their physical gold holdings [2][3] Company Summaries Kinross Gold (KGC) - Kinross Gold focuses on the acquisition, exploration, and development of gold properties in regions including the U.S., Brazil, and Canada, with analysts rating it a strong buy and a price target of $8.45, indicating nearly 5% upside potential [4][5] - The company reported a net income of $433.1 million on revenue of $4.39 billion over the trailing 12 months, with a quarterly revenue growth rate of 16.4% [5][6] Equinox Gold (EQX) - Equinox Gold, which operates in the Americas, is rated a moderate buy with an average price target of $6.90, suggesting a 24% upside [7][8] - The company has shown a quarterly surprise of 130.73% over the past four quarters, with a net loss of $31.27 million on sales of $1.1 billion [8][9] Wheaton Precious Metals (WPM) - Wheaton Precious Metals specializes in a streaming business model and is rated a strong buy with a price target of $59.94 [10][11] - The company reported a net income of $590.29 million on revenue of $1.1 billion, with a quarterly revenue growth rate of 38.4% [11][12] Franco-Nevada (FNV) - Franco-Nevada operates as a gold-focused royalty and streaming company, rated a moderate buy with a price target of $143.01 [13][14] - The company incurred a net loss of $478.4 million on revenue of $1.2 billion over the trailing 12 months, with a quarterly revenue growth rate of -7.1% [14][15] New Gold (NGD) - New Gold is an intermediate gold mining firm rated a moderate buy with an average price target of $2.21, indicating over 12% upside [16][17] - The company reported a net loss of $76.2 million on sales of $777 million, but analysts expect EPS to expand by 86% in fiscal 2024 [17][18] McEwen Mining (MUX) - McEwen Mining engages in the exploration and production of gold and silver, rated a strong buy with a price target of $13 [19][20] - The company reported a net income of $77.99 million on sales of $172.71 million, with analysts anticipating a significant improvement in fiscal 2024 [20][21] US Gold (USAU) - US Gold is a small enterprise focused on the exploration of gold and precious metals, with a market cap of less than $64 million [22][23] - The company is pre-revenue but has received two buy ratings with price targets of $11 and $15.25, indicating potential for significant share price mobility [23][24]