Got Gold? 5 Hot Gold Mining Stocks

Market Overview & Trends - Gold prices have broken out to new all-time highs, holding over $3,000 per ounce for the entire second quarter and into the third quarter, leading to tremendous earnings for gold miners [3] - The industry is experiencing a bull market on all metals, both precious and otherwise [24] - Newmont, one of the largest gold miners, reported record earnings and free cash flow, subsequently raising its share buyback plan and paying off debt, indicating favorable market conditions for gold miners [4] Company Performance & Strategies - Agnico Eagle Mines (Agneo), Kinross, and AngloGold Ashanti are highlighted as Zacks number one ranked gold miners, with charts showing an "up and to the right" trend, reflecting strong earnings performance [2][9][18] - Many gold miners are considering expanding share buybacks or paying special dividends due to the high gold prices, rather than significantly raising regular dividends, as they are uncertain about the sustainability of prices above $3,000 [8] - Some gold miners are pursuing acquisitions of smaller miners instead of developing their own mines, due to the cash-intensive and risky nature of mine development [20][21] Individual Company Analysis - Agnico Eagle Mines (Agneo) shows an 89% earnings growth in 2024 and an expected 57% in 2025 [5] - Kinross shows 94% earnings growth this year [10] - Alamos Gold (AGI) is a smaller market cap company with a number three rank, showing 66% earnings growth this year and analysts are more bullish on next year with 33% growth [11][14] - El Dorado Gold, a smaller gold miner with operations in Quebec, Greece, and Turkey, is expected to have 63% earnings growth in 2026 [14][17] - Anglo Gold Ashanti is expected to have earnings up 125% this year [19] Investment Considerations - Analysts are trying to catch up with the dramatic earnings growth, resulting in cheap forward P/E ratios for some gold mining stocks even at their highs [10] - The GDX is mentioned as an ETF option for investing in gold miners [11] - Investors should watch free cash flows and how companies are utilizing their cash [7]