In this article, we will discuss the 10 Best Gold Penny Stocks to Buy Now (and Precious Metals Stocks).
The global precious metals market is influenced by economic uncertainty, inflation, and shifting supply and demand patterns. The Business Research Company projects that the global metals market will grow at a CAGR of 5.9% through 2025. The mining sector is expanding at a CAGR of 6.2%, outpacing the broader metals market, and is expected to reach $2,401.85 billion.
Gold prices set new records in 2025, with Reuters reporting spot gold at $2,936.38 per ounce on March 3 and U.S. gold futures at $2,956.10. Central banks are stockpiling gold, which is driving up demand at record rates. Furthermore, investors seek gold as a safe haven during periods of inflation. S&P Global reports that gold futures grew by 34.6% year-over-year as of March 7, 2025, outpacing broader market indices. These trends are reshaping the gold market’s role in finance.
Supply and demand patterns are also shifting as gold now flows from Asian hubs such as Dubai and Hong Kong to the U.S., driven by higher premiums in U.S. futures markets and fears of import tariffs. U.S. Comex gold inventories have jumped 80% since late 2024, and investors are responding to better pricing and arbitrage opportunities.
Meanwhile, silver prices have also surged, reaching $30 per ounce in 2024, the highest since 2011. This increase was driven by inflation, geopolitical instability, and a weaker U.S. dollar. The Silver Institute expects the total silver demand to reach 1.20 billion ounces in 2025 while fabrication demand will exceed 700 million ounces for the first time. Additionally, silver recycling is expected to rise 5% to over 200 million ounces, the highest since 2012.
Platinum supply remains tight, with global production forecast to rise marginally by 0.76% in 2025, reaching 7.32 million ounces, leaving a supply gap of 539,000 ounces. Refined platinum production is expected to fall by 1%, reaching 5.55 million ounces versus 5.63 million in 2024. South Africa’s declining output worsens this shortfall.
Despite these obstacles, technological advances offer some hope. AI-driven exploration has cut mine development time from 16 years to nine. According to KPMG Mining Outlook 2024, geophysical data analysis now takes weeks instead of years. New refining technologies like bioleaching and cyanide-free processing improve efficiency and sustainability, ensuring more secure long-term precious metal supplies.
Thus, with this in mind, let’s explore the 10 Best Gold Penny Stocks to Buy Now.
A mine entrance, showcasing the precious metals and minerals that this company produces.
Our Methodology
To compile a list of the 10 Best Gold Penny Stocks to Buy Now, we first sifted through ETFs and stock screener to gather the top mining stocks under $5. We then selected the 10 stocks that were the most popular among elite hedge funds and that analysts were bullish on. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them as of Q4 2024. The hedge fund data was sourced from Insider Monkey’s database, which tracks the moves of over 1,000 elite hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10. Taseko Mines Limited (NYSE:TGB)
Number of Hedge Fund Holders: 12
Taseko Mines Limited (NYSE:TGB) is a globally recognized mining company that acquires, develops, and operates mineral properties. It mines copper, molybdenum, gold, niobium, and silver. In December 2024, Taseko acquired 100% of the Gibraltar mine’s silver stream for $12.7 million, allowing it to benefit from rising silver prices.
For the year ending December 31, 2024, Taseko Mines Limited (NYSE:TGB) reported record revenue of $450 million, driven by strong copper prices averaging $4.17 per pound. Higher silver production, following the full acquisition of Gibraltar’s silver stream, further boosted revenue. Adjusted EBITDA reached about $165 million, while operating cash flow grew to $175 million.
Production at Gibraltar faced challenges, as maintenance work and the labor strike cost the company about 15 million pounds of copper output. Still, the fourth quarter saw a strong comeback. The company produced 29 million pounds of copper at $1.79 per pound, while molybdenum production reached 578,000 pounds due to higher grades from the Connector pit.
For 2025, Taseko Mines Limited (NYSE:TGB) expects Gibraltar’s copper output to rise to 120-130 million pounds, with performance improving in the second half. Additionally, the company is restarting its SX/EW plant, adding 3-4 million pounds of cathode production. The expanded silver stream will generate more revenue, as silver prices climb.
The Florence Copper Project will drive future expansion, with the first production targeted for 2026. By 2027, it should produce 85 million pounds of copper. The Yellowhead project continues to advance, with an updated technical report expected in Q2 2025. Government policies, including potential tax credits, might improve the economics of these projects, creating more advantages for the company and making it one of the best penny stocks.
9. NovaGold Resources Inc. (NYSE:NG)
Number of Hedge Fund Holders: 13
NovaGold Resources Inc. (NYSE:NG) is a company that explores for gold. Its main asset is the 50%-owned Donlin Gold project in Alaska. This major gold deposit holds 39 million ounces at a grade of 2.25 grams per ton. Located in a top mining region, Donlin Gold offers significant growth potential, setting the company up for long-term success as one of the best penny stocks.
For the year ending November 30, 2024, NovaGold Resources Inc. (NYSE:NG) reported a loss of $45.6 million, or $0.14 per share. This loss was smaller than expected, due to lower field expenses at Donlin Gold. Higher general and administrative costs and interest expenses on the Barrick promissory note hurt the company’s finances. Still, the company maintains a strong financial position with $101 million in cash and term deposits.
The company’s 2024 cash burn was $24.5 million, well below its initial guidance of $31.2 million, proving efficient cost control. NovaGold Resources Inc. (NYSE:NG) allocated $21.5 million to advance Donlin Gold. In 2024, it made significant progress at Donlin Gold. The company finished metallurgical testing, improved the resource model, and submitted design packages for Dam Safety Certification to Alaska authorities. These steps show its commitment to project development goals. The company also strengthened local relationships through better community outreach, which is key to long-term success.
Despite permit litigation, Donlin Gold continues to receive support from local and state stakeholders. This highlights the project’s strong foundation and positive community ties. For 2025, the company has allocated a $43 million budget. The 2025 budget will focus on essential work like geotechnical studies, project planning, and community engagement. With strong finances, solid project progress, and deep local partnerships, NovaGold Resources Inc. (NYSE:NG) is well-positioned as one of the best penny stocks.
8. Silvercorp Metals Inc. (NYSE:SVM)
Number of Hedge Fund Holders: 14
Silvercorp Metals Inc. (NYSE:SVM) is a prominent silver mining company with its main operations in China, where the Ying Mine serves as its core operation. The company produces silver, gold, lead, and zinc, focusing on growth and boosting production. Recent achievements show Silvercorp’s robust performance, with record financial results and major strides in expanding operations.
For the third quarter ending December 31, 2024, Silvercorp Metals Inc. (NYSE:SVM) posted strong results with a record $84 million in revenue, up 43% from the previous year. The company also achieved an operating cash flow of $45 million, a 90% jump year-over-year. Silver production increased 16%, reaching 1.9 million ounces. This helped the company generate a net income of $26 million, more than double the previous year’s figures, driven by higher production and metal prices. Although a small drop in zinc sales slightly reduced gains, performance stayed strong overall.
Silvercorp’s success stemmed largely from the Ying Mine expansion. The company upgraded its mill, raising daily capacity from 2,500 to 4,000 tons. Silvercorp Metals Inc. (NYSE:SVM) also finished Phase 1 of a tailings storage facility and obtained permits for its Kuanping satellite project. These advancements along with strategic investments like the El Domo Copper-Gold project in Ecuador show the company’s dedication to growing its reach and building on its success.
Silvercorp Metals Inc. (NYSE:SVM) plans to produce 6.7 to 7.2 million ounces of silver in the fiscal year 2025, supported by investments in existing operations and growth ventures. The company expects ongoing production growth from mill expansions and project development despite challenges from a weaker zinc market. With strong finances, a focus on cost control, and strategic asset investments, SVM is well-positioned to capitalize on rising metal prices and maintain its position as one of the best penny stocks.
7. Sibanye Stillwater Limited (NYSE:SBSW)
Number of Hedge Fund Holders: 18
Sibanye Stillwater Limited (NYSE:SBSW) is a multinational mining company specializing in precious metals like gold, platinum, palladium, and rhodium. The company runs operations across South Africa, the US, Europe, and Australia, using its global presence to boost growth.
During the latter half of 2024, Sibanye Stillwater Limited (NYSE:SBSW) saw a revenue increase of 7%, mainly from higher gold prices and the addition of Reldan operations. Yet, full-year revenue dipped 1% to $6.12 billion. The company posted $715 million in adjusted EBITDA but suffered a $311 million net loss due to impairments. Excluding impairments, Sibanye reported a profit of $182 million, showing strong core performance.
There were varying trends across the key sites. South African gold units excelled, with EBITDA rising 216% in the second half of 2024. Meanwhile, South African PGM operations struggled, with EBITDA dropping 60% due to weaker metal prices. Sibanye Stillwater Limited (NYSE:SBSW) responded by restructuring US PGM operations, cutting costs by 27%. U.S. recycling operations (PGM and Reldan) added $32 million to adjusted EBITDA. These moves helped the company finish with $853 million in cash at the year-end.
Going forward, Sibanye Stillwater Limited (NYSE:SBSW) aims to cut U.S. PGM production costs to $1,000 per ounce within three years. The company stands to gain from the rising demand for strategic metals, especially in the U.S. market. Yet, challenges remain, including potential legal costs of up to $522 million from a canceled Brazilian mine deal. This liability could affect future cash flow. With strong cash reserves, ongoing restructuring, and exposure to key precious metals markets, Sibanye ranks as one of the best penny stocks.
6. Fortuna Mining Corp. (NYSE:FSM)
Number of Hedge Fund Holders: 19
Fortuna Mining Corp. (NYSE:FSM) operates a diverse portfolio of metal mines across Argentina, Burkina Faso, Mexico, Peru, and Côte d’Ivoire. The company extracts silver, gold, lead, and zinc, with significant assets including the Séguéla gold mine in Côte d’Ivoire and Yaramoko in Burkina Faso.
In Q4 ending December 31, 2024, Fortuna Mining Corp. (NYSE:FSM) reported strong results with a record free cash flow of $19.6 million, increasing 69% from the previous quarter. Net cash from operations stood at $142 million ($0.46 per share) before working capital changes, beating analysts’ estimates of $0.40. The company’s yearly revenue topped $1 billion for the first time, with quarterly revenue increasing 10% to $302 million. Higher realized gold prices, averaging $2,660 per ounce, helped drive this growth.
The company increased exploration, investing $49 million in 2024 and allocating $51 million for 2025 to develop projects like Kingfisher and Sunbird Deep at Séguéla. Fortuna Mining Corp. (NYSE:FSM) is divesting its San José mine in Mexico to focus on other core assets. Both Séguéla and Yaramoko performed well, with Séguéla producing 137,781 ounces of gold and Yaramoko yielding 116,206 ounces.
In the future, Fortuna Mining Corp. (NYSE:FSM) expects production costs between $895 and $1,015 per ounce. Séguéla’s production is expected to reach 160,000 to 180,000 ounces by 2026. The company anticipates temporarily higher costs in early 2025 due to a higher stripping ratio at Lindero but expects improvements later in the year. As one of the best penny stocks, the company is focused on cost control and strategic growth for continued success.
5. Endeavour Silver Corp. (NYSE:EXK)
Number of Hedge Fund Holders: 19
Endeavour Silver Corp. (NYSE:EXK) is a mid-tier precious metals company with key operations in Mexico at the Guanaceví and Bolañitos mines. It is advancing its main Terronera project in Jalisco while maintaining a diverse exploration portfolio across Mexico, Chile, and the U.S. The company aims to increase production and cement its spot as a top silver producer and one of the best penny stocks.
For Q3 ending September 30, 2024, revenue increased 8% year-over-year to $53 million, driven by higher silver and gold prices. Despite this, the company faced operational and cost-related challenges, resulting in a $17 million net loss. Silver-equivalent output for the quarter reached 1.6 million ounces, with the company holding $55 million in cash and $29 million in working capital, giving it a stable base for growth.
Endeavour Silver Corp. (NYSE:EXK) strengthened its finances with a recent $72.8 million bought-deal offering. These funds will help advance the Pitarrilla project in Durango and support ongoing work. Meanwhile, exploration at Bolañitos found rich silver-gold deposits in the La Luz vein, which could extend the mine’s life significantly.
The Terronera project approached 90% completion by December 31, 2024. Surface work is almost done, with a full start-up expected in early Q2 2025, though some delays occurred due to delays in steel deliveries. Meanwhile, the Guanaceví mine faced a setback in Q4 due to a ball mill failure but should return to full capacity soon, boosting production.
With these improvements and project advances, Endeavour Silver Corp. (NYSE:EXK) remains among the best penny stocks for investors looking at the mining market.
4. B2Gold Corp. (NYSE:BTG)
Number of Hedge Fund Holders: 19
B2Gold Corp. (NYSE:BTG) is a major gold producer based in Vancouver, maintaining strong operations across Mali, Namibia, and the Philippines. The company is developing its promising Goose Project in northern Canada while exploring opportunities in Mali, Colombia, and Finland. With expanding production capabilities and solid financials, B2Gold is cementing its position in the global gold mining industry as one of the best penny stocks.
For the year ending December 31, 2024, B2Gold Corp. (NYSE:BTG) produced 804,778 ounces of gold, falling at the lower end of its production guidance due to delays in accessing high-grade ore at the Fekola mine. Strong output from the Masbate and Otjikoto mines helped achieve 186,001 ounces in Q4 of 2024. Despite Fekola’s challenges, quarterly earnings remained stable, with an adjusted net income of $0.01 per share. Operating cash flow reached $145 million, boosted by rising gold prices, while full-year cash reserves stood at $337 million after fully repaying a $400 million credit facility.
Despite B2Gold Corp.’s (NYSE:BTG) 2024 challenges, the company is positioned for expansion in 2025. The Goose Project is set to launch in Q2 2025, aiming to produce over 300,000 ounces of gold annually. At Otjikoto, exploration of the Antelope deposit added 327,000 ounces to resources, boosting growth potential. Progress in Colombia continues with the Gramalote Project, which is expected to have a feasibility study completed by mid-2025 and a possible annual output of 234,000 ounces.
With the Goose Project ramping up and the regional expansion of Fekola advancing, B2Gold expects production to rebound in 2025. The company continues rewarding shareholders, declaring a Q1 2025 dividend of $0.02 per share. As these developments unfold, B2Gold Corp. (NYSE:BTG) is well-positioned for long-term growth.
3. New Gold Inc. (NYSE:NGD)
Number of Hedge Fund Holders: 26
New Gold Inc. (NYSE:NGD) is a Canadian gold mining company focusing on developing and running key mineral sites across North America. The company owns the Rainy River mine in Ontario and the New Afton project in British Columbia, where it extracts gold, silver, and copper.
For the year ended December 31, 2024, New Gold Inc. (NYSE:NGD) reported impressive financial results, with revenue hitting $924.5 million, up 17.55% from 2023. This growth came from higher gold and copper prices, and improved operations. The company cut total costs per ounce by 31%, from $1,481 in Q4 2023 to $1,018 in Q4 2024. These cost savings boosted margins and helped generate $90 million in free cash flow.
New Gold Inc. (NYSE:NGD) hit major operational milestones in 2024. The C-Zone at New Afton achieved commercial production, boosting efficiency and cutting costs. However, Rainy River faced some mechanical downtime that briefly impacted production.
Going forward, New Gold Inc. (NYSE:NGD) expects gold output to rise from 300,000 ounces in 2024 to 410,000 ounces by 2027. Production may dip in early 2025 due to mine sequencing, but should bounce back in the second half as the C-Zone fully ramps up. Ongoing exploration at Rainy River might extend the mine’s life, depending on metal prices and tailings capacity.
With solid financial performance, reduced costs, and a 94.22% stock gain over the past year, as of the date of writing this article, New Gold Inc. (NYSE:NGD) stands out as one of the best penny stocks. Its focus on efficiency, production growth, and financial strength makes it a compelling option for investors in the gold market.
2. Hecla Mining Company (NYSE:HL)
Number of Hedge Fund Holders: 27
Hecla Mining Company (NYSE:HL) is North America’s top silver producer, with various precious and base metal mines across the region. Its main assets, including Greens Creek and Lucky Friday mines, deliver steady cash flow, while Keno Hill is central to future growth plans. The company is known for dependability and growth, which strengthens its position in the mining industry as one of the best penny stocks.
For the quarter ended December 31, 2024, Hecla Mining Company (NYSE:HL) posted record revenues of over $900 million, showing a 29.1% increase year-over-year. This boost came from higher silver and gold prices, and strong mine output. Greens Creek and Lucky Friday generated $228 million in free cash flow, allowing Hecla to self-fund its growth projects.
However, Hecla Mining Company (NYSE:HL) faced setbacks at Keno Hill, producing only 2.8 million ounces of silver, fewer than the expected target. This shortfall was caused by infrastructure issues and permit delays. Hecla is currently operating at 440 tons per day and is pushing to reach 600 tons per day to cut fixed costs and improve output. The company is working with Yukon officials to obtain permits for increased production.
Despite issues at Keno Hill, Hecla hit its 2024 silver production targets. Greens Creek delivered 8.5 million ounces, while Lucky Friday contributed 4.9 million ounces. Casa Berardi added 87,000 ounces of gold. Looking ahead, Hecla Mining Company (NYSE:HL) projects 15.5 to 17 million ounces of silver for 2025. The company’s outlook is positive, with Lucky Friday’s mine life extended to 18 years as a result of recent assessments.
1. Ferroglobe PLC (NASDAQ:GSM)
Number of Hedge Fund Holders: 27
Ferroglobe PLC (NASDAQ:GSM) is a top global producer of silicon metal, ferroalloys, and manganese alloys, supporting key sectors like automotive, construction, and clean energy. With facilities across Europe and North America, the company uses a vertically integrated approach that boosts production and supply chain efficiency, making it the top pick in our list of the best penny stocks.
For the quarter ended December 31, 2024, Ferroglobe PLC (NASDAQ:GSM) saw revenue drop to $368 million, an 18% decline from the previous quarter. This fall was due to a 13% decrease in silicon metal and alloy volumes. Adjusted EBITDA fell from $60 million in Q3 to just $10 million due to weak demand, higher French energy costs, and reduced ferrosilicon prices.
Despite market headwinds, Ferroglobe PLC (NASDAQ:GSM) accomplished major milestones, primarily through trade actions. These include U.S. antidumping and countervailing duties exceeding 1,000% on Russian ferrosilicon, as well as additional tariffs on imports from Malaysia, Kazakhstan, and Brazil expected by March 2025. The European Commission’s probe into silicon imports could also increase prices and strengthen Ferroglobe’s market position.
There’s hope for a recovery in global steel output in late 2025, which would lift demand for Ferroglobe’s products. The company has also increased its investment in Coreshell, preparing to benefit from silicon’s growing role in EV battery technology.
While trade policy remains a strong factor, Ferroglobe PLC (NASDAQ:GSM) expects 2025 adjusted EBITDA between $100 million and $170 million, based on stronger demand later in the year. Early signs of stable prices in silicon metal and manganese alloys suggest better profits ahead. As Ferroglobe adapts, it’s well-placed to seize new opportunities in the global market.
Overall, Ferroglobe PLC (NASDAQ:GSM) ranks first on our list of the Best Mining Penny Stocks to Buy Now. While we acknowledge the potential of GSM, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GSM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
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