10 Best Gold Stocks to Invest in for Portfolio Diversification

8. Pan American Silver Corp. (NYSE:PAAS)

Number of Hedge Fund Holders: 29

Pan American Silver Corp. (NYSE:PAAS) engages in the exploration, mine development, and extraction of silver, gold, zinc, lead, and copper mines. The stock was on a roll, rallying 91% in 2024 as the company achieved its 2024 production guidance and entered 2025 with a record cash balance. The basic material company achieved 21.1 million ounces of silver and 892,000 ounces of gold. It also achieved its production targets on zinc, lead, and copper, further strengthening its revenue base.

The strong production was the catalyst behind Pan American Silver Corp. (NYSE:PAAS) achieving cash and short-term investment of $887.3 million. Consequently, Pan American Silver remains in a solid financial position to execute its strategic targets aimed at generating shareholder value in 2025. The company is increasingly investing in exploration activities to find new deposits and extend its current resources. It has already discovered 1.2 million ounces of new gold-inferred mineral resources at the Jacobina mine, which is expected to be a key driver of long-term value.

Pan American Silver Corp. (NYSE:PAAS) is actively investing in capital projects to increase its production capacity and operational efficiency. The new Pace plant at its Bell Creek mine in Timmins, Ontario, is one of the major initiatives. The plant should boost overall profitability by increasing ore recovery and lowering tailings disposal costs.