In this article, we discuss the 13 Best Precious Metals Stocks to Buy According to Analysts.
Gold prices set new records in early 2025, driven by growing interest in gold as a safe haven asset amid rising tariffs and trade wars between the United States and China. The precious metal exceeded $3,000/oz recently. Lately, gold is acting both as a hedge against inflation and a competitor to yield-earning assets like the US Treasurys. This has created what analysts call a “smile profile,” where gold tends to go up whether US yields rise or fall. Natasha Kaneva, head of Global Commodities Strategy at J.P. Morgan, commented:
“We maintain our multi-year bullish outlook on gold. From a macro perspective, a universal tariff scenario would likely supercharge the broad price effects for precious metals. Boosted economic growth concerns and higher inflation risks could continue to fuel strong investor demand for gold.”
Similarly, Jim Wyckoff, a senior analyst at Kitco Metals, said on April 15:
“Traders are waiting for the next major fundamental development to drive the gold market, but the charts remain bullish. There’s still safe-haven demand.”
In line with that, European private banking firm Commerzbank wrote in a note to investors:
“The rise in the gold price is also partly in line with the continuing weakness of the dollar, which points to a gradual erosion of the U.S. currency’s status as a safe asset – gold is likely to be an alternative for many USD investors.”
Goldman Sachs has lifted its gold price forecast from $3,300 to $3,700 per ounce by the end of 2025. This forecast is supported by higher central bank purchases and increased ETF inflows amid growing global economic uncertainty. President Trump’s unpredictable trade policies are the basis for this market upheaval. While gold remains a haven in volatile times, it lacks income-generating potential and incurs storage costs. Still, mining stocks are also gaining appeal, with lower energy costs boosting profits.
According to the Silver Institute, the silver market is moving towards its fifth consecutive year of a supply deficit in 2025, with demand exceeding supply again. Industrial use, especially in green tech, electric vehicles, and electronics, is driving much of this demand and is expected to reach a new record this year. Prices also rebounded in early 2025, partly due to growing uncertainty around President Trump’s potential tariff policies, which have resulted in more short covering and deliveries of silver into CME warehouses. At the same time, ongoing global and economic concerns have helped push investors back toward safe-haven assets like silver.
Still, silver investment has faced some challenges. Ongoing concerns about China’s economy have held back demand, and the persistently high gold-to-silver ratio suggests that investors still favor gold. Overall, silver demand is expected to stay steady at around 1.2 billion ounces. While industrial and retail investment will rise, jewellery and silverware demand, especially in India, is expected to fall due to high local prices.
With that outlook in mind, let’s take a look at the best precious metals stocks to buy.
A golden nugget illuminated under direct lighting, hinting at the value of precious metals.
Our Methodology
For this article, we searched multiple credible websites to compile a large list of US-listed precious metals stocks. Next, we manually searched for the average upside potential of each stock and selected 13 stocks with the highest values. The list below is ranked in ascending order of the upside potential as of April 16. We have also mentioned the hedge fund sentiment as per Insider Monkey’s database of Q4 2024.
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).
13. Skeena Resources Limited (NYSE:SKE)
Number of Hedge Fund Holders: 10
Average Upside Potential: 17.09%
Skeena Resources Limited (NYSE:SKE) is a Canadian mining company that explores and develops precious metal deposits, including gold, silver, and copper. The company was founded in 1979 and is headquartered in Vancouver. On February 26, SKE closed a huge financing deal that raised nearly C$88.3 million. The company sold 3.29 million common shares at C$14.70 each and 2.23 million flow-through shares at C$17.93 each. This money will be utilized to finance the Eskay Creek gold-silver project, with the rest going toward general company needs. It is one of the best metal stocks to invest in.
On February 14, 2025, Skeena Resources Limited (NYSE:SKE) and its subsidiary QuestEx Gold & Copper invested strategically in TDG Gold Corp by purchasing 22 million shares for C$11 million. The acquisition was financed by selling QuestEx’s Sofia property for $4 million and a C$7 million cash payment. Before this deal, Skeena only held 1 million shares of TDG, but now it owns 23 million shares, making up roughly 13% of the company.
According to Insider Monkey’s fourth quarter database, 10 hedge funds were bullish on Skeena Resources Limited (NYSE:SKE), compared to 9 funds in the prior quarter.
12. Barrick Gold Corporation (NYSE:GOLD)
Number of Hedge Fund Holders: 44
Average Upside Potential: 18.72%
Barrick Gold Corporation (NYSE:GOLD) is a Canadian mining company based in Toronto that focuses on exploring, developing, and producing gold and copper, but also has interests in silver and other energy materials. Barrick is one of the best metal stocks to monitor. On March 31, Citi analyst Alexander Hacking maintained a Neutral rating on GOLD and raised the price target from $17 to $21. According to the analyst, the company is expected to report Q1 EBITDA of $1.7 billion and an EPS of $0.29, marginally beating estimates. Strong performance from its PV operation and a $500+ rise in gold prices are set to strengthen earnings, with cost inflation largely under control.
On April 4, Barrick Gold Corporation (NYSE:GOLD) announced that it is targeting a 30% increase in production by 2030, backed by strong results in 2024, including a 69% increase in net earnings and double the free cash flow from 2023. Significant projects like Pueblo Viejo, Porgera, Reko Diq, and Lumwana are driving growth, especially in copper. The company also repurchased $498 million in shares and remains focused on long-term growth.
According to Insider Monkey’s fourth quarter database, 44 hedge funds were bullish on Barrick Gold Corporation (NYSE:GOLD), compared to 42 funds in the prior quarter. Jean-Marie Eveillard’s First Eagle Investment Management was the largest stakeholder of the company, with 46.5 million shares valued at $721.8 million.
11. MAG Silver Corp. (NYSE:MAG)
Number of Hedge Fund Holders: 11
Average Upside Potential: 25.28%
MAG Silver Corp. (NYSE:MAG) ranks 11 on our list of the best metal stocks. MAG is a Vancouver-based mining company focused on exploring and developing silver, gold, lead, copper, and zinc projects across Canada, the United States, and Mexico. In November 2024, H.C. Wainwright maintained a Buy rating on MAG Silver Corp. (NYSE:MAG) and raised the target price to $20 from $18, citing strong earnings for the third quarter of 2024. The boost came mainly from increased earnings at its Juanicipio project, which saw a 41% rise in revenue. The company also had $113.5 million in cash and no long-term debt at the end of September 2024.
On March 24, MAG Silver Corp. (NYSE:MAG) declared a new dividend policy. It plans to distribute a fixed dividend of $0.02 per share every quarter. On top of that, if silver prices stay above $20 per ounce, the company will add a bonus dividend tied to the cash flow from their Juanicipio project, roughly 30% of what they earn each quarter. For Q4 2024, MAG announced a $0.18 per share dividend, consisting of the regular $0.02 and a $0.16 cash flow-based bonus dividend. It will be distributed on April 21 to shareholders listed by April 4.
According to Insider Monkey’s fourth quarter database, 11 hedge funds held stakes in MAG Silver Corp. (NYSE:MAG), the same as the prior quarter. Eric Sprott’s Sprott Asset Management was a notable stakeholder of the company, with 2.6 million shares worth $36 million.
10. Caledonia Mining Corporation Plc (NYSE:CMCL)
Number of Hedge Fund Holders: 7
Average Upside Potential: 34.92%
Caledonia Mining Corporation Plc (NYSE:CMCL) is a Jersey-based gold mining company that owns a major stake in Zimbabwe’s Blanket Mine, as well as additional gold projects in Zimbabwe. On December 16, 2024, Maxim Group started coverage of CMCL with a Buy rating and a price target of $17. According to the investment firm, the company is on the path to solid growth, with gold production projected to reach 85,000 ounces by 2026 and a long-term goal of 200,000 ounces annually. The company plans to use its cash flow for mine development, new projects, and maintaining its 5.4% dividend.
Caledonia Mining Corporation Plc (NYSE:CMCL) achieved a new record at its Blanket Mine in Q1 2025, producing 18,671 ounces of gold, exceeding both last year’s 17,050 ounces and the last Q1 high set in 2022. The mine also milled over 201,000 tonnes of ore, exceeding expectations by 13.4%, which led to a growing surface stockpile as production outpaced milling capacity. The company is still on track to meet its 2025 gold production target of 74,000 to 78,000 ounces.
According to Insider Monkey’s Q4 database, 7 hedge funds held stakes in Caledonia Mining Corporation Plc (NYSE:CMCL), compared to 9 funds in the prior quarter. William B. Gray’s Orbis Investment Management was the largest stakeholder of the company, with 782,501 shares valued at $7.36 million.
9. Endeavour Silver Corp. (NYSE:EXK)
Number of Hedge Fund Holders: 19
Average Upside Potential: 37.41%
Endeavour Silver Corp. (NYSE:EXK) is a Vancouver-based mining company that works on discovering and developing silver and gold projects in Mexico, Chile, and the United States. EXK is one of the best metal stocks to monitor. On April 10, H.C. Wainwright reaffirmed a Buy rating on EXK with a price target of $7.25. Endeavour Silver’s production dropped recently, mainly because of lower output at the Guanaceví mine, though the higher silver grades at Bolañitos helped balance things out. H.C. Wainwright expects a significant boost in production starting in late 2025, especially with the upcoming Terronera project and the recent Kolpa acquisition.
On April 8, Endeavour Silver Corp. (NYSE:EXK) concluded a prospectus offering, raising $45 million by issuing 11.6 million shares at $3.88 each. The money will be used to finance the $145 million purchase of Compañia Minera Kolpa S.A. and its Huachocolpa Uno Mine. The deal is still waiting on regulatory approvals but is expected to close in about 60 days.
According to Insider Monkey’s fourth quarter database, 19 hedge funds were bullish on Endeavour Silver Corp. (NYSE:EXK), up from 9 funds in the preceding quarter. D E Shaw was the leading stakeholder of the company, with 2.36 million shares worth $8.6 million.
8. Coeur Mining, Inc. (NYSE:CDE)
Number of Hedge Fund Holders: 37
Average Upside Potential: 37.56%
Coeur Mining, Inc. (NYSE:CDE) is a Chicago-based producer of gold and silver in the United States, Canada, and Mexico. The company focuses on mining gold, silver, zinc, lead, and other metals. It is one of the best metal stocks to invest in. On April 1, Raymond James analyst Brian MacArthur assigned an Outperform rating on CDE with a price target of $8.50, up from the previous target of $8.25. According to the analyst, CDE’s first-quarter results will be impacted by the SilverCrest acquisition and tax payments. In 2025, production is expected to increase due to the full integration of Las Chispas and growth at Rochester, with gold production estimated between 380,000 and 440,000 ounces and silver production between 16.7 to 20.3 million ounces.
Coeur Mining, Inc. (NYSE:CDE) reported $305 million in revenue and $64 million in operating cash flow during the fourth quarter of 2024. The company earned $38 million in net income, or $0.08 per share, in Q4. For the full year, the company generated $1.1 billion in revenue and $174 million in operating cash flow, with a net income of $59 million, or $0.15 per share. Gold production was up 8% and silver production rose 11% in 2024, both hitting the company’s targets. CDE ended last year with $85 million in free cash flow.
According to Insider Monkey’s fourth quarter database, 37 hedge funds were bullish on Coeur Mining, Inc. (NYSE:CDE), compared to 28 funds in the prior quarter. John Overdeck and David Siegel’s Two Sigma Advisors was the largest stakeholder of the company, with 5 million shares worth over $29 million.
7. Aris Mining Corporation (NYSE:ARMN)
Number of Hedge Fund Holders: N/A
Average Upside Potential: 38.01%
Aris Mining Corporation (NYSE:ARMN) is a gold-focused mining company based in Vancouver, Canada. It operates and develops gold, silver, and copper projects across Canada, Colombia, and Guyana. It is one of the best metal stocks to invest in, ranking 7th on our list.
Aris Mining Corporation (NYSE:ARMN) recorded its highest-ever quarterly gold production at 57,364 ounces in Q4 2024. The company also recorded $22 million in net income and $67 million in EBITDA for the quarter. ARMN is planning to increase the capacity of its in-progress Lower Mine by 25%, from 4,000 to 5,000 tonnes per day, bringing the total construction cost to $290 million. The ramp-up at its Marmato mine is expected to start in the second half of 2026. Aris ended the year with a solid cash position of $253 million, driven by strong cash flow and refinancing initiatives.
In the first quarter of 2025, the company produced 54,763 ounces of gold, an 8% increase from the same period last year. Most of the gold came from the Segovia mine, with the Marmato Upper Mine adding 7,214 ounces. With the expanded Segovia processing plant set to launch in Q2 this year, Aris Mining Corporation (NYSE:ARMN) expects production to increase even more. For the full year, Aris is targeting between 230,000 and 275,000 ounces of gold.
6. Vox Royalty Corp. (NASDAQ:VOXR)
Number of Hedge Fund Holders: 6
Average Upside Potential: 43.6%
Vox Royalty Corp. (NASDAQ:VOXR) is a mining royalty company based in Westminster, Colorado. It holds multiple royalties for precious metals projects across Australia, Canada, the United States, South Africa, Brazil, and Peru. On March 13, the company announced a new share buyback plan, allowing it to repurchase up to $1.5 million of its common shares. The program follows US securities laws and can be paused or concluded at any time. Vox did not buy back any shares under its last repurchase plan.
Vox Royalty Corp. (NASDAQ:VOXR) recorded an all-time high operating cash flow of $5.46 million in 2024, slightly higher than 2023. Admin costs were reduced by 9%, while annual revenue came in at $11.05 million, lower than 2023 due to a one-time milestone payment last year. The company ended the year with $11.67 million in cash and receivables, $9.23 million in working capital, and a fully undrawn $15 million credit facility. It also raised its quarterly dividend by 9.1% and acquired five new Australian royalty assets, including Castle Hill, which entered production in Q3 2024.
According to Insider Monkey’s fourth quarter database, 6 hedge funds were bullish on Vox Royalty Corp. (NASDAQ:VOXR), compared to 5 funds in the last quarter.
5. Perpetua Resources Corp. (NASDAQ:PPTA)
Number of Hedge Fund Holders: 14
Average Upside Potential: 46.07%
Perpetua Resources Corp. (NASDAQ:PPTA) is an American development-stage mining company working on its primary venture, the Stibnite Gold Project, in Idaho. This site spans over thousands of hectares and holds deposits of gold, silver, and antimony. It is one of the best metal stocks to look out for.
On January 8, H.C. Wainwright maintained a Buy rating on Perpetua Resources Corp. (NASDAQ:PPTA) and increased the price target to $25 from $22. According to the investment firm, PPTA got approval from the US Forest Service for its Stibnite Gold project, marking a major milestone after eight years of reviews and public input. The site holds 4.8 million ounces of gold and 148 million pounds of antimony. The company plans to produce 450,000 ounces of gold annually in the first four years and could meet up to 35% of US antimony demand early on.
Perpetua Resources Corp. (NASDAQ:PPTA) has officially joined the VanEck Junior Gold Miners ETF (NYSE:GDXJ) after the fund’s quarterly rebalance on March 21, 2025. The inclusion highlights the growing interest in Perpetua’s Stibnite Gold Project, one of the most promising gold developments in the United States and a potential domestic source of the critical mineral antimony.
According to Insider Monkey’s fourth quarter database, 14 hedge funds were bullish on Perpetua Resources Corp. (NASDAQ:PPTA), compared to 12 funds in the prior quarter. John Paulson’s Paulson & Co. was the leading stakeholder of the company, with 24.7 million shares valued at $264.3 million.
4. Vizsla Silver Corp. (NYSE:VZLA)
Number of Hedge Fund Holders: 8
Average Upside Potential: 47.06%
Vizsla Silver Corp. (NYSE:VZLA) is a Canadian mining company involved in discovering and developing precious metal resources. Its main asset is the Panuco-Copala silver-gold project in Mexico, where VZLA holds 100% ownership. It ranks 4th on our list of the best metal stocks to invest in.
On January 24, BMO Capital Markets maintained an Outperform rating on Vizsla Silver Corp. (NYSE:VZLA) with a price target of $4.50. BMO Capital pointed to Vizsla’s Panuco project in Mexico as a high-potential silver and gold asset. The firm believes the project’s size and cost efficiency make it one of the top silver developments out there. Right now, Vizsla’s stock is trading at about half of BMO’s estimated value, suggesting room for growth. With production targeted for 2027 and several notable milestones expected this year, analysts are optimistic about a possible re-rating of the stock.
On March 31, Vizsla Silver Corp. (NYSE:VZLA) announced a major discovery at its Panuco site. The new drill results, located about six kilometers from the main resource area, revealed multiple high-grade sections of silver and gold. One of the standout intervals showed over 2,200 grams per tonne of silver equivalent. This discovery adds exciting potential to the ongoing exploration at the site.
According to Insider Monkey’s Q4 data, 8 hedge funds reported owning stakes in Vizsla Silver Corp. (NYSE:VZLA), the same as the prior quarter.
3. Integra Resources Corp. (NYSE:ITRG)
Number of Hedge Fund Holders: 5
Average Upside Potential: 63.53%
Integra Resources Corp. (NYSE:ITRG) is a Vancouver-based mining company exploring and developing gold and silver projects across the western US. The company has a number of early-stage exploration properties in Idaho, Nevada, and Arizona. ITRG is one of the best metal stocks to buy.
Integra became a gold producer in November 2024 after acquiring Florida Canyon Gold. From then until year-end, the company produced nearly 11,000 ounces of gold, contributing to a record 72,229 ounces for the full year, which exceeded expectations. Integra Resources Corp. (NYSE:ITRG) posted $9.5 million in net income for Q4 and ended 2024 with $52.2 million in cash and $64.4 million in working capital, while spending $14.2 million on exploration projects.
On March 27, H.C. Wainwright assigned a Buy rating to Integra Resources Corp. (NYSE:ITRG) and lifted the price target to $2.75 from $2. Analysts see Integra’s pivot from being a gold developer to an actual producer, especially with cash flowing in from the Florida Canyon operation, as a major step forward. With over $50 million in cash and strong financials, analysts are optimistic about the company’s strong growth potential.
According to Insider Monkey’s fourth quarter database, 5 hedge funds were bullish on Integra Resources Corp. (NYSE:ITRG), compared to 3 funds in the prior quarter. GMT Capital was the largest stakeholder of the company, with 15.7 million shares valued at $13.5 million.
2. U.S. Gold Corp. (NASDAQ:USAU)
Number of Hedge Fund Holders: 5
Average Upside Potential: 85.83%
U.S. Gold Corp. (NASDAQ:USAU) is a Nevada-based explorer and developer of gold and other precious metal projects in the United States. It is one of the best metal stocks to invest in. On February 12, H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on U.S. Gold Corp. (NASDAQ:USAU) and raised the price target to $14 from $13. The company got a boost from the investment advisory after sharing updated plans for its CK Gold Project. The study shows the site could produce around 1.11 million gold equivalent ounces over the next decade, with especially strong output in the first few years.
On February 26, U.S. Gold Corp. (NASDAQ:USAU) received a BBB rating from Digbee Limited for its CK Gold Project, showing that the company is on the right track with its sustainability efforts. The rating reflects USAU’s commitment to responsible practices, like engaging with local communities, protecting the environment, and maintaining strong business standards.
According to Insider Monkey’s fourth quarter database, 5 hedge funds reported owning stakes in U.S. Gold Corp. (NASDAQ:USAU), compared to 2 funds in the preceding quarter. Jim Simons’ Renaissance Technologies was the biggest stakeholder of the company, with 93,900 shares valued at $575,607.
1. U.S. GoldMining Inc. (NASDAQ:USGO)
Number of Hedge Fund Holders: 2
Average Upside Potential: 152.38%
U.S. GoldMining Inc. (NASDAQ:USGO) is a new exploration and mine development company focused on the Whistler gold-copper project in Alaska. The company went public in April 2023 by raising $20 million through its IPO. USGO stands first on our list of the best metal stocks to buy, with an average upside potential of nearly 150%.
On February 5, H.C. Wainwright assigned a Buy rating on U.S. GoldMining Inc. (NASDAQ:USGO) with a $26.50 price target. The firm noted that USGO is making solid progress at its Whistler Gold-Copper Project. Latest drilling results from early 2024 look promising, especially from holes WH24-03 and WH24-04, which could support the company’s future growth.
U.S. GoldMining Inc. (NASDAQ:USGO) initiated a preliminary economic assessment for its Whistler Gold-Copper Project on April 15, aiming to get a clearer picture of the site’s potential. The project already shows promising numbers, with over 10 million gold-equivalent ounces in resources. This move comes after record-breaking drill results in 2023 and 2024 and at a time when gold prices are soaring.
According to Insider Monkey’s fourth quarter database, 2 hedge funds were bullish on U.S. GoldMining Inc. (NASDAQ:USGO), with total stakes worth $358,000.
Overall, USGO ranks first among the 13 Best Precious Metals Stocks To Buy According To Analysts. While we acknowledge the potential of precious metals stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than USGO but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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