5 Best Canadian Gold Stocks To Buy Now

In this piece, we will take a look at the 11 best Canadian gold stocks to buy now. If you want to take a deeper look at the gold industry, then read 11 Best Canadian Gold Stocks To Buy Now.

5. Wheaton Precious Metals Corp. (NYSE:WPM)

Number of Hedge Fund Investors in Q2 2023: 24

Wheaton Precious Metals Corp. (NYSE:WPM) is another precious metals company that buys products from mines and then sells them to buyers. Like other streaming companies, the majority of its stock is also owned by institutional investors, and the shares are rated Strong Buy on average.

24 out of the 910 hedge funds part of Insider Monkey’s Q2 2023 research had bought and invested in Wheaton Precious Metals Corp. (NYSE:WPM)’s shares. Jean-Marie Eveillard’s First Eagle Investment Management is the largest stakeholder among these courtesy of its $879 million stake.

4. Alamos Gold Inc. (NYSE:AGI)

Number of Hedge Fund Investors in Q2 2023: 25

Alamos Gold Inc. (NYSE:AGI) operates gold mines in Canada, Mexico, and the U.S. It became one of the first Canadian gold companies to report its third quarter earnings in late October. The results saw Alamos Gold Inc. (NYSE:AGI) grow revenue annually, increase its annual production guidance by 5%, and beat Q3 production guidance as well.

During this year’s June quarter, 25 out of the 910 hedge funds profiled by Insider Monkey were the firm’s investors. Alamos Gold Inc. (NYSE:AGI)’s biggest hedge fund investor is Jean-Marie Eveillard’s First Eagle Investment Management as it owns 9.8 million shares that are worth $117 million.

3. Kinross Gold Corporation (NYSE:KGC)

Number of Hedge Fund Investors in Q2 2023: 26

Kinross Gold Corporation (NYSE:KGC) is a global gold mine operator. The firm is due to release its third quarter earnings in November, and analysts have set an earnings per share estimate of ten cents.

For their second quarter of 2023 shareholdings, 26 among the 910 hedge funds tracked by Insider Monkey had bought and invested in Kinross Gold Corporation (NYSE:KGC)’s shares. Jim Simons’ Renaissance Technologies is the largest shareholder out of these due to its $118 million investment.

2. Barrick Gold Corporation (NYSE:GOLD)

Number of Hedge Fund Investors in Q2 2023: 32

Barrick Gold Corporation (NYSE:GOLD) is one of the largest gold mining companies in the world. Like other Canadian gold companies, strong production and dropping inflation helped the firm beat analyst third quarter profit estimates. At the same time, its costs per ounce also dropped by roughly 8%.

By the end of 2023’s June quarter, 32 hedge funds out of the 910 polled by Insider Monkey were the firm’s stakeholders. Barrick Gold Corporation (NYSE:GOLD)’s biggest investor in our database is Jean-Marie Eveillard’s First Eagle Investment Management as it owns $715 million worth of shares.

1. Agnico Eagle Mines Limited (NYSE:AEM)

Number of Hedge Fund Investors in Q2 2023: 42

Agnico Eagle Mines Limited (NYSE:AEM) is one of the largest gold companies on our list with more than ten thousand employees. The firm’s shares gained slightly at the November start as rival Barrick Gold beat analyst EPS estimates and created momentum for Agnico Eagle Mines Limited (NYSE:AEM)’s third quarter of 2023 earnings.

As of Q2 2023, 42 out of the 910 hedge funds part of Insider Monkey’s database were Agnico Eagle Mines Limited (NYSE:AEM)’s investors. Jean-Marie Eveillard’s First Eagle Investment Management owns the largest stake among these which is worth $313 million and comes through 6.2 million shares.

Disclosure: None. You can also take a look at Billionaire Ray Dalio’s 15 Best Stock Picks and 12 Best Performing NASDAQ Stocks in 2023.

Follow Insider Monkey on Twitter