5 Biggest Gold Companies in Canada

In this piece, we will take a look at the five biggest gold companies in Canada. For background on the industry, and additional stocks, head on over to 10 Biggest Gold Companies in Canada.

5. Franco-Nevada Corporation (NYSE:FNV)

Number of Hedge Fund Holders: 25

Franco-Nevada Corporation (NYSE:FNV) is a precious metal and energy company. The firm mines gold, silver, platinum, oil, and gas. It is headquartered in Toronto, Canada.

Franco-Nevada Corporation (NYSE:FNV)’s business model lends it strength in the current environment, as while prices of gold have fallen and hurt gold companies, those for energy are piping upwards. Subsequently, the firm’s revenue grew by 1% in its second quarter. While this growth appears unimpressive on its own, the year-ago reading had seen revenue grow by 35% and left Franco-Nevada Corporation (NYSE:FNV) in a tough spot to further grow the net sales. More importantly, the company’s gold equivalent sales of 191,000 also declined by only 1% annually, even though it was smack in the middle of an industry downturn.

Insider Monkey’s Q2 2022 survey of 895 hedge funds outlined that 25 had bought a stake in Franco-Nevada Corporation (NYSE:FNV).

Franco-Nevada Corporation (NYSE:FNV)’s largest investor is Jim Simons’ Renaissance Technologies which owns 4.3 million shares that are worth $567 million.

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

Number of Hedge Fund Holders: 27

Wheaton Precious Metals Corp. (NYSE:WPM) sells gold and precious metals in Canada and globally. The company has one of the more diverse asset bases in the industry, as it owns more than 30 mines and development projects.

Wheaton Precious Metals Corp. (NYSE:WPM) also has some of the strongest assets among its peers when it comes to lifetime and cost base. More than 80% of its assets are in the second cost quartile, and its proven reserves have an estimated life of 29 years, providing Wheaton Precious Metals Corp. (NYSE:WPM) with a stable source of revenue for decades. Additionally, Wheaton Precious Metals Corp. (NYSE:WPM) has a fortress of a balance sheet, with $449 million of cash and equivalents and no debt to burden its operating income.

As this year’s second quarter ended, 27 out of the 895 hedge funds polled by Insider Monkey had invested in Wheaton Precious Metals Corp. (NYSE:WPM).

Out of these, Wheaton Precious Metals Corp. (NYSE:WPM)’s largest investor is Jean-Marie Eveillard’s First Eagle Investment Management which owns 17 million shares that are worth $613 million.

3. Yamana Gold Inc. (NYSE:AUY)

Number of Hedge Fund Holders: 28

Yamana Gold Inc. (NYSE:AUY) is a precious metals company that produces gold and silver in Brazil, Argentina, Chile, and Canada. The firm is based in Toronto, Canada.

Yamana Gold Inc. (NYSE:AUY) produced 216,000 ounces of gold in its third quarter, which ended up exceeding its guidance. During that time period, the firm’s Malartic and Jacobina mines produced more than 50,000 ounces of gold and ended up setting a new all time production record. Yamana Gold Inc. (NYSE:AUY) is also in the process of an acquisition deal that will see the firm sold to another company for a 42% premium. The firm pays a 3 cent dividend for a 2.68% yield, and its share price has grown by close to 9% year to date.

Insider Monkey analyzed 895 hedge fund portfolios for Q2 2022 and found out that 28 had bought Yamana Gold Inc. (NYSE:AUY)’s shares.

Yamana Gold Inc. (NYSE:AUY)’s largest investor is Alec Litowitz and Ross Laser’s Magnetar Capital which owns 20 million shares that are worth $96 million.

2. Agnico Eagle Mines Limited (NYSE:AEM)

Number of Hedge Fund Holders: 31

Agnico Eagle Mines Limited (NYSE:AEM) is one of the older Canadian gold mining companies as it was set up in 1953 and is based in Toronto. The firm explores for and sells gold deposits.

Agnico Eagle Mines Limited (NYSE:AEM) grew its gold production to 816,800 ounces during the third quarter, which also saw its year to date production jump to 2.48 million ounces to mark a remarkable 58% growth. This also led to the third quarter and year to date revenue growing to $1.45 billion and $4.35 billion, respectively. This performance stands out against the industry which has suffered from dropping production and growing costs this year.

Agnico Eagle Mines Limited (NYSE:AEM) pays a 40 cent dividend for a 3.54% yield. As part of their second quarter of 2022 investments, 31 out of the 895 hedge funds polled by Insider Monkey had invested in Agnico Eagle Mines Limited (NYSE:AEM).

Agnico Eagle Mines Limited (NYSE:AEM)’s largest investor is Rajiv Jain’s GQG Partners which owns 17.4 million shares that are worth $798 million.

1. Barrick Gold Corporation (NYSE:GOLD)

Number of Hedge Fund Holders: 40

Barrick Gold Corporation (NYSE:GOLD) explores, develops, and sells gold and copper mining properties. The firm has assets in Congo, Mali, Canada, Argentina, and a host of other countries.

Barrick Gold Corporation (NYSE:GOLD) is a highly cost efficient firm, and despite the current gold price of  $1,645 per ounce being near two year lows, the firm can still continue its operations even if the price were to dip to $1,250. Additionally, the firm’s sustaining capital, which is the amount it needs to spend to keep up with production, is slated to drop to $1.37 billion next year and $1.15 billion in 2024 over the current reading of $1.55 billion.

Insider Monkey’s Q2 2022 survey of 895 hedge funds revealed that 40 had held a stake in Barrick Gold Corporation (NYSE:GOLD). The firm has a 2.64% dividend yield.

Jean-Marie Eveillard’s First Eagle Investment Management is Barrick Gold Corporation (NYSE:GOLD)’s largest investor. It owns 26 million shares that are worth $471 million.

Disclosure: None. You can also take a look at 10 Best ESG Stocks to Invest In and 10 Best Cybersecurity Stocks To Buy Under $20.

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