In this article, we will look at the Top 10 Gold Stocks with Dividends.
Gold’s performance as an asset in 2024 has been immaculate, despite increasing global constraints. The price for it crossed the $2,900 per ounce mark, driven by strong purchasing by the central bank, increased investor demand, and its role as a hedge against economic uncertainties. Gold’s value as a safe haven increased due to inflationary concerns and increasing geopolitical instabilities, gaining interest from retail and institutional investors.
Total gold demand, including over-the-counter (OTC) investments, has reached a record high of 4,974 metric tons in 2024, as per the World Gold Council. This increase was majorly driven by central banks, which contributed over 1,000 metric tons of gold to the demand for the third consecutive year. Particularly central banks in emerging markets, such as China and India, looked to increase their gold reserves to diversify away from the U.S. dollar. Gold provided an astonishing return of 43.83% for the previous year, significantly above the broader market’s 20.89% gain for the same period.
The investment market for gold has seen major changes, where gold exchange-traded funds (ETFs) reported no major outflows for the first time since 2020, which marks a reversal from previous years of heavy liquidations. Moreover, physical demand for gold has been strong, with purchasing for bar and coins remaining stable at 1,186 metric tons. Technology-driven gold usage has also seen a surge of 7%, driven by the expansion of artificial intelligence and semiconductor industries. These industries rely on gold components for high-performance electronics.
Despite the overall strong performance of the market, gold jewelry demand saw a decrease of 11% in 2024 due to high prices, making it less affordable for consumers. Nevertheless, total spending on gold jewelry in monetary terms increased by 9%, highlighting the overall impact of increasing gold prices. The contrasting situation with lower demand for gold jewelry and high demand for investment highlights the changing role of gold in the global economy.
Market experts and top financial institutions hold a positive outlook on gold’s trajectory for 2025. Goldman Sachs has recently revised its forecast for the gold price to $3,100 per ounce, citing the enhancing accumulation by the central bank and increasing investor interest. Likewise, analysts from J.P. Morgan have projected that gold prices could increase to $3,000 per ounce if macroeconomic instability continues.
Looking ahead, the gold market is being influenced by global monetary policies as well. As per J.P Morgan, major economies like the U.S. and Europe looking to cut down interest rates and lower return on traditional investments will likely drive up the demand for gold. Historically, the opportunity cost of holding gold reduces as traditional investments produce lower yields, increasing prices.
Conclusively, under these circumstances, investment in gold stocks has become a lucrative opportunity for investors looking to gain from the metal’s performance while generating hefty returns through dividends. Gold mining companies with strong financial performance, continual dividends, and major hedge fund backing provide a golden opportunity to enter the sector.
With these factors, let’s look into the Top 10 Gold Stocks with Dividends, which provide a combination of price appreciation potential and stable shareholder returns.
Aerial view of a gold mine, with its winding roads and pits.
Methodology
To come up with our list of the Best Gold Dividend Stocks to Buy Now, we first recognized companies in the gold sector, offering dividend payments, along with posing strong market capitalizations. We then shortlisted stocks by looking into hedge fund interest, as stocks with strong hedge fund backing often point to stable financials and growth potential.
To rank these stocks, we used Insider Monkey’s Hedge Fund Database as of Q4 2024. The companies were sorted on the basis of the number of hedge funds invested in them, ranking companies with the highest hedge fund interest in ascending order.
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. AngloGold Ashanti plc (NYSE:AU)
Number of Hedge Funds Holders: 31
AngloGold Ashanti plc (NYSE:AU) is one of the top gold mining companies with operations spanning across Africa, Australia, South America, and North America. The company’s key assets include its Geita mine in Tanzania.
The company produced strong financial results for the period ended December 31, 2024, reporting a cash flow of $942 million, a strong increase from $109 million in 2023, owing to efficient cost management and soaring gold prices. AngloGold Ashanti plc (NYSE:AU) reported an almost doubled adjusted EBITDA of $2.75 billion, benefiting from an increase of 24% in the average realized price of gold, year-on-year, now at $2,394 per ounce.
AngloGold Ashanti benefited from operational improvements across a number of key sites, including its Australian mines, which recovered from weather-related disruptions. This also includes the strengthening of its operations in Brazil, following the recommencement of concentrate processing at Queiroz. The company’s Obuasi mine in Ghana generated a strong free cash flow of $26 million.
Moreover, the company was able to further strengthen its portfolio by signing a $70.4 million deal to take over a majority stake in Matsa Resources’ Lake Carey gold project in Western Australia. The project potentially holds around 949,000 ounces of mineral resources, as well as 104,000 ounces of mineral reserves. This acquisition has strengthened the company’s asset base in a key mining area, furthering its expansion strategy.
Additionally, AngloGold Ashanti plc (NYSE:AU) has revised its dividend policy, reinforcing its commitment to shareholder returns. The company announced an interim dividend of $0.69 cents for the latter half of 2024, increasing the accumulated annual payout to 91 cents per share. The company is targeting a payout of 50% of its free cash flow, with a base dividend of $0.50 per share annually, under its new policy. This policy ascertains stable returns to investors while preserving financial flexibility.
Under these positive changes, the share price for AngloGold Ashanti plc (NYSE:AU) has increased by 45.31%, year-on-year, demonstrating investor confidence in the company’s strategic expansion and financial stability. Thus, the company remains an attractive investing opportunity for investors looking for growth and income, as it optimizes costs and focuses on expansion to remain a top choice among the best gold stocks offering dividends.
9. Pan American Silver Corp. (NYSE:PAAS)
Number of Hedge Funds Holders: 35
Pan American Silver Corp. (NYSE:PAAS) is a strong player in the precious metals industry, gaining from its diversified mining portfolio across the Americas.
The company reported strong financials for 2024, attaining a record revenue of $2.8 billion through a full-year production from the acquired Yamana assets and strong metal prices. Pan American Silver Corp.’s (NYSE:PAAS) silver production reached 21.1 million ounces, while gold production hit a record 892,000 ounces, aligning with its projections as it navigates through cost pressures.
Further, the company reported an all-time high free cash flow of $445.1 million for the full year, reinforcing its strong margins and efficient operations. It has been able to return capital to its shareholders through dividends and share buybacks due to its strong financials. For Q1 2025, Pan American Silver Corp. (NYSE:PAAS) was able to repurchase around $20 million worth of shares, adding to its total buybacks, bringing its total to 2.6 million shares. Moreover, the company declared a per-share dividend of $0.10, adding to the total payout of $145.4 million over the year in dividends. Pan American Silver has been continuously giving out payouts since 2010, returning over $1 billion to investors in the form of dividends and buybacks.
Additionally, Pan American Silver Corp. (NYSE:PAAS) made key operational strides through several projects in 2024, including a ventilation upgrade at La Colorada, improving throughput, and bringing down costs. Investments in Huaron’s filtration plant and Timmins’ paste backfill facility have driven long-term sustainability. The company has allocated $80 million to reserve replacement in 2025, aligned with its focus on exploration. Furthermore, the company also expects its production to be between 20 to 21 million ounces of silver and 735,000 to 800,000 ounces of gold, in 2025, with cost improvement in the latter of the year.
Conclusively, under Pan American Silver’s strong balance sheet, ongoing operational improvements, and strong shareholder returns, the company is in a secure position among the best gold stocks with dividends.
8. Wheaton Precious Metals Corp. (NYSE:WPM)
Number of Hedge Funds Holders: 36
Wheaton Precious Metals Corp. (NYSE:WPM) is one of the top precious metal streaming companies. Its operations are spread across the Americas and Europe. The company is focused on producing gold, silver, palladium, and cobalt, offering investors exposure to precious metals while avoiding risks associated with traditional mining.
Wheaton Precious Metals Corp. (NYSE:WPM) was able to exceed the expected production of 2024, reporting 633,481 gold equivalent ounces (GEOs) against the expected range of 620,000 GEOs. Such strong performance was enabled by enhanced performance at key assets such as Salobo, which achieved record production in Q4. In 2025, the company expects its production to be between 600,000 and 670,000 GEOs, with the long-term goal forecasted at 870,000 GEOs by 2029. Accordingly, Wheaton is planning to invest in four new assets to contribute to its five-year forecasted growth.
Moreover, the company reported revenue of $313 million for Q4 2024, up by 32.8% year-on-year, made possible due to an increase of 13% in average realized gold equivalent price and a surge of 17% in GEOs sales. The company was able to attain adjusted earnings per share of $0.36, ahead of market expectations. This was an increase of 57% compared to the previous year. Wheaton Precious Metals Corp. (NYSE:WPM) reported a 64.2% year-on-year increase in gold production, up to 113,359 ounces, whereas silver production saw a decrease of 20.6%, down to 4,208 ounces. The company held $546.5 million in cash and a $2 billion undrawn credit facility at the end of 2024, emanating a stable liquidity position.
Additionally, the company reflects a solid hedge against inflation under its strong dividend profile. Wheaton Precious Metals Corp. (NYSE:WPM) declared dividends of around $2.4 billion to date, consistently increasing payouts since 2015. The company paid $0.155 per share in quarterly dividends, with the expected annual dividend to be around $0.62 per share if maintained.
Looking ahead, with a stable production outlook, increasing metal prices, and strong dividend growth, the company is poised for future growth, making it a top pick among the Best Gold Stocks.
7. Alamos Gold Inc. (NYSE:AGI)
Number of Hedge Funds Holders: 37
Alamos Gold Inc. (NYSE:AGI) is a Canadian gold-producing company with operations across Canada, Mexico, and the U.S.
Alamos Gold Inc.’s (NYSE:AGI) stock rose 39.18% year-to-date, demonstrating investor confidence in its long-term growth potential. The company posted record results for Q4 and the full year ended December 31, 2024, with its annual production surging by 7% year-on-year to 567,000 ounces, aligned with the revised projection after the Magino mine acquisition. Alamos Gold reported a full-year revenue of over $1.3 billion, which was an increase of 32% compared to 2023. Furthermore, a free cash flow of $272 million for the year was driven by higher realized gold prices and increased output.
Moreover, the company reported an increase of 31% in its global Proven and Probable Mineral reserves, at 14 million ounces. Acquisition of the Magino mine proved to be important for its growth, along with continued high-grade additions at Island Gold and the induction of an initial 900,000-ounce Mineral Reserve located at Burnt Timber and Linkwood.
Additionally, the company remains well-positioned financially, with $327 million in cash and above $800 million in total liquidity. Alamos Gold Inc. (NYSE:AGI) is continuing its self-funding efficient organic growth strategy, under which Island Gold Phase 3+ expansion and development of the Lynn Lake project fall. These projects are expected to increase production to 900,000 ounces annually by 2028.
Most importantly, the company continued its streak of 15 consecutive years of dividend payouts, highlighting its commitment to shareholder returns. Alamos Gold Inc. (NYSE:AGI) was able to return $41 million in dividends in 2024, with a $0.025 per share dividend declared for Q1 2025, payable on March 27.
Given the company’s strong financials, increasing production, and expanding reserves portfolio, it’s one of the Best Gold Stocks.
6. Franco-Nevada Corporation (NYSE:FNV)
Number of Hedge Funds Holders: 38
Franco-Nevada Corporation (NYSE:FNV), a dominant player in gold-focused royalty and streaming, operates globally, including in South and North America. The company has a broad portfolio of precious metal assets, including silver, platinum group metals, and gold, also yielding profits from gas and oil.
Compared to the $309.5 million revenue generated in the prior year, Franco-Nevada reported $275.7 million in Q3 ended September 30, 2024. However, revenue increased by $33.5 million or 14% year-over-year after eliminating the effect of Cobre Panama, which remains in preservation and safe management. Adjusted net income reached $153.9 million, or $0.80 per share, whereas adjusted EBITDA stood at $236.2 million. Furthermore, the company maintains strong margins as its cash costs per gold equivalent ounce (GEO) remained low at $290 per GEO. Franco-Nevada Corporation (NYSE:FNV) was able to mitigate delays at new mining operations and offset lower-than-expected gold deliveries from Candelaria by taking advantage of record-high gold prices.
Furthermore, the company locked in a major $500 million precious metals streaming deal with Sibanye-Stillwater on December 19, 2024, allowing it to seal long-term gold and platinum deliveries from its mining operations in South Africa, mainly Kroondal, Marikana, and Rustenburg. This deal will result in immediate cash flow and a stable GEO production profile for the next two decades, with a mine life extending beyond 45 years. The company was able to bolster its commitment to strengthening its gold portfolio as the stream was comprised of approximately 70% gold and 30% platinum deliveries.
Moreover, Franco-Nevada Corporation (NYSE:FNV) declared an upsurge in its quarterly dividend to $0.38 per share, payable on March 27, 2025. This signifies the company’s 18th consecutive annual dividend hike and a 5.56% rise from the previous $0.36 per share. Long-term shareholders are earning an effective 13.7% yield on their initial cost base, which also includes those who invested during the company’s 2007 IPO.
Additionally, the shares of the company have climbed by 26.6% on a year-to-date basis, backed by increasing gold prices and a robust streaming portfolio. Thus, it is one of the best gold stocks to buy.
5. Kinross Gold Corporation (NYSE:KGC)
Number of Hedge Funds Holders: 39
Kinross Gold Corporation (NYSE:KGC), a prominent gold producer, specializes in the exploration, acquisition, and development of gold properties across Brazil, Canada, Mauritania, the United States, and Chile.
Kinross, while maintaining cost discipline, generated over 2.1 million gold ounces, delivering a strong performance in 2024. Tasiasts and Paracatu are the company’s flagship operations, contributing to more than half of the total output, while Tasiasts achieved record throughput and production. By taking advantage of its strong operation margins that outplaced gold price increases, Kinross yielded record free cash flow surpassing $1.34 billion. It also set the stage for potential share buybacks in 2025 and solidified its balance sheet by fully repaying its $1 billion long-term loan.
Moreover, Kinross Gold Corporation (NYSE:KGC) declared a quarterly dividend of $0.03 per share, payable on March 20, 2025, reinforcing its commitment to shareholder returns. The company has continually paid a quarterly dividend of $0.03 per share since September 2020, totaling $0.12 per share annually. Kinross has been vigilant in share repurchases, previously canceling 17.6 million shares for $100.2 million under its normal course issuer bid program.
Furthermore, the company is investing in strategic opportunities to fuel its expansion. It has released an announcement of a private placement agreement to acquire 15.41 million shares of Relevant Gold Corp. for $4.62 million. This was announced on February 28, 2025. Kinross Gold Corporation (NYSE:KGC) will possess approximately 19.9% of Relevant Gold’s outstanding shares after this investment. This step aligns with Kinross’s strategy to reinforce its position in the gold exploration industry while assessing future opportunities.
In addition, by reaffirming its guidance of 2 million ounces annually through 2027, Kinross Gold Corporation (NYSE:KGC) preserves a stable outlook. Thus, the company is strongly positioned for future developments, as it has a robust pipeline of projects, including the Great Bear exploration and Red Bird pit development at Bald Mountain, placing it among the best gold stocks to buy.
4. Royal Gold, Inc. (NASDAQ:RGLD)
Number of Hedge Funds Holders: 42
Royal Gold, Inc. (NASDAQ:RGLD), manages and secures precious metal streams, royalties, and related interests across the globe, including Australia, the United States, Chile, and other international markets. The company’s core focus lies in gold, nickel, copper, silver, zinc, and other metals, funding projects at multiple stages of production and exploration.
Royal Gold, Inc. (NASDAQ:RGLD) reported record-breaking results, as it delivered $719 million in annual revenue, up by 19% year-over-year, for the year ended December 31, 2024. Net income rose by 39% to $332 million, whereas operating cash flow increased by 27% to $530 million. Adjusted earnings were reported at $346 million, or $5.26 per share. Gold played a significant role in driving this growth by contributing approximately 76% of total revenue.
Moreover, Royal Gold, Inc. (NASDAQ:RGLD) closed the year debt-free with approximately $1.2 billion in available liquidity, maintaining its strong financial position. Further, Royal Gold was able to return over $105 million to shareholders through dividends in 2024 due to this strength. The company’s annual payout was increased to $1.80 per share for 2025 as the board approved a 24th consecutive annual dividend increase, achieving the longest dividend growth streak in the precious metals industry.
With revenue climbing to a record $203 million or 76,100 gold equivalent ounces (GEO), Royal Gold, Inc. (NASDAQ:RGLD) finished the year strongly with Q4. Surging contributions from key royalty and streaming assets, including Penasquito and Cortez, fueled this strong quarter. Moreover, the company solidified its long-term cash flow potential by broadening its portfolio with a strategic acquisition of a 2.5% royalty on the Cactus copper project in Arizona for $55 million.
Meanwhile, strong financial performance and increasing investor confidence are reflected by Royal Gold’s share price, which has increased by 16.95% year-to-date. Key growth catalysts include throughput expansion at Pueblo Viejo and the boosting of Goldrush, together with feasibility studies on the Comacao expansion and Mount Milligan’s life extension.
Therefore, the company maintains a strong position for continued growth with a disciplined capital allocation strategy and a high-margin business. As such, RGLD is one of the best gold stocks.
3. Barrick Gold Corporation (NYSE:GOLD)
Number of Hedge Funds Holders: 44
Barrick Gold Corporation (NYSE:GOLD) is active in mine developments, exploration, production, and sale of gold and copper properties. The company has an ownership interest in gold mines across the globe, such as the United States, Canada, Argentina, and more, along with copper assets in Zambia, Chile, and Saudi Arabia.
With adjusted net earnings per share climbing by 50% year-over-year to $1.26, Barrick Gold Corporation (NYSE:GOLD) demonstrated a strong performance in Q4 and full-year 2024 ended December 31, 2024. Full-year free cash flow witnessed a twofold increase to $1.3 billion, while EBITDA jumped by 30%. Backed by a strong contribution from Nevada, gold production increased by 15% quarter-over-quarter. Barrick was able to fulfill its production targets for both metals as copper production at Lumwana also achieved record levels.
Moreover, Barrick Gold Corporation (NYSE:GOLD) has declared a quarterly dividend of $0.10 per share for Q4 2024. Its commitment to shareholder returns is demonstrated by its repurchase of 28.675 million shares throughout the year, including 21 million in Q4.
Furthermore, the company reached an aggregate of 89 million ounces of proven and probable reserves by replacing 180% of its annual gold depletion, which added 17.4 million ounces to the total. Owing to the Reko Diq and Lumwana Super Pit Expansion projects, the copper reserves witnessed a 224% rise. Also, Barrick Gold Corporation (NYSE:GOLD) demonstrated the fourth consecutive year of gold reserve replacement at a higher grade, solidifying its focus on organic growth.
With $78 million allotted to 2035, the pre-feasibility study for the Fourmile project is advancing in North America. At Cortez, the company is developing the Robertson open pit project and Hansen extension. With recovery rates anticipated to enhance to 90% by 2026, Pueblo Viejo in Latin America is on the right path to achieve 14 million tons per year of throughput by 2028. Meanwhile, the Reko Diq project has acquired conditional approval for development as its feasibility study has been concluded, setting the company up for robust growth in the coming time.
Fueled by robust financial performance and strategic growth initiatives, the stock has gained 21.47% year-to-date. Barrick Gold Corporation (NYSE:GOLD) maintains a strong position among the Best Gold Stocks to Buy with its key projects such as Reko Diq, Pueblo Viejo, and Fourmile, and its disciplined capital allocation.
2. Agnico Eagle Mines Limited (NYSE:AEM)
Number of Hedge Funds Holders: 53
Agnico Eagle Mines Limited (NYSE:AEM), a gold mining company, is engaged in the expansion, production, and exploration of precious metals. It operates mines in Mexico, Australia, Canada, and Finland, with development and exploration projects across various regions.
Backed by record gold production and well-maintained cost management, Agnico Eagle Mines Limited (NYSE:AEM) achieved a strong performance in Q4 and full-year 2024. Total cash costs stood at $903 per ounce, and the annual gold production achieved 3.49 million ounces, surpassing guidance. With a free cash flow of $2.1 billion for the full year and adjusted earnings of $632 million, the company reported record revenue of $2.2 billion in Q4. Agnico reached substantial margin expansion and elevated gold prices with strong operational efficiency and cost controls.
Furthermore, by bringing total proven and probable gold reserves to 54.3 million ounces, the company solidifies its asset base with a 0.9% increase in mineral reserves. Main contributors included reserve growth at LaRonde, Meliadine, Amaruq, and Macassa, alongside an initial reserve declaration at Wasamac.
Moreover, Odyssey and Detour Lake witnessed major reserve development, with continuous drilling to further assess their long-term potential. Inferred mineral resources jumped nearly 10% while lowering costs by 8%, as the exploration program generated strong results.
In addition, Agnico Eagle Mines Limited (NYSE:AEM) continues to develop significant growth projects. Hope Bay project witnessed a major rise in indicated and inferred resources following successful drilling in Patch 7, while the Upper Beaver project now possesses 2.77 million ounces of gold reserves.
By declaring a quarterly dividend while repurchasing $120 million in shares in 2024, the company reinforces its commitment to shareholder returns. The company returned $800 million to shareholders through dividends that year.
Consequently, the stock has jumped 32.46% year-to-date, demonstrating investor confidence in its growth strategy and robust execution. Agnico Eagle Mines Limited (NYSE:AEM) remains one of the Best Gold Stocks, with its high-quality asset portfolio and efficient capital allocation providing strong long-term growth potential.
1. Newmont Corporation (NYSE:NEM)
Number of Hedge Funds Holders: 69
Newmont Corporation (NYSE:NEM), a leading gold mining company, is engaged in the exploration and production of copper, zinc, lead, silver, and gold. Its operations span the globe, including Canada, Ghana, Australia, and the United States.
Newmont led a transformational year in 2024 as it integrated acquired assets, enhanced its portfolio, and stabilized operations. The company delivered 6.8 million ounces of gold and over 150,000 tons of copper, surpassing its production guidance, for the period ended December 31, 2024. Backed by higher sales volume and strong gold prices, free cash flow garnered $2.9 billion for the year, including a record $1.6 billion in Q4.
Moreover, Newmont Corporation (NYSE:NEM) reported 134.1 million attributable ounces at year-end 2024. The company’s progressive Tier 1 portfolio includes 125.5 million ounces of gold and considerable copper and silver reserves. While Cadia, Lihir, and Ahafo South witnessed negligible drops due to depletion and updates to pit designs, key reserve growth was seen at Boddington and Tanami. Looking ahead, Newmont’s long-term production potential was solidified by exploration efforts that made a significant addition to Brucejack, Ahafo North, and Merian.
Additionally, Newmont is making progress on its key projects, such as expansion at Cadia, Tanami, and Ahafo North. These expansions are anticipated to enhance production capacity and decrease costs in the upcoming years. The company maintains a strong position to capitalize on gold and copper market cycles with a wide-ranging portfolio across stable jurisdictions.
By distributing $2.3 billion in 2024 through dividends and share buybacks, Newmont Corporation (NYSE:NEM) reinforced its commitment to shareholder returns. While keeping $3.6 billion in cash and $7.7 billion in total liquidity, the company enhanced its balance sheet by lowering debt to below $8 billion. The company’s dedication to delivering consistent value to investors is further demonstrated through its stable $1.00 per share annual dividend.
To conclude, the stock has garnered 24.23% year-to-date, underscoring investor confidence in its performance and growth potential. Newmont remains one of the best gold stocks, with its efficient capital allocation and high-quality asset base.
Overall, Newmont Corporation (NYSE:NEM) ranks first on our list of the top gold stocks with dividends. While we acknowledge the potential of NEM, 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 NEM 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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