Rio Tinto PLC (RIO), Franco-Nevada Corp. (FNV), Wheaton Precious Metals Corp (WPM), Royal Gold, Inc. (NEM), Agnico Eagle Mines Ltd. (AEM), and Methodology are all popular investments, with Gold for IRA investment being a particularly attractive option. Fundamentally, one of the factors that support NEM as a long-term bet among the best gold stocks to buy is that it is not just based on precious metals.
Newmont mines a significant amount of copper every year, an already important product that is becoming even more important. For example, copper plays an important role in the manufacture of electric vehicles. Today, Gold Fields has a wide reach in terms of its mining operations. In addition to its domestic market, its presence extends to the Americas, Australia and West Africa.
In general terms, royalty and streaming companies tend to be more stable than pure mining companies, which is why FNV ranks high among the best gold stocks to buy now. In fact, the company has several excellent components within its finances. It should be noted that Franco-Nevada has no debts and scores incredibly well in terms of profitability indicators. Compared to a basket of valuation indicators, FNV is considered to be modestly undervalued.
Since volatility seems to have declined recently (stocks are currently down around 3% to date), opponents may want to take a closer look at Franco-Nevada. The price of gold experienced a significant upward movement in February and March following the Russian invasion of Ukraine on February 23, but it was unable to maintain those gains and has fallen throughout the year. Interestingly, Agnico stands out from the other best gold mining stocks to buy because of its long-standing policy of not selling any of its future gold production in the future in the future. Due to the wide availability of gold stocks and ETFs, you don't need to be a stock selection guru to participate in the ups and downs of the gold industry.
Finally, investors who don't want to try to identify the best individual mining stocks may consider buying shares in gold ETFs, which are more practical and profitable options for investing in gold stocks. One of the reasons streaming companies are often among the best gold stocks to buy is because they promote predictable costs for investors. These factors can allow gold mining companies to increase their profits, allowing their stock prices to exceed the price of gold. The five gold stocks represent more than 42% of the ETF's assets, and Newmont Goldcorp represents more than 12%.
To see the last two ideas on this list of the best gold stocks to buy, I'm going to focus on the speculative side of the spectrum. Buying gold stocks instead of physical metal has many benefits to take advantage of the advantages of investing in gold. Since Franco-Nevada can profit from gold mining without exposing itself to the risks of mining development, its shares have historically surpassed the price of gold and other gold mining stocks. While it may be strange to start with a list of the best gold stocks to buy now with one caveat, investors should know that the precious metals narrative is extremely risky.
The ETF also has a reasonable expense ratio of 0.51%, making it a relatively profitable way to invest in many gold stocks. In addition, many analysts consider AEM to be one of the best gold mining stocks to buy because of its strong finances.