1. Barrick Gold Corp (GOLD.TO)
Barrick Gold Corp., a leading global gold mining company based in Toronto, leads our list of top gold stocks on the TSX. With large-scale mining operations across the globe, Barrick Gold maintains a strong position in the gold industry, boasting one of the largest reserves in the sector. In 2024, the company has made a significant breakthrough with its deep drilling program at the Cortez mine in Nevada. This continues to add volume to their already extensive mineral reserves and resources, reaffirming its position as a leader in the industry. It also continues to deliver on its commitment to sustainable operations and responsible mining—factors that significantly appeal to environmentally-conscious investors.
2. Agnico Eagle Mines Limited (AEM.TO)
Second on our list is Agnico Eagle Mines. Noted for its consistent track record of value-creating acquisitions and developmental success, Agnico has positioned itself as a strong player in the gold industry. In 2024, their Amaruq satellite deposit in Nunavut, Canada, started commercial production, providing a substantial boost to revenues and enhancing the company’s global standing as a gold producer. Its strategic investments and operational excellence make it a top-tier investment choice for those looking to diversify into gold.
3. Kirkland Lake Gold Ltd. (KL.TO)
Kirkland Lake is a prominent intermediate gold producer operating in Canada and Australia. The company witnessed remarkable growth in 2024, particularly due to the high-grade, low-cost production from its Fosterville mine in Australia. The company’s commitment to shareholders in increasing dividends and repurchasing shares continues to make it an attractive investment option. Its successful exploration and growth strategies have contributed to its financial strength and high-quality production, solidifying its spot on our list.
4. Yamana Gold Inc. (YRI.TO)
With a noteworthy portfolio of gold and silver producing mines, Yamana Gold has established itself as a cost-effective gold producer with significant upside potential. Yamana’s operations in Canada’s Quebec province have shown strong performance in 2024, boosting the gold production. The successful expansion at Jacobina Mine in Brazil and the company’s noteworthy exploration successes further ensured its place among the top gold stocks on the TSX.
5. Kinross Gold Corporation (K.TO)
Rounding out the top five is Kinross Gold Corporation, another Canadian-based gold and silver mining company. Kinross’s extensive portfolio has delivered robust production profiles over the years. The impressive performance at its Paracatu Mine in Brazil and Tasiast Mine in Mauritania in 2024 has led to increased production volumes and stronger revenues. Moreover, the company’s continuing emphasis on mine safety and environmental responsibility appeals to socially responsible investors.
Each of the companies listed above brings unique advantages to the table, from solid production profiles to prudent business strategies and strong commitment to responsible mining. It’s crucial to note that while these stocks have seen success in 2024, past performance is not always indicative of future results. As with all investments, due diligence and careful portfolio diversification are paramount.
