Investing in gold has been a staple of the financial markets for centuries. With gold fetching higher prices than ever before, investors are buying up as much of the precious metal as they can. Those looking to maximize their gold buying power may be looking for new ways to add gold to their investment portfolios. One such way is through stocks in gold-producing companies.
With that in mind, here’s the list of the top 5 gold stocks on the TSX in 2023.
1. Barrick Gold: Barrick is a major player in the gold market. It is the world’s largest gold producer, and its stocks have consistently performed over the long term. Barrick’s gold mining operations span three continents, and its core focus is on high-grade gold-bearing sites.
2. Yamana Gold: Yamana is another big player in the gold market. It has operations across North and South America and produces gold on a large scale. Yamana is sure to remain a popular choice for investors looking for gold exposure in 2023.
3. Kinross Gold: Kinross Gold is another well-established gold producer with mines scattered across various countries. Its stock is up over 10% in the last year, and with a strong outlook for the gold market, investors can expect Kinross stock to perform well in 2023.
4. Goldcorp Inc.: Goldcorp is one of the largest gold miners in the world and has operations across North America and elsewhere. Goldcorp remains a popular choice for investors due to its consistent dividend yield and reliable stock performance.
5. Eldorado Gold: Eldorado is a newer entrant to the gold mining industry, having been founded in 2020. With its operations focused on Europe and South America, it is quickly becoming a popular choice for gold stock investors.
These five stocks are set to continue to perform strongly in 2023 as gold prices remain at all-time highs. Investors looking to diversify their portfolio and capitalize on the strength of the gold market should consider one or more of these stocks. However, it is important to remember that gold stocks, like any other stock, involve risks and investors should always research thoroughly before investing.
