2 Top Gold Miners to Buy This Winter

Here’s why Equinox Gold (TSX:EQX)(NYSE:EQX) and Agnico Eagle (TSX:AEM)(NYSE:AEM) are two top gold miners to buy right now.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Gold bugs out there have had a difficult time in recent years. Despite negative real interest rates and high inflation, the price of gold hasn’t responded as many hoped it would. For those invested in gold miners, this situation is even more pronounced.

Gold miners provide additional leverage to the price of gold. Due to the high fixed costs of these price takers, higher gold prices translate directly into bottom-line performance. For investors, this is a good thing.

However, with the price of gold stagnating, many investors have looked away from this sector. For those still intrigued and looking for some top gold miners, here are two fantastic picks to consider right now.

Top gold miners: Equinox Gold

Equinox Gold (TSX:EQX)(NYSE:EQX) is a Vancouver-based organization with access to more than 30 million ounces of measured gold reserves, and 16.4 million ounces of proven reserves. The company has a significant presence in North and South America. This provides a geographically diverse and resource-rich portfolio of assets for investors.

Notably, Equinox’s new Greenstone mine is still under construction, with the anticipated opening date sometime in 2024. During the construction phase of this project, 2,000 jobs will be created. Once the mine is complete, 500 positions will be made available to operate this mine.

The company’s Greenstone mine and a range of diversified investments over various projects in recent years have allowed Equinox to put forward a projected output of one million ounces of gold per year. This company’s existing reserves, and the ability to acquire future reserves over time, provide for a bullish outlook for this top gold miner this coming year.

Agnico Eagle

Agnico Eagle (TSX:AEM)(NYSE:AEM) is another top-notch gold miner that has delivered impressive earnings growth and revenue. This gold sector behemoth is gearing up to merge with Kirkland Lake Gold. I believe this deal will be a lucrative one, particularly if the price of gold starts gaining momentum. 

Indeed, the Kirkland Lake deal is hard to ignore. For Agnico Eagle, this acquisition was done at what I view as a dirt-cheap price. While Kirkland Lake shareholders may have gotten the raw end of the deal, the reality is that the combined entity will have newfound market power and economies of scale investors should like. Accordingly, I think Agnico Eagle is a solid pick right now.

As Agnico ramps up production and focuses on higher-grade production, this company’s margins should improve. I’m forecasting much higher gold prices over the medium term, and view Agnico Eagle as one of the best gold miners in this space right now.

Should you invest $1,000 in Dollarama right now?

Before you buy stock in Dollarama, consider this:

The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Dollarama wasn’t one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $21,058.57!*

Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 38 percentage points since 2013*.

See the Top Stocks * Returns as of 2/20/25

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Chris MacDonald owns Kirkland Lake Gold Ltd. The Motley Fool has no position in any of the stocks mentioned.

If You Thought Apple and Microsoft Were Big, You Need to Read This.

The steel industry produced the world's first $1 billion company in 1901, and it wasn't until 117 years later that technology giant Apple became the first-ever company to reach a $1 trillion valuation.

But what if I told you artificial intelligence (AI) is about to accelerate the pace of value creation? AI has the potential to produce several trillion-dollar companies in the future, and The Motley Fool is watching one very closely right now.

Don't fumble this potential wealth-building opportunity by navigating it alone. The Motley Fool has a proven track record of picking revolutionary growth stocks early, from Netflix to Amazon, so become a premium member today.

See the 'AI Supercycle' Stock

More on Metals and Mining Stocks

Safety helmets and gloves hang from a rack on a mining site.
Metals and Mining Stocks

Best Stock to Buy Right Now: Barrick Gold vs Agnico Eagle?

Agnico-Eagle Mines stock continues to soar off of strong results while Barrick Gold grapples with political troubles in its African…

Read more »

A close up color image of a small green plant sprouting out of a pile of Canadian dollar coins "loonies."
Stocks for Beginners

What to Know About 2 Canadian Mining Stocks for 2025

Mining stocks can be a strong investment, or a bit of a wild ride. So where do these two top…

Read more »

nugget gold
Metals and Mining Stocks

2 Gold Stocks to Consider in the Wake of Trump Tariffs

Investing in gold mining stocks such as Kinross can help you diversify your portfolio and lower overall risk.

Read more »

Metals and Mining Stocks

Value Hunters: It’s Time to Snap Up These TSX Gems

Investing in undervalued gems such as MAG Silver should help you beat the broader markets in 2024 and beyond.

Read more »

A plant grows from coins.
Stocks for Beginners

3 Top Basic Materials Sector Stocks for Canadian Investors in 2025

These three Canadian stocks certainly have a strong future ahead, and now might be time to buy the dip.

Read more »

todder holds a gold bar
Stocks for Beginners

Outlook for Barrick Gold Stock in 2025

Gold stock Barrick may have proven itself in the past, but with geopolitical issues on hand, should investors move elsewhere?

Read more »

nugget gold
Metals and Mining Stocks

Gold Stocks in 2025: Why Royalty Stocks May Outshine Miners

When gold prices surge, mining stocks are typically the better picks. But when there is uncertainty about the metal, royalty…

Read more »

People walk into a dark underground mine.
Metals and Mining Stocks

Better Mining Stock: First Quantum vs Teck Resources?

These two mining stocks offer huge returns and income for investors. But one does seem a bit riskier than the…

Read more »