Due to the pandemic and rising inflation, gold prices have increased, prompting more investors to hold gold. While these prices won’t hold when you buy stocks because gold values vary a lot, for now, it’s a good idea to invest in gold and have it as part of a diverse portfolio.
Best Overall Gold Stocks in Canada
When just starting in investing, you may be surprised to learn that you don’t have to purchase physical metals to invest in precious metals. With gold, one of the most popular metals, being widely available, many are surprised to learn they don’t need to purchase physical gold, such as bullion, to invest. You can actually just invest in different gold resources, such as gold miners’ stocks.
When it comes to purchasing gold stocks in Canada, some stocks are better than others. It can be difficult to decide, since there are many large and junior mining companies. There are also royalty companies and streaming companies to choose from when it comes to gold stocks. It’s important to note, though, that just because you’re investing in Canadian stocks doesn’t mean these companies are solely based in Canada. They’re also based in other parts of the world, like West Africa and Latin America.
Let’s take a look at some of the best gold stocks in Canada. Just because they’re considered the best, though, that doesn’t mean that they have a competitive advantage.
Agnico Eagle Mines (TSE:AEM)
Agnico Eagle Mines Limited is one of the largest gold mining companies in Canada and has multiple locations worldwide, even though they’re Canadian-based. They aren’t new, either. Agnico was founded in 1957 and has been doing well ever since. Since 1983, they’ve actually been declaring a cash dividend every year.
While Agnico is invested in different countries producing different precious metals, it does have some key mines that contribute to its gold production. These include their Canadian mines LaRonde, Meadowbank and Meliadine. They also have high-producing mines in Australia, Finland, and Mexico.
Not only is Agnico Eagle Mines known for producing large amounts of precious metals, but it’s also known for its leading environmental, social, and governance practices. Their strategy to achieve this is simple:
- They’re socially responsible when they operate.
- They look to grow their people and provide growth opportunities.
- They maintain their high quality while looking to build.
- They ensure their portfolio delivers.
Regarding the stock itself, prices and specs change daily. That said, the stock costs around $262.17. However, the year range sits between $188.48 and $348.94. Some other things to consider are:
- The average volume is 1,023,028
- The market cap is 132.181B Canadian
- The dividend yield is 0.97%
- The P/E ratio is 16.15
Like many of the other stocks we’re going to discuss, Agnico is a Canadian-listed security company.
Barrick Mining Corp (ABX.TO)
Another large gold producer in Canada is Barrick Mining. Many people don’t know this, but Barrick not only produces gold but is also exposed to copper. By the end of 2025, their annual gold production was 3.26 million ounces, and their copper output was 220,000 tonnes. They have 16 operating mines across 13 countries.
Another interesting thing to note about Barrick Mining Corp is that they’ve been significantly reducing their net debt. As of 2023, they’re only $6.3B in debt, down from $17B in 2023. They’ve also been focusing on returning capital to shareholders and have a 5-year streak of dividend growth.
Essentially, Barrick Mining is planning for the long term. They operate worldwide and are focused on sustainable growth. They focus on owning the best assets, employing the best people, and delivering the best returns to all shareholders.
In terms of the actual stock, Barrick shares are around $56.51, with a year-to-date range of $42.62 – $74.00. They have a market cap of 93.01 B CAD and an average volume of 4,075,877. Their dividend yield is 1.72%, and the P/E ratio is 10.25.
B2Gold (BTO.TO)
Another gold company to consider is B2Gold. While it hasn’t been as lucrative a producer as some other mining companies, it is starting to improve. An impressive feat for them was producing over 1 million ounces of gold in 2022, despite major setbacks in 2019 and 2020.
Just like many other gold producers, B2Gold was founded in Canada. It’s actually headquartered in Vancouver, BC and has been around since 2007. They currently have operations in Mali, Namibia, and the Philippines. They’re also currently exploring different places all over the world, including:
- Mali
- Colombia
- Finland
When it comes to B2Gold’s stock, it currently sits around $7.28 with a year range of $5.02 – $8.60. They have a market capitalization of 9.598B Canadian and an average volume of 4,001,855. Their dividend yield is 1.52%. The TSE (Toronto Stock Exchange) is the primary exchange for this stock.
Wesdome Mines (WDO.TO)
Another Canadian-based gold mining operation is Wesdome Mines, considered one of the top Canadian gold stocks. This company is based in Ontario and operates the Eagle River Mine in Ontario as well as the Kiena Mine in Quebec. While they have run into some issues in the past, they’ve always been quick to find an innovative and pertinent solution.
One thing about Wesdome Mines that attracts Canadian investors is their sustainable mining practices. They are also known for their commitment to responsible mining practices and have a good operational track record. With all that in mind, though, Wesdome Mines is a high-risk, high-reward type of investment.
As a mid-tier gold producer, Wesdome Mines currently sits at around $33.77 per share. That said, the yearly range is from $19.48- $37.22. They have a market capitalization of 4.856B Canadian and an average volume of 564,023. The TSE is its primary exchange.
Franco-Nevada Corporation (FNV.TO)
Franco-Nevada Corporation is the number one gold stock in Canada. They were even able to outperform during economic downturns like the pandemic, when other gold mining companies were having to shut down. One of the main reasons that they were able to do this is because Franco-Nevada is a streamer, and streamers outperform producers.
Because Franco-Nevada is a streaming company, its costs are low, and its revenue is high. This also offers them consistency, and with it, they’ve been able to maintain continuously rising dividends for the last 15 years. This makes them reliable, which is important for investors. Let’s take a look at the specifics of the Franco-Nevada stock to see what makes it attractive to investors.
When you look at the stock prices of Franco-Nevada Corporation, it’s easy to see that their stock prices are higher than those of the others. The stock price is around $341.96, with a yearly range of $154.13–$388.22. The market capitalization of this company is 66.079B Canadian dollars, with an average trading volume of 349,041. They have a P/E ratio of 32.42 with a dividend yield of 0.72%. The TSE is also its primary exchange.
Alamos Gold (TSE-AGI)
Another gold stock to consider adding to your portfolio is Alamos Gold Inc. They’re a Canadian-based gold producer and currently operate 2 mines in Canada and 1 in Mexico, with one in Canada being the high-grade Island Gold district in Ontario. They even have some development-stage projects that have strong portfolios. They’re also a relatively new company compared to some other gold producers, having been founded in 2003 through a merger of Alamos Minerals and National Gold.
Some of the key reasons many investors choose Alamos Gold include its commitment to employees’ health and well-being. They also focus on minimizing environmental impacts. It also helps that their diversified portfolio offers stable, long-life gold production.
Alamos Gold Inc.’s stock has an average price of $45.64. The yearly range is $38.03 – $75.78 with a market cap of 19.113B Canadian and an average volume of 1,202,533. They have a P/E ratio of 11.89 and a dividend yield of 0.38%. The TSE is the primary exchange.
Wheaton Precious Metals Corp (TSE: WPM)
One thing you should know about Wheaton Precious Metals Corp is that they’re considered to be one of the largest precious metals streaming companies in the world. They have streaming agreements with 22 operational mines. They also have 20 streaming agreements with developmental operations.
How Wheaton is set up makes it a popular choice among investors. They have high-quality assets, predictable costs and innovative dividends. They even offer investors exposure to commodity prices and exploration upside, but because they’re a streaming company rather than a producer, they have a much lower risk profile. Here are the specifics of the Wheaton stock.
The current market price of Wheaton Precious Metals Corp sits at around $191.38. However, the yearly range is $129.69 – $226.68. They have a market capitalization of 86.917B Canadian and an average volume of 789,787. Their P/E ratio is 30.72, and the dividend yield is 0.55%.
Top Gold Mining Businesses in Canada
In Canada, there are quite a few gold mining companies. We’ve already discussed some of the major players. Let’s take a look at the others.
Centerra Gold Inc (TSE:CG)
Like all other gold mining companies, Centerra Gold Inc. is Canada-based. They have a few gold mining operations worldwide, with their main ones being the Mount Milligan Mine in British Columbia and the Oksut Mine in Turkey. These aren’t their only projects, though. They also own the Goldfield District Project, the Kemess Project, and the Molybdenum Business Unit.
Centerra Gold stock trades at around $31.12 per share. The yearly range is between $14.65 – $33.94. They have a market cap of 6.174B Canadian and an average volume of 665,801. The dividend yield is 0.91%, and they’re primarily found on the TSE.
SSR Mining Inc (TSE:SSRM)
SSR Mining is another Canadian company with operations worldwide. It is trading at around $47.56 per share, with a yearly range of $25.83 – $54.40. They have a market cap of 9.868B Canadian and an average volume of 422,696. The P/E ratio is 11.54, and their primary exchange is NASDAQ.
Kinross Gold Corp (TSE:K)
Kinross is another gold mining corporation headquartered in Toronto that operates worldwide. They have operations in the United States, Canada, Brazil, Chile and Mauritania. They are attractive to investors because they offer operational excellence, balance-sheet strength, and responsible mining practices.
Kinross Gold Corp.’s stock is around $32.94 per share. Their yearly range is 30.93-53.57, and they have a market cap of 39.075B Canadian. Their average volume is 3,505,138; their P/E ratio is 9.05; and their dividend yield is 0.65%.
Yamana Gold
Yamana is a Canadian gold mining company that was founded in 1993. Not only do they operate gold mines, but they also operate silver and copper mines in Canada, Chile, Brazil, and Argentina. This company has been through a lot over the years, and as of March 2023, it became a subsidiary of Pan American Silver. Unlike the other gold companies in Canada, Yamana Gold isn’t found on the Toronto Stock Exchange. They are found on the NYSE, though.
Teck Resources Ltd (TSE:TECK.B)
Teck Resources is considered to be Canada’s largest diversified mining company. While they’ve only been around since 2008, they were previously known as Teck Cominco. They’re headquartered in Vancouver, BC, with operations worldwide. They even mine for other precious metals, such as copper, zinc, and even steelmaking coal, giving themselves a diverse portfolio.
Teck Resources’ stock is around $92.14 per share, with a yearly range of $53.55 to $99.91. They have a market cap of 45.224B Canadian and an average volume of 1,156,280. Their P/E ratio is 18.11, and their dividend yield is 0.52%.
Best Canadian Gold Stocks With Dividends
When it comes to gold stocks, almost every single one of the companies listed above provides dividends. This means that those who hold stock in these companies have a direct investment interest in the companies’ cash flows, not just their stock prices.
When you look at these companies, you have the largest and second-largest gold miners, ones that operate in North and South America, and others that conduct gold exploration around the world.
Even in economic uncertainty, precious metals like gold are a constant. For this reason, the mining sector is a popular place for investors to find a haven for their portfolio. Growing production offers growth potential even in the wake of geopolitical events.
You’ll notice that for each company mentioned above, we don’t just provide stock information. There’s also the ticker symbol name, up-to-date data, and market capitalization. Many have a market capitalization greater than 1 million. These are not only the top performers over the last few months but also provide income through dividends and stock sales.
The Best Ways to Invest in Gold in Canada
While investing in gold companies is a great way to invest in gold in Canada, there are other ways that you can invest in the gold mining industry as well. These include investing through central banks with:
- Gold ETFs
- Gold Futures
- Gold Bars
- Gold Coins
- The Royal Canadian Mint
No matter which way you choose to invest, though, it’s predicted that 2026 will be a great year for gold.
Canadian Gold: Is it a Good Investment?
Investing in gold is different than investing in other securities. It’s a highly volatile investment, and its value is based on price speculations. It isn’t like traditional securities, whose value is based on earnings or dividends. This can make it difficult for some investors.
Overall, though, gold tends to be a good investment, and many investors have made a lot of money from it. Lately, the pandemic and inflation have impacted gold prices, which in turn have affected gold stocks. That said, the main reason gold investors choose it is that it’s a safe investment during market volatility. Plus, there are plenty more gold stocks to choose from than just the ones we mentioned.
Which Canadian Stocks Could Boom in 2026?
While the stocks we mentioned above are all great choices, a few could potentially boom in 2026. These include:
- Agnico Eagle Mines (TSX:AEM)
- Alamos Gold (TSX:AGI)
- Barrick Mining (TSX:ABX)
- Wesdome Mines (WDO:TO)
It’s important to keep in mind that this is just a prediction, though; there is no guarantee.
The Largest Gold Company in Canada
Agnico Eagle Mines Limited, according to market capitalization, is the largest gold mining company in Canada. They currently have major operations in Ontario, Quebec, and Nunavut. On top of that, they’re considered to be the second-largest gold producer in the world when you consider annual gold production in metric tons.
Canadian ETF for Gold Stocks
When it comes to ETFs for gold stocks, there are three main ones in Canada.
iShares S&P/TSX Global Gold Index (TSX:XGD)
For this ETF, the share price is $56.42. The yearly range is $41.20 to $69.90, and the average volume is 457,365. The PE ratio is 13.88, and the yield is 0.69%.
It tracks the S&P/TSX Global Gold Index, with over 63% of the fund being allocated to gold stocks.
BMO Equal Weight Global Gold Index (TSX:ZGD)
The current share price on this ETF is $30.86, with a yearly range from $21.13-$38.50. It has an average volume of 33,136 and holds net assets of 390.79M. The yield for this ETF is 0.18%. As you may have guessed, it tracks equally weighted gold mining companies.
BMO Junior Gold Index ETF (TSX:ZGD)
This ETF tracks smaller-cap gold mining and exploration companies. It has a current share price of $25.18 with a yearly range from $17.85-$33.54. The average volume is 32,993, and the yield is 0.10%.
How Do Rising Gold Prices Impact Mining Stocks?
When gold prices increase, they impact mining stocks in several ways. The first is by increasing profit margins. The cost of the operation doesn’t really increase, but rising gold prices increase profit margins, which allows for more revenue growth. This then allows mining companies to provide higher amounts when returning capital to shareholders.
Having this increased revenue also allows for more exploration and development, and even resource expansion. For some miners, it creates growth opportunities that come with operational risk and opportunity cost. With the price volatility of gold to consider as well, share prices can fluctuate.
Finally, rising gold prices can also trigger industry-wide cost inflation. The higher demand for equipment and skilled labour can impact the costs, cutting into profit margins.
The All-In Sustaining Costs for Gold Miners
The All-In Sustaining Cost is a standard financial metric that is used in the mining industry. It’s primarily used for gold and silver mining and is used to measure the total recurring cost that is required to produce an ounce of metal and maintain ongoing operations.
Currently, the AISC for gold production in Canada has grown year over year 3.14% to $1,512.76 USD. This is lower than the US average of $1,716.15 per ounce USD.
Should Gold Stocks Be Held in a TFSA or an RRSP?
When it comes to investing in gold mining stocks, index funds, and exchange-traded funds, it is usually recommended to put them in a TFSA instead of an RRSP. This is because you only contribute your after-tax dollars, and then your money can grow 100% tax-free.
By putting your TSX gold stocks into a TFSA, you’re saving money on tax, and you don’t have to worry about paying tax on them when you start withdrawing money from your RRSP. There’s also no penalty for withdrawing the funds whenever you like. That said, you do have to be mindful of your contribution limit.
How Gold Stock Dividends are Taxed in Canada
When you own shares in a Canadian gold mining company and Canadian gold producers, the dividends are typically considered to be eligible dividends. Due to the dividend tax credit that is there to avoid double taxation, eligible dividends are taxed at a lower rate than regular interest income or salary.
Gold Royalty and Streaming Stocks: Are They Safer Than Miners?
Gold royalty and streaming companies are generally safer to invest in than traditional gold stocks. However, what you choose to invest in all depends on your risk tolerance. They’re safer because they avoid direct operational and capital risk while still being able to keep a strong exposure to rising gold prices.
Gold royalty and streaming companies don’t own any commercial production operations for traditional miners. They have more robust free cash flow, due to their fixed costs and higher profit margins.
Junior Gold Miners With the Biggest 2026 Gains
Apart from some of the best gold stocks that we’ve already listed, there are other stocks from junior gold miners that have had some of the biggest gains in 2026.
- EDM Resources – 470% gains
- Auro Metals – 424.29% gains
- San Lorenzo Gold – 415.29% gains
- Galantas Gold – 280% gains
- Xali Gold – 150% gains
Gold Stocks Compared to Physical Gold and Gold Bullion
When you enter the physical gold or gold bull market, you’re holding the precious metal directly. Your net cash will change with gold prices, but it will be affected differently than it is with stocks.
Gold stocks, on the other hand, are publicly traded shares of gold mining companies, exploration companies or royalty companies. While you don’t have to live the mine life directly, you do own part of the business. You can choose between large-cap and small-cap stocks, and you can look at the trailing 12 months of yield and historic highs before you decide to purchase.
How Central Bank Buying Impacts the Gold Demand
Central bank gold purchases increase the global physical demand for bullion. This drives up international prices and directly raises what both investors and consumers pay for gold. It also intensifies safe-haven demand amid concerns about currency debasement. Since gold everywhere is valued this way, it’s a way of ensuring that it’s fairly valued.
