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5 of the best gold stocks to consider now

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Gold stocks are an easy way to add the precious metal to your portfolio. Getty Images/iStockphoto

Gold is an attractive asset that can provide investors with stable, reliable returns and diversification benefits. And you don't need to invest in bulky bars — and the space to store them safely — to add it to your portfolio.

There are plenty of ways to invest in gold, including one even basic investors are familiar with: stocks. Gold stocks balance the potentially high returns of stocks with the lower risk this historically valuable precious metal has to offer, making them an attractive way to get exposure to the benefits gold has to offer as an investment.

There are plenty of gold stocks on the market, and which ones are best for you depends on a wide variety of factors. That said, there are some picks worth considering. Learn more about gold investing by requesting a free information kit today.

5 of the best gold stocks to consider now

We reviewed recommendations from numerous stock analysts to compile this list of the stocks that made the cut the most often. Note that all statistics below are current as of June 9, 2023, according to NASDAQ data.

Barrick Gold Corp. (GOLD)

  • Price: $17.01
  • Yield: 2.33%
  • 52-week low/high: $21.17/$13.01
  • Price-to-earnings (P/E) ratio: $283.08
  • Price/earnings-to-growth (PEG) ratio: 9.03
  • Earnings per share (EPS): $0.06

Barrick Gold Corp. is the second-largest gold miner in the world, as you might guess from its ticker symbol. Wall Street analysts consider GOLD stock to be undervalued, meaning its market value is considerably lower than its intrinsic value. This makes now a great time to get in on the stock, which has a consensus rating of "buy."

Franco-Nevada Corp. (FNV)

  • Price: $14.55
  • Yield: 0.92%
  • 52-week low/high: $161.25/$109.7
  • Price-to-earnings (P/E) ratio: 41.66
  • Price/earnings-to-growth (PEG) ratio: 10.29
  • Earnings per share (EPS): $3.51

Franco-Nevada Corp. is another sizeable company, with over 400 sites in North America. Rather than directly mining the precious metal, it's a royalty and streaming company, which means it buys contracts to sell gold produced by mining companies. FNV is considered a "high-growth" stock, with earnings that have increased every year since 2018 and sales that have increased each year for over a decade, making it a smart play for long-term investors.

Wheaton Precious Metals Corp. (WPM)

  • Price: $44.92
  • Yield: 1.32%
  • 52-week low/high: $52.76/$28.62
  • Price-to-earnings (P/E) ratio: 32.51
  • Price/earnings-to-growth (PEG) ratio: 7.68
  • Earnings per share (EPS): $1.38

Wheaton Precious Metals Corp. is a well-diversfied mining company, with earnings from gold, silver, palladium and cobalt. While its production and revenue declined in 2022, it has plans to develop 13 new sites and boost its production in 2023. Analysts consider its long-term production outlook to be positive and rate WPM a "buy."

Agnico Eagle Mines (AEM)

  • Price: $51.13
  • Yield: 3.1%
  • 52-week low/high: $61.15/$36.685
  • Price-to-earnings (P/E) ratio: 10.06
  • Price/earnings-to-growth (PEG) ratio: 22.91
  • Earnings per share (EPS): $5.08

Analysts consider AEM a "buy" to "strong buy." Steady profit increases over the past three years, a pipeline of projects in the works and expected production increases suggest strong upside potential despite its equity value falling somewhat in the past few months.

Royal Gold (RGLD)

  • Price: $119.52
  • Yield: 1.24%
  • 52-week low/high: $147.82/$84.54
  • Price-to-earnings (P/E) ratio: 283.46
  • Price/earnings-to-growth (PEG) ratio: 3.08
  • Earnings per share (EPS): $3.61

Royal Gold is another gold streaming company. Its sales have steadily increased over the past decade, with growth expected to continue, and its dividends have steadily increased over the past two decades. While stock prices haven't changed markedly for some time, its overall track record and growth potential make it worth considering.

The bottom line

This list is just a starting point. As with any stock (or other investment), you should do your own research and consult a financial advisor for guidance customized to your unique financial situation and goals.

Explore your other gold investing options by requesting a free gold investors kit here.

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