1. Barrick Gold Corporation (ABX)
Barrick Gold Corp is undoubtedly one of the premier gold stocks on the TSX in 2024. Barrick has a robust production pipeline with a solid portfolio across the globe. The company’s operations span five continents, giving it a distinct diversity in terms of geopolitical risks. The company’s core mines in North America, South America, Australia, the Pacific, and Africa, have impressive gold and copper reserves. In 2024, the company kept its portfolio robust with strategic acquisitions and efficient divestitures. Barrick Gold’s focus on maintaining an equilibrium between capital growth and dividend payouts has made it an attractive option for investors seeking a balanced risk-reward proposition.
2. Franco-Nevada (FNV)
Franco-Nevada Corporation stands out in the market of gold stocks due to its unique business model – it’s a gold-focused royalty and stream company. Unlike traditional gold mining companies, Franco-Nevada doesn’t run gold mines but rather invests in gold mining projects and receives a steady income stream from the production. This innovative strategy shields the company from the operational challenges and costs associated with gold mining. Moreover, Franco-Nevada diversified its interest into other commodities and even oil and gas, making it one of the most resilient gold stocks of 2024 on TSX.
3. Agnico Eagle Mines (AEM)
Agnico Eagle Mines is another significant player among the gold stocks on TSX. Known for its high-quality, low-cost gold mines, the company operates in Canada, Finland, and Mexico. A critical aspect of Agnico Eagle Mines’ success in 2024 was its strategic focus on exploring gold deposits in politically stable jurisdictions. The company consistently delivered value to its shareholders through its strong operational performances and growing gold reserves. Furthermore, AEM’s emphasis on sustainability and community relations strengthened its corporate relationships, and contributed to its popularity among shareholders.
4. B2Gold Corp (BTO)
Amid the top gold stocks on TSX, B2Gold Corp needs special mention. The company operates gold mines in the Philippines, Namibia, and Mali. Despite the political issues in these regions, BTO has achieved consistent production growth. In 2024, the company saw an uptick in its revenue due to higher gold prices, providing a significant boost to BTO’s revenue and profit margins. The knack to explore high-grade gold mines in politically complex regions at lower costs provided B2Gold a competitive edge over its peers.
5. Kinross Gold Corp (K)
Kinross Gold Corp has been a household name in the gold mining industry. Operating in Russia, the United States, Brazil, Chile, Ghana, and Mauritania, Kinross Gold managed to increase production while keeping costs low, thus increasing its revenue. In 2024, the company’s strategic investments in new projects and exploration activities led to an impressive increase in its gold reserves. Kinross Gold Corp’s emphasis on sustainable mining and environmental best practices underlines its commitment to responsible gold mining and positions it as a preferred choice for investors.
In the turbulent financial climate of 2024, these top gold stocks on TSX provided investors safe haven and opportunities for robust returns. Their diversified operations, innovative strategies, and commitment to sustainable practices demonstrated why they remained preferred investment choices among gold stocks.
