According to a McKinsey estimate, the gold business generated returns of roughly 33% as of late 2020. In 2020, high prices propelled the gold sector to new heights. Due to low-interest rates and global uncertainties, gold is regarded as a suitable investment for inflation protection. By 2026, the worldwide gold mining industry is expected to have grown from $214.1 billion in 2021 to $249.6 billion. According to hedge funds, Barrick Gold Corporation and Franco-Nevada Corporation are two of the finest Canadian gold stocks to buy right now.
Insider Monkey analyzes the list of the 10 best Canadian stocks to buy right now. According to investors, this is one of Canada’s greatest gold stocks to buy. The Kumtor Gold Mine in the Kyrgyz Republic is one of the company’s many valuable gold mines. Insider Monkey’s database revealed that 8 hedge funds had invested $12.6 million in Centerra Gold Inc. B2Gold Corp. is a mining and production corporation based in Canada. Mali, Namibia, and the Philippines are among the countries where the corporation owns and runs gold mines. The corporation agreed to buy a 75 percent stake in the Kuortis Property in Finland earlier this month. SSR Mining Inc. is a gold, silver, zinc, and tin producer situated in Canada. 20 hedge funds tracked by Insider Monkey owned positions in SSR Mining worth $204.7 million at the end of the second quarter. Alamos Gold Inc. is a Canadian multinational corporation that specializes in gold and other precious metals mining, exploration, and extraction. With about 9.29 million shares worth more than $71 million, First Eagle Investment Management is a major shareholder. Kirkland Lake Gold Ltd. is a gold mining, development, and exploration business headquartered in Canada. The Macassa Mine and Mill, Detour Lake Mine, and Fosterville Mine are all owned and operated by the firm in Australia. Jim Simons’ Renaissance Technologies is the company’s largest stakeholder, owning about 2.84 million shares worth around $109.7 million. For more details, click 10 Best Canadian Gold Stocks To Buy Right Now.