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Top 10 Gold Stocks on ASX [2022]

With inflation on the rise, many investors turn to gold stocks as a way to preserve their purchasing power. Let’s take a closer look at the possibilities of gold as an investment.

Key highlights:

  • Gold is often considered a safe haven asset, but investing in gold carries its own set of risks. The gold price can fluctuate significantly, and the value of your investment may not always increase.
  • Gold mining companies can be more volatile than the metal itself, as their performance is influenced by a variety of factors, including the price of gold, production costs, and the economic and political conditions in the countries where they operate.
  • Therefore, ASX listed companies in the gold sector might offer higher returns, but their risk might also be bigger. Make sure to do your own research before investing in any company or financial asset.

Is it a good time to invest in gold stocks?

There is no one answer to this question, as the timing for investing in gold and gold mining companies depends on a variety of factors, including market conditions, investor risk tolerance, and individual investment goals. Some people believe that gold can be a good investment in times of economic uncertainty, as the metal is considered a safe haven asset that can potentially hold its value during market downturns. Others invest in gold as a way to diversify their portfolio, as the gold price can often move independently of other asset classes.

Gold shares, on the other hand, can be more volatile than the metal itself, as their performance is influenced by a number of factors, including the price of gold, production costs, and the economic and political conditions in the countries where they operate. As with any investment, it is important to carefully consider the risks and potential rewards before making a decision.

Top gold stocks on ASX

Company Name

Ticker

Stock Price

Year to Date

Market Capitalisation

Newcrest Mining Limited

NCM

$21.34

-10.33%

$19b

Northern Star Resources Ltd

NST

$11.21

23.51%

$13b

Evolution Mining Limited

EVN

$3.07

-22.48%

$5.63b

Santana Minerals Limited

SMI

$0.71

102.86%

$105m

St Barbara Limited

SBM

$0.815

-42.81%

$665m

Regis Resources Limited

RRL

$2.11

10.70%

$1.59b

Gold Road Resources Limited

GOR

$1.75

13.82%

$1.88b

De Grey Mining Limited

DEG

$1.275

6.69%

$1.99b

Ramelius Resources Limited

RMS

$0.975

-36.17%

$850m

Red 5 Limited

RED

$0.22

-25.42%

$614m

Data as of 21 December 2022

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Discover the top ASX gold stocks to watch

1. Newcrest Mining Limited (NCM)

Market Capitalisation: $19b

Stock price (as of 21/12/2022): $21.34 

Stake Platform Bought / Sold (1 Jan 2022 - 16 Dec 2022): 62% / 38%

Newcrest Mining is a leading gold mining company based in Australia. The company is one of the largest gold producers in the world, with operations in Australia, Papua New Guinea, and Indonesia. Newcrest is known for its focus on sustainability and responsible mining practices, and is committed to minimising its environmental impact. The company has a diverse portfolio of gold and copper assets and is constantly looking for new opportunities to expand and grow its business.

2. Northern Star Resources Ltd (NST)

Market Capitalisation: $13b

Stock price (as of 21/12/2022): $11.21 

Stake Platform Bought / Sold (1 Jan 2022 - 16 Dec 2022): 57% / 43%

Northern Star Resources is a gold mining company based in Perth, Western Australia. The company is known for its high-quality, low-cost gold operations and has a strong track record of delivering returns to shareholders. Northern Star has a diverse portfolio of assets in Western Australia and the Northern Territory and is constantly seeking out new opportunities to expand its operations. 

3. Evolution Mining Limited (EVN)

Market Capitalisation: $5.63b

Stock price (as of 21/12/2022): $3.07

Stake Platform Bought / Sold (1 Jan 2022 - 16 Dec 2022): 63% / 37%

Evolution Mining is a leading gold mining company based in Australia. The company has a diverse portfolio of assets, including gold mines in Queensland, New South Wales, and Western Australia. Evolution is known for its focus on minimising its environmental impact. The company has a strong track record of delivering returns to shareholders. In addition to its gold operations, Evolution also has a small presence in the copper mining industry.

4. Santana Minerals Limited (SMI)

Market Capitalisation: $105m

Stock price (as of 21/12/2022): $0.71

Stake Platform Bought / Sold (1 Jan 2022 - 16 Dec 2022): Not available

Santana Minerals Limited is a mineral exploration and development company based in Perth, Western Australia. The company is focused on exploring and developing gold and base metal projects in the region, with a particular emphasis on gold. Santana has a number of exploration projects underway in Western Australia, and is actively seeking out new opportunities to expand its portfolio.

5. St Barbara Limited (SBM)

Market Capitalisation: $665m

Stock price (as of 21/12/2022): $0.815

Stake Platform Bought / Sold (1 Jan 2022 - 16 Dec 2022): 64% / 36%

St Barbara Limited is a gold mining and exploration company based in Perth, Western Australia. The company operates gold mines in Western Australia and the Philippines, and has a number of exploration projects in both countries. St Barbara also has a small presence in the copper mining industry.

6. Regis Resources Limited (RRL)

Market Capitalisation: $1.59b

Stock price (as of 21/12/2022): $2.11

Stake Platform Bought / Sold (1 Jan 2022 - 16 Dec 2022): 61% / 39%

Regis Resources Limited is a gold mining company based in Perth, Western Australia. The company operates the Duketon Gold Project in the region, which is a large-scale open pit mine that produces gold. Like many other gold miners, Regis also produces copper, having exposure to the broader mining industry.

7. Gold Road Resources Limited (GOR)

Market Capitalisation: $1.88b

Stock price (as of 21/12/2022): $ 1.75

Stake Platform Bought / Sold (1 Jan 2022 - 16 Dec 2022): 63% / 37%

Gold Road Resources Limited is a gold mining company based in Perth, Western Australia. Gold Road has a diverse portfolio of assets in Western Australia, including the Gruyere Gold Project, which is a large-scale open pit mine that should produce 350,000 ounces of ore annually by 2023.

8. De Grey Mining Limited (DEG)

Market Capitalisation: $1.99b

Stock price (as of 21/12/2022): $1.275

Stake Platform Bought / Sold (1 Jan 2022 - 16 Dec 2022): 61% / 39%

De Grey Mining is a gold exploration and development company that operates primarily in the Pilbara region of Western Australia. The company's flagship project is the Hemi gold deposit, which is located approximately 1,500 kilometres north of Perth. De Grey Mining is focused on advancing the Hemi deposit through exploration and development activities, with the goal of becoming a significant gold producer in the region.

9. Ramelius Resources Limited (RMS)

Market Capitalisation: $850m

Stock price (as of 21/12/2022): $0.975

Stake Platform Bought / Sold (1 Jan 2022 - 16 Dec 2022): 70% / 30%

Ramelius Resources Limited is an Australian gold mining company that operates several gold mines in Western Australia. The company's operations include the Mt Magnet gold mine, the Vivien gold mine, and the Wattle Dam gold mine, among others. Ramelius has a strong track record of production and is focused on expanding its operations through exploration and development activities.

10. Red 5 Limited (RED)

Market Capitalisation: $614m

Stock price (as of 21/12/2022): $0.22

Stake Platform Bought / Sold (1 Jan 2022 - 16 Dec 2022): 62% / 38%

Red 5 Limited is an Australian gold mining company focused on the exploration and development of gold deposits in the Western Australian Goldfields region. The company's flagship project is the Darlot Gold Mine, which is located approximately 170 kilometres east of Kalgoorlie.

Gold stocks FAQs

How can I invest in gold stocks in Australia?

Australia is one of the world's leading producers of minerals and because of this many investors find interest in gold stocks on the ASX. There are several ways traders can invest in gold stocks in Australia if they are not interested in physical gold:

  1. Purchase shares in a gold mining company through a broker or online platform, such as Stake. This can be done through a traditional brokerage account or through a self-directed investment account, such as a self-managed super fund (SMSF).
  2. Invest in a gold exchange-traded fund (ETF). An ETF tracks the performance of a particular index or asset class, such as gold mining companies. This allows you to invest in a diverse portfolio of gold mining companies through a single investment.

What gold ETFs can I invest in?

Here is a list of gold ETFs that are available on the Australian Securities Exchange (ASX):

Who is the biggest gold producer in Australia?

The biggest gold producer in Australia is the mining company Newcrest Mining Limited (NCM), which is headquartered in Melbourne. Other major gold producers in the country include Evolution Mining (EVN) and Northern Star Resources (NST).

This does not constitute financial product advice nor a recommendation to invest in the securities listed. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking appropriate financial or taxation advice before investing.



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