Are these the best ASX Gold stocks? 10 Gold mining companies in Australia

Are these the best gold stocks on the ASX?

Data as of 26 September 2023. Source: Stake, ASX.

*The list of shares mentioned is ranked by market capitalisation. When deciding what assets to feature, we analyse the financials, recent news, the state of the industry, and whether or not they are actively traded on Stake.

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Discover our list of the top 10 Australian gold mining companies

1. Newcrest Mining Limited ($NCM)

Market Capitalisation: $23.98b

Stock price (as of 26/09/2023): $26.31

Stake Platform Bought / Sold (1 Jan 2023 - 26 September 2023): 53% / 47%

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: $12.49b

Stock price (as of 26/09/2023): $10.75

Stake Platform Bought / Sold (1 Jan 2023 - 26 September 2023): 55% / 45%

Northern Star Resources is an Australian 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: $6.48b

Stock price (as of 26/09/2023): $3.45

Stake Platform Bought / Sold (1 Jan 2023 - 26 September 2023): 56% / 44%

Evolution Mining is a leading Australian gold miner based in Sydney. 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.

Check out our list of copper mining stocks on the ASX if you're interested in exploring other metals.

4. De Grey Mining Limited ($DEG)

Market Capitalisation: $1.9b

Stock price (as of 26/09/2023): $1.18

Stake Platform Bought / Sold (1 Jan 2023 - 26 September 2023): 59% / 41%

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.

5. Gold Road Resources Limited ($GOR)

Market Capitalisation: $1.79b

Stock price (as of 26/09/2023): $1.66

Stake Platform Bought / Sold (1 Jan 2023 - 26 September 2023): 63% / 37%

Gold Road Resources Limited is an ASX 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.

6. Ramelius Resources Limited ($RMS)

Market Capitalisation: $1.64b

Stock price (as of 26/09/2023): $1.47

Stake Platform Bought / Sold (1 Jan 2023 - 26 September 2023): 50% / 50%

Ramelius Resources Limited is an ASX-listed gold stock 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.

7. Emerald Resources NL ($EMR)

Market Capitalisation: $1.55b

Stock price (as of 26/09/2023): $2.57

Stake Platform Bought / Sold (1 Jan 2023 - 26 September 2023): 66% / 34%

Emerald Resources is focused on exploring and developing gold projects, headquartered in Perth, Western Australia. Their vision is to have a net positive impact on near-mine environmental and social values by having strict compliance in regard to corporate governance, international guidelines and local law.

EMR has an experienced mining team with a successful track record, growing value for their shareholders through finding suitable advanced gold development projects with exploration upside.

$EMR share price has had a strong year so far, with a 116% YTD increase. In July 2023, Emerald Resouces put in a takeover bid for gold exploration and production company Bullseye Mining Limited.

8. Regis Resources Limited ($RRL)

Market Capitalisation: $1.15b

Stock price (as of 26/09/2023): $1.49

Stake Platform Bought / Sold (1 Jan 2023 - 26 September 2023): 56% / 44%

Regis Resources Limited is an Australian gold producer 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.

9. Red 5 Limited ($RED)

Market Capitalisation: $952m

Stock price (as of 26/09/2023): $0.27

Stake Platform Bought / Sold (1 Jan 2023 - 26 September 2023): 53% / 47%

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. $RED is one of many small cap gold stocks listed on the Australian Securities Exchange.

10. St Barbara Limited ($SBM)

Market Capitalisation: $155m

Stock price (as of 26/09/2023): $0.18

Stake Platform Bought / Sold (1 Jan 2023 - 26 September 2023): 68% / 32%

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.

How to invest in gold stocks in Australia?

The main way of investing in gold is through gold shares listed on the ASX, using an online investment platform.

1. Open a stock investing account

To invest in gold shares and ETFs, you'll need to sign up to an investing platform with access to the ASX and Cboe Australia. Lucky for you Stake has access to both stock exchanges.

2. Fund your account

Complete an application with your personal and financial details. Fund your account with a bank transfer, debit card or even Apple/Google Pay.

3. Search for gold shares or ETFs

Find the asset by searching for the name or ticker symbol. Do your own research to ensure it is the right investment product for your own circumstances.

4. Choose an order type and buy the asset

Buy on any trading day with a market, limit or stop order. Look into dollar cost averaging to spread out your risk, which smooths out buying at consistent intervals.

5. Monitor your investment

Optimise your portfolio by tracking how the security performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights that affect your shares.

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 essential to carefully consider the risks and potential rewards before making a decision.

Benefits of investing in gold shares

Here are nine benefits that investing in gold shares can have for investors.

• Diversification: Gold shares offer an additional layer of diversification to an investment portfolio. Sometimes they move in the opposite direction of traditional assets like stocks and bonds, providing a potential hedge during economic downturns.
• Low volatility: Compared to some other metals, gold shares tend to have lower volatility. This can provide a stabilising effect on a portfolio, reducing the potential risk of significant losses.
• Hedge against inflation: Gold has historically been considered a hedge against inflation. As the value of currency decreases due to inflation, the price of gold tends to rise, preserving purchasing power.
• Liquidity: Investing in gold shares provides a level of liquidity that physical gold does not. Buying and selling shares in gold mining companies can be done quickly and easily through stock investing platforms like Stake.
• Dividends: Some gold mining stocks may offer dividends to their shareholders. This can provide a source of income in addition to potential capital appreciation.
• Global economic stability: Gold's value is not tied to any particular country or currency. This makes it a valuable asset during times of geopolitical instability or when there are concerns about the stability of global financial systems.
• Store of value: Gold has maintained its value over long periods of time, making it a reliable store of wealth. This is a quality that has been recognised for centuries.
• Potential for capital appreciation: If the price of gold rises, the value of gold shares can also increase. This can lead to capital appreciation for investors.
• Accessibility: Investing in gold shares is accessible to a wide range of investors. It can be done through investing platforms, making it more convenient than buying physical gold.

What gold ETFs can I invest in?

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

• BetaShares Gold Bullion ETF ($QAU)
• iShares Gold Trust ETF ($IAU)
• VanEck Gold Miners ETF ($GDX)
• BetaShares Global Gold Miners ETF ($MNRS)

Find out which are the best gold ETFs to monitor and add to your watchlist.

What is the biggest gold mining company 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).

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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.