Gold prices hit a new high, can gold stocks still be bought?

Some say not to overthink it; the most straightforward opportunities often yield the highest profits. The world's largest gold mining company, Newmont, expects a 71% increase in profits this year, with record free cash flow of $1.6 billion in Q3, and debt has decreased by $2 billion. The valuation is also not expensive, with a PE of only 14 times and a PEG ratio of just 0.5.

South Africa's Gold Fields data is even more alarming: earnings expectations have risen by 136% (2025), and are expected to rise another 48% next year. Debt has significantly decreased, and there is a 1.7% dividend. The PEG ratio is only 0.26, a solid combination of growth and undervaluation.

Kinross Gold in Canada is also doing well, with a record free cash flow of 700 million in Q3, achieving a net cash position of 485 million. This year's earnings are expected to increase by 140%, and recently they raised the dividend by 17%, expanding the buyback to 600 million.

These three are all recommended buy targets by institutions. Gold prices are still at historical highs, miners' Q3 results are record-breaking, and performance expectations for 2026 continue to expand—it's not too late to get on board now.