1. Barrick Gold Corp (ABX.TO)
Barrick Gold Corp is one of the largest gold mining companies globally and a top performer on the TSX in 2024. The company has a solid history of efficiently managing their mining operations, and this efficiency is mirrored in their ability to persistently deliver significant returns to investors. Additionally, their strategic partnerships with Chinese and Saudi Arabian entities have expanded their opportunities for growth and profit margin increases.
Moreover, Barrick Gold Corp’s commitment to environmental sustainability and economic development of communities also provides a solid societal investment, alongside their monetary returns, firmly placing them at the top of our list.
2. Franco-Nevada Corporation (FNV.TO)
Established in 2007, Franco-Nevada has swiftly risen through the ranks to become a leading gold investment stock on the TSX. This company operates on a different model, that of a gold-focused royalty and stream company, which is a business model where the company finances the mining exploration and production, in return for either a percentage of the mine’s future production or a fixed fee per unit output.
Franco-Nevada’s diversified portfolio of assets across multiple geographical locations and mining companies insulates investors from factors that typically affect traditional mining companies, like operational issues or geographical risks, which contributes to their ranking as a top-performing stock.
3. Agnico Eagle Mines Limited (AEM.TO)
Agnico Eagle Mines Limited, with over six decades of experience in the mining sector, continues to deliver impressive results on the TSX. The company operates primarily in Canada, Finland, and Mexico.
Agnico’s operations are largely unhindered by geopolitical uncertainties that impact other mining operations globally. Moreover, the firm focuses on exploration and production of precious minerals apart from gold, such as silver, zinc, and copper, offering diversification within its portfolio. Their consistent production and cash flow have ensured steady dividends payouts, making this stock attractive for investors looking for regular income.
4. Yamana Gold Inc. (YRI.TO)
Yamana Gold Inc. has registered considerable gains in 2024, thanks to its successful operations spread across America. The company’s diligent push toward increasing production while keeping costs on the lower side has been a major driving force behind its impressive performance.
Yamana Gold has demonstrated strong financial discipline, which has resulted in DE (debt-to-equity) ratios that are much lower than industry norms. This strategic position offers resilience against possible
