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  Title	Zacks Industry Outlook Highlights Newmont Mining, Agnico Eagle Mines, Kinross Gold, Royal Gold and Centerra Gold
  ID	29218921
  External ID	092000260
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  Published Date	Dec. 10, 2025, 3:20 a.m.
  Summary	Zacks Industry Outlook Highlights Newmont Mining, Agnico Eagle Mines, Kinross Gold, Royal Gold and Centerra Gold Zacks Equity Research Wed, December 10, 2025 at 4:20 AM EST 11 min read GC=F NEM NEMCL
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  URL	https://finance.yahoo.com/news/zacks-industry-outlook-highlights-newmont-092000260.html
  Sentiment	Negative: 0.01037    Neutral: 0.78083    Positive: 0.20880
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  Content ID	36805662
  Key	3e78a985-f1df-4704-9105-0458c860926b
  Content	Zacks Industry Outlook Highlights Newmont Mining, Agnico Eagle Mines, Kinross Gold, Royal Gold and Centerra Gold Zacks Equity Research Wed, December 10, 2025 at 4:20 AM EST 11 min read GC=F NEM NEMCL KGC KGCRF For Immediate Release Chicago, IL – December 10, 2025 – Today, Zacks Equity Research discusses Newmont Mining NEM, Agnico Eagle Mines Ltd. AEM, Kinross Gold Corp. KGC, Royal Gold RGLD and Centerra Gold CGAU. Industry: Gold Mining Link: https://www.zacks.com/commentary/2801430/5-gold-mining-stocks-to-buy-to-ride-the-solid-industry-trends The prospects for the Zacks Mining - Gold industry look bright, backed by the unprecedented 60% growth seen in gold prices so far this year. The bullion is expected to trend higher, supported by ongoing geopolitical uncertainty and central bank buying. With gold prices expected to increase further due to demand-supply imbalance, companies like Newmont Mining , Agnico Eagle Mines Ltd. , Kinross Gold Corp. , Royal Gold and Centerra Gold are well-positioned to capitalize on this, backed by their strong balance sheets, efforts to lower costs and growth initiatives. About the Industry The Zacks Mining - Gold industry comprises companies engaged in extracting gold from mines. These mines may either be underground or open pits. Mining is a long and complex process and requires significant financial resources. It involves exploring to evaluate a deposit's size; assessing ways to extract and process ore efficiently, safely and responsibly; and developing the mine before the actual mining process. It usually takes 10-20 years for a gold mine to produce material that can finally be refined. Nowadays, industry players use a range of sophisticated techniques to extract gold and convert it into dore bars, an alloy of gold and silver, alongside other impurities. These are then sent for purification, after which gold is purchased as bars or coins, or used in jewelry or other purposes. Major Trends Shaping the Future of the Mining-Gold Industry Solid Gold Price Momentum to Drive Industry Growth : Gold has delivered an exceptional performance this year, breaking above $4,000 an ounce for the first time and surging nearly 60% year to date. The rally has been driven by escalating geopolitical and economic uncertainty, a weaker U.S. dollar and continued strong central bank purchases. Prices are currently above $4,200 per ounce, with investors awaiting the Federal Reserve’s policy meeting, with expectations of a 25-basis point rate cut. As 2026 approaches, gold appears poised to maintain its upward trajectory, supported by persistent global uncertainty. Central bank buying patterns will also play a key role in shaping the market outlook. Efforts to Counter High Costs to Sustain Margins : The industry has been facing a shortage of skilled workforce, causing a spike in wages. Industry players are grappling with escalating production costs, including electricity, water, and material and supply-chain issues. Since the industry cannot control gold prices, it focuses on improving the sales volume and the operating cash flow, as well as lowering unit net cash costs. The industry participants are opting for alternate energy sources, such as solar or wind farms, to minimize fuel-price volatility and secure supply. Miners are committed to cost-reduction strategies and digital innovation to drive operating efficiencies. Story Continues Demand & Supply Imbalance to Support Prices : Depleting resources, declining supply in old mines and the lack of new mines have been inherent threats to the industry. Due to the scarcity of discoveries and exhaustive existing resources, miners prefer building up reserves through acquisitions rather than digging new ones that are risky and capital-intensive. On the demand side, the use of gold in energy, healthcare and technology is rising. India and China account for around 50% of consumer gold demand. Gold demand in India will remain strong on improving economic momentum and consumer confidence. The yellow metal has long been considered a safe-haven investment amid financial or political uncertainty. Central banks have been ramping up reserves held in gold due to currency depreciation and geopolitical and economic risks. Therefore, there will be an eventual demand-supply imbalance, which will likely drive gold prices. Zacks Industry Rank Indicates Bright Prospects The group’s Zacks Industry Rank, the average of the Zacks Rank of all the member stocks, indicates encouraging near-term prospects. The Zacks Mining - Gold Industry, which is a 40-stock group within the broader Zacks Basic Materials sector, currently carries a Zacks Industry Rank #31, which places it in the top 13% of 243 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Before we present a few stocks that you may want to consider for your portfolio, let us take a look at the industry’s recent stock-market performance and valuation picture. Industry Versus S&P 500 & Sector The Mining-Gold Industry has outperformed the sector and the Zacks S&P 500 composite over the past year. The stocks in the industry have collectively grown 113.2% compared with the broader sector’s rise of 14.5%. The S&P 500 has gained 16.3% in the same timeframe. Industry's Current Valuation On the basis of the trailing 12-month EV/EBITDA, a commonly used multiple for valuing gold-mining companies, we see that the industry is currently trading at 9.45X compared with the S&P 500’s 18.74X and the Basic Material sector’s trailing 12-month EV/EBITDA of 14.36X. Over the last five years, the industry traded as high as 12.01X and as low as 5.25X, the median being 7.76X. 5 Mining-Gold Stocks to Bet On Newmont : The company recently announced that its Ahafo North project in Ghana reached commercial production and is expected to produce 50,000 ounces of gold in 2025, with a full ramp-up expected in 2026. Over the next five years, the operation is expected to deliver 275,000-325,000 ounces of gold annually. NEM remains on track to produce 5.6 million ounces in 2025, backed by strong execution across its managed operations. The company generated a third-quarter record free cash flow of $1.6 billion, marking the fourth straight quarter above $1 billion. NEM is also making significant progress on the cost savings initiatives announced in February 2025. The company has been divesting non-core businesses as it shifts its strategic focus to Tier 1 assets, generating approximately $2.6 billion. It has also reduced debt by $2 billion through the completion of a successful debt tender offer, ending the quarter in a near-zero net debt position with $5.6 billion of cash and $9.6 billion in total liquidity. NEM shares have gained 70% over the past six months. Headquartered in Denver, CO, Newmont has a trailing four-quarter earnings surprise of 41.6%, on average. The Zacks Consensus Estimate for NEM’s 2025 earnings has moved up 11% over the past 60 days and indicates year-over-year growth of 74.1%. The company has a long-term estimated earnings growth of 23.7%. Newmont currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here . Agnico Eagle Mines : The company remains focused on executing projects that are set to boost production and cash flows. It is advancing its key value drivers and pipeline projects, including the Odyssey project in the Canadian Malartic Complex, Detour Lake, Hope Bay, Upper Beaver and San Nicolas. AEM reported third-quarter free cash flow of roughly $1.2 billion, nearly double the prior-year quarter level, aided by higher gold prices as well as solid operational results. The company has been repaying debt and ended the quarter with a significant net cash position of nearly $2.2 billion. Agnico Eagle Mines remains on track to achieve its targeted gold production of 3.3-3.5 million ounces. AEM shares have gained 40.7% over the past six months. The Zacks Consensus Estimate for this Toronto, Canada-based company’s earnings for fiscal 2025 has moved up 10% over the past 60 days. The estimate indicates 83.9% year-over-year growth. AEM has a trailing four-quarter earnings surprise of 11.6%, on average and a long-term estimated earnings growth of 35.3%. Agnico Eagle currently sports a Zacks Rank of 1. Kinross Gold : The company’s strong liquidity position and substantial cash flows allow it to finance its development projects while paying down debt and driving shareholder value. Kinross has a strong production profile and boasts a promising pipeline of exploration and development projects. Its key development projects and exploration programs, including Great Bear in Ontario and Round Mountain Phase X in Nevada, remain on track. These projects are expected to boost production and cash flow and deliver significant value. Meanwhile, Tasiast and Paracatu, KGC's two biggest assets, remain the key contributors to cash flow generation and production. KGC reported a record free cash flow of $686.7 million in the third quarter of 2025. KGC shares have gained 78.7% over the past six months. The Zacks Consensus Estimate for this Toronto, Canada-based company’s earnings for fiscal 2025 has moved up 20% over the past 60 days. The estimate indicates 145.6% year-over-year growth. KGC has a trailing four-quarter earnings surprise of 17.4%, on average. The company has a long-term estimated earnings growth of 40.85% and currently sports a Zacks Rank of 1. Royal Gold : The company reported record revenues and cash flows in the third quarter of 2025. Its underlying business continues to produce excellent results, with Royal Gold seeing value additions from the Mount Milligan mine life extension and Fourmile exploration success. The company also recently acquired the large and long-life Kansanshi stream. Royal Gold closed the acquisitions of Sandstorm Gold and Horizon Copper in October 2025, adding 40 producing assets to its portfolio. These assets are expected to generate gold equivalent ounces (GEO) of 65,000-80,000 in 2025. The transaction is expected to increase GEO production by 26%. After the transaction, the revenue mix is expected to be 87% from precious metals, with gold accounting for 75% of the total revenues. RGLD shares have gained 14.2% in the past six months. The Zacks Consensus Estimate for this Denver, CO-based company’s earnings for fiscal 2025 has moved up 3.8% over the past 60 days. The estimate indicates 51.5% year-over-year growth. RGLD has a trailing four-quarter earnings surprise of 3.9%, on average. The Zacks Ranked #1 stock has a long-term estimated earnings growth of 32.8%. Centerra Gold : The company reported upbeat third-quarter 2025 results with robust margins and generated nearly $100 million in free cash flows, aided by strong operational performance at Öksüt and higher prices. CGAU’s cash balance increased to $562 million in the quarter, positioning it to fund the Thompson Creek restart. The company’s recently released Pre-Feasibility Study for its Mount Milligan mine in British Columbia confirms a life of mine extension to 2045. This will be driven by disciplined future investments, including increasing process plant capacity in 2029 and constructing a second tailings storage facility (TSF) in the first half of the 2030s. The mine is a strategic key asset in Centerra’s portfolio, as a long-life, low-cost asset with strong gold-copper output, solid cash flow generation and further exploration upside in a top-tier jurisdiction. CGAU shares have gained 85.5% over the past six months. The Zacks Consensus Estimate for this Toronto, Canada-based company’s earnings for fiscal 2025 has moved up 26% over the past 60 days. The estimate indicates 36.6% year-over-year growth. CGAU has a trailing four-quarter earnings surprise of 21.6%, on average. The company has a long-term estimated earnings growth of 27.4% and currently sports a Zacks Rank of 1. Why Haven't You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@zacks.com https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM) : Free Stock Analysis Report Kinross Gold Corporation (KGC) : Free Stock Analysis Report Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report Royal Gold, Inc. (RGLD) : Free Stock Analysis Report Centerra Gold Inc. (CGAU) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research View Comments Terms and Privacy Policy Your Privacy Choices More Info
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