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Gold is trading near all-time highs, resulting in it receiving much attention from investors.
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Newmont and AngloGold Ashanti are leading gold mining companies.
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The VanEck Gold Miners ETF is a great option for cautious investors who are uninterested in assuming the risks of a single gold mining company.
While rare earth minerals and other critical minerals have recently become flashpoints in the escalating trade war between the United States and China, gold has also remained at the top of investors’ minds.
But for those interested in becoming gold bugs themselves, where is there to turn? Instead of bulking up on bullion, investors would be wise to consider clicking the buy button on Newmont Mining (NYSE: NEM), AngloGold Ashanti (NYSE: AU), and the VanEck Gold Miners ETF (NYSEMKT: GDX).
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Newmont Mining is the only gold mining stock included in the S&P 500. It’s the largest gold stock by market cap available on major U.S. exchanges, helping to make it a glittering choice for those interested in a more conservative gold investment. In addition to North and South America, Newmont operates assets in Australia, Africa, and Papua New Guinea.
While some gold companies rely heavily on leverage to fund their various mining operations, Newmont has an investment-grade balance sheet thanks, in part, to its retiring of $1.4 billion in debt in 2024. Moreover, as of the end of first-quarter 2025, Newmont had a net debt-to-earnings before interest, taxes, depreciation, and amortization (EBITDA) ratio of 0.3.
Newmont has numerous growth projects in its pipeline to ensure it continues producing plenty of the yellow metal in years to come.
With the company generating strong free cash flow during this period of high gold prices, it seems likely that the company will be able to fund these projects with organic cash instead of relying on debt or issuing equity to raise capital in the near future.
For the most part, those looking to supplement their passive income streams are rushing to gold stocks. Because gold producing operations and activities to identify new resources are incredibly capital-intensive, businesses will often retain the cash they generate to fund future growth. But not AngloGold Ashanti. Instead, the company — whose stock offers an alluring 3.5% forward yield — is dedicated to returning capital to shareholders in addition to maintaining its financial health.
