Gold Stocks — Fair Value & Margin of Safety

Equity Rank covers 32 Gold companies; 21 have a published model fair value, and 15 of those (71%) trade below the model estimate. The median model fair value sits 13.5% above the current price, under these model assumptions. Data as of 2026-10-22.

Source: Equity Rank — Gold stocks. Model fair value is a multi-method blend (DCF, Graham Number, earnings power, sector multiples and more), recomputed after each U.S. market close.

Gold stocks furthest below the model estimate

Among companies valued by at least five methods. A wide gap can also mean the models are missing something.

  1. FSM — Fortuna Silver Mines Inc: model fair value $15.62 vs. price $9.52, a model fair value differential of 64.1% above the current price (as of 2026-10-22)
  2. CMCL — Caledonia Mining Corporation: model fair value $31.01 vs. price $21.86, a model fair value differential of 41.9% above the current price (as of 2026-10-22)
  3. GFI — Gold Fields Ltd ADR: model fair value $49.22 vs. price $35.14, a model fair value differential of 40.1% above the current price (as of 2026-10-22)
  4. IAG — IAMGold Corporation: model fair value $22.34 vs. price $16.42, a model fair value differential of 36.0% above the current price (as of 2026-10-22)
  5. BTG — B2Gold Corp: model fair value $6.62 vs. price $4.87, a model fair value differential of 35.9% above the current price (as of 2026-10-22)
  6. CGAU — Centerra Gold Inc: model fair value $25.92 vs. price $20.50, a model fair value differential of 26.4% above the current price (as of 2026-10-22)
  7. KGC — Kinross Gold Corporation: model fair value $27.91 vs. price $22.68, a model fair value differential of 23.1% above the current price (as of 2026-10-22)
  8. B — Barrick Mining Corporation: model fair value $47.26 vs. price $38.65, a model fair value differential of 22.3% above the current price (as of 2026-10-22)
  9. EQX — Equinox Gold Corp: model fair value $12.48 vs. price $10.36, a model fair value differential of 20.5% above the current price (as of 2026-10-22)
  10. ARIS — Aris Mining Corporation: model fair value $18.41 vs. price $15.65, a model fair value differential of 17.6% above the current price (as of 2026-10-22)

All 32 Gold companies

TickerCompanyPriceModel fair valueGap
NEMNewmont Goldcorp Corp$114.11$113.31-0.7%
AEMAgnico Eagle Mines Limited$176.00$172.65-1.9%
BBarrick Mining Corporation$38.65$47.26+22.3%
WPMWheaton Precious Metals Corp$123.53Not published—
FNVFranco-Nevada Corporation$231.94Not published—
AUAngloGold Ashanti plc$85.19$92.93+9.1%
GFIGold Fields Ltd ADR$35.14$49.22+40.1%
KGCKinross Gold Corporation$22.68$27.91+23.1%
RGLDRoyal Gold Inc$234.72Not published—
PAASPan American Silver Corp.$41.07$42.55+3.6%
CDECoeur Mining Inc$13.88$15.75+13.5%
AGIAlamos Gold Inc$30.27$28.98-4.3%
EQXEquinox Gold Corp$10.36$12.48+20.5%
HMYHarmony Gold Mining Company Limited$16.22Not published—
IAGIAMGold Corporation$16.42$22.34+36.0%
EGOEldorado Gold Corp$32.91$31.10-5.5%
AUGOAura Minerals Inc. Common Shares$78.55$61.48-21.7%
BTGB2Gold Corp$4.87$6.62+35.9%
OROsisko Gold Ro$33.33Not published—
SSRMSSR Mining Inc$29.20$31.75+8.7%
CGAUCenterra Gold Inc$20.50$25.92+26.4%
ARISAris Mining Corporation$15.65$18.41+17.6%
FSMFortuna Silver Mines Inc$9.52$15.62+64.1%
AAUCAllied Gold Corporation$19.77$20.65+4.5%
NGNovaGold Resources Inc$6.24Not published—
SASeabridge Gold Inc.$24.82Not published—
DRDDRDGOLD Limited ADR$24.45Not published—
HYMCHycroft Mining Holding Corporation$15.75Not published—
DCDakota Gold Corp.$5.31Not published—
CTGOContango ORE Inc$14.49Not published—
CMCLCaledonia Mining Corporation$21.86$31.01+41.9%
IDRIdaho Strategic Resources Inc$19.91$13.12-34.1%

Largest companies first. Gap = model fair value differential versus the current price; positive means the price sits below the model estimate. “Not published” means the models lacked reliable data.

Compare Gold peers

NEM vs AEM · NEM vs B · NEM vs AU · NEM vs GFI · NEM vs KGC · AEM vs B · AEM vs AU · AEM vs GFI · AEM vs KGC · B vs AU · B vs GFI · B vs KGC · AU vs GFI · AU vs KGC · GFI vs KGC

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