These are some of the best-performing stocks for companies involved in gold production

Gold is one of the most famous of all safe-haven assets, traditionally included in portfolios as a hedge against inflation and market turbulence. Investors have many ways to access gold—as a physical commodity in the form of jewelry or bullion, through specialized exchange-traded funds (ETFs), and indirectly via investments in the stocks of companies that mine and produce gold.

Key Takeaways

• The top gold-mining companies for May 2025, based on 30-day returns, include Harmony Gold Mining Co. (HMY), Perpetua Resources Corp. (PPTA), and Eldorado Gold Corp. (EGO).
• Investors looking for exposure to gold without making a direct investment in the commodity itself might consider gold-mining company stocks.
• The price of gold is roughly $3,322 per ounce, as the precious metal has repeatedly set all-time high records in recent months.

We explore the best gold stocks for investors to watch in May 2025, based on 30-day returns. Our screen focuses on mining companies that target gold, although many also include other precious metals. Below is a detailed explanation of the methodology we utilize to create our ranking of gold mining company stocks. All data are current as of April 24, 2025.

Best Gold Stocks to Watch in May 2025
Ticker	Company	Market Cap ($B)	Price ($)	30-Day Return (%)	P/E Ratio
HMY	Harmony Gold Mining Co.	10.0	15.97	24.7	17.4
PPTA	Perpetua Resources Corp.	1.0	13.60	22.2	N/A
EGO	Eldorado Gold Corp.	4.0	19.26	20.7	14.3
SAND	Sandstorm Gold Ltd.	2.5	8.39	20.0	183.4
IAG	Iamgold Corp.	4.1	7.19	19.0	5.2
SKE	Skeena Resources Ltd.	1.4	12.13	16.4	N/A
KGC	Kinross Gold Corp.	17.7	14.38	16.1	19.6
NEM	Newmont Corp.	61.4	54.51	15.2	18.7
RGLD	Royal Gold Inc.	12.0	182.25	15.1	36.1
AU	AngloGold Ashanti PLC	20.4	40.30	13.0	17.3

What to Know About Investing in Gold

The price of gold was about $3,322 per ounce as of late April 2025. The metal has repeatedly set new records in recent months. Ongoing tariff concerns, market instability due to domestic and international geopolitical tensions, and a shifting interest rate environment in 2024 and early 2025 all helped to push gold higher, as investors sought out a stable place to park assets.

While investors typically look to avoid entering a new position when it’s close to a record high, there are many reasons why it may still pay to invest in gold. First, there is no guarantee that gold will fall from its high price point. Further, it can still offer a hedge against inflation, despite the fact that gold is quite expensive. But while gold does not offer some of the benefits of stock investments—such as the prospect of dividend payments—investors looking for indirect access can find it by looking to companies involved in mining and producing this precious metal.

How We Chose the Best Gold Stocks

In our screen, we considered gold-mining companies with shares trading on the Nasdaq or the New York Stock Exchange. We excluded firms with stock prices under $5, with less than 100,000 in average daily trading volume, or with a market capitalization under $300 million. These measures help ensure that our list includes only well-established companies. Finally, we ranked all remaining gold mining companies based on highest 30-day return and excluded any with a negative return during that period.

Following this search, we found a number of gold mining companies with 30-day returns as high as 24.7%. Notably, some of the companies on this list do not have a P/E ratio. This is sometimes the result of a company experiencing net losses in the current and/or prior-year quarter, making it impossible to calculate this metric.

Gold Advantages and Disadvantages

Before investing in gold mining companies, investors should consider a few important benefits and risks. Advantages of these firms may include their potential to be a leveraged play on gold. As the price of gold rises, the share prices of these companies may rise as well—and they may experience even higher returns thanks to their crucial role in producing gold for physical investment. Rising gold prices can also lead to significant capital gains for gold mining firms when their profits increase as well. Another benefit of gold mining firms is their higher liquidity compared to physical gold. Lastly, investing in bullion, jewelry, or other physical gold products also requires paying for transportation and storage costs—not required when investing in gold mining stocks—and carries the risk of loss or theft.

One of the key potential disadvantages of an investment in a gold-mining stock is that most of these companies do not focus exclusively on gold. This means they are not pure-play gold investments and that they are also subject to fluctuations in other minerals covered by the operations as well. Mining firms tend to have operations scattered around the world in many different locations, so regulations can vary dramatically from one site to another. Monitoring the impact of these regulations can be difficult for investors. Of course, mining firms are also exposed to many other risks and factors that may separate their performance from that of physical gold. And when gold rises, there is no guarantee that the price of shares of a mining firm will also climb.

The stocks listed above are at the top of our list for this month. However, past performance is not a guarantee of any future returns.

The Bottom Line

For investors seeking an alternative to physical gold investments, gold-mining stocks offer an alternative. These companies may provide some degree of indirect access to the gold market. While their prices may correlate with the price of physical gold, that’s not always the case. Still, for some investors, the opportunity to avoid the logistical considerations, liquidity limitations, and other concerns associated with a physical investment in gold makes gold-mining firms a worthwhile alternative.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info. As of the date this article was written, the author does not own any of the securities listed above.

Low tax rates have made it a magnet for global finance

Reviewed by Ebony Howard
Fact checked by Yarilet Perez

Singapore’s low taxes and other incentives for foreign investors qualify it as a tax haven. Resident taxpayers pay a progressive tax on personal income. For tax year 2024 and beyond, the highest marginal rate is 24% for income above S$1 million. Singapore generally doesn’t tax capital gains. Note that all figures in this article are quoted in Singapore dollars (SGD).

This kind of tax policy, and a location that makes it a gateway for companies that want to expand into emerging Asian economies, make this island city-state a global hub for international investment and commerce.

Key Takeaways

• Singapore is lauded as a center for international trade and finance.
• It is considered a tax haven with several favorable policies for people living and doing business there.
• The country offers several tax breaks, boasts a relatively low corporate tax rate and top personal tax bracket, and does not levy taxes on capital gains.

Singapore’s Corporate Rates

The corporate income tax rate in Singapore is a flat 17%. However, the effective corporate tax rate could be lowered by other incentives introduced by the Inland Revenue Authority of Singapore.

Startups in Singapore can take advantage of a tax exemption of up to S$125,000 on the first S$200,000 of income for their first three consecutive years of business. To qualify for the startup tax exemption, companies must be incorporated in Singapore and have a maximum of 20 shareholders. If all shareholders are not individuals, then at least one shareholder must be an individual who holds a minimum of 10% of shares.

Companies that have not previously claimed the Tax Exemption for New Start-Up Companies can claim the Partial Tax Exemption for Companies. This allows for an exemption of up to S$102,500 on the first S$200,000 of chargeable income.

Note

Between tax years 2017 and 2023, the top marginal rate was 22%. The highest tax bracket was defined as income above S$320,000.

Other Tax Breaks

Singapore also offers tax exemptions for businesses in certain industries. These include breaks for qualifying foreign banks, offshore funds, and global trading companies.

• Banks are eligible for a withholding tax exemption on payments to non-resident companies made between April 1, 2011, and December 31, 2026, that are based on agreements that take effect between those dates.
• Qualifying offshore funds are also exempt from tax on some income, including income from dividends, gains, profits, and interest from traditional investments including deposits, bonds, shares, stocks, and securities.
• Global trading companies are eligible for concessionary tax rates of 5%, 10%, and 15% for five years if they qualify for Singapore’s Global Trader Programme. Singapore typically grants Global Trader status to companies with established track records in international trade.

Oversight in Singapore

Banks and financial institutions in the city-state are required to exercise due diligence to help prevent money laundering and other international criminal activity.

Under Singapore law, records are private. As such, financial institutions are not required to provide access to personal data about individuals. However, Singapore provides exceptions to banking confidentiality agreements upon request by foreign authorities in cases where accounts were used to shield criminal activity. The Monetary Authority of Singapore regulates its financial institutions.

How Stable Is Singapore’s Economy?

Singapore’s economy is considered to be safe and stable. According to the World Bank, the nation functions on a “high-income” economy with strong investments in infrastructure, education, healthcare, and public services. Its regulatory environment is very business-friendly. Singapore’s economic growth was 1.1% in 2023 and the country ranked among the top countries in human capital development.

How Do I Invest in Singapore?

There are different ways to take advantage of Singapore’s growth. You can invest directly in companies based in the island nation by trading stocks through a brokerage account. You can also purchase American depositary receipts (ADRs) that trade on domestic exchanges, shares of exchange-traded funds (ETFs), and/or mutual fund shares that have Singaporean companies and assets (like bonds) in their portfolios.

What Is a Tax Haven?

A tax haven is a jurisdiction that offers favorable tax treatment to individuals and corporations, specifically to those who don’t permanently reside there. Tax havens may offer low tax rates, secrecy, asset protection, and financial privacy. They may also waive any residency requirements for favorable treatment. Some of the most common tax havens include the Cayman Islands, Switzerland, Bermuda, and Singapore.

The Bottom Line

Tax havens are often characterized by favorable tax treatment, especially when it comes to offshore corporations. This is one reason why Singapore is often considered to be one. Startups can take advantage of tax exemptions and capital gains are generally not taxed in the country. Singapore also provides financial privacy as long as there is no criminal activity suspected.

Correction—Oct. 20, 2022: This article has been edited from a previous version that misstated the currency for the marginal income tax bracket in Singapore as United States Dollars instead of Singapore Dollars.