Gold stocks have been under pressure in recent months as the gold price has weakened; however, there are still good buys to be had in the sector, according to UBS analysts.
I've selected three recent reports from the broker looking at companies they believe could deliver solid returns over the next year.
Let's see who they like.
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Newmont Corporation (ASX: NEM)
Newmont last week released its second-quarter production results, reporting 1.3 million ounces of gold produced along with seven million ounces of silver and 17 thousand tonnes of copper.
The company said it remained on track to hit its 2026 guidance of 5.3 million ounces of gold.
For the first half, the cost of production was US$1621 per ounce, with year-to-date costs running below guidance levels, the company said.
First-half adjusted EBITDA was US$3.8 billion, and the company returned US$1.9 billion to shareholders through dividends and share buybacks over the half.
UBS said Newmont's second-quarter results were mixed but slightly ahead of consensus, with gold production a small beat.
They added:
The numbers and outlook are encouraging in our view and NEM is well on track to deliver FY26 production and cost guidance with a more balanced first half/second half weighting. Although the rate of cash returns slows from 1Q26 record levels, NEM is returning more cash than any other miner; if gold holds at about $4,000/ oz, this is likely to continue.
UBS has a price target of $180 on Newmont shares compared to $134.76 currently.
Genesis Minerals Ltd (ASX: GMD)
Genesis is in the process of merging with fellow gold producer Vault Minerals Ltd (ASX: VAU) in a deal that values Vault at $5.6 billion and will create a merged company worth $12.6 billion.
The company said in previous ASX announcements that the merger is expected to generate synergies of about $2 billion, which are only available due to the proximity of the companies' respective operations.
The merged company will have an annual production of 600,000 to 700,000 ounces of gold post-merger.
UBS said they could see production growing to more than 800,000 ounces per year by FY31, and they believe there is potential for a step-up in shareholder returns.
UBS has a price target on Genesis of $9.50 compared to $5.87 currently.
Regis Resources Ltd (ASX: RRL)
UBS said Regis' June quarter results were strong, with the company hitting the upper end of its annual guidance, delivering 379,000 ounces against guidance of 350,000 to 380,000.
The broker said they expected the company's FY27 production to come in at the higher end of guidance of 360,000 to 400,000 ounces.
They are also expecting the company to pay a dividend yield of about 5%.
UBS has a price target on Regis of $7.55 compared to $5.97 currently.
