President Donald Trump continues to ramp up his trade war, announcing new tariffs on the auto industry late Wednesday, adding to the schedule of duties set to hit next week. Although the U.S. stock market continues to struggle, winners have emerged against the overall weakness. Among those, the price of gold has soared to record highs with investors seeking safe haven assets. And it just so happens the many of the world's top gold mining stocks are domiciled in Canada.
Spot gold prices late Thursday jumped near $3,056 per ounce, just shy of the all-time high of $3,057.21 from March 20. The price of gold is up more than 16% in 2025. Silver is up about 17% this year, trading around $34.34 per ounce late Thursday. Meanwhile, the 75 stocks in IBD's Mining-Gold/Silver/Gems industry group have collectively climbed almost 28% this year. That lifted the group to a No. 2 ranking among the 197 industries tracked by IBD.
Among the strongest gains among Canadian mining firms:
Toronto-based Agnico-Eagle Mines leads Canadian miners with about a 38% gain this year. AEM stock is up 10.7% in March, and cleared a three-weeks tight pattern. Shares remain in a buy range above the 101.45 buy point. Agnico-Eagle has a market cap of $53.51 billion.
Wheaton Precious Metals of Vancouver boasts a 36% year-to-date gain through Thursday's close. WPM stock is extended and up 19% since clearing a double-bottom base in February. The company has a $34.66 billion market cap.
Fellow Toronto firm Kinross Gold is rebounding from 10-week support following a January breakout. It is at its highest level since 2012. KGC stock has jumped 35% in 2025, with a 16.4% gain in March. Kinross Gold has a market cap of $15.36 billion.
A couple of Toronto-based mining stock's are digging their way out of consolidations, recovering to new highs. Franco-Nevada is up 33.7% this year and trading at its highest level since May 2023. And Barrick Gold is up 26% in 2025. Shares are working up the right side of a cup base. The pattern's 21.35 buy point matches GOLD stock's October high. Franco-Nevada has a market cap of $30 billion, while Barrick's market cap is $34.1 billion.
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