Gold Has Gone Sideways, But These 3 Stocks Haven’t

Gold is trading roughly flat year to date in 2026, while gold miners and metals streaming companies have outperformed the metal itself.

Coeur Mining, Alamos Gold, and Wheaton Precious Metals have each posted recent share price gains, supported by strong free cash flow, dividends, and buybacks.

Each company faces distinct challenges, including reduced guidance from Coeur and Alamos and Wheaton's dependence on gold and silver spot prices.

The price of gold briefly dipped surrounding the Federal Reserve's recent announcement of its first interest rate hike in three years, but quickly rebounded. After the incredible multi-quarter rally in recent years, gold has had a more tumultuous 2026 so far, but is essentially trading flat year to date (YTD). The same is not true, however, for a number of companies involved in the gold production industry—both miners and metals streaming firms—all of which have outperformed the precious metal itself over the same period.

While a confluence of factors is likely to impact the price of gold through the end of the year, from central bank buying trends and evolving geopolitics to ongoing inflation, higher interest rates, and changing U.S. dollar strength, investors may feel that a position in one or more of these companies is more stable than buying up more bullion or gold futures.

Coeur's Transformation Is Ongoing and Significant

Coeur Mining (NYSE: CDE) drew investor attention earlier in the year for its strong performance and share price under $20; it is now trading just above that threshold, but despite not being quite as cheap, its impressive growth may very well still warrant consideration. Coeur's latest earnings report in August was promising in multiple ways. Despite a moderate revenue miss and a more significant earnings per share (EPS) miss, Coeur still reported record quarterly performance with $1.1 billion in revenue, adjusted EBITDA at a sizable $478 million, and healthy free cash flow.

The company's major acquisitions and expansions are underway and should contribute to H2 2026 performance, even as inflation has threatened to undercut profits. What may have scared investors is that Coeur's guidance was cut due to these operational headwinds, but fundamentally, the company still offers many compelling attributes as a business. In the meantime, its growing pile of cash has made it possible to launch a new dividend and share buyback program. Looking at Coeur's situation from just a couple of years ago, when it faced major debt challenges, and comparing it to today—with free cash flow sufficient to return value to shareholders—it may be clearer why CDE shares are up about 7% in the last month.