Gold mining stocks are gaining renewed attention following bullish forecasts from top financial institutions. Analysts at JP Morgan have projected that gold prices could reach $4,100 per ounce by 2026, asserting that current gold equities remain undervalued across all tiers—from major producers to small- and mid-cap companies.
Jefferies analysts echoed this sentiment, citing a historic valuation gap in the gold sector. Many gold stocks are still priced as if gold were trading at only $2,500 an ounce, despite its steady climb. This growing disparity is fueling calls for a breakout in mining equities, which could shift investor focus toward a broad spectrum of gold miners.
Among the companies drawing increased attention are Rua Gold Inc. (TSXV: RUA), Great Pacific Gold Corp. (TSXV: GPAC), 1911 Gold Corporation (TSXV: AUMB), Fortuna Mining Corp. (NYSE: FSM), and Seabridge Gold (NYSE: SA)—each showing promising exploration results or strategic expansions.
Central Banks Drive Demand in Bull Market
Gold’s recent momentum has been largely driven by central bank purchases, according to Goldman Sachs. Banks have been buying roughly 80 metric tons of gold per month, equivalent to around $8.5 billion at current prices. Analysts like George Milling-Stanley of State Street Global Advisors argue that the yellow metal’s status as a safe-haven asset makes it increasingly attractive amid geopolitical and economic uncertainty.
Rua Gold Leads With High-Grade Discoveries in New Zealand
Rua Gold Inc. is emerging as a frontrunner in the exploration space, leveraging AI-powered targeting tools to fast-track high-grade gold discoveries. The company recently reported new intercepts from its Cumberland project, including:
- 1 metre at 26.9 g/t gold
- 1 metre at 16.2 g/t gold
- A previously announced highlight: 1 metre at 1,911 g/t gold
These results confirm near-surface continuity of the Gallant vein system, which Rua Gold identified using VRIFY’s AI platform.
“This is a strong validation of our targeting technology and confirms the potential for a broader mineralized zone,” said Robert Eckford, CEO of Rua Gold. The Gallant prospect—just 3 km from the historic Globe Progress mine—hosts steeply dipping quartz veins up to 14 metres thick. A follow-up drill program is now underway.
Rua Gold also controls nearly 95% of the historic Reefton Goldfield, where over 2 million ounces of gold have been mined historically. In its Auld Creek project, recent drill results include:
- 9.0 metres at 5.9 g/t gold equivalent
- 1.25 metres at 48.3 g/t
- Prior hits of 12 metres at 12.2 g/t, including 2 metres at 54.8 g/t
Notably, Auld Creek also contains significant antimony mineralization, with samples exceeding 40% antimony content. Given New Zealand’s pending classification of antimony as a critical mineral in 2025, this boosts the strategic importance of the project.
On the North Island, Rua is advancing its Glamorgan project in the Hauraki Goldfield. Surface campaigns have identified three gold-arsenic anomalies across a 4-kilometre corridor, with rock chips up to 43 g/t gold. Drilling is awaiting final approval, guided by VRIFY’s DORA AI engine.
Backed by $5.75 million in capital and led by a team with over $11 billion in prior mining exits, Rua Gold is positioning itself as one of New Zealand’s most advanced early-stage explorers.
Global Gold Miners Deliver Promising Updates
Great Pacific Gold Corp. (TSXV: GPAC)
At the Wild Dog project in Papua New Guinea, the company recently drilled:
- 7.0 metres at 10.3 g/t gold equivalent
- Including 2.0 metres at 14.3 g/t
“This confirms the high-grade potential of this system,” said CEO Greg McCunn. The current 2,500-metre program includes 16 planned holes across a 15-kilometre trend. Results from additional holes are pending.
1911 Gold Corporation (TSXV: AUMB)
At the San Antonio West target, part of the True North project, the company intersected:
- 1.0 metre at 62.40 g/t gold
- 2.1 metres at 8.81 g/t
CEO Shaun Heinrichs noted that the zone now features three parallel vein systems stretching over 500 metres laterally and 260 metres vertically. With 39 holes drilled and 30,000 metres planned, 1911 is prioritizing resource expansion and underground access.
Fortuna Mining Corp. (NYSE: FSM)
At the Diamba Sud Project, recent results include:
- 13.6 metres at 8.6 g/t gold
- 11.8 metres at 9.3 g/t
- Area D: 6.4 metres at 113.7 g/t gold
- Area A: 28.8 metres at 3.0 g/t
SVP of Exploration Paul Weedon emphasized the project’s resource growth potential, especially in zones with limited past drilling. Updated resource estimates are in progress.
Seabridge Gold (NYSE: SA)
The company has begun drilling at Snip North, part of the Iskut Project in British Columbia. The new copper-gold porphyry discovery lies along the Bronson Trend, a district-scale structural zone.
“Snip North has the hallmarks of a major porphyry system,” said CEO Rudi Fronk. Seabridge plans to drill 8,000 metres with three portable rigs in search of a maiden resource estimate and deeper intrusive bodies.
Outlook: Gold Equities Set for Revaluation
With gold potentially headed to $4,100/oz, analysts believe many mining stocks remain significantly undervalued. Combined with historic-grade drill results, increased AI-assisted exploration, and central bank demand, the stage is set for a broad mining sector breakout. Companies like Rua Gold and its peers could be early beneficiaries of this anticipated revaluation cycle.
