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For Your Education and Enjoyment The Metals Market Is Heating Up—4 Stocks Poised to ShineWritten by Bridget Bennett. Published 11/6/2025. 
Key Points - Gold has risen from $1,800 to nearly $3,000—and according to Brett Eversole, it could go much higher.
- Retail investors are just starting to re-enter the gold market, signaling a new, accelerating phase.
- Four metal stocks offer potential upside for investors looking beyond bullion: AG, HL, EQX, and SA.
It's one of the fastest-growing markets out there, yet most investors are still overlooking it. Gold has climbed from about $1,800 an ounce to nearly $3,000, and according to Stansberry Research's Brett Eversole, that's just the beginning. He believes this bull market could ultimately send gold to $8,000–$10,000 per ounce before it's all over. 7 High Yield Dividend Stocks to Buy Now 💰
Love steady payouts? This free report reveals 7 high-yield dividend stocks you need to know about. From Company #3, a tobacco giant innovating with smokeless products, to Company #4, famously known as "The Monthly Dividend Company," these picks deliver steady income you can count on. Perfect for income-focused investors. That might sound bold, but the data—and the investor behavior behind it—paint a persuasive picture. A Shift in Who's Buying Gold For years, central banks were the primary drivers of higher gold prices. Between 2022 and 2024, global institutions steadily sold Treasury bonds and shifted allocations into gold. Retail investors, by contrast, were largely absent. That's starting to change. Eversole points to a key indicator: shares outstanding in gold ETFs like SPDR Gold Shares (NYSEARCA: GLD), which had been declining for years. That trend has now reversed. ETF shares are rising again—a sign that individual investors are moving back into the market. When retail investors finally join a boom, history shows what typically follows: - The trend accelerates
- Valuations climb quickly
- The boom eventually turns into a bubble
But, as Eversole puts it, "Between now and then, there's a lot of money to be made." Why Gold (and Silver) Still Have Room to Run Markets move in cycles. The last major gold boom began in 2001 and lasted roughly a decade, with prices rising about 600% before peaking. The current cycle started around 2018, so we're only a few years into a comparable long-term trend. If history repeats, gold could approximately double from here—and silver may see even larger percentage gains. Silver has long been the "wild card" of the metals complex: more volatile and speculative, but capable of much greater percentage moves once momentum builds. Eversole believes we're approaching that stage now. If gold reaches $8,000, silver could hit $200 an ounce—roughly four times current levels. That potential makes selected mining stocks particularly compelling today. 4 Mining Stocks That Could Lead the Metals Boom There's more than one way to play a metals bull market—these four names illustrate different approaches. They aren't household names yet, but Brett Eversole believes they have significant upside as gold and silver climb. First Majestic Silver: A Pure Play on Silver's Breakout If silver surges in the later stages of this cycle, First Majestic Silver (NYSE: AG) could be a major beneficiary. Headquartered in Canada, the company's mines are all in Mexico, and about 60% of its revenue comes from silver. This isn't a newcomer to metals rallies. "During the early 2000s, they were up five or six hundred percent in a couple of years," Brett says. "Coming out of the financial crisis, they were up a couple of thousand percent." That track record suggests First Majestic can outperform when silver's momentum kicks in. Hecla Mining: A Low-Cost Producer with Strong Leverage Hecla Mining (NYSE: HL) provides exposure to both gold and silver, with production split roughly 50/50. What sets Hecla apart is its low cost structure and stable jurisdictions. "They've got strong assets in good places and they're a low-cost producer," Brett notes. "Their cost to pull an ounce of silver out of the ground is around $13 an ounce. That's about half the industry average." That cost advantage lets Hecla capture more profit as metal prices rise—without relying on risky jurisdictions or unproven projects. Equinox Gold: From Builder to Cash Generator Equinox Gold (NYSEAMERICAN: EQX) has shifted from asset accumulation to profitability. After years of investment in growth, the company is now positioned to generate significant cash as gold prices climb. Production is projected to rise from about 800,000 to 1.2 million ounces by 2027, while costs are expected to drop from $1,900 to $1,500 per ounce. It's the kind of operational pivot investors look for. "This company is going to turn into this just like cash-gushing machine," Brett says. With projected free cash flow rising from roughly $80 million to $1 billion, Equinox is transforming into a miner built for the moment. Seabridge Gold: A High-Upside Bet on What's Still Underground Seabridge Gold (NYSE: SA) doesn't currently produce gold, but it holds one of the largest undeveloped gold and copper assets in the world. Its flagship KSM project in British Columbia is estimated to contain between $25 billion and $30 billion worth of metals. What Seabridge needs now is a partner. "I think that when that joint venture deal is announced… this is a massive upside catalyst for the stock," Brett says. Seabridge is highly leveraged to the price of gold: as prices rise, the economic value of its reserves increases substantially. If a joint venture is announced while gold continues to climb, Seabridge could reprice quickly. Why the Rally Still Has Room to Run This appears to be more than a short-lived spike. Eversole argues we're still early in a global upswing that's lifting multiple asset classes: - Stock markets around the world are at or near all-time highs
- Mid-cap and small-cap equities are breaking out
- Gold and silver are surging alongside them
When several sectors and regions rally together, it typically signals broad-based strength—rather than a temporary rush into a single asset class. The Risk—and the Opportunity Metals are volatile. Gold has moved sharply in recent months, and a pullback would not be surprising. Eversole, however, views such dips as buying opportunities rather than reasons to panic. The "mania phase"—when everyone is talking about gold, ads flood the internet, and retail pours in at the top—hasn't arrived yet. We're not there. That suggests there may still be time to position for what comes next.
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