5 Best-performing Gold Stocks on the TSX in 2026

1. Montage Gold (TSX:MAU)

Year-to-date gain: 38.49 percent
Market cap: C$5.02 billion
Share price: C$3.78

Montage Gold is focused on bringing its flagship Koné gold project, located in Côte d'Ivoire, into production.

Based on a 2024 feasibility study, the property has an estimated 16 year mine life, with anticipated annual production of more than 300,000 ounces of gold over the first eight years.

On January 19, the company announced that the first gold pour at Koné via the oxide circuit is anticipated in late Q4 2026. Production via the hard-rock comminution circuit is on track for completion in the second quarter of 2027.

In late March, Montage Gold reported that a total of 114,699 meters were drilled at the Koné project in 2025 as the company focused on delineating higher-grade satellite resources for an updated mineral resource estimate.

An initial 90,000 meter drill program for 2026 is underway.

Montage Gold shares kicked off the year trading at C$9.87 before tracking the rising gold price and climbing to C$13.85 on January 28. The company reached its highest value year-to-date of C$17 on February 27.

2. Allied Gold (TSX:AAUC)

Year-to-date gain: 34.32 percent
Market cap: C$5.34 billion
Share price: C$43.01

Allied Gold is a gold producer in Africa with a portfolio of three producing mines and development projects located in Côte d'Ivoire, Mali and Ethiopia. The company is the subject of a C$5.5 billion acquisition by Zijin Gold International (HKEX:2259,OTCPL:ZJNGF), one of the world’s largest gold-mining companies.

Shares of Allied Gold were trading at C$31.66 at the start of 2026. By January 26, the stock had reached its year-to-date high of C$43.40, the day the acquisition by Zijin Gold was announced.

On February 18, the company shared its that its full-year 2025 production totaled 379,081 ounces of gold, including 117,004 ounces in the fourth quarter. The company's all-in sustaining costs for the last quarter of the year were estimated at US$1,980 per ounce sold. With a higher gold price, Allied Gold benefited from increased margins and cashflow. As of December 31, 2025, the company’s cash balance was approximately US$480 million.

3. Orezone Gold (TSX:ORE)

Year-to-date gain: 22.78 percent
Market cap: C$1.29 billion
Share price: C$12.21

Orezone Gold is a producer with gold operations in Canada and West Africa.

Its Bomboré mine was brought into production in late 2022, and the company recently acquired the Casa Berardi mine in Québec, which has produced over 3.2 million ounces of gold.

Orezone announced its intent to acquire Casa Berardi from Hecla Québec, a wholly owned subsidiary of Hecla Mining Company (NYSE:HL), on January 26. After starting the year at C$1.76, the company's share price value rose to a year-to-date high of C$2.91 on January 28. Orezone completed the acquisition on March 25.

“This acquisition marks a strategic and transformational expansion into a Tier 1 jurisdiction for Orezone," said Patrick Downey, president and CEO of Orezone, in a press release at the time. "The addition of Casa Berardi, a proven and cash-flow-generating mine, together with the Quebec exploration portfolio, positions the Company as a diversified multi-asset producer, with an established and self-funded growth profile."

The same day, Orezone also released its operational and financial results for the fourth quarter and full 2025 year, as well as its 2026 guidance. Gold production totaled 110,014 ounces at an all-in sustaining cost of US$1,776 per ounce sold. Its 2026 production guidance is set at 160,000 to 180,000 ounces of gold.

4. Liberty Gold (TSX:LGD)

Year-to-date gain: 21.74 percent
Market cap: C$584.15 million
Share price: C$1.12

Liberty Gold is a development-stage company advancing a pipeline of gold assets in the Great Basin of Southern Idaho. Its flagship asset is its wholly owned Black Pine oxide gold project. The large-scale, past-producing project is in the feasibility and permitting stage with a goal of launching an open-pit mining operation.

Liberty Gold started 2026 with a share price of C$0.83 and had advanced to C$1.17 per share by January 29.

On January 20, Liberty Gold announced that Black Pine had reached an important milestone after being accepted into the FAST-41 permitting process as a covered project. A few days later, the company shared drill results from its 2025 program to expand the resource ahead of the upcoming feasibility study. Liberty Gold highlighted assays such as 0.86 grams per metric ton (g/t) gold over 123.4 meters, including 2.45 g/t gold over 24.4 meters.

Shares of the company rose to C$1.46 on February 11 following the release of an updated resource estimate for Black Pine. The new estimate includes an indicated resource of 502.7 million metric tons at an average grade of 0.3 g/t gold for a total of 4,882,000 ounces of gold, and an inferred resource of 157.1 million metric tons at an average grade of 0.21 g/t gold for a total of 1,050,000 ounces of the yellow metal.

The company's share price reached its highest year-to-date value of C$1.65 on February 26.

On March 20, Liberty Gold reported that the Idaho government had aligned its state permitting timelines with the federal FAST-41 permitting framework. A few days later, the company announced the sale of its Goldstrike project in Southern Utah to Heliostar Metals (TSXV:HSTR,OTCQX:HSTXF) for US$72.5 million.

5. Canagold Resources (TSX:CCM)

Year-to-date gain: 15.22 percent
Market cap: C$113.39 million
Share price: C$0.53

Canagold Resources is a development-stage company focused on advancing its wholly owned, past-producing New Polaris gold-antimony project located in Northwestern BC.

The company's shares started the year trading at C$0.46 before climbing to a year-to-date high of C$0.74 on January 19.

On February 13, Canagold announced the closing of a C$9.2 million financing.

A few weeks later, the company shared plans for a comprehensive 2026 work program at New Polaris to expand the high-grade gold-antimony mineralization within and adjacent to the mine plan outlined in a July 2025 feasibility study. The work will include 7,000 meters of diamond drilling over the months of June and July.

In mid-March, New Polaris was added to the Canadian government's advanced gold-antimony projects map.