Best Greenblatt Magic Formula Stocks in Gold for 2026
High earnings yield plus high ROIC: Joel Greenblatt's Magic Formula for market-beating returns.
Gold miners trade as a leveraged play on the gold price plus an idiosyncratic cost-curve story. Composite scoring tends to reward the Health pillar (net debt to EBITDA, all-in sustaining cost coverage) since cycle troughs are when balance sheet matters most. Valuation pillar uses P/NAV alongside earnings multiples.
Data as of (updated daily)
Top 20 Gold stocks by ROIC
| # | Ticker | Name | ROIC |
|---|---|---|---|
| 1 | KCN.AU | Kingsgate Consolidated Ltd | 78.5% |
| 2 | OBM.AU | Ora Banda Mining Ltd | 76.8% |
| 3 | FML.AU | Focus Minerals Ltd | 74.8% |
| 4 | THX.LSE | Thor Explorations Ltd. | 50.2% |
| 5 | HAR.JSE | Harmony Gold Mining Co. Ltd. | 50.1% |
| 6 | HMY.US | Harmony Gold Mining Company Limited | 49.3% |
| 7 | ALTN.LSE | AltynGold plc | 46.2% |
| 8 | DRD.JSE | DRDGOLD Limited | 45.6% |
| 9 | PSAB.JK | J Resources Asia Pasifik Tbk | 45.5% |
| 10 | GFI.JSE | Gold Fields Ltd | 45.0% |
| 11 | DRD.US | DRDGOLD Limited ADR | 44.8% |
| 12 | GFI.US | Gold Fields Ltd ADR | 43.9% |
| 13 | G1FI34.SA | Gold Fields Limited | 43.7% |
| 14 | 1712.HK | Dragon Mining Ltd | 40.2% |
| 15 | WDO.TO | Wesdome Gold Mines Ltd. | 39.8% |
| 16 | GGP.AU | Greatland Resources Limited | 38.0% |
| 17 | GGP.LSE | Greatland Resources Limited | 38.0% |
| 18 | GMD.AU | Genesis Minerals Ltd | 34.9% |
| 19 | KNT.TO | K92 Mining Inc | 34.6% |
| 20 | MSA.TO | Mineros SA | 34.3% |
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Methodology: How we score stocks. Data refreshed nightly around 03:30 ET. This page lists the top 20 by ROIC within the Gold industry; use the screener for the full ranked list.