ASX Gold stocks in momentum

Gold's outlook for 2026 is positive because many investors view it as a safe haven asset during periods of global uncertainty and rising geopolitical tensions.

Central bank buying is another major driver of the bullish outlook because purchases have surged in recent years reflecting efforts by countries to diversify reserves away from the US dollar.

Currency debasement and rising global debt trends also increase demand for real assets such as gold because it cannot be printed or inflated away like fiat currencies and the following three ASX gold stocks are well placed to benefit from strong long-term demand for gold.

Evolution Mining Limited (ASX: EVN)

is a solid pick among ASX gold stocks right now as it is basically one of Australia’s largest gold producers and at the time of writing has a market capitalisation of about $28.02 billion.

The company in the first half of FY26 reported record underlying profit after tax of about $785 million and statutory profit of $767 million which was helped by high gold and copper prices.

Underlying EBITDA reached about $1.59 billion and the EBITDA margin was an impressive 57%. Operating mine cash flow also rose to $1.73 billion which shows the company’s exceptional level of profitability.

Evolution Mining has set a guidance for FY26 gold production of about 710,000 to 780,000 ounces and copper production of 70,000 to 80,000 tonnes.

The balance sheet is now solid because gearing has dropped to about 6%. Cash came in at around $967 million which gives the company financial flexibility for future growth investments.

Newmont Corporation (ASX: NEM) 

is one of the world’s largest gold producers that has a diversified portfolio of mining assets across multiple countries.

The company in FY25 reported net income of about US$7.2 billion while adjusted net income came in at US$7.6 billion. Adjusted EBITDA reached about US$13.5 billion, which shows strong profitability because gold prices remained high during the year.

The company also generated US$10.3 billion in operating cash flow and a record US$7.3 billion in free cash flow which shows the strong cash generation ability of its global mining portfolio.
The company during the year produced about 5.9 million attributable gold ounces that reinforces its position as the leading global gold mining company.

The balance sheet also improved with US$7.6 billion in cash and a net cash position of about US$2.1 billion. The company returned US$3.4 billion to shareholders through dividends and share buybacks.

Westgold Resources Limited (ASX: WGX) 

is an Australian gold producer that has several mining hubs across Western Australia and current market capitalisation is $5.9 Billion.

The company in the first half of FY26 reported revenue of about $1.24 billion and an underlying net profit after tax of roughly $314 million. This result reflects higher gold production and stronger margins.

Underlying EBITDA rose to about $612 million while underlying profit before tax reached approximately $447 million which showed strong operational profitability.

Operational results were solid with group gold production of about 195000 ounces while net operating cash flow was roughly $532 million which was supported by favourable gold prices.

The company also strengthened its balance sheet with treasury above $600 million at the end of 2025 which increased available liquidity to over $1.2 billion while management maintained FY26 guidance of 345000 to 385000 ounces of gold production.

(Source: Company Reports)