Broker names 2 ASX 200 gold stocks to buy

Are you looking to gain exposure to the booming gold price? If you are, then you may want to look at the two ASX 200 gold stocks listed below.

That's because Bell Potter has just put buy ratings on them and is tipping strong returns in 2026. Here's what it is recommending:

Genesis Minerals Ltd (ASX: GMD)

Bell Potter has resumed coverage on this gold miner with a very positive stance. According to the note, the broker has lifted its recommendation to buy (from hold) and increased its price target to $8.65 (from $4.45).

Based on its current share price of $7.48, this implies potential upside of approximately 16% for investors over the next 12 months.

It likes the ASX 200 gold stock due to its high-quality portfolio, which leaves it well-positioned in the current environment. It said:

We resume coverage of GMD with a $8.65 TP and a Buy recommendation (previously Hold $4.45/sh). We believe GMD to be a high-quality gold producer, expanding production underpinned by a large Mineral Resource portfolio (18.6Moz), into a rising gold price environment (Spot US$4,515/oz). Management's disciplined approach to counter-cyclical growth has seen shareholders rewarded (12m rolling shareholder return – 194%).

Northern Star Resources Ltd (ASX: NST)

Another ASX 200 gold stock that Bell Potter is bullish on is Northern Star.

In response to its sales downgrade last week, the broker reaffirmed its buy rating and $30.00 price target on its shares. Based on its current share price of $25.09, this implies potential upside of 20% for investors between now and this time next year.

The broker feels that the selloff has been an overreaction and created a buying opportunity for investors. It said:

NST closed 8.6% lower on the announcement equating to A$3.3bn in market capitalisation loss. Assuming that these issues are merely one-offs, with production normalizing over 2H, we would argue the response is potentially overdone. On our estimates, we model a -12% impact to EBITDA (A$460m) for FY26. Assuming an EV/EBITDA multiple of 7.8x prior to the announcement, the 8.6% stock price decline is in-line with our EBITDA adjustments however, making a case for the sell-off being warranted.

Looking through the noise, with gold at US$4,392/oz (A$6,555/oz) this implies an AISC margin of A$4,055/oz or 62%, prior to adjusting for the hedgebook (54% after accounting for hedged ounces). Absent a material correction in the gold price, NST will continue to generate above average returns in the current environment.

The post Broker names 2 ASX 200 gold stocks to buy appeared first on The Motley Fool Australia.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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