Gold Stocks To Watch As Middle East Tensions Raise Commodity Supply Fears

Geopolitical shocks can quickly reshape the risk and opportunity profile of global commodity producers, and the latest attacks on Saudi energy infrastructure are a clear reminder of that. With airstrikes in Yemen, threats to key oil routes in the Red Sea, and renewed questions over supply security, investors are reassessing which stocks are most exposed to these tensions. This article looks at three stocks from our Global Commodity Producers screener that are closely tied to this news event. Each offers a different way to think about risk, pricing power, and portfolio resilience when supply chains come under pressure.

Overview: Eldorado Gold is a Vancouver based miner that produces gold as its core product, with additional silver, lead and zinc, from a portfolio of operating and development assets in Turkey, Canada and Greece.

Operations: Eldorado Gold generates about US$2.0b from mining and exploration and development activities, with revenue split between Turkiye (US$908.3m), Canada (US$755.8m) and Greece (US$331.9m).

Market Cap: CA$11.7b

Investors watching geopolitical shocks push up the appeal of safe haven assets may find Eldorado Gold worth a closer look, as it combines sizeable gold production with growth projects such as the Skouries copper gold mine and McIlvenna Bay ramp up. These projects are expected to reshape its mix over the next few years. The company is benefiting from strong recent earnings and revenue growth and trades below one independent fair value estimate. It still faces real pressure from high all in sustaining costs, complex project execution in Greece and reliance on external funding. That mix of gold leverage, copper diversification and execution risk makes Eldorado a high impact story for anyone using a broad commodities screen.

Eldorado Gold’s mix of strong recent earnings, copper exposure and high project risk is only half the story. The 4 key rewards and 3 important warning signs (1 is major!) could change how you see its next chapter.

Overview: OceanaGold is a Vancouver based gold and copper producer that explores, develops, and operates mines in the United States, the Philippines, and New Zealand, giving investors exposure to precious metals and copper with global supply relevance.

Operations: OceanaGold generates revenue across four core mining operations, with US$725.8m from Haile, US$687.0m from Macraes, US$517.9m from Didipio, and US$317.1m from Waihi.

Market Cap: CA$7.5b

OceanaGold stands out in this commodity producers list because it couples multi asset gold and copper production in relatively stable jurisdictions with fundamentals that include a P/E below peers, a 33.7% net margin, and a new share buyback covering up to 9.89% of the register. At the same time, investors need to weigh meaningful risks such as higher diesel exposure, harder ore at Haile, weather disruption at Didipio, and a balance sheet that leans entirely on external borrowings, even as the company commits to dividends and a large Didipio expansion. How those strengths and pressure points interact with a higher geopolitical risk premium on oil and safe haven demand is what really defines the OceanaGold story for this screener.

OceanaGold’s mix of a below peer P/E, a wide 33.7% net margin and a near 10% buyback hints at a story investors may be underpricing, and the 4 key rewards and 1 important warning sign could reveal what that combination is really signaling.

Overview: Aris Mining is a Vancouver based gold producer focused on acquiring, developing, and operating gold mines in Colombia, Guyana, and Canada, with additional exposure to silver and copper through exploration.

Operations: Aris Mining generates about US$1.1b in annual revenue, primarily from its Segovia complex (US$1.0b) and Marmato mine (US$111.0m) in Colombia.

Market Cap: CA$4.3b

Aris Mining stands out in this commodity producers list because it pairs fast growing Colombian production at Segovia and Marmato with large expansion projects that could roughly double group output while gold remains closely tied to geopolitical tension. Earnings are forecast to grow strongly, margins have improved into the mid teens, and analysts see meaningful upside relative to their collective price target, even as the stock trades at a higher P/E than many peers. At the same time, investors need to factor in heavy reliance on Colombian assets, ambitious project timelines, and a capital structure built on higher risk borrowing alongside recent shareholder dilution. How that mix of growth, valuation gap, and funding risk fits your portfolio is where the Aris story gets interesting.

Aris Mining’s push to roughly double output while relying on higher risk borrowing and a premium P/E raises a big question about how the growth story really stacks up, and the analyst forecasts for Aris Mining could highlight one twist investors often overlook

The three stocks in this article are just a starting point, and the full Global Commodity Producers (Broad Commodities) screener surfaced 23 more companies with equally compelling commodity stories, balance sheets, and risk reward profiles that many investors have not looked at yet. Use Simply Wall St to identify and analyze the specific catalysts and narratives that matter to you so you can focus on the highest conviction opportunities in this theme.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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