In reaction to Northstar posting, just my take on  some of the major gold stocks and others:

Better quality majors: NEM-ABX-AEM (expensive), Nem and ABX have both large reserves, long mine lives and several big mines in the US, this is of importance as with US$ going south the next years, you better have some assets in US too, not only in emerging countries.

The advantage of ABX is that they have very long mine life and big low cost assets, but they have declining growth, so if you are looking for growth, you better look elsewhere. NEM has better growth profile, but is producing at far higher cash cost.

AUY: some good assets like the old Osisko mine, but weak Management and exposure to Brazil, very cheap gold stock however!

KGC: some assets are good, US exposure, but lower quality mines and Russian mines have limited mine life

IAG: high cash cost producer, have nice exploration assets, turnaround story?

NGD: once there new mine will be fully operational will be making lots of free cash flow

Smaller names: focus on Management! I will not list all small/Mid cap names I like, but as several people  know Management is the most important, so why focus on a name that looks cheaper on paper if you have better management that already did the job before! But assets, mine life, cash costs and geography matter too, maybe EGO management is not that bad, but there focus on Greece and Turkey is not the place I want to be.

To give one example, LMC, is made of ex-EDV people, they did the job before and will strengthen LMC assets very fast and grow this play into a next EDV. I prefer this than an over promoted name with 1 asset. But as always do your own diligence.

Some investors like KDX or MUX, it like these names too, but these names have very short mine lives and are hardly making any free cash flow.