Capricorn Metals Limited (ASX: CMM) and Ramelius Resources Limited (ASX: RMS) are among the best ASX gold stocks in focus on 7 Apr 2026. Both Companies released preliminary March 2026 quarter production updates, drawing strong investor interest and pushing their ASX gold share prices higher in early trade.
Figure 1: ASX signage representing the Australian Securities Exchange [Courtesy: Reuters]
The S&P/ASX 200 Index (ASX: XJO) is up 1.6 per cent in early morning trade on Tuesday. Capricorn Metals is leading the pair, up 4.9 per cent at A$11.48 per share, while Ramelius Resources is tracking the broader index gain, up 1.6 per cent at A$3.74 per share.
1. Ramelius Resources Holds Guidance Despite a Challenging Quarter
Ramelius Resources delivered gold production of 38,093 ounces for the March 2026 quarter. This represents a significant decline from the 80,455 ounces produced in the prior corresponding quarter.
Figure 2: Ramelius Resources Limited logo [Courtesy: Ramelius Resources]
Cyclone Narelle Disrupts Output but Leaves High-Grade Stockpiles Behind
Ramelius Resources attributed part of the quarterly production decline to heavy rainfall associated with Cyclone Narelle. On a constructive note, the weather event has left the Company with significantly high-grade mine stockpiles at the end of the quarter.
Management confirmed that operations have not been impacted by diesel supply chain disruptions to date. Despite the weaker March quarter, Ramelius Resources stated it remains on track to achieve the midpoint of its FY26 production guidance of 185,000 to 205,000 ounces of gold, forecasting a strong June quarter performance.
Capital Returned to Shareholders During the Period
Ramelius Resources Managing Director Mark Zeptner addressed the quarterly result directly, stating:
“Ramelius remains committed to maintaining and growing shareholder returns. With $110 million in share buybacks during the quarter, we are executing on another element of our plan to deliver value to shareholders.”
As at 31 Mar 2026, Ramelius Resources held a cash and gold balance of A$606.5 million.
2. Capricorn Metals Tracks Toward the Upper End of FY26 Guidance
Capricorn Metals produced 30,358 ounces of gold from its Karlawinda Gold Project in the March 2026 quarter. This result is broadly in line with the 30,599 ounces produced in the prior corresponding quarter, reflecting consistent operational delivery.
Figure 3: Capricorn Metals Limited logo [Courtesy: Capricorn Metals]
Year-to-Date Production Positions the Company for a Strong Finish
Capricorn Metals has now produced 93,152 ounces of gold across the first three quarters of FY26. This positions the Company to achieve the upper end of its full year production guidance range of 115,000 to 125,000 ounces at an AISC of A$1,530 to A$1,630 per ounce.
Cash Balance Builds as Expansion Spend Continues
Capricorn Metals reported a cash and gold balance of A$507.6 million at the end of the March 2026 quarter. The Company confirmed it is not currently impacted by diesel fuel supply issues, though it noted the situation remains a material risk across the broader Australian mining industry.
ASX Gold Share Prices Reflect Broader Sector Strength
Both Capricorn Metals and Ramelius Resources are among the gold stocks to buy that investors have been watching closely as bullion prices remain elevated. The ASX gold share prices of both Companies reflect the sector’s appeal as a hedge against global economic uncertainty.
The dual quarterly updates arriving on the same session have amplified market attention on the best ASX gold stocks, with both CMM and RMS drawing fresh buying interest from investors seeking exposure to Australian gold production.
RMS ASX Share Price
Ramelius Resources Limited (ASX: RMS) is currently trading at A$3.760 per share, with a market capitalisation of A$7.03 billion. The 52-week range stands at A$2.250 to A$5.160 per share.
Figure 4: Ramelius Resources Limited (ASX: RMS) one-year share price performance chart [Courtesy: ASX]
CMM ASX Share Price
Capricorn Metals Limited (ASX: CMM) is currently trading at A$11.070 per share, with a market capitalisation of A$4.99 billion. The 52-week range stands at A$7.730 to A$16.480 per share.
Figure 5: Capricorn Metals Limited (ASX: CMM) share price performance over the past year [Courtesy: ASX]
Industry Outlook
The Australian gold mining sector continues to benefit from elevated bullion prices, with both producers and developers attracting renewed capital inflows. Western Australia remains the country’s most productive gold jurisdiction, anchoring a growing pipeline of expansion projects and new developments.
Demand for exposure to the best ASX gold stocks continues to build among domestic and international investors seeking inflation protection and portfolio diversification. The sector’s strong cash generation profile at current gold prices is reinforcing the investment case for established Australian gold producers.
Future Direction and Impact on ASX Gold Investors
For investors evaluating gold stocks to buy, both Capricorn Metals and Ramelius Resources present distinct but complementary profiles. Capricorn Metals is advancing two growth assets simultaneously, with the Karlawinda Expansion Project approaching commissioning and the Mt Gibson Gold Project progressing through environmental approvals.
Ramelius Resources, despite a weather-impacted March quarter, retains a strong cash and gold balance of A$606.5 million and has demonstrated shareholder commitment through A$110 million in share buybacks during the period.
The ASX gold share prices of both Companies will be closely watched as full quarterly reports, including cost details, are expected to follow later in April 2026. Investors tracking the best ASX gold stocks will find both updates worth monitoring as the June quarter approaches.
ALSO READ:Capricorn Metals March 2026 Production Update
Frequently Asked Questions
Q1. What are the best ASX gold stocks to watch right now?
Ans. Capricorn Metals (ASX: CMM) and Ramelius Resources (ASX: RMS) are two of the best ASX gold stocks in focus, both releasing strong March quarter production updates on 7 Apr 2026.
Q2. Why is the Capricorn Metals share price rising today?
Ans. Capricorn Metals is up 4.9 per cent after reporting 30,358 ounces of gold production in Q3 FY26, with year-to-date output tracking toward the upper end of full year guidance.
Q3. Why did Ramelius Resources production fall in the March quarter?
Ans. Heavy rainfall from Cyclone Narelle contributed to the decline. However, the Company retained significant high-grade stockpiles and remains on track for the midpoint of its FY26 guidance.
Q4. What cash balances do both Companies hold?
Ans. Ramelius Resources held A$606.5 million in cash and gold as at 31 Mar 2026. Capricorn Metals held A$507.6 million at the same date.
Q5. Are these gold stocks to buy currently affected by diesel supply issues?
Ans. Neither Company has reported current operational impact from diesel supply chain disruptions, though both have acknowledged it as a material risk for the Australian mining industry.
Disclaimer
This article is intended for informational purposes only and does not constitute financial or investment advice. All content is based on the ASX announcement released by Capricorn Metals Limited on 7 Apr 2026 and supplementary reporting published on 7 Apr 2026. Share price and market capitalisation data reflect figures provided at the time of publication. Investing in securities involves risk. Readers should conduct their own research and seek independent financial advice before making any investment decisions. Colitco does not hold any position in the companies or organisations mentioned.
Sources
https://www.asx.com.au/markets/company/CMM
https://www.asx.com.au/markets/company/RMS
https://www.fool.com.au/2026/04/07/2-asx-200-gold-stocks-jumping-higher-on-major-updates-today
Last modified: April 8, 2026
