10 Best Commodity Stocks to Invest in According to Hedge Funds

5. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Investors: 63

Newmont Corporation (NYSE:NEM) is the world’s largest gold mining company, with additional operations in silver, copper, zinc, and lead. The company operates mines in North America, South America, Australia, and Africa.

Newmont Corporation (NYSE:NEM) is actively reshaping its portfolio and organizational structure to drive future growth and enhance shareholder value. Following its 2023 acquisition of Newcrest Mining, the company has initiated a strategic divestiture program to shed non-core assets, optimize its portfolio, and reduce its debt. Notable divestitures include the sale of the Eleonore gold mine in Quebec, the Musselwhite gold mine in Ontario, and the Cripple Creek and Victor gold mine in Colorado, which collectively generated over $3.9 billion in gross proceeds. These funds will be strategically reinvested to strengthen Newmont Corporation’s (NYSE:NEM) core operations and financial position. The company has authorized a $3 billion stock buyback program through October 2026 and has made significant progress in debt reduction.

On the operational front, Newmont Corporation (NYSE:NEM) is streamlining its corporate structure to improve efficiency and effectiveness. Bloomberg reported that the company has laid off at least 10 senior managers and plans to consolidate several business units into three. This restructuring is designed to simplify reporting and decision-making processes, reduce overhead costs, and enhance operational agility.