10 Best Gold Mining Stocks to Buy Now

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1. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Investors: 55

Newmont Corporation (NYSE:NEM) posted strong Q1 results last month, with revenue in the period increasing 50% on a YoY basis. Newmont Corporation’s (NYSE:NEM) results were helped by higher metal prices and increased gold-equivalent ounces sold. Newmont Corporation (NYSE:NEM) bulls believe Newmont Corporation’s (NYSE:NEM) planned cost cuts and working capital discipline would give a boost to FCF, assuming gold price in the range of $2,100-$2,200. The stock’s forward P/E ratio stands just over 12, which shows the stock is undervalued when compared to industry peers.

Wall Street analysts have a $63.37 price target on Newmont Corporation (NYSE:NEM), which shows it has a 50% upside potential from the current levels.

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