10 Cheap Gold Stocks to Invest In Right Now

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1. Newmont Corporation (NYSE:NEM)

Forward P/E: 13.44

Number of Hedge Fund Holders: 69

Newmont Corporation (NYSE:NEM) is a global producer in Canada, Mexico, the US, and several other countries. Its operations include Brucejack, Red Chris, Penasquito, Merian, Cerro Negro, Yanacocha, Boddington, Tanami, Cadia, Lihir, Ahafo, and NGM.

The company attained $3.4 billion in net profits in fiscal year 2024, primarily due to strong production levels and rising gold prices. It reached a total attributable production of 6.8 million gold ounces and 1.9 million gold-equivalent ounces (GEOs) from base metals. Newmont Corporation’s (NYSE:NEM) adjusted EBITDA also rose to $8.7 billion. It reduced $1.4 billion from its debt and had $3.6 billion in cash at the end of the year, reflecting significant improvement in its financial health.

The company is continually refining its holdings and has plans to sell six non-core assets in 2025 with a maximum anticipated profit of $4.3 billion. This is expected to include $2.5 billion in cash by the middle of the year. Newmont Corporation (NYSE:NEM) is also rewarding its shareholders, repurchasing $1.2 billion worth of shares and paying out $1.1 billion in dividends.

Overall, NEM ranks first among the 10 cheap gold stocks to invest in right now. While we acknowledge the potential of gold stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NEM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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