10 Cheap Hot Stocks to Buy Right Now

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1. Newmont Corporation (NYSE:NEM)

Forward P/E Ratio as of April 16: 9.05

Gain Over the Past 1 Month: 17.74%

Number of Hedge Fund Holders: 69

Newmont Corporation (NYSE:NEM) produces and explores gold properties. It also explores for copper, silver, zinc, lead, and other metals. It has operations and/or assets in the US, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana, and internationally.

In 2024, Newmont’s gold production from its go-forward core portfolio, which is around 85% of total output, contributed to the company exceeding its overall production guidance by delivering 6.8 million ounces of gold. This gold production helped generate $2.9 billion in free cash flow for 2024 and a record $1.6 billion in free cash flow in Q4.

Newmont has a clear strategy to optimize its gold production and profitability from its core Tier 1 assets. It anticipates producing ~6 million ounces of gold on average each year over the next decade from this portfolio. Newmont Corporation (NYSE:NEM) anticipates ~1.4 million ounces of gold in 2025 from its non-managed joint ventures, with expectations of a 20% increase from these ventures by 2027 compared to 2024.

While we acknowledge the growth potential of Newmont Corporation (NYSE:NEM), our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. 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 this 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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