11 Best Gold Mining Companies to Invest in Right Now

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1. Newmont Corporation (NYSE:NEM)    

Number of Hedge Fund Holders: 63

Newmont Corporation (NYSE:NEM), headquartered in Denver, Colorado, is a key player in gold mining. The company’s broad portfolio comprises world-class gold and copper assets in North and South America, Australia, and Africa.

Newmont Corporation (NYSE:NEM) produced 2.1 million gold equivalent ounces and recorded $760 million in free-cash-flow for Q3 2024. In another vein, after acquiring Newcrest Mining in 2023, the company began a series of strategic divestitures to decrease debt, improve its portfolio, and sell off non-core assets. To that end, the company recently sold its Porcupine Complex for $425 million, Musselwhite for $850 million, and Éléonore for $795 million. In addition, Newmont redeemed $927.8 million in 5.3% notes due in 2026 early, all part of its $1.4 billion debt-reduction plan.

While we acknowledge the potential of NEM, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. 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 Complete List of 59 AI Companies Under $2 Billion in Market Cap.

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