12 Best Gold Mining Stocks to Buy Now

Published on October 10, 2022 at 6:55 pm by Hamna Asim in Hedge Funds, News

In this article, we discuss 12 best gold mining stocks to buy now. If you want to see more stocks in this selection, click 5 Best Gold Mining Stocks to Buy Now.

As per a Bloomberg report dated October 9, investors in the West are dumping their gold assets, while Asians see the tumbling prices as a buying opportunity and are loading up on cheap gold jewelry and bullion. Aggressive interest rate hikes make gold less attractive as an investment vehicle, which is why a large amount of gold is making its way from the West to meet the rising demand in Shanghai and Istanbul, among other Asian countries.

Given logistical constraints, precious metals are not reaching the East fast enough. Resultantly, gold and silver are trading at extraordinarily high premiums in some Asian markets, compared to the global benchmark rates. As Asians snap up large quantities of gold when the rate weakens in the West, the global prices remain somewhat stable. Upon a rally in precious metals, gold usually makes its way back to Western countries as Asians cash out.

Gold plummeted to under $1,700 per ounce last week, as per reports on October 10. Jittery traders are seeking refuge in the US dollar amid fears that intense monetary policies by global central banks will push major world economies into a recession. As investors seek out interest-paying investments like high-yield bonds, there is a buying opportunity in gold in order to benefit from a future rally. Some of the best gold mining stocks include Newmont Corporation (NYSE:NEM), Kinross Gold Corporation (NYSE:KGC), and B2Gold Corp. (NYSE:BTG).

Our Methodology

We selected the following gold mining stocks based on growth fundamentals, dividend profiles, positive analyst coverage, and strong hedge fund sentiment as of June 2022. We have arranged the list of the best gold mining stocks according to the number of hedge fund holders in each firm.

Photo by Ricardo Gomez Angel on Unsplash

Best Gold Mining Stocks to Buy Now

12. AngloGold Ashanti Limited (NYSE:AU)

Number of Hedge Fund Holders: 12

AngloGold Ashanti Limited (NYSE:AU) was incorporated in 1944 and is headquartered in Johannesburg, South Africa. It operates as a gold mining company in Africa, the Americas, and Australia. On August 24, AngloGold Ashanti Limited (NYSE:AU) declared a $0.2935 per share quarterly dividend, a 97.7% increase from its prior dividend of $0.1484. The dividend was distributed on September 19. AngloGold Ashanti Limited (NYSE:AU) delivers a dividend yield of 3.42% as of October 10.

On September 19, Coeur Mining, Inc. (NYSE:CDE) announced that it agreed to sell more than 35,000 acres in southern Nevada to a subsidiary of AngloGold Ashanti Limited (NYSE:AU) for about $200 million based on the amount of gold present there.

Deutsche Bank analyst Abhi Agarwal on October 5 maintained a Buy recommendation on AngloGold Ashanti Limited (NYSE:AU) but trimmed the price target on the shares to ZAR 285 from ZAR 300. The analyst reduced target prices and earnings estimates in metals and mining to reflect soft demand and macro risks.

According to Insider Monkey’s data, 12 hedge funds held stakes worth $232.5 million in AngloGold Ashanti Limited (NYSE:AU) at the end of June 2022, compared to 15 funds in the prior quarter worth $352.4 million. John Paulson’s Paulson & Co is the leading position holder in the company, with approximately 6 million shares worth $88.3 million.

Like Newmont Corporation (NYSE:NEM), Kinross Gold Corporation (NYSE:KGC), and B2Gold Corp. (NYSE:BTG), AngloGold Ashanti Limited (NYSE:AU) is one of the best gold mining firms to watch as buying opportunities arise in the market.

11. SSR Mining Inc. (NASDAQ:SSRM)

Number of Hedge Fund Holders: 15

SSR Mining Inc. (NASDAQ:SSRM) is a Colorado-based company engaged in the acquisition, exploration, and operation of precious metal mining properties in Turkey and the Americas. The company explores for gold, silver, copper, lead, and zinc deposits. On September 22, SSR Mining Inc. (NASDAQ:SSRM) announced that it had received the necessary regulatory approvals from the Turkish government and will immediately restart all operations at the Copler gold mine.

On August 3, investment advisory Canaccord maintained a Buy rating on SSR Mining Inc. (NASDAQ:SSRM) but lowered the price target on the shares to C$26 from C$31. Analyst Dalton Baretto issued the ratings update.

According to Insider Monkey’s data, 15 hedge funds were bullish on SSR Mining Inc. (NASDAQ:SSRM) at the end of June 2022, with collective stakes worth over $206 million, compared to 21 funds in the last quarter holding stakes valued at $262.3 million.

Palm Valley Capital mentioned SSR Mining Inc. (NASDAQ:SSRM) in its Q1 2021 investor letter. Here is what it said:

“As precious metals and precious metal miners underperformed during the quarter, several of the mining stocks on our possible buy list became more attractively priced. After declining 33% from the beginning of the year, we purchased SSR Mining, an intermediate gold company with four producing mines located in the United States, Turkey, Canada, and Argentina. In 2021, the company expects to produce 720,000 to 800,000 gold-equivalent ounces with all-in sustaining costs of $1,050 to $1,110 per ounce. At current gold prices, we expect SSR Mining to generate meaningful free cash flow this year, adding to its cash balance. Currently, the company’s balance sheet is very strong and liquid with $470 million in net cash, $1.2 billion in net working capital, and $3.9 billion in tangible book value. We were happy to purchase SSR Mining at a discount to our valuation of its net assets. In addition to being cheap, we think it’s a nice inflation hedge.”

10. B2Gold Corp. (NYSE:BTG)

Number of Hedge Fund Holders: 15

B2Gold Corp. (NYSE:BTG) was incorporated in 2006 and is headquartered in Vancouver, Canada. It operates as a gold producer with mines in Mali, the Philippines, and Namibia. Despite missing market estimates on earnings and revenue in the second quarter of 2022, B2Gold Corp. (NYSE:BTG) remains well positioned for ongoing strong operational and financial performance in the full-year 2022 and is on track to achieve its total consolidated gold production guidance of between 990,000 to 1,050,000 ounces.

On September 12, TD Securities analyst Steven Green upgraded B2Gold Corp. (NYSE:BTG) to Action List Buy from Buy with an unchanged price target of C$9. The shares are presently trading near historical low multiples, and the company has a “strong near-term outlook,” the analyst told investors in a research note. B2Gold Corp. (NYSE:BTG) is well positioned to meet its 2022 production guidance, said the analyst, who called the company his best pick among mid-tier producers.

Among the hedge funds tracked by Insider Monkey, 15 funds were long B2Gold Corp. (NYSE:BTG) at the end of the second quarter of 2022, compared to 17 funds in the last quarter. Jim Simons’ Renaissance Technologies is the leading position holder in the company, with 36.3 million shares worth $123 million.

9. Hecla Mining Company (NYSE:HL)

Number of Hedge Fund Holders: 16

Hecla Mining Company (NYSE:HL) acquires, develops, and produces precious and base metal properties in the United States and internationally. The company mines for silver, gold, lead, and zinc concentrates. Hecla Mining Company (NYSE:HL) reported silver and gold production of 3.6 million and 45,719 ounces respectively, a 10% increase over the first quarter of 2022. It is one of the best gold mining stocks to buy now.

On July 26, H.C. Wainwright analyst Heiko Ihle maintained a Buy recommendation on Hecla Mining Company (NYSE:HL) but trimmed the price target on the stock to $6.50 from $8.25. The target drop reflects an updated precious metal price deck.

According to Insider Monkey’s second quarter database, 16 hedge funds were long Hecla Mining Company (NYSE:HL), compared to 20 funds in the earlier quarter. Eric Sprott’s Sprott Asset Management is a prominent position holder in the company, with 2.4 million shares worth about $9.5 million.

8. Sibanye Stillwater Limited (NYSE:SBSW)

Number of Hedge Fund Holders: 16

Next on our list of the best gold mining stocks is Sibanye Stillwater Limited (NYSE:SBSW), a South African precious metals mining company that operates in South Africa, the United States, Zimbabwe, Canada, and Argentina. The company produces gold, palladium, platinum, rhodium, iridium, ruthenium, nickel, copper, and chrome. On October 5, Sibanye Stillwater Limited (NYSE:SBSW) announced that it is interested in Zambia’s Mopani Copper Mines Plc, which has the capacity to produce 225,000 metric tons per year of copper, about triple its estimated 2022 production. However, it requires at least $300 million to finance a complicated underground expansion.

On October 5, Deutsche Bank analyst Abhi Agarwal reiterated a Buy rating on Sibanye Stillwater Limited (NYSE:SBSW) but lowered the price target on the shares to $12.50 from $13. The analyst noted that a “lot of bad news has already been thrown at markets” with metals equities “already pricing in a mild recession.”

According to Insider Monkey’s data, Sibanye Stillwater Limited (NYSE:SBSW) was part of 16 hedge fund portfolios at the end of June 2022, compared to 21 in the prior quarter. Ryan Schedler and Bradley Shisler’s Condire Investors is the largest stakeholder of the company, with nearly 5.5 million shares worth $54.7 million.

Here is what Desert Lion Capital has to say about Sibanye Stillwater Limited (NYSE:SBSW) in its Q2 2022 investor letter:

“Sibanye Stillwater is one of the largest PGM (platinum group metal) producers in the world with major operations in South Africa and the U.S. On top of its additional gold mining operations in SA, the business has significant upside optionality in its growing lithium and nickel operations which are not yet contributing to earnings and remain unrecognized by the market in SSW’s price.

PGM and gold prices are lower than a year ago and Sibanye Stillwater’s earnings followed suit. Gold operations made a loss during the period due to a wage negotiation labor strike (see chart on next page). Notwithstanding all these headwinds, the company reported H1 2022 earnings per share of R4.23 which was in line with the six months ended December 2021 EPS…” (Click here to see the full text)

7. Osisko Gold Royalties Ltd (NYSE:OR)

Number of Hedge Fund Holders: 17

Osisko Gold Royalties Ltd (NYSE:OR) is a Canadian firm that acquires and manages precious metals and royalties, streams, and other interests in Canada and internationally. It primarily explores for precious metals, including gold, silver, and diamonds. On August 9, Osisko Gold Royalties Ltd (NYSE:OR) declared a C$0.055 per share quarterly dividend, in line with previous. The dividend is payable on October 14, to shareholders of record on September 30. The forward yield was 1.64%.

On August 11, TD Securities analyst Greg Barnes raised the price target on Osisko Gold Royalties Ltd (NYSE:OR) to C$20 from C$18.50 and kept a Buy rating on the shares.

Among the hedge funds tracked by Insider Monkey, 17 funds were bullish on Osisko Gold Royalties Ltd (NYSE:OR) at the end of Q2 2022, with combined stakes worth $190.3 million, compared to 17 funds in the prior quarter worth $226.5 million. Israel Englander’s Millennium Management is the biggest stakeholder of the company, with 8 million shares valued at approximately $81 million.

Market experts remain bullish on gold as a long-term investment. This is why it is important to monitor firms like Newmont Corporation (NYSE:NEM), Kinross Gold Corporation (NYSE:KGC), B2Gold Corp. (NYSE:BTG), and Osisko Gold Royalties Ltd (NYSE:OR), which are considered to be some of the best gold mining stocks.

Here is what Palm Valley Capital Management has to say about Osisko Gold Royalties Ltd (NYSE:OR) in its Q2 2021 investor letter:

“The top contributors to the Fund’s second quarter returns (includes) Osisko Gold Royalties (ticker: OR). Osisko’s partner mines are performing well, and the stock has benefited from several positive developments since the end of last year, including: the spinoff of the Cariboo development project into an independent publicly-traded company, Agnico Eagle/Yamana’s decision to proceed with underground development of Canadian Malartic (Osisko’s largest royalty), and a significant rebound in diamond prices, which brings Osisko’s Renard stream nearer to long-term viability.”

6. Kinross Gold Corporation (NYSE:KGC)

Number of Hedge Fund Holders: 21

Kinross Gold Corporation (NYSE:KGC) is headquartered in Toronto, Canada, and the company is engaged in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. On September 19, Kinross Gold Corporation (NYSE:KGC) announced a new, improved share buyback program that allocates a more significant amount of cash available for enhancing shareholder returns. Under this program, Kinross Gold Corporation (NYSE:KGC) will repurchase $300 million in common stock during the rest of the year and allocate 75% of its excess cash to buybacks in 2023-2024, conditional upon net leverage.

National Bank analyst Mike Parkin on September 21 raised the price target on Kinross Gold Corporation (NYSE:KGC) to C$9 from C$8.25 and kept an Outperform rating on the shares.

According to Insider Monkey’s database, 21 hedge funds were bullish on Kinross Gold Corporation (NYSE:KGC) at the end of June 2022, compared to 22 funds in the preceding quarter. Ken Griffin’s Citadel Investment Group is one of the leading stakeholders of the company, with 9.3 million shares worth $33.5 million. According to recent hedge fund data, Kinross Gold Corporation (NYSE:KGC) is one of the best gold mining stocks to monitor.

Click to continue reading and see 5 Best Gold Mining Stocks to Buy Now.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on October 30, 2024 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 70%.

For a ridiculously low price of just $29, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $29.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a year later!

A New Dawn is Coming to U.S. Stocks

Published on September 27, 2024 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up