In this article, we will be looking at the 5 best gold and silver stocks to buy amid rising inflation. To see our detailed analysis on the precious metals and mining sector, you can go directly to the 10 Best Gold and Silver Stocks To Buy Amid Rising Inflation.
5. Agnico Eagle Mines Limited (NYSE: AEM)
Number of Hedge Fund Holders: 28
Agnico Eagle Mines Limited (NYSE: AEM) is a company focusing on the exploration and production of mineral properties in Canada, Sweden, and Finland. It operates through two segments, namely the Northern Business and Southern Business segments. The company mainly produces and sells gold deposits, while also exploring silver, zinc, and copper deposits. It ranks 5th on our list of the best gold and silver stocks to buy amid rising inflation.
This April, Agnico Eagle Mines Limited (NYSE: AEM) declared its $0.35 per share quarterly dividend with a forward yield of 2.2%. For the first quarter of 2021, the company had EPS valued at $0.67 versus the estimate of $0.60. Revenue for the quarter was valued at $934.39 million, representing a 29.08% growth year over year.
By the end of the first quarter of 2021, 28 hedge funds out of the 866 tracked by Insider Monkey held stakes in Agnico Eagle Mines Limited (NYSE: AEM). The total value of their stakes was roughly $247 million. This is compared to 36 hedge funds out of 887 in the previous quarter holding stakes valued at about $388 million.
4. Wheaton Precious Metals Corp. (NYSE: WPM)
Number of Hedge Fund Holders: 28
Wheaton Precious Metals Corp. (NYSE: WPM) is a mining company that mainly works in selling precious metals in Canada and internationally. The company sells a range of metals including gold, silver, palladium, and cobalt. It had agreements for 24 operating mining assets and 7 development stage projects. The company ranks 4th on our list of the best gold and silver stocks to buy amid rising inflation.
By the end of the first quarter of 2021, 28 hedge funds out of the 866 tracked by Insider Monkey held stakes in Wheaton Precious Metals Corp. (NYSE: WPM). The total value of their stakes was roughly $439 million. This is compared to 34 hedge funds out of 887 in the previous quarter holding stakes valued at about $755 million.
3. Newmont Corporation (NYSE: NEM)
Number of Hedge Fund Holders: 43
Newmont Corporation (NYSE: NEM) is a mining company working mainly in the production and exploration of gold. The company also explores copper, silver, zinc, and lead. It has operations and assets in the US, Canada, Mexico, Peru, and a range of other countries and ranks 3rd on our lists of the best gold and silver stocks to buy amid rising inflation.
By the end of the first quarter of 2021, 43 hedge funds out of the 866 tracked by Insider Monkey held stakes in Newmont Corporation (NYSE: NEM). The total value of their stakes was roughly $994 million. This is compared to 50 hedge funds out of 887 in the previous quarter holding stakes valued at about $1.21 billion.
2. Barrick Gold Corporation (NYSE: GOLD)
Number of Hedge Fund Holders: 49
Barrick Gold Corporation (NYSE: GOLD) is a company working to explore, produce, and sell gold and copper properties, while also working in mine development. The company has ownership interests in producing gold mines located in Argentina, Canada, Mali, the US, and a range of other countries. The company ranks 2nd on our list of the best gold and silver stocks to buy amid rising inflation.
In the first quarter of 2021, Barrick Gold Corporation (NYSE: GOLD) had EPS valued at $0.29, beating the $0.27 estimates, alongside revenue valued at $2.96 billion, a 24.02% growth year over year. The company also has a gross profit margin of 42.66%.
By the end of the first quarter of 2021, 49 hedge funds out of the 866 tracked by Insider Monkey held stakes in Barrick Gold Corporation (NYSE: GOLD). The total value of their stakes was roughly $1.31 billion. This is compared to 53 hedge funds out of 887 in the previous quarter holding stakes valued at about $1.75 billion.
1. Freeport-McMoRan Inc. (NYSE: FCX)
Number of Hedge Fund Holders: 68
Freeport-McMoRan Inc. (NYSE: FCX) is a mining company operating in North and South America, and Indonesia. The company mainly explores copper, gold, silver, and molybdenum, as well as oil and gas. Assets owned by the company include the Grasberg minerals district in Indonesia, Safford and Sierrita in Arizona, and Tyrone in New Mexico, among others. The company ranks 1st on our list of the best gold and silver stocks to buy amid rising inflation.
For the first quarter of 2021, Freeport-McMoRan Inc. (NYSE: FCX) had an EPS valued at $0.51 in line with estimates for the quarter. The revenue for Q1 was valued at $4.85 billion, representing a 21.2% growth year over year. The company also has a gross profit margin of 38.68% and a forward PE ratio of 12.39. The stock has gained 47.55% in the past 6 months and 31.83% year to date.
By the end of the first quarter of 2021, 68 hedge funds out of the 866 tracked by Insider Monkey held stakes in Freeport-McMoRan Inc. (NYSE: FCX). The total value of their stakes was roughly $3.29 billion. This is compared to 61 hedge funds out of 887 in the previous quarter holding stakes valued at about $2.66 billion.
You can also take a look at 10 Best Junior Gold Mining Stocks To Buy and 10 Best Precious Metals Stocks To Buy.
