In this article, we will take a look at the 5 Best Gold Dividend Stocks To Buy Now. To see more such companies, go directly to 12 Best Gold Dividend Stocks To Buy Now.
5. Franco Nevada Corp (NYSE:FNV)
Number of Hedge Fund Investors: 27
Toronto, Canada-based gold royalties and streaming company Franco Nevada Corp (NYSE:FNV) ranks 5th in our list of the best gold dividend stocks to buy according to hedge funds. During the third quarter, the Franco Nevada Corp’s (NYSE:FNV) adjusted EPS came in at $0.91, beating estimates by $0.02. Revenue jumped 1.7% year over year to $309.5 million, missing estimates by $13.84 million.
Last month, Franco Nevada Corp (NYSE:FNV) declared a quarterly dividend of $0.34/share quarterly dividend, in line with the previous. Dividend yield came in at 1.13%.
4. Kinross Gold Corp (NYSE:KGC)
Number of Hedge Fund Investors: 29
Gold and silver mining company Kinross Gold Corporation (NYSE:KGC) has a dividend yield of over 2%. Last month, Kinross Gold Corporation (NYSE:KGC) posted strong Q3 results. Adjusted EPS in the period came in at $0.12, beating estimates by $0.02. Revenue in the quarter jumped about 28.4% year over year to $1.1 billion, surpassing estimates by $30 million.
Insider Monkey’s database of 910 hedge funds shows that 29 funds had stakes in Kinross Gold Corporation (NYSE:KGC). The biggest stakeholder of Kinross Gold Corporation (NYSE:KGC) during this period was Dmitry Balyasny’s Balyasny Asset Management, which owns a $30.2 million stake in the Kinross Gold Corporation (NYSE:KGC).
3. Barrick Gold Corp (NYSE:GOLD)
Number of Hedge Fund Investors: 36
Ranking 3rd in our list of the best gold dividend stocks is copper and gold mining company Barrick Gold Corp (NYSE:GOLD). In November, the Barrick Gold Corp (NYSE:GOLD) posted Q3 results. Adjusted EPS in the period came in at $0.24, beating estimates by $0.04. Revenue in the quarter jumped 13% year over year to $2.86 billion.
In the Q3 earnings call, the Barrick Gold Corp’s (NYSE:GOLD) management talked about pipeline projects:
Across the U.S., our teams are hunting for and securing significant early stage opportunities to feed into our project pipeline. In Western Nevada, Phase 1 drilling has been completed at Pearl Stream with Phase 2 scheduled to start soon. Further north, at the advanced Donnan project in Alaska, which boasts a very large resource, we are progressing key work streams to continue moving it up the value curve as detailed in this slide. And in Canada, fieldwork was successfully conducted on three properties, building confidence and advancing each project towards testing priority target concepts. We move now to Latin America and the Asia Pacific region, where we have been expanding our exploration portfolio. The main focus, however, has been, as I mentioned in the introduction, on the ramp up of the expanded Pablo Viejo Mine and the updating of the RekoDiq.
At the time of the merger, the Tier 1 Pueblo Viejo asset was destined to stop mining this year and processing by 2030, constrained as it was by low grades and a lack of tailings capacity. A visionary expansion project has unlocked to optimize 20,000,000 ounces of reserves, extending the mine’s life well beyond 2040 at an average annual production rate in excess of 800,000 ounces. A project of this size always comes with risks and challenges.
Read the full earnings call transcript here.
2. Agnico Eagle Mines Ltd (NYSE:AEM)
Number of Hedge Fund Investors: 38
Agnico Eagle Mines Ltd (NYSE:AEM) has a dividend yield of 2.99% as of December 5.
As of the end of the third quarter of 2023, 38 hedge funds were long AEM. The biggest stakeholder of the Agnico Eagle Mines Ltd (NYSE:AEM) was Jean-Marie Eveillard’s First Eagle Investment Management, which owns a $283 million stake in the Agnico Eagle Mines Ltd (NYSE:AEM).
1. Newmont Corporation (NYSE:NEM)
Number of Hedge Fund Investors: 49
With a 3.95% dividend yield and 49 hedge fund investors as of the end of September, Newmont Corporation (NYSE:NEM) tops our list of the best gold dividend stocks to buy now.
In October, the Newmont Corporation (NYSE:NEM) posted Q3 results. Adjusted EPS in the period came in at $0.36. Revenue fell 5% year over year to $2.5 billion.
Disclosure: None. You can also take a look at 12 Most Undervalued Gold Stocks To Buy According To Hedge Funds and the Top 20 Gold Mining Companies in the World.
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