5 Best Gold Stocks For Inflation

1. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Investors: 49

Dividend Percentage as of February 2: 4.80%

Headquartered in Greenwood Village, Colorado, Newmont Corporation (NYSE:NEM) ranks among the largest global gold mining companies, tracing its roots back to 1921. The corporation owns and operates gold mines situated in various regions, including Nevada, Colorado, Ontario, Quebec, Mexico, the Dominican Republic, Australia, Ghana, Argentina, Peru, and Suriname.

Recently, Newmont Corporation (NYSE:NEM) unveiled plans to generate $2 billion in cash through the sale of mines and divestment of projects subsequent to its acquisition of Australia’s Newcrest Mining. The completion of this approximately $15 billion deal on November 6 elevated the company’s valuation to around $50 billion, incorporating five active mines and two advanced projects into Newmont’s portfolio.

As of the third quarter of 2023, Insider Monkey’s analysis of shareholdings revealed that 49 out of 910 hedge funds had acquired shares of Newmont Corporation (NYSE:NEM). Among these investors, First Eagle Investment Management, under the leadership of Jean-Marie Eveillard, emerged as the most substantial shareholder, holding 18.28 million shares valued at $675.48 million.

Disclosure: None. You can also take a look at 11 Cheap Hot Stocks To Buy Now and 11 Best Green Stocks To Invest In 2023.

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