5 Best Gold Stocks with Dividends

1. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Holders: 53

Dividend Yield as of December 2: 4.52%

Newmont Corporation (NYSE:NEM) is the largest gold mining company in the world with mines spanning eleven countries and three continents. The company wholly owns eleven mines, has partial ownership in two, and holds a significant chunk of the Merian project in Suriname. In the September quarter, Newmont Corporation (NYSE:NEM) reported all-in-sustaining costs of $1271 per ounce.

Newmont Corporation (NYSE:NEM) was covered by 10 Wall Street analysts with an average price target of $54.16 and a Moderate Buy rating. At the time of writing, the average price target represents an 11.28% upside at a stock price of $48.67.

In the third quarter of 2022, First Eagle Investment Management was the most prominent shareholder of Newmont Corporation (NYSE:NEM) with 17.855 million company shares, worth $750.466 million. D E Shaw came second after increasing its holdings in the company by 5450% to shares worth $143.867 million in the quarter.

Here is what First Eagle Investments had to say about Newmont Corporation (NYSE:NEM) in its Q2 2022 investor letter:

“Shares of Colorado-based Newmont, the largest gold miner in the world, experienced weakness in the quarter as falling gold bullion prices and cost inflation hurt miners in general. More idiosyncratically, the company reported slightly disappointing earnings and production results for its most recent quarter due to pandemic-related disruptions, ongoing supply-chain constraints, and labor shortages.

It also warned that operating costs for 2022 were likely to come in at the upper end of previous guidance. We remain constructive on the stock, which offers steady production anchored in good jurisdictions, a good pipeline of organic projects, a strong balance sheet, and proven management.”

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