This article presents an overview of the 5 Best Gold Stocks With Dividends. For a detailed overview of such stocks, read our article, 12 Best Gold Stocks With Dividends.
5. Franco-Nevada Corp (NYSE:FNV)
Number of Hedge Fund Investors: 27
Franco-Nevada Corp (NYSE:FNV) ranks 5th in our list of the best gold stocks with dividends. Last month Franco-Nevada Corp (NYSE:FNV) posted third quarter results. Adjusted EPS in the three-month period came in at $0.91, above the analyst consensus by $0.02. Revenue inched up by about 1.7% year over year to $309.5 million, missing estimates by $13.84 million.
4. Kinross Gold Corporation (NYSE:KGC)
Number of Hedge Fund Investors: 29
Canadian gold and silver mining company Kinross Gold Corporation (NYSE:KGC) ranks 4th in our list of the best gold stocks with dividends.
A total of 29 hedge funds in Insider Monkey’s database of 910 hedge funds had stakes in Kinross Gold Corporation (NYSE:KGC).
3. Barrick Gold Corp (NYSE:GOLD)
Number of Hedge Fund Investors: 36
Canadian-based gold and copper mining company Barrick Gold Corp’s (NYSE:GOLD) adjusted EPS in the third quarter came in at $0.24, beating estimates by $0.04. Revenue jumped about 13% year over year to $2.86 billion.
President and CEO of Barrick Gold Corp (NYSE:GOLD), Mark Bristow, during Q3 earnings call, talked about Barrick Gold Corp’s (NYSE:GOLD) dividend policy, among other things:
“… it stands that we pay a base dividend of $0.10 a quarter anytime because our long-term business strategy delivers that base dividend no matter what the gold price is or what the most foreseeable gold price or minimum gold price is. And then once we get a net positive cash position, we add to that $0.10.
Now the way we can manage that is and we won that because we are in the growth phase. And I have proven before, and I am determined to prove it again. If you keep investing into profitable assets, ultimately, you make more money than you need to reinvest in your future. And that is what happened in Randgold after 10-years, and we had … of growing dividends no matter what the gold price was. And so, the way we can manage that, buyback relative to dividend is when we see the trajectory going above net cash, we have a choice. Buyback the stock or let it go past that point. And then at the end of the quarter, if we have got net cash, we it triggers our dividend policy. So that, as management, we can manage that and we never put the balance sheet at risk.”
Read the entire earnings call transcript here.
2. Agnico Eagle Mines Ltd (NYSE:AEM)
Number of Hedge Fund Investors: 38
Headquartered in Canada, Agnico Eagle Mines Ltd (NYSE:AEM) has operations in Australia, Mexico, Finland and Canada. In October Agnico Eagle Mines Ltd (NYSE:AEM) posted Q3 results. Adjusted EPS in the period came in at $0.44 surpassing estimates by $0.02.
A total of 38 hedge funds in Insider Monkey’s database had stakes in Agnico Eagle Mines Ltd (NYSE:AEM). The biggest stakeholder of Agnico Eagle Mines Ltd (NYSE:AEM) was Jean-Marie Eveillard’s First Eagle Investment Management which owns a $283 million stake in Agnico Eagle Mines Ltd (NYSE:AEM).
1. Newmont Corporation (NYSE:NEM)
Number of Hedge Fund Investors: 49
With a dividend yield of about 4% and 49 hedge fund investors, Newmont Corporation (NYSE:NEM) tops our list of the best gold stocks with dividends according to smart money investors.
As of the end of the third quarter of 2023, 49 hedge funds in Insider Monkey’s database were long Newmont Corporation (NYSE:NEM). The biggest stakeholder of Newmont Corporation (NYSE:NEM) was Jean-Marie Eveillard’s First Eagle Investment Management which owns a $675 million stake in Newmont Corporation (NYSE:NEM).
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