5 Best Mineral Stocks To Buy Now

1. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Holders: 55  

Newmont Corporation (NYSE:NEM) is a Colorado-based mining firm that has interests in gold, copper, silver, zinc, and lead. It operates in several countries around the world, including the United States, Canada, Mexico, Peru, Argentina, Australia, and Ghana, among others. The firm had proven gold reserves of 94 million ounces at the end of 2020. As gold prices climb above $1800/oz for the first time in two months, the stock has soared. 

Newmont Corporation (NYSE:NEM) has solid fundamentals and an impressive dividend history. In late October, the firm declared a quarterly dividend of $0.55 per share, in line with previous. The forward yield was 3.8%. 

At the end of the second quarter of 2021, 55 hedge funds in the database of Insider Monkey held stakes worth $1.2 billion in Newmont Corporation (NYSE:NEM), up from 43 in the preceding quarter worth $994 million. 

In its Q1 2020 investor letter, First Eagle Investment Management, an asset management firm, highlighted a few stocks and Newmont Corporation (NYSE:NEM) was one of them. Here is what the fund said:

“The gold price helped support the stock price of Newmont Corporation, a Colorado-based miner with, in our view, highquality assets located in favorable mining jurisdictions in North America, South America, Australia and Africa. With what we consider an impressive portfolio of assets, strong management team, solid balance sheet and history of generating free cash flow, Newmont appears well positioned to withstand the economic disruptions related to the coronavirus pandemic.”

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