5 Best Mineral Stocks To Buy Now

2. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Holders: 56

Newmont Corporation (NYSE:NEM) is headquartered in Denver, Colorado, and the company engages in the production and exploration of gold, copper, silver, zinc, and lead. The company has operations and assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. 

On October 27, Newmont Corporation (NYSE:NEM) declared a quarterly dividend of $0.55 per share. The dividend is payable on December 29, to shareholders of record on December 8. Since the inception of its dividend policy, the company has returned approximately $4 billion to shareholders. Newmont Corporation (NYSE:NEM) is one of the premier mineral stocks to buy now. 

National Bank analyst Mike Parkin on October 13 raised the price target on Newmont Corporation (NYSE:NEM) to C$80 from C$79 and kept an Outperform rating on the shares.

According to Insider Monkey’s data, 56 hedge funds were bullish on Newmont Corporation (NYSE:NEM) at the end of June 2022, compared to 53 funds in the prior quarter. Rajiv Jain’s GQG Partners is the largest stakeholder of the company, with 34.8 million shares worth over $2 billion. 

Here is what First Eagle Investments Global Fund has 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.”