5 Best Precious Metals Stocks to Buy

In this piece, we will take a look at the five best precious metals stocks to buy. If you want to take a detailed look at the precious metals market and how prices are fluctuating, head on over to 11 Best Precious Metals Stocks to Buy.

5. Wheaton Precious Metals Corp. (NYSE:WPM)

Number of Hedge Funds Investors In Q1 2023: 29

Wheaton Precious Metals Corp. (NYSE:WPM) is a Canadian firm headquartered in Vancouver, British Columbia. It is a diversified precious metal firm that sells different products such as gold, palladium, and silver. Additionally, Wheaton Precious Metals Corp. (NYSE:WPM) also sells cobalt, which has become quite valuable these days due to demand from the battery manufacturing industry.

By the end of this year’s first quarter, 29 of the 943 hedge funds part of Insider Monkey’s database had bought a stake in Wheaton Precious Metals Corp. (NYSE:WPM). Jean-Marie Eveillard’s First Eagle Investment Management is its largest shareholder in our database since it owns 20 million shares that are worth $977 million.

4. Franco-Nevada Corporation (NYSE:FNV)

Number of Hedge Funds Investors In Q1 2023: 31

Franco-Nevada Corporation (NYSE:FNV) is another Canadian firm. It is a mining streaming firm, with interests in assets in regions such as Panama, Chile, Peru, and the United States. Franco-Nevada Corporation (NYSE:FNV) also sells petroleum products and is headquartered in Toronto, Canada.

As of Q1 2023, 31 of the 943 hedge funds profiled by Insider Monkey had invested in the precious metals firm. Franco-Nevada Corporation (NYSE:FNV)’s biggest hedge fund investor is Jim Simons’ Renaissance Technologies with a $506 million stake.

3. Barrick Gold Corporation (NYSE:GOLD)

Number of Hedge Funds Investors In Q1 2023: 41

Barrick Gold Corporation (NYSE:GOLD) is one of the biggest gold mining companies in the world. In the precious metals domain, it primarily produces gold and has gold mining operations in Africa and North America.

After digging through 943 hedge funds for their March quarter of 2023 shareholdings, Insider Monkey found out that 41 had bought a stake in Barrick Gold Corporation (NYSE:GOLD). Jean-Marie Eveillard’s First Eagle Investment Management is the biggest shareholder, owning 42 million shares that are worth $795 million.

2. Agnico Eagle Mines Limited (NYSE:AEM)

Number of Hedge Funds Investors In Q1 2023: 42

Agnico Eagle Mines Limited (NYSE:AEM) is another mining giant. With more than ten thousand employees, the firm is a diversified precious metals company with mines in Europe, North America, and Oceania. Agnico Eagle Mines Limited (NYSE:AEM) is headquartered in Toronto, Canada.

42 out of the 943 hedge funds part of Insider Monkey’s database had bought and owned Agnico Eagle Mines Limited (NYSE:AEM)’s shares by the end of this year’s first quarter. The firm’s biggest shareholder is Jean-Marie Eveillard’s First Eagle Investment Management with a $318 million stake.

1. Newmont Corporation (NYSE:NEM)

Number of Hedge Funds Investors In Q1 2023: 52

Newmont Corporation (NYSE:NEM) is an American gold mining company headquartered in Denver, Colorado. The firm has close to a hundred million ounces of proven and probable gold reserves.

Insider Monkey’s Q1 2023 survey covering 943 hedge funds revealed that 52 had invested in the gold company. Newmont Corporation (NYSE:NEM)’s largest hedge fund shareholder in our database is Jean-Marie Eveillard’s First Eagle Investment Management through owning a $903 million investment.

Disclosure: None. You can also take a look at 10 Best Big Name Stocks to Buy Now and 10 Best Small-Cap Growth Stocks to Buy Now.

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