5 Gold Stocks that Pay Dividends

3. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Holders: 45 

Dividend Yield as of May 12: 3.35%    

Newmont Corporation (NYSE:NEM) produces and explores for gold. Tom Palmer, the CEO of the firm, has recently said that the company plans to move ahead with plans to invest $2 billion into a mine expansion project in Peru. The firm has already committed $500 million in funding to this plan. Newmont also plans to expand into copper production as part of this plan. The investment will boost the government of Peru that has witnessed two of the largest copper mines in the country suspend production following conflicts with indigenous communities.

Newmont Corporation (NYSE:NEM) has paid a dividend to shareholders consistently for the past three decades. These payouts have grown over the past two years. On April 21, the company declared a quarterly dividend of $0.55 per share, in line with previous. 

At the end of the fourth quarter of 2021, 45 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Newmont Corporation (NYSE:NEM), compared to 48 in the preceding quarter worth $774 million. 

In its Q3 2021 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 largest gold miner in the world, Newmont Corporation (NYSE:NEM) shares lost ground in what was a volatile and ultimately down quarter for the price of gold. The Colorado-based company has continued to execute well in what has been a challenging environment. The company recently reaffirmed its full-year 2021 production guidance, but indicated that it was likely to come in at the mid to low point of the range provided as a result of disruptions from Covid-19 as well as severe weather events. It also noted that inflation pressures were likely to push its costs higher in 2021. None of this changes our opinion of the stock, which has historically offered steady production anchored in good jurisdictions, a good pipeline of organic projects, a strong balance sheet and proven management.”