5 Most Undervalued Gold Stocks To Buy According To Hedge Funds

In this piece, we will take a look at the five most undervalued gold stocks to buy according to hedge funds. To learn why gold is central to today’s economic environment, take a look at 12 Most Undervalued Gold Stocks To Buy According To Hedge Funds.

5. Alamos Gold Inc. (NYSE:AGI)

Number of Hedge Fund Investors In Q3 2023: 23

Latest P/E Ratio: 27.41

Alamos Gold Inc. (NYSE:AGI) is a Canadian company with mines in Canada, Mexico, and the U.S. The firm has beaten analyst EPS estimates in all four of its latest quarters and the shares are rated Buy on average.

During this year’s September quarter, 23 out of the 910 hedge funds part of Insider Monkey’s database had invested in Alamos Gold Inc. (NYSE:AGI). Jean-Marie Eveillard’s First Eagle Investment Management owned the biggest stake among these which was worth $107 million.

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

Number of Hedge Fund Investors In Q3 2023: 24

Latest P/E Ratio: 40.32

Wheaton Precious Metals Corp. (NYSE:WPM) is a Canadian company headquartered in Vancouver, Canada. Even though the firm has beaten analyst EPS estimates in only two out of its four latest quarters, the stock is rated Strong Buy on average with an average share price target of $56.51.

By the end of Q3 2023, 24 out of the 910 hedge funds profiled by Insider Monkey had bought and owned the firm’s shares. Wheaton Precious Metals Corp. (NYSE:WPM)’s largest stakeholder out of these is Jean-Marie Eveillard’s First Eagle Investment Management since it owns $851 million worth of shares.

3. Franco-Nevada Corporation (NYSE:FNV)

Number of Hedge Fund Investors In Q3 2023: 27

Latest P/E Ratio: 32.97

Franco-Nevada Corporation (NYSE:FNV) is a gold royalty company headquartered in Toronto, Canada. The firm lowered its production guidance from a Panama mine in November 2023 as it faced off with strikes at the site.

Insider Monkey dug through 910 hedge fund holdings for this year’s third quarter and found that 27 had held a stake in Franco-Nevada Corporation (NYSE:FNV). Jim Simons’ Renaissance Technologies was the biggest shareholder out of these due to its $446 million stake.

2. Kinross Gold Corporation (NYSE:KGC)

Number of Hedge Fund Investors In Q3 2023: 29

Latest P/E Ratio: 29.73

Kinross Gold Corporation (NYSE:KGC) is a Canadian gold mining company with operations in Brazil, Canada, and other countries. The firm has done well on the financial front as of late since it has beaten analyst EPS estimates in all four of its latest quarters.

For their shareholdings during this year’s September quarter, 29 out of the 910 hedge funds covered by Insider Monkey’s research had invested in the company. Kinross Gold Corporation (NYSE:KGC)’s largest hedge fund investor is Jim Simons’s Renaissance Technologies as it owns $128 million worth of shares.

1. Agnico Eagle Mines Limited (NYSE:AEM)

Number of Hedge Fund Investors In Q3 2023: 38

Latest P/E Ratio: 9.74

Agnico Eagle Mines Limited (NYSE:AEM) is one of the biggest gold companies in the world with more than ten thousand employees. The firm’s shares are rated Strong Buy on average, and analysts have set an upside of $15 for the company based on an average share price target of $50.

38 out of the 910 hedge funds part of Insider Monkey’s Q3 2023 database had bought and owned Agnico Eagle Mines Limited (NYSE:AEM)’s shares. The biggest hedge fund investor during the time period was Jean-Marie Eveillard’s First Eagle Investment Management due to its $283 million stake.

Disclosure: None. You can also take a look at 16 Richest Hedge Fund Managers in the World and 11 Best Cheap Stocks To Buy For Long Term.

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