Buy The Dip On These 10 Semiconductor Stocks Tumbling On China H20 Chip Sale Ban

7. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Holders: 69

Newmont Corporation is primarily a gold exploration company, but also explores for critical materials like zinc, silver, and copper, among others. Its operations are spread across both North and South America.

The company’s stock is relatively stable because it only supplies critical material to the semiconductor industry, rather than having to adjust to the latest technological requirements like many other suppliers. NEM is therefore a stable alternative to the cyclical industry, providing a decent dividend yield of 1.83%.

The stock not only recovered well from the early April rout but is also closing in on its 52-week high thanks to a surge in gold prices. Due to multiple tailwinds likely to drive the stock price going forward, and limited exposure to the cyclical nature of the semiconductor industry, NEM is part of our list and the least likely to get negatively impacted by the US government’s export restrictions on H20 chips.