1. Newmont Corporation (NYSE:NEM)
Number of Hedge Funds Holders: 69
Newmont Corporation (NYSE:NEM), a leading gold mining company, is engaged in the exploration and production of copper, zinc, lead, silver, and gold. Its operations span the globe, including Canada, Ghana, Australia, and the United States.
Newmont led a transformational year in 2024 as it integrated acquired assets, enhanced its portfolio, and stabilized operations. The company delivered 6.8 million ounces of gold and over 150,000 tons of copper, surpassing its production guidance, for the period ended December 31, 2024. Backed by higher sales volume and strong gold prices, free cash flow garnered $2.9 billion for the year, including a record $1.6 billion in Q4.
Moreover, Newmont Corporation (NYSE:NEM) reported 134.1 million attributable ounces at year-end 2024. The company’s progressive Tier 1 portfolio includes 125.5 million ounces of gold and considerable copper and silver reserves. While Cadia, Lihir, and Ahafo South witnessed negligible drops due to depletion and updates to pit designs, key reserve growth was seen at Boddington and Tanami. Looking ahead, Newmont’s long-term production potential was solidified by exploration efforts that made a significant addition to Brucejack, Ahafo North, and Merian.
Additionally, Newmont is making progress on its key projects, such as expansion at Cadia, Tanami, and Ahafo North. These expansions are anticipated to enhance production capacity and decrease costs in the upcoming years. The company maintains a strong position to capitalize on gold and copper market cycles with a wide-ranging portfolio across stable jurisdictions.
By distributing $2.3 billion in 2024 through dividends and share buybacks, Newmont Corporation (NYSE:NEM) reinforced its commitment to shareholder returns. While keeping $3.6 billion in cash and $7.7 billion in total liquidity, the company enhanced its balance sheet by lowering debt to below $8 billion. The company’s dedication to delivering consistent value to investors is further demonstrated through its stable $1.00 per share annual dividend.
To conclude, the stock has garnered 24.23% year-to-date, underscoring investor confidence in its performance and growth potential. Newmont remains one of the best gold stocks, with its efficient capital allocation and high-quality asset base.
Overall, Newmont Corporation (NYSE:NEM) ranks first on our list of the top gold stocks with dividends. While we acknowledge the potential of NEM, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NEM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
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