10 Best Dividend Stocks Yielding at Least 5% to Buy According to Hedge Funds

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6. AngloGold Ashanti PLC (NYSE:AU)

Dividend Yield: 5.85%

Levered Free Cash Flow: $3.56 billion

Number of Hedge Fund Holders: 32

AngloGold Ashanti PLC (NYSE:AU) is one of the best dividend stocks yielding at least 5% to buy according to hedge funds.

On June 26, Freedom Broker initiated coverage of AngloGold Ashanti (NYSE: AU) with a Buy rating and a $114 price target, citing the company’s position at a “strategic inflection point.” In its research note, the firm highlighted AngloGold’s recent portfolio transformation, including the addition of Sukari, which has strengthened its asset base. The analyst also pointed to AngloGold’s improved balance sheet and a pipeline of growth projects in Nevada, positioning the miner for enhanced operational and financial performance.

On June 24, Roth Capital analyst Joe Reagor reiterated a Buy rating on Anglogold Ashanti PLC. (NYSE:AU) but lowered the price target to $110 from $121. Despite the cut, the new price target underscores significant upside potential given that the stock is trading at about $78 a share.

The price target cut is in response to the president of Guinea announcing a ban on the export of unrefined gold from the country. The ban is expected to have a significant impact on the company’s operations. Additionally, Roth also lowered its price target to reflect the significant decline in gold prices over the past few weeks. The precious metal has lost more than 25% in value from its all-time high.

AngloGold Ashanti PLC (NYSE:AU) is a leading global gold mining company that explores, extracts, and processes gold across four continents. Headquartered in Denver, Colorado, and operating in 10 countries, the company produces gold bullion bars, along with silver and sulphuric acid by-products, to supply financial and manufacturing sectors worldwide.

While we acknowledge the potential of AU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AU and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Best Dividend Stocks Yielding at Least 5% to Buy According to Hedge Funds.

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