9. Alamos Gold Inc. (NYSE: AGI)
Number of Hedge Fund Holders: 22
Alamos Gold Inc. (NYSE: AGI) operates in the acquisition and extraction of gold in North America, Canada, and Mexico. The company also explores silver and other precious metals, and its flagship project is the Young-Davidson mind located in Canada. It ranks 9th on our list of the best gold and silver stocks to buy amid rising inflation.
By the end of the first quarter of 2021, 22 hedge funds out of the 866 tracked by Insider Monkey held stakes in Alamos Gold Inc. (NYSE: AGI). The total value of their stakes was roughly $267 million. This is compared to 17 hedge funds out of 887 in the previous quarter holding stakes valued at about $309 million.
Like Newmont Corporation (NYSE: NEM), Barrick Gold Corporation (NYSE: GOLD), Wheaton Precious Metals Corp. (NYSE: WPM) and First Majestic Silver Corp. (NYSE: AG), Alamos Gold Inc. (NYSE: AGI) is a good precious metal stock to invest in.
Palm Valley Capital mentioned Alamos Gold Inc. (NYSE: AGI) in its first-quarter 2021 investor letter. Here’s what they said:
“Alamos Gold (AGI) is a Canadian-based gold producer with three operating mines in North America. We believe Alamos’s 9.7 million ounces of proven and probable gold reserves are selling at a discount to our calculated replacement valuation. Furthermore, we are attracted to the company’s debt-free balance sheet and its ability to generate free cash flow at current gold prices. As global central banks aggressively expand their balance sheets, we are comforted owning Alamos’s high-quality tangible assets.”
8. iShares Silver Trust (NYSE: SLV)
Number of Hedge Fund Holders: 25
iShares Silver Trust (NYSE: SLV) is an exchange-traded fund managed by iShares Delaware Trust Sponsor LLC. It invests in the commodity markets with a focus on silver. The fund tracks the silver bullion’s daily performance and ranks 8th on our list of the best gold and silver stocks to buy amid inflation.
iShares Silver Trust (NYSE: SLV) has $14.79 billion in assets under management and in the past year, the fund’s price returns have been up 46.03% versus the S&P 500’s price return rise of 36.38%. The fund’s total return has been up 46.03% versus 10.40% for the S&P 500. The stock has gained 2.77% in the past 6 months.
By the end of the first quarter of 2021, 25 hedge funds out of the 866 tracked by Insider Monkey held stakes in iShares Silver Trust (NYSE: SLV). The total value of their stakes was roughly $208 million. This is compared to 28 hedge funds out of 887 in the previous quarter holding stakes valued at about $199 million.
Like Newmont Corporation (NYSE: NEM), Barrick Gold Corporation (NYSE: GOLD), Wheaton Precious Metals Corp. (NYSE: WPM), and First Majestic Silver Corp. (NYSE: AG), iShares Silver Trust (NYSE: SLV) is a good precious metal option to invest in.
7. Pan American Silver Corp. (NASDAQ: PAAS)
Number of Hedge Fund Holders: 27
Pan American Silver Corp. (NASDAQ: PAAS) is a company operating in the extraction and refining of precious metals including silver, gold, zinc, and lead, through mines in Canada, Mexico, Peru, Argentina, and Bolivia. The company holds interests in the La Colorada, Dolores, Huaron, and Morococha mines, among a range of others. It ranks 7th on our list of the best gold and silver stocks to buy amid rising inflation.
Pan American Silver Corp. (NASDAQ: PAAS) declared a $0.07 per share quarterly dividend this May, with a forward yield of 0.84%. For the first quarter of 2021, the company has EPS of $0.18 versus estimates of $0.29 and revenue valued at $368.1 million. The company also has a gross profit margin of 46.36% and has gained 0.84% in the past year. The stock has a consensus Buy rating.
By the end of the first quarter of 2021, 27 hedge funds out of the 866 tracked by Insider Monkey held stakes in Pan American Silver Corp. (NASDAQ: PAAS). The total value of their stakes was roughly $352 million. This is compared to 27 hedge funds out of 887 in the previous quarter holding stakes valued at about $466 million.
Like Newmont Corporation (NYSE: NEM), Barrick Gold Corporation (NYSE: GOLD), Wheaton Precious Metals Corp. (NYSE: WPM), and First Majestic Silver Corp. (NYSE: AG), Pan American Silver Corp. (NASDAQ: PAAS) is a good precious metal stock to invest in.
6. Kinross Gold Corporation (NYSE: KGC)
Number of Hedge Fund Holders: 27
Kinross Gold Corporation (NYSE: KGC) is a company working to acquire and develop gold properties in the US, Russia, Brazil, Chile, Ghana, and Mauritania. The company also extracts and processes gold-containing ores and reclaims gold mining properties while producing and selling silver as well. It ranks 6th on our list of the best gold and silver stocks to buy amid rising inflation.
On June 21st, Kinross Gold Corporation (NYSE: KGC) was reported to have said that mining activities at Tasiast mine in Mauritania have resumed operations after the damage from a fire shut down work last week. Restart costs are expected to be around $5o million, hence the company reduced the total production guidance for this year to 2.1 million ounces of gold. For 2022 and 2023, the company retained annual production guidance at 2.7 and 2.9 million ounces respectively. On June 23rd, the stock was upgraded to Outperform with an $8 price target by Credit Suisse.
For the first quarter of 2021, Kinross Gold Corporation (NYSE: KGC) had EPS of $0.15, in line with estimates for the quarter. Revenue was valued at $986.5 million, representing a 20.31% growth year over year. The company also has a gross profit margin of 59.2%.
By the end of the first quarter of 2021, 27 hedge funds out of the 866 tracked by Insider Monkey held stakes in Kinross Gold Corporation (NYSE: KGC). The total value of their stakes was roughly $444 million. This is compared to 36 hedge funds out of 887 in the previous quarter holding stakes valued at about $694 million.
Like Newmont Corporation (NYSE: NEM), Barrick Gold Corporation (NYSE: GOLD), Wheaton Precious Metals Corp. (NYSE: WPM), and First Majestic Silver Corp. (NYSE: AG), Kinross Gold Corporation (NYSE: KGC) is a good precious metal stock to invest in.
Click to continue reading and see the 5 Best Gold and Silver Stocks to Buy Amid Rising Inflation.
Suggested articles:
Disclosure: None. 10 Best Gold and Silver Stocks to Buy Amid Rising Inflation was originally published on Insider Monkey.