5 Best Beaten Down Stocks to Buy Now

4. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Holders: 53

Year-to-Date Price Share Decline as of August 1: 25.8%

Date of Newmont Corporation (NYSE:NEM) hitting a 52-week low: August 3

Newmont Corporation (NYSE:NEM) is another gold company on our list. It engages in the production and exploration of gold, while also exploring for copper, silver, zinc, and lead.

Analyst Carey MacRury at Canaccord upgraded Newmont Corporation (NYSE:NEM) from Hold to Buy this July. The analyst also has a $60 price target on the company’s shares.

While Newmont Corporation (NYSE:NEM) has been trading below its peak, the company commented this July that it is still committed to providing its shareholders sustainable returns. The company pays an attractive dividend to shareholders at a 4.9% yield as of August 1, making it one of the most tempting 52-week low stocks on the market. Andrew Bary at Barron’s has noted that Newmont Corporation’s (NYSE:NEM) strong balance sheet showing over $4 billion in cash and about $1.3 billion in net debt should be reassuring in terms of the company’s ability to continue paying its dividend.

Our hedge fund data for the first quarter shows 53 funds long Newmont Corporation (NYSE:NEM), with a total stake value of $3.5 billion.