5 Best Commodity Stocks To Buy According to Hedge Funds

In this article, we will be taking a look at the 5 best commodity stocks to buy according to hedge funds. To read our detailed analysis of the commodity sector, you can go directly to see the 12 Best Commodity Stocks to Buy According to Hedge Funds.

5. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Holders: 50

Newmont Corporation (NYSE:NEM) is a gold exploration company. It is based in Denver, Colorado.

Carey MacRury at Canaccord upgraded shares of Newmont Corporation (NYSE:NEM) from Hold to Buy on March 14.

In the fourth quarter, Newmont Corporation (NYSE:NEM) produced 5.7-6.3 million ounces of gold. Company revenues came in at $3.2 billion, beating estimates by $102.56 million. Analysts on Wall Street see the stock as a Moderate Buy, with six Buy ratings and five Hold ratings, according to TipRanks.

In total, 50 hedge funds were long Newmont Corporation (NYSE:NEM) in the fourth quarter, with a total stake value of $991 million.