5 Best Dividend Stocks to Buy According to Billionaire Cliff Asness

3. Newmont Corporation (NYSE: NEM)

Asness’s Stake Value: $293,056,000
Percentage of Cliff Asness’s 13F Portfolio: 0.47%
Number of Hedge Fund Holders: 43
Dividend yield: 3.15%

Newmont Corporation (NYSE: NEM) is a basic materials company working in the gold industry and produces and explores gold. It also explores copper, silver, zinc, and lead, and has operations and assets in several countries including the US and Canada. Newmont Corporation (NYSE: NEM) ranks 3rd on our list of the best dividend stocks to buy according to billionaire Cliff Asness.

Newmont Corporation (NYSE: NEM) had revenue of $2.87 billion for the first quarter of 2021, demonstrating an 11.2% growth year over year. Newmont Corporation (NYSE: NEM) also generated $841 million in cash from continuing operations and had a $442 million free cash flow in the first quarter, while also announcing a $0.55 dividend per share. Newmont Corporation (NYSE: NEM) also reported $559 million in earnings. In May, the company closed the acquisition of the remaining 85% of GT Gold Corp, a $325 million deal. Newmont Corporation (NYSE: NEM) gained 18.28% in the past 6 months and 10.58% year to date and has a forward PE ratio of 19.41.

In the first quarter of 2021, 43 hedge funds held stakes in Newmont Corporation (NYSE: NEM) worth over $994 million, down from that 50 hedge fund holders with stakes worth over $1.21 billion in Q420. AQR Capital holds over 4.9 million shares in the company worth over $293 million.

Like PepsiCo, Inc. (NASDAQ: PEP), The Procter and Gamble Company (NYSE: PG), and Johnson and Johnson (NYSE: JNJ), Newmont Corporation (NYSE: NEM) is a dividend stock worth investing in.