5 Best Gold Mining Stocks to Invest In

In this article we discuss the 5 best gold mining stocks to invest in. If you want to read our detailed analysis of the mining industry, go directly to the 5 Best Gold Mining Stocks to Invest In.

5. Wheaton Precious Metals Corp. (NYSE: WPM) 

Number of Hedge Fund Holders: 28 

Wheaton Precious Metals Corp. (NYSE: WPM) is a Canada-based metal streaming company, mainly engaged in the mining of gold, silver, palladium, cobalt, and other metals. In 2020, it produced over 367 thousand ounces of gold, with 22.9 million ounces of silver. As of 2021, the company has over 23 operating mines. 

In Q1 2021, Wheaton Precious Metals Corp. (NYSE: WPM) recorded net earnings of $161 million, up from $101 million during the same period last year, showing a 54% year-over-year growth. The revenue also grew by 27.4% year-over-year at $324 million. The company produced 77,733 ounces of gold, accounting for $135 million of the total revenue. In Q1, it also increased its quarterly dividend by 7.7% at $0.14 per share. Earlier in May, JP Morgan set the price target of $75 on WPM stock, ranking it as ‘Buy’. 

At the end of Q1, 28 hedge funds tracked by Insider Monkey have positions in Wheaton Precious Metals Corp. (NYSE: WPM), worth $439 million. With 16.5 million shares, First Eagle Investment Management is the largest shareholder of the company.