5 Best Gold Stocks Under $50

4. Kinross Gold Corporation (NYSE:KGC)

Number of Hedge Fund Holders: 26

Share Price as of July 24: $5.03

Kinross Gold Corporation (NYSE:KGC) specializes in acquiring, exploring, and developing gold properties primarily in the United States, Brazil, Chile, Canada, and Mauritania. It is one of the best gold stocks to monitor. On July 12, Kinross Gold Corporation (NYSE:KGC) announced its decision to redeem $500 million worth of outstanding 5.95% senior notes that are due on March 15, 2024. The redemption will take place on August 10, 2023. After the redemption, Kinross Gold Corporation (NYSE:KGC) will have $1.25 billion of senior notes remaining, and the next maturity date for senior notes is on July 15, 2027, for an aggregate principal amount of $500 million. To facilitate the redemption of the 5.95% senior notes, the company raised $500 million through the issuance of 6.250% senior unsecured notes, which will be due in 2033.

According to Insider Monkey’s first quarter database, Kinross Gold Corporation (NYSE:KGC) was part of 26 hedge fund portfolios, compared to 24 in the prior quarter. Ali Motamed’s Invenomic Capital Management is the biggest stakeholder of the company, with 5.3 million shares worth $25.3 million.