5 Best Mining Stocks Hedge Funds Are Buying

3. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Investors In Q1 2023: 52

Newmont Corporation (NYSE:NEM) mines a variety of metals such as gold, copper, silver, and zinc. Even though its shares currently trade for around $41, the average share price target is $77.

Insider Monkey took a look at 943 hedge fund portfolios for 2023’s first quarter and found 52 investors in Newmont Corporation (NYSE:NEM). Out of these, Jean-Marie Eveillard’s First Eagle Investment Managemen has the largest shareholding, courtesy of its $903 million investment.

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