The company also explores for copper deposits. It holds interests in nine operating mines with an annual gold-equivalent production of approximately 2.24 million ounces, as well as gold mineral reserves of approximately 52.1 million ounces and mineral resources of approximately 116.0 million ounces. Gold Fields was founded in 1887 and is based in Sandton, South Africa.
Investors receive a 2.33% dividend. The $18 BofA Securities target price compares with Gold Fields stock’s consensus target of $16.75. Friday’s final trade was reported at $13.75.
Kinross Gold
Investors who are more aggressive may want to consider this smaller cap mining company. Kinross Gold Corp. (NYSE: KGC) engages in the acquisition, exploration and development of gold properties principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana and Mauritania.
Kinross Gold is also involved in the extraction and processing of gold-containing ores, reclamation of gold mining properties and the production and sale of silver.
Shareholders receive a 2.19% dividend. The Kinross Gold stock has a price target of $7.65 at BofA Securities. The consensus target is $9.75. Friday’s closing price of $5.49 was down over 4% on the day.
Newmont
This is one of the largest mining companies and a solid buy for more conservative investors. Newmont Corp. (NYSE: NEM) is engaged in the production of gold.
Its North America segment consists primarily of Carlin, Phoenix, Twin Creeks and Long Canyon in Nevada and Cripple Creek and Victor in Colorado. The South America segment consists primarily of Yanacocha in Peru and Merian in Suriname. The Australia segment consists primarily of Boddington, Tanami and Kalgoorlie in Australia. The Africa segment consists primarily of Ahafo and Akyem in Ghana.
Shareholders receive a 2.95% dividend. The BofA Securities price objective is $96. The consensus target is up at $106.89. Newmont stock closed on Friday at $74.52.
Wheaton Precious Metals
This precious metals royalty stock makes good sense for more conservative investors who are looking to have exposure to the sector. Wheaton Precious Metals Corp. (NYSE: WPM) is a Canadian precious metals streaming company with approximately 60% of its revenues from the sale of silver and 40% from gold.
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