Gradient Investments LLC Increases Investment in Newmont Corporation
July 1, 2023
🌥️Trending News
Gradient Investments LLC has recently increased its stock holdings in Newmont Corporation ($NYSE:NEM), according to Defense World. Newmont Corporation is a gold mining company that is headquartered in Colorado, USA. The company has operations in Canada, Mexico, Peru, Australia, Ghana, Suriname, Argentina, Chile and other countries. It is the world’s biggest gold mining firm and its shares are traded on the New York Stock Exchange. Newmont Corporation is one of the world’s leading gold producers, with a portfolio of assets and operations spanning the globe. It has a diversified portfolio of producing mines and advanced-stage projects that include a mix of owned and joint-venture properties.
The company’s production mix consists of gold, silver, copper, zinc and lead. Newmont Corporation is well-known for its commitment to safety and sustainability, and has adopted industry-leading environmental standards. It is well-positioned to benefit from future gold price increases due to its diverse portfolio of operating assets and strong balance sheet. As such, investors may want to consider investing in Newmont Corporation as a way to gain exposure to the gold market.
Market Price
Gradient Investments LLC announced on Friday that it had increased its investment in Newmont Corporation, one of the world’s largest gold producers. This investment comes after Newmont’s stock opened at $42.0 and closed at $42.7, up by 1.7% from the prior closing price of $42.0. The increase in stock prices was a result of positive news regarding the company’s operations, and the growing demand for precious metals. This news is sure to boost investor sentiment and confidence in the company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Newmont Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 11.57k | -526 | 2.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Newmont Corporation. More…
| Operations | Investing | Financing |
| 3.01k | -2.81k | -1.81k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Newmont Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 38.37k | 18.82k | 24.44 |
Key Ratios Snapshot
Some of the financial key ratios for Newmont Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.2% | -9.1% | 0.8% |
| FCF Margin | ROE | ROA |
| 6.8% | 0.3% | 0.1% |
Analysis
At GoodWhale, we conducted an analysis of NEWMONT CORPORATION‘s fundamentals and have classified it as a ‘cow’ company. This classification indicates that the company has a track record of paying out consistent and sustainable dividends. Investors who are looking for a steady income stream from their investments may be particularly interested in NEWMONT CORPORATION. We also found that NEWMONT CORPORATION is strong in dividend, medium in asset, profitability and weak in growth. Despite this, it has a high health score of 8/10 which indicates that it is capable of sustaining future operations in times of crisis due to its cashflows and debt. More…
Peers
Newmont Corp is one of the world’s leading gold miners. Its main competitors are Barrick Gold Corp, Agnico Eagle Mines Ltd, and Anglogold Ashanti Ltd. Newmont has a long history of successful gold mining operations, and is one of the largest gold producers in the world.
– Barrick Gold Corp ($TSX:ABX)
Barrick Gold Corporation is a gold mining company that has operations in Argentina, Australia, Canada, Chile, the Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, Tanzania, and the United States. The Company produces and sells gold and copper, with gold mines that include Cortez, Goldstrike, and Turquoise Ridge. Barrick also has a joint venture with Newmont Corporation. The Company’s shares are traded on the Toronto Stock Exchange and the New York Stock Exchange.
– Agnico Eagle Mines Ltd ($TSX:AEM)
Agnico Eagle Mines Ltd is a gold producer with operations in northwestern Quebec, northern Mexico, and Nunavut, Canada. The company has a market cap of 26.78 billion as of 2022 and a return on equity of 4.04%. Agnico Eagle Mines Ltd is a gold producer with operations in northwestern Quebec, northern Mexico, and Nunavut, Canada. The company has a market cap of 26.78 billion as of 2022 and a return on equity of 4.04%.
– Anglogold Ashanti Ltd ($LTS:0HFY)
Anglogold Ashanti Ltd is a gold mining company with a market cap of 5.28B as of 2022. The company has a return on equity of 15.08%. Anglogold Ashanti Ltd is engaged in the exploration, development, and mining of gold properties. The company was founded in 1944 and is headquartered in Johannesburg, South Africa.
Summary
Newmont Corporation, a gold mining company headquartered in Denver, Colorado, has recently seen a surge in investment from Gradient Investments LLC. Analysts suggest the uptick is driven by the company’s strong balance sheet, attractive dividend yield, and its consistent focus on creating long-term value for shareholders. The company has a proven track record of value creation through cost-effective capital investments and efficient operations. Newmont provides exposure to gold prices as well as to copper, silver and zinc, offering investors an opportunity to diversify their portfolios. The company’s balance sheet is well-positioned in terms of debt, and its free cash flow is expected to be strong.
In addition, Newmont is planning to expand into new markets and increase portfolio diversification in order to further maximize returns. Overall, Newmont is a solid investment for investors seeking exposure to gold mining and related industries.
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