Newmont Corp. Stock Rises Friday, But Lags Behind Market Performance
November 14, 2023
🌧️Trending News
Newmont Corporation ($NYSE:NEM) is a leading gold producer and the world’s largest gold mining company. On Friday, shares of Newmont Corporation rose, however it lagged behind the overall market performance. The rise in stock prices of Newmont Corporation was mainly attributed to the higher gold prices and higher sales volumes caused by the increase in production, as well as the higher sales prices for its products.
However, despite the positive news, Newmont Corporation still lagged behind the overall market performance. This was due to the uncertainty surrounding the global economy which weighed on investors’ sentiment and led to an overall decline in stock prices. Overall, Newmont Corporation stock rose on Friday, but it still lagged behind the overall market performance. The performance of the company’s stock will be closely monitored in the coming days to see if it can continue to rise despite the uncertain market conditions.
Share Price
It operates in the U.S., Australia, Peru, Indonesia, Ghana and Suriname, among other countries. Its portfolio of assets includes gold and copper mines as well as oil and gas exploration projects. Newmont Corp. is also involved in a range of sustainability initiatives that seek to minimize its environmental footprint. 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 |
| 11.05k | -813 | 1.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Newmont Corporation. More…
| Operations | Investing | Financing |
| 3.16k | -1.48k | -1.54k |
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 |
| 38.08k | 18.82k | 24 |
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 |
| -0.1% | -25.4% | -0.9% |
| FCF Margin | ROE | ROA |
| 6.9% | -0.3% | -0.2% |
Analysis
GoodWhale has conducted a fundamental analysis of NEWMONT CORPORATION and our Star Chart shows that it has a high health score of 8/10 with regard to its cashflows and debt, demonstrating that it can safely ride out any crisis without the risk of bankruptcy. Further to this, NEWMONT CORPORATION is strong in dividend, medium in asset, profitability and weak in growth. Based on this, we classify NEWMONT CORPORATION as a ‘cow’, a type of company we conclude that has the track record of paying out consistent and sustainable dividends. Such companies are typically attractive to income investors who prioritize a steady stream of dividend income over capital gain. 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‘s stock rose on Friday, but still lagged the overall stock market. Analysts attribute this to the company’s current lack of performance in terms of return on equity, operating cash flow and other metrics. The company’s stock price is also lower than its peers, indicating that investors are wary of Newmont’s ability to generate strong returns.
Newmont Corporation’s long history and commitment to creating value for shareholders through careful financial management should provide confidence that the company will continue to be a good investment choice. Investors should monitor Newmont’s progress and news developments closely for a better understanding of how the company is doing compared to its peers.
