Newmont Corporation: Gold Is Expected To Be The Top Investment Pick In 2024
January 4, 2024
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Newmont Corporation ($NYSE:NEM) is a leading global gold mining company with strong assets and operations in the United States, Australia, Peru, Indonesia, and Ghana. The Company has a history of continuously generating returns for investors and has consistently been recognized for its performance and achievements. I am highly confident that Newmont Stock will be a great investment pick in 2024. With the increasing demand for gold around the world, gold prices are expected to soar in the coming years, making Newmont an appealing option for investors. The company’s portfolio is well diversified across different regions, providing a balanced exposure to gold reserves.
Moreover, Newmont is well-positioned to benefit from increasing gold prices due to its competitive production costs and disciplined capital investment strategies. In conclusion, Newmont Corporation is a reliable stock to consider for investment in 2024 based on its record of high performance and its diverse portfolio of assets. With gold prices set to skyrocket in the near future, investing in Newmont is an excellent way to capitalize on this trend.
Market Price
On Tuesday, the stock of Newmont Corporation opened at $41.3 and closed at $40.9, down 1.2% from its previous closing price of $41.4. With a portfolio of gold production facilities across the world, Newmont Corporation is in a prime position to benefit from the expected increase in demand for gold in 2024. As such, the current stock price of Newmont Corporation may be undervalued and could be expected to trend upwards in the future. 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 an analysis of the wellbeing of NEWMONT CORPORATION. Based on our Star Chart, the company has a very high health score of 8/10 with regard to cashflows and debt. This indicates that NEWMONT CORPORATION is in a strong position and is capable to ride out any economic crises without fear of bankruptcy. Our analysis also reveals that while NEWMONT CORPORATION is strong in dividend, it is only medium in asset, profitability and growth. Based on this, we classify NEWMONT CORPORATION as a ‘cow’ – a type of company with a track record of paying out consistent and sustainable dividends. Given the nature of this type of company, we believe that it will likely be of interest to investors looking for long-term, steady returns. Those who are looking for higher levels of growth may not find this type of company as attractive. 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 is one of the top gold producers in the world and a leading gold stocks to watch for the next few years. Analysts are bullish on the company and suggest that Newmont stock is a strong investment opportunity in 2024. It offers investors an attractive entry point given its expected strong fundamentals, robust balance sheet, and the potential for a continued increase in the gold price. Newmont has a diversified portfolio of projects across the US, Canada, Mexico, Peru, and Australia.
Newmont has also announced plans to invest in green energy initiatives that could potentially boost share prices in the future. Investors should conduct their own research before investing in Newmont stock, but it appears to be a good option for those looking for exposure to gold.
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