#3 - Newmont (NYSE:NEM)
Newmont Corporation (NYSE: NEM) is better known as a gold mining company to some investors. But it also mines many copper, silver, and other metals. As of the company’s most recent earnings report in November 2022, Newmont had mined 110 million pounds of copper and had over 150 billion pounds in reserve.
Newmont draws some criticism from investors due to its growth strategy through acquisitions. In response, the company will point to its balance sheet which as of its last earnings report featured $6.7 billion in total liquidity. One benefit of that balance sheet is that the company will have little trouble paying its dividend, which currently has a yield of 4.87%.
NEM stock is down about 33% in the last 12 months and about 5% in 2023. However, analysts tracked by MarketBeat give NEM stock a consensus price target of $64.02 which would be a 40% improvement from the price as of February 21, 2023.
About Newmont
Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.
Read More - Current Price
- $43.24
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $54.85 (26.8% Upside)
