#3 - Newmont Corporation (NYSE:NEM)
Newmont Corporation (NYSE:NEM) is the largest miner in the world and it has a premium stock price to support that. But are other gold stocks more worthy of your attention? You might think so, particularly after Newmont missed analysts’ expectations for earnings and revenue in its most recent quarter. But if you’re a risk-averse investor than the quality of NEM stock should come shining through.
In its most recent earnings report, Newmont reported 1.45 million ounces of gold production. Although that would put the company on pace to come in below 2020 production, the company still presented a bullish outlook that said it would extract 6.0 million ounces for the year.
However, like Barrick Gold, even with lowered expectations, NEM stock is still forecast to deliver strong 12-month price growth of over 23%. And that doesn’t include the sweetener investors get from the company’s dividend which currently nets out to $2.20 annually at an attractive yield of 3.83%.
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
- $38.28
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 7 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $54.31 (41.9% Upside)
