#5 - Newmont Mining (NYSE:NEM)
Newmont Mining (NYSE:NEM) is up 25% in the last five years. That’s understandable because the Federal Reserve was expanding its balance sheet. And a lingering effect of inflating the money supply is currency devaluation.
However, rising interest rates generally make the dollar stronger. So is there a case to be made for NEM stock? There are reasons to believe it very well could be.
One reason for this bullish take is that inflation tends to be sticky. And when investors are concerned about the value of their nation’s currency, they frequently turn to precious metals. However, taking possession of physical metals has its drawbacks. That’s why many investors looking for exposure to precious metals choose mining stocks. And Newmont Mining remains one of the best in class for investors.
Newmont is the largest miner in the world, with a market cap of over $36 billion. In addition to having projects on four continents, the company reports it will have sustainable annual gold production of approximately 8 million gold equivalent ounces (GEOs) for the next 10 years.
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)
