NEM - Newmont: Big Turnaround Story Is Unfolding Before Our Eyes

2024-07-11 11:30:00 ET

Summary

• Newmont Corporation investors are enjoying a remarkable revival.
• Fed Chair Jerome Powell didn't rock the boat in his recent congressional testimony.
• It has set the stage for Newmont's continued turnaround, as inflation and supply chain headwinds are expected to cool further.
• Bolstered by bullish gold prices, the company's production ramp is expected to strengthen its free cash flow margins significantly.
• I argue why NEM is close to a decisive breakout that could drive shares toward the $52 zone. Read on.

Newmont: Thank You, Jerome Powell

Investors in gold mining leader Newmont Corporation ( NEM ) are enjoying their welcomed revival, as NEM has continued to outperform the S&P 500 ( SP500 ) . In my previous bullish NEM update in April 2024, I encouraged investors to remain on board, as there's more potential upside to capitalize on. My conviction on the battered gold mining leader has played out, as demonstrated by the stock's resurgence....

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