CA - Newmont: I Am Adding This 3% Yielding Miner To My Portfolio

2024-03-18 13:20:55 ET

Summary

• Newmont Corporation is a leading company in the gold production sector with a strong portfolio of gold and copper reserves.
• NEM offers a great diversification benefit as it holds a massive gold and copper asset base that typically leads to less correlated returns. In the current economic context, this comes in handy.
• The interesting part of this story is that NEM provides a tangible yield of 3% that is backed by a fortress balance sheet, making the diversification move less costly.
• Plus, there are several elements that could drive the currently depressed share price higher, thus enhancing the overall thesis (i.e., portfolio protection).
• In this article, I outline why I am adding NEM to my portfolio.

Newmont Corporation ( NEM ) is one of the leading companies in the gold production industry. It is included in the S&P 500, carrying a market cap of ~$39 billion and, most importantly, a top-class portfolio of gold and copper....

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