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Newmont Corporation stock seems to be quite undervalued today. I expect it to continue its recent uptrend due to the rise in gold prices.
The company's financials in Q1 2024 showed strong performance, with increased revenue and improved operating cash flow. FCF is set to improve this year.
Despite potential risks, such as management's ability to optimize costs and market fluctuations, the discount in NEM's valuation outweighs the risks.
I initiate coverage of NEM stock today with a "Buy" rating.