2024-05-07 05:34:04 ET
Summary
- 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.
My Thesis
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Newmont Is Too Cheap To Ignore