Zacks.com users have recently been watching Newmont (NEM) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
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With a robust portfolio of growth projects, solid financial health and a healthy growth trajectory, Newmont (NEM) presents a compelling investment case for those looking to capitalize on favorable gold market conditions.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Newmont Co. NYSE: NEM is the world's largest gold mining company. The company engages in the exploration, development, and production of not only gold but also copper, silvers, zinc, lead, lithium, coal, nickel, and aggregates.
As of Aug 2, 2024, two stocks in the materials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
Newmont (NEM) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Newmont Corporation (NEM) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, NEM broke through the 20-day moving average, which suggests a short-term bullish trend.
Newmont (NEM) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Newmont's Q2 results were in line with my forecast. I'm buying the dip as cash flow will increase further, NEM is still undervalued, and asset sales will act as a bullish catalyst. The shares could still drift lower before they reverse, but I still expect NEM to hit new highs for the year within the next few months.
Newmont Corporation (NYSE:NEM ) Q2 2024 Earnings Conference Call July 25, 2024 11:00 AM ET Company Participants Thomas Palmer - President and CEO Natascha Viljoen - EVP and COO Karyn Ovelmen - EVP and CFO Conference Call Participants Lawson Winder - Bank of America Securities Daniel Major - UBS Tanya Jakusconek - Scotiabank Matthew Murphy - Jefferies Anita Soni - CIBC Wall Markets Bob Brackett - Bernstein Research Brian MacArthur - Raymond James Michael Parkin - National Bank Operator Good morning, and welcome to Newmont's Second Quarter 2024 Earnings Call. [Operator Instructions].
Newmont reported mediocre Q2 operating results with production dragged down by a suspension of operations at Cerro Negro and weaker output from NGM and Pueblo Viejo. Fortunately, higher metals prices (namely gold) picked up all of the slack, helping Newmont to report higher AISC margins of $785/oz and return to significant free cash flow generation. In this update, we'll dig into the Q2 results, recent developments, and whether the stock is worthy of investment ahead of further margin gains in 2025.