Newmont Corporation (NEM)
Newmont: Buy The Dip As The Bullish Thesis Plays Out As Forecast
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 (NEM) Q2 2024 Earnings Call Transcript
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: Q2 Margins Soar On Back Of Record Gold Price
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.
Mining Stock Tumbles as Oil Prices Soften
Newmont Corporation (NYSE:NEM) stock is down 3.5% to trade at $46.07 at last check, brushing off a second-quarter earnings and revenue beat as gold prices soften.
Gold Hits All-Time Highs and 5 Dividend Stocks Earnings Could Explode
24/7 Wall St. Insights Some top Wall Street strategists feel the AI tech rally is overextended.
Newmont's (NEM) Earnings and Revenues Beat Estimates in Q2
Newmont (NEM) beats respective earnings and sales estimates in the second quarter on higher gold production.
Newmont generates $594 million in free cash flow in Q2
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Newmont Corporation (NEM) Q2 Earnings and Revenues Top Estimates
Newmont Corporation (NEM) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.33 per share a year ago.
Let's Preview Newmont's Q2 Earnings
Newmont Corporation's stock has outperformed the market by almost three times over the past few months. Q1 FY2024 results showed revenue and EPS beating consensus, with improvements in margins and cash flow generation. Analysts have mixed forecasts for Q2 FY2024, providing an opportunity for Newmont to beat expectations and continue its growth trajectory.
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Avi Gilburt provides technical context on market rally, recommends Treasury ETFs like TLT for trade, and discusses how the Fed follows the market. Metals are setting up for a strong second half of 2024, with potential for silver to see a parabolic rally.
Are Basic Materials Stocks Lagging Newmont (NEM) This Year?
Here is how Newmont Corporation (NEM) and SilverCrest Metals Inc. (SILV) have performed compared to their sector so far this year.
Is Newmont (NEM) Stock a Must-Buy Ahead of Q2 Earnings?
Newmont (NEM) is expected to have benefited from increased production volumes, lower unit costs and higher gold prices in the second quarter.
