09/07/2025 09:42

Newmont Corp-CDI (NEM) $92.47

We chose to look at NEM this morning due to the dramatic underperformance by the Australian gold miners in recent weeks, which has been hard to reconcile on the surface.

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17/04/2025 09:34

Newmont Corp (NEM US) $US55.95

US gold goliath NEM bought our own Newcrest (NCM) back in late 2023, and the miner has struggled in recent years, operationally, matching the misgivings of NCM. Since the acquisition, the company ADRs are now traded on the ASX, but we see better alternatives available with local names.

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05/12/2024 09:51

Newmont Corp (NEM US) $US41.39

NEM is the largest gold miner in the world and the 3rd largest mining company in the US, with a market cap of $US47bn. This is an excellent example of how operational execution, or lack thereof trumps the trend of the underlying commodity. We have covered NEM a few times over recent months, each time arriving at the same conclusion: We like the gold sector but have no interest in NEM.

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17/10/2024 09:46

Newmont Corp (NEM US) $US56.27

NEM is the world's largest gold producer both in terms of market cap and output, helped by last year's $26bn merger with long-time local favourite Newcrest (NCM). NEM has almost doubled from this year's low, which is no mean feat for a $US64bn company, although the gold price has afforded it a huge tailwind.

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10/07/2024 09:19

Is Newmont now better than Evolution for gold exposure?

As subscribers know, at MM, we are bullish gold, but as we always do, we question whether we have the optimum exposure for this view – so far in 2024, Evolution (EVN) has slipped -6.1% while Newmont (NEM) has gained +7.9%. Over the last 12-months there has been some major news for both companies:

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10/07/2024 09:18

Newmont Corp-CDI (NEM) $65.53

NEM has significantly underperformed the gold price and its sector peers over the last five years, partly due to poor performance compared to guidance, i.e. markets hate misses. However, we now believe guidance is achievable, and this will drive positive operational momentum vs what's priced into justifiably sceptical investor sentiment/positioning, i.e. given its operational performance in recent years, the de-rating is understandable, but there's now plenty of “bad news” already built into its price

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26/04/2024 09:17

Newmont Corp (NEM US) $US43.41

Newmont (NEM US) shares soared to a 9-month high overnight, the largest gain in four years, on higher gold production. It reported Q1 adjusted net income of 55c per share, up from 40c a year ago; expectations were only 37c. Old Newcrest shareholders will be happy with NEM set to power ahead on the ASX this morning.

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04/04/2024 09:17

Newmont Corp (NEM) $56.60

NEM may be the world's largest gold producer, but it's been an awful performer over the last few years. A number of Australian investors are now on the register of this US-based miner following its well-timed purchase of Newcrest Mining (NCM), i.e. NEM was trading ~$US50 while gold was struggling to punch above $US2,000.

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15/02/2024 09:25

Newmont Corp (NEM US) $US32.06

NEM is the world's largest gold producer, yet with the precious metals trading above $US2,000 for most of 2024, it has been a shocking two years for the miner. Like most of the sector, we can see NEM turning higher when bond yields turn lower, but after the production downgrade last October, we prefer the sidelines until the company improves operationally.

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02/02/2024 09:08

Newmont Corp. (NEM US) $34.51

Newmont is the world's largest gold company, aided by its recent purchase of previously ASX-listed Newcrest Mining (NCM); it currently has a market cap of ~$US40bn. If we had known where gold would be trading a few years ago, it would have been easy to lose money in many gold miners, including Newmont, which can now also be bought on the ASX using the Newmont Corp CDI’s (NEM).

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