Gold Price and Mining Stocks Divergence - Gold prices (XAUUSD:CUR) have consolidated at December 2023 levels, while Newmont Corporation (NEM) and other gold mining stocks have underperformed, with NEM hitting new lows below November 2023 levels [1] - The VanEck Gold Miners ETF (GDX) has broadly derated, indicating a divergence between gold prices and gold mining stocks [1] - GLD (gold ETF) has outperformed GDX (gold miners ETF) since May 2023, suggesting market concerns over execution challenges in the gold mining sector [2] Newmont Corporation's Recent Developments - Newmont's acquisition of Newcrest has significantly bolstered its gold reserves, now estimated to last about 20 years, with expected synergies to drive operating performance [1] - The company is currently focused on integrating Newcrest assets, with management taking time to assess and optimize the acquisition [2] - Newmont is scheduled to report Q4 earnings on February 22, with investors advised to pay attention to updated FY24 guidance and management commentary [2] Financial Performance and Valuation - Analysts estimate Newmont's adjusted EPS to increase by approximately 40% in 2024, suggesting a bottoming out of earnings decline in 2023 [2] - The company's all-in sustaining costs (AISC) are around $1,400 per ounce, with expectations of further cost reductions due to improved scale economies [2] - Newmont's adjusted net margin is forecasted to improve significantly to 15.4% in FY24, supported by a robust balance sheet with an adjusted EBITDA leverage ratio of 0.46x [2] - Despite a "B+" valuation grade indicating relative undervaluation compared to materials sector peers, Newmont's forward EBITDA multiple of 6.5x is higher than the median of 5.6x for metal and mining peers [2] Market Sentiment and Investment Opportunity - The market remains cautious about production and execution risks in 2024, particularly related to the Newcrest integration [2] - NEM's recent price action suggests a potential bear trap or double-bottom setup, indicating a possible long-term low [3] - The stock's relatively attractive valuation, solid balance sheet, and improved earnings growth profile in 2024 may attract dip buyers, creating a mean-reversion opportunity [3] Industry Challenges - Gold mining investors are concerned about costs, mine quality, and production shortfalls, which have contributed to the underperformance of gold mining stocks in 2023 [2] - The sector faces ongoing execution challenges, as reflected in the divergence between gold prices and gold mining stocks [2]

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DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) and Project C.U.R.E. announce a five-year agreement to deliver medical supplies and life-saving training for healthcare providers in developing countries and communities near Newmont mining operations. Under the agreement, Newmont commits to an annual contribution of $200,000 over the next five years, totaling $1 million. “Creating a positive impact on more than 10 million people globally, through our partnership with ...

Newmont Corporation (NEM) closed the most recent trading day at $34.51, making no change from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.61%. Elsewhere, the Dow saw a downswing of 0.82%, while the tech-heavy Nasdaq depreciated by 2.23%.Prior to today's trading, shares of the gold and copper miner had lost 15.64% over the past month. This has lagged the Basic Materials sector's loss of 6.01% and the S&P 500's gain of 3.28% in that time.The investment comm ...

In the latest trading session, Newmont Corporation (NEM) closed at $34.49, marking a +0.15% move from the previous day. This move lagged the S&P 500's daily gain of 0.53%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.19%.Shares of the gold and copper miner have depreciated by 18.74% over the course of the past month, underperforming the Basic Materials sector's loss of 7.42% and the S&P 500's gain of 2.48%.The investment community will be paying close attention to the earnings perfor ...

DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today announced the appointment of Peter Wexler as Chief Legal Officer. Peter will join Newmont’s Executive Leadership Team and be responsible for leading the company’s legal, compliance and regulatory affairs globally. Peter is an experienced legal and risk management leader with more than three decades of international knowledge in managing legal, risk, compliance, M&A, antitrust, litigation and corporate governance ...

Closeup of big gold nugget bodnarchuk Newmont Corporation (NYSE:NEM, TSX:NGT:CA) is a leading gold miner, and it operates in favorable mining jurisdictions which reduces potential risks for investors. It has operations in North America, Africa, Peru, Australia, and Latin America. Newmont is also known for its record of safety and for using sustainable practices. For many investors, this is the "go to" stock for gold exposure. This stock had a nice run from around the low $30 level in November and jumped ( ...

The latest trading session saw Newmont Corporation (NEM) ending at $34.58, denoting a -0.12% adjustment from its last day's close. This change lagged the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.The gold and copper miner's shares have seen a decrease of 16.44% over the last month, not keeping up with the Basic Materials sector's loss of 6.13% and the S&P 500's gain of 0.94%.Market participants will be closely following the financial results of ...

DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today announced that it will release its full year and fourth quarter 2023 operations and financial results, along with its 2024 guidance, on Thursday, February 22, 2024. Newmont will hold a conference call at 10:00 a.m. Eastern Standard Time (ET) and 4:00 p.m. ET, the same day, which will be available on the Company’s website. 10:00 a.m. ET Conference Call Details   Dial-In Number 833.470.1428 Intl Di ...

Newmont Corporation (NEM) closed at $40.23 in the latest trading session, marking a -0.27% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.41%. On the other hand, the Dow registered a gain of 0.58%, and the technology-centric Nasdaq increased by 2.2%.The gold and copper miner's shares have seen an increase of 3.22% over the last month, not keeping up with the Basic Materials sector's gain of 5.33% and outstripping the S&P 500's gain of 2.9%.Analysts and investors al ...