Newmont Corporation (NYSE: NEM) (TSX: NGT) reviewed 11-10-2020
(All figures in USD)
Market Cap: $52.12 Billion Share Price: $64.89
Shares outstanding: 803,000,000
Cash and cash equivalents: $4.83 Billion as of 30 Sept 2020
Total Debt: $6.030 Billion Net debt: $1.849 Billion
Current operations: Yes
Insider holdings: Nil Institutional: 1500 institutions own about 85%
Website: newmont.com
CEO: Tom Palmer HQs: Colorado, US
Newmont is a Large-Cap Major gold producer with operations and/or assets in the US, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana
Newmont is the #1 gold producer worldwide with an Annual production profile of 6-7 Million oz
The company reported Q3 earnings of $0.86 per diluted share on revenues of $3.17 Billion
Cash from operations was reported at $1.6 Billion
Free cash flow was a record $1.3 Billion in the quarter
AISCs are consolidated across all regions at $1015-1020 per oz in 2020
Newmont pays a dividend of $1.60 yielding 2.42%
Bottom line:
- Some ask why to buy the ETF GDX, which holds some losers, and pay a management fee when you can just as easily buy NEM and GOLD, which are hugely successful