Australian gold mining: Boon or bubble? UBS analysts weigh in [Yahoo! Finance]
Newmont Corporation (NEM)
Last newmont corporation earnings: 2/20 06:55 am
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Source: Yahoo! Finance
The note comes as most gold miners have lowered their production expectations through FY24, setting expectations at the lower end of guidance, which reduces risk in the upcoming June quarter updates. While UBS remains optimistic about the sector due to bullish gold price predictions, expectations for volume growth, productivity gains and the winding down of the capital expenditure cycle, they also expressed concerns following the downgrade of Evolution Mining Ltd (ASX:EVN), which casts doubt on the sector's seemingly promising outlook. The analysts ran a scenario which assumes no further increase in gold prices (currently at approximately US$2,350/oz), a 10% increase in operating expenses, and a 30% increase in capital expenditure. This scenario was inspired by the recent EVN update. ??Track your favourite companies with InvestingPro! Check out our Mid-Year Sale and receive over 50% off!?? ?? Stand out in the investment world and boost your earnings with InvestingPro! Check o
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- Newmont Co. (NYSE: NEM) had its price target raised by analysts at Bank of America Co. from $49.00 to $50.00. They now have a "buy" rating on the stock.MarketBeat
NEM
Earnings
- 4/25/24 - Beat
NEM
Sec Filings
- 6/28/24 - Form 8-K
- 5/8/24 - Form 3
- 5/2/24 - Form 4
- NEM's page on the SEC website