#2 - Newmont Corporation (NYSE:NEM)
When looking at precious metals stocks in general, and gold stocks in particular, Newmont Corporation (NYSE:NEM) is frequently near the top of the list. One reason that the company makes this list is that it managed to effectively mitigate the effects from the pandemic. This is one reason that the company posted a blowout fourth-quarter earnings report. Earnings more than doubled year-over-year (YOY) and revenue was up nearly 14% YOY.
And like many mining stocks, Newmont Corporation offers a dividend and managed to increase the dividend in the last quarter. This is another testament to how well the company managed the pandemic.
After falling nearly 14% in the first two months of 2021, NEM stock has rallied and recovered almost all of its losses. The company is expected to report earnings in early May. A strong report will be a bullish signal for the stock.
Newmont has nearly 80% institutional ownership and has a consensus buy rating and price target that suggests an upside for the stock of nearly 18%. The company is currently rated by 13 analysts.
About Newmont
Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.
Read More - Current Price
- $41.40
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $48.35 (16.8% Upside)
