Newmont Corp Chess Depository Interest
NEM: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$98.00 | Tzq | Pdxzgxwb |
Raising Newmont's Fair Value Estimate Modestly by 2% on Higher Gold Prices; Shares Undervalued
Business Strategy and Outlook
Newmont is the world’s largest gold miner, with a portfolio reflecting three major deals in recent years. First, it acquired fellow gold producer Goldcorp for a relatively mild premium in 2019. Not only did it avoid paying a high price, Newmont also extracted better performance at mines where Goldcorp struggled.