Newmont Corp Chess Depository Interest
NEM: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$96.00 | Stkxt | Dwsyrdqd |
Newmont: Shares Remain Undervalued
Despite rising 43% from five-year lows in February 2024, we think shares in no-moat Newmont remain materially undervalued, trading at a 17% discount to our unchanged USD 51 per share fair value estimate. We think the market expects weak production performance and inflated unit costs to continue, affecting margins.