Reported 4 months ago
In this article, Jeff Muhlenkamp, manager of Muhlenkamp Fund, reveals Newmont (NEM) as his top trade pick. The world's largest gold miner is leveraged to rising gold prices and has an optimistic outlook with potential profit margin improvements, synergies from Newcrest Mining acquisition, and plans to reduce debt and return capital to shareholders through dividends and share repurchase program. Consensus estimates predict strong free cash flow for 2024 and 2025, but risks include potential declines in gold prices, unrealized synergies, increased mining costs, or mine closures.
Source: YAHOO