Company Performance - Newmont Corporation (NEM) closed at $74.40, with a +1.96% change from the previous day, outperforming the S&P 500's loss of 0.64% [1] - The stock has increased by 17.5% over the past month, significantly higher than the Basic Materials sector's gain of 4.61% and the S&P 500's gain of 1.91% [1] Upcoming Earnings - Analysts expect Newmont Corporation to report earnings of $1.27 per share, reflecting a year-over-year growth of 56.79% [2] - The consensus estimate for revenue is $4.92 billion, which represents a 6.75% increase from the prior-year quarter [2] Full Year Projections - For the full year, earnings are projected at $5.3 per share and revenue at $20.68 billion, indicating changes of +52.3% and +10.67% respectively from the prior year [3] Analyst Forecast Revisions - Recent revisions to analyst forecasts for Newmont Corporation are important as they reflect short-term business trends, with positive changes indicating analyst optimism [4] Zacks Rank and Performance - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), shows Newmont Corporation currently holds a Zacks Rank of 3 (Hold) [6] - Over the past month, the Zacks Consensus EPS estimate has increased by 3.87% [6] Valuation Metrics - Newmont Corporation has a Forward P/E ratio of 13.77, which is a premium compared to the industry average Forward P/E of 13.32 [7] - The company has a PEG ratio of 0.86, while the Mining - Gold industry average PEG ratio is 0.65 [7] Industry Context - The Mining - Gold industry is part of the Basic Materials sector and currently holds a Zacks Industry Rank of 77, placing it in the top 32% of over 250 industries [8]

Core Insights - Agnico Eagle Mines Limited (AEM) and Newmont Corporation (NEM) are leading companies in the gold mining sector, with diversified operations and portfolios, making them relevant for investors amid firm gold prices driven by global economic uncertainties and trade tensions [1][2]. Gold Market Overview - Gold prices have increased approximately 29% this year, reaching a record high of $3,500 per ounce on April 22, 2025, before settling around $3,400 per ounce [2]. - Central banks globally are accumulating gold reserves, influenced by geopolitical tensions and expectations of interest rate cuts, which are expected to support gold prices [2]. Agnico Eagle's Position - Agnico Eagle is focused on growth projects, including the Odyssey project and others, which are expected to enhance production and cash flows [4]. - The Hope Bay Project has proven and probable mineral reserves of 3.4 million ounces, contributing significantly to future cash flow [5]. - The merger with Kirkland Lake Gold has positioned Agnico Eagle as a high-quality senior gold producer with a strong pipeline of development projects [6]. - AEM reported operating cash flow of $1,845 million in Q2, a 92% increase from $961 million year-over-year, and free cash flow of $1,305 million, more than double the previous year's figure [7][8]. - The company reduced long-term debt by $550 million to $595 million and ended the quarter with a net cash position of $963 million [9]. - AEM offers a dividend yield of 1.2% with a five-year annualized dividend growth rate of 6.9% and a payout ratio of 27%, indicating a sustainable dividend [10]. Newmont's Position - Newmont has strengthened its portfolio through the acquisition of Newcrest Mining and a $3 billion divestiture program, enhancing liquidity and operational efficiency [12][14]. - The company is pursuing growth projects like the Tanami Expansion 2 and Ahafo North expansion, which are expected to drive revenue and profit growth [13]. - Newmont's liquidity at the end of Q2 was $10.2 billion, with free cash flow reaching $1.7 billion, a significant increase year-over-year [17]. - The company returned approximately $2 billion to shareholders through dividends and share repurchases and reduced debt by $1.4 billion [18]. - Newmont's long-term debt-to-capitalization ratio is around 18.8%, and it offers a dividend yield of 1.4% with a payout ratio of 20% [18]. Financial Performance and Valuation - Year-to-date, AEM stock has increased by 78.4%, while NEM stock has risen by 94.5%, compared to the Zacks Mining – Gold industry's increase of 82.3% [21]. - AEM is trading at a forward 12-month earnings multiple of 20.01, representing a 41.5% premium over the industry average, while NEM is at 13.74, below its five-year median [23][24]. - The Zacks Consensus Estimate for AEM's 2025 sales and EPS indicates growth of 30.6% and 64.1%, respectively, while NEM's estimates imply growth of 10.7% and 52.3% [26][27]. Investment Considerations - Both companies are well-positioned to benefit from strong gold prices, but AEM's higher earnings growth projections and healthier dividend growth rate suggest it may offer better investment prospects [28][29]. - AEM's lower leverage indicates lesser financial risks, making it a more favorable option for investors seeking exposure to the gold sector [29].

Core Viewpoint - After acquiring Newcrest Mining Ltd. for $15 billion in 2023, Newmont Corporation is exploring cost-cutting measures that may lead to significant layoffs due to rising operational costs [1][3]. Group 1: Acquisition and Expansion - The acquisition increased Newmont's gold mines to approximately 20 and expanded its copper operations, but it also resulted in sharply rising costs [1]. - Newmont's all-in sustaining costs for gold reached a historical high by early 2025, significantly eroding record profits from soaring gold prices [1]. Group 2: Cost-Cutting Measures - Newmont has requested management to control costs at the lowest industry levels, aiming to reduce the cost per ounce of gold by about $300, which represents a 20% decrease [1][3]. - Although specific layoff numbers are not disclosed, sources indicate that thousands of employees may be affected as part of the cost-cutting strategy [3]. - The company has initiated a cost and productivity enhancement plan, with organizational restructuring being one of several measures to reduce operational costs [3]. Group 3: Financial Performance and Market Context - The surge in gold prices, reaching a peak of $3,500 per ounce in April, has led to significant gains for large mining companies, with Newmont's stock price increasing by 95% this year [3]. - Over the past five years, Newmont's all-in sustaining costs have risen by over 50% due to increases in energy, labor, and raw material prices, with its second-quarter costs being nearly 25% higher than those of lower-cost producers like Agnico Eagle Mines [3]. - Despite stating that costs are within expected ranges for the year, an increase is anticipated in the second half [3]. Group 4: Challenges Post-Acquisition - The current cost challenges faced by Newmont are primarily attributed to the acquisition of Newcrest, with specific mines like Lihir in Papua New Guinea and Cadia in Australia struggling with cost control [4]. - Analysts note that Newcrest's assets are in difficult phases of their lifecycle, requiring substantial maintenance capital expenditures to catch up on long-term capacity due to previous underinvestment [4].

Newmont, the world’s largest gold miner, is studying significant job cuts as part of a cost-saving plan, sources say https://t.co/5C03hSFuxK ...

Core Insights - The article highlights the investment strategies and achievements of Paul Franke, a seasoned investor with 39 years of trading experience, emphasizing his contrarian stock selection style and the development of a system called "Victory Formation" for identifying stocks based on supply/demand imbalances [1] Group 1: Investment Strategies - Paul Franke suggests using 10% or 20% stop-loss levels on individual stock choices to manage risk effectively [1] - A diversified approach is recommended, advocating for ownership of at least 50 well-positioned stocks to achieve consistent outperformance in the stock market [1] - The "Bottom Fishing Club" articles focus on identifying deep value candidates or stocks that are experiencing significant upward technical momentum reversals [1] Group 2: Analytical Approach - Franke employs daily algorithm analysis of both fundamental and technical data as part of his investment strategy [1] - The "Volume Breakout Report" articles discuss positive trend changes that are supported by strong price and volume trading actions [1]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The current marginal growth pattern of global silver shows "limited primary growth + increased by - product output + regional disturbances." The short - term supply elasticity is weak, and the price is more sensitive to demand and financial variables [42]. - Recent dovish signals from Fed officials strengthen the downward expectation of the forward real - interest - rate curve. The financial attribute premium of silver is supported. In the benchmark scenario, the view of "declining gold - silver ratio, silver outperforming gold, and price rising with high volatility" is maintained [43]. 3. Summary according to the Table of Contents 3.1 Recent Market Background and Summary of Major Silver Mining Enterprises - Major silver producers generally have the characteristics of "tightening primary ore increment and relying on by - products for silver increment." Pure silver ore increment is limited, and global new supply more depends on by - product recovery from copper/zinc projects. The supply side continues to feature "low elasticity + regional disturbances" [2]. 3.2 Hedging Strategy Suggestions - At the macro level, the co - existence of global growth slowdown and the bottom - up repair of the manufacturing industry, along with the rising market expectation of the Fed's moderate easing within the year and the high - level slowdown of real interest rates, support the main line of silver's "financial elasticity + stable industrial demand" [3]. 3.3 Global Major Silver Producers' Situation 3.3.1 Fresnillo plc - In 2024, its silver equity production was 56.31 million ounces, basically flat with 2023. In 2025 H1, the silver equity production was 24.9 million ounces, a year - on - year decline of about 8.30%. The company maintains the annual production guidance of 49 - 56 million ounces [8][9]. 3.3.2 KGHM Polska Miedz S.A. - In 2024, its silver production was 1341 tons, a year - on - year decline of 6%. In 2025 H1, it was about 657.2 tons, a year - on - year decline of 3%. The Sierra Gorda mine in Chile is expected to expand in mid - 2025, which may increase copper and silver production [14][15]. 3.3.3 Newmont Corporation - In 2024, its silver production was about 33 million ounces, a year - on - year increase of 83%. In 2025 H1, it was about 14 million ounces, a year - on - year decline of 17.6%. The 2025 annual production guidance is about 28 million ounces, a year - on - year decline of 15.21% compared with 2024 [21]. 3.3.4 Pan American Silver Corp. - In 2024, its silver production was 21.061 million ounces, a year - on - year increase of 3.05%. In 2025 H1, it was 10.097 million ounces, a year - on - year increase of 5.44%. The main increments come from La Colorada and El Peñon [23][24]. 3.3.5 Southern Copper Corporation - In 2024, its silver production was 20.983 million ounces, a year - on - year increase of 14%. In 2025 H1, it was 11.43 million ounces, a year - on - year increase of 14.6%. The 2025 annual guidance is 23 million ounces, a 9% increase compared with 2024 [30][31]. 3.3.6 Glencore plc - In 2024, its silver production was 19.286 million ounces, a year - on - year decline of 4%. In 2025 H1, it was 9.097 million ounces, basically flat year - on - year. The decline in Collahuasi is offset by the increase in Antamina, Kazzinc, and Kidd [33][34]. 3.4 Gold - Silver Ratio Review - Since 1980, the gold - silver ratio has generally shown a long - cycle pattern of "high - level fluctuation - periodic convergence - expansion again." The ratio converges when "loose policy + industrial recovery + re - inflation" resonate, and expands in the stage of "tightening/stagflation + declining risk appetite" [39]. 3.5 Summary and Hedging Suggestions - The short - term supply elasticity of silver is weak. If the Fed continues to compress the real - interest - rate spread and the economy has a "moderate slowdown," silver will benefit from the dual - drive of "metal financial attribute + industrial buffer" [42][43].

Core Insights - Newmont Corporation (NEM) is actively improving its leverage profile by reducing debt significantly, retiring $372 million in the second quarter and ending with net debt of $1.422 billion, down from $3.221 billion in the previous quarter [1][7] - The company's strong free cash flow generation, which surged nearly threefold year over year and increased by 42% from the prior quarter to $1.7 billion, has supported this deleveraging effort [2][7] - NEM is balancing its deleveraging strategy with the integration of the Newcrest acquisition and asset streamlining through strategic non-core divestments, while maintaining a strong cash flow generation [3] Industry Comparison - Kinross Gold Corporation (KGC) has also improved its leverage profile, reducing net debt to approximately $100 million from $540 million in the previous quarter, with a second-quarter free cash flow increase of roughly 87% year over year [4] - Agnico Eagle Mines Limited (AEM) focused on debt reduction, decreasing long-term debt by $550 million to $595 million, while ending the quarter with a net cash position of $963 million, allowing for funding of growth projects and shareholder value [5] Market Performance - NEM shares have increased by 85.4% year to date, outperforming the Zacks Mining – Gold industry's rise of 68%, largely driven by a rally in gold prices [6][7] - The Zacks Consensus Estimate for NEM's 2025 earnings indicates a year-over-year rise of 51.4%, with EPS estimates trending higher over the past 60 days [8] - NEM is currently trading at a forward 12-month earnings multiple of 13.12, slightly below the industry average of 13.20, and carries a Value Score of B [9]

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Core Insights - Newmont Corporation's shares have increased by 85.4% year-to-date, driven by a rise in gold prices due to trade and geopolitical uncertainties, along with strong earnings performance [1][6] - The stock has outperformed the Zacks Mining – Gold industry's increase of 72.2% and the S&P 500's rise of 9.6% [1] - Newmont's peers, including Barrick Mining, Agnico Eagle Mines, and Kinross Gold, have seen stock increases of 56.5%, 70.7%, and 109.1% respectively [1] Financial Performance - Newmont's liquidity stands at $10.2 billion, with free cash flow reaching $1.7 billion, supporting dividends and share repurchases [6][12] - The company has reduced debt by $1.4 billion since the beginning of 2025 and has authorized an additional $3 billion share repurchase program [12] - Newmont's earnings estimates for 2025 have been revised upward, with a projected growth of 51.4% year-over-year [17] Growth Strategy - Newmont is investing in growth projects such as the Tanami Expansion 2 in Australia and the Ahafo North expansion in Ghana, aimed at increasing production capacity [9] - The acquisition of Newcrest Mining has enhanced Newmont's portfolio, expected to deliver $500 million in annual run-rate synergies [10] - The company has divested non-core assets, generating approximately $470 million in cash proceeds, and anticipates $3 billion from its 2025 divestiture program [11] Market Conditions - Gold prices have increased by roughly 27% this year, reaching a record high of $3,500 per ounce in April 2025, currently hovering above $3,300 [13][15] - The demand for gold is supported by central bank purchases and geopolitical tensions, which are expected to sustain favorable bullion prices [15] Valuation Metrics - Newmont is trading at a forward price/earnings ratio of 13.12X, slightly below the industry average of 13.45X [19] - The company has a Value Score of B, indicating a competitive valuation compared to peers [19] Investment Outlook - Newmont presents a strong investment case with a robust portfolio, solid financial health, and rising earnings estimates, making it a favorable choice for investors looking to capitalize on the gold market [22]

Core Insights - The article emphasizes the importance of liquidity in assessing a company's ability to meet debt obligations and suggests that companies with adequate liquidity can drive business growth and deliver higher returns [1][2][3] Group 1: Liquidity Measures - Current Ratio: A measure of current assets relative to current liabilities, with an ideal range of 1-3 indicating a healthy balance [4] - Quick Ratio: Indicates a company's ability to pay short-term obligations, with a desirable ratio of more than 1 [5] - Cash Ratio: The most conservative measure, focusing on cash and cash equivalents relative to current liabilities, with a ratio greater than 1 being desirable but potentially indicating inefficiency [6] Group 2: Screening Parameters - Asset Utilization: A measure of efficiency, calculated as total sales over the last 12 months divided by the average total assets, with a higher ratio than the industry average indicating efficiency [7] - Growth Score: A proprietary measure added to ensure that liquid and efficient stocks have solid growth potential, with a score of A or B indicating better performance [8] Group 3: Stock Recommendations - The New York Times Company (NYT): Reported second-quarter 2025 adjusted earnings per share of 58 cents, exceeding estimates, with total revenues of $685.9 million, a 9.7% year-over-year increase [11][12] - Dillard's, Inc. (DDS): Reported second-quarter 2025 net sales of $1.5 billion, up 1.6% year over year, with adjusted earnings per share of $4.66, surpassing estimates by 23% [14][15] - Newmont Corporation (NEM): Achieved second-quarter revenues of approximately $5.32 billion, a 20.8% increase from the prior year, driven by higher gold prices [17][18] - Frontdoor, Inc. (FTDR): Reported revenues of $617 million for the last quarter, a 14% year-over-year increase, with a gross margin expansion of 130 basis points to 58% [20][21]