Why Newmont Corporation (NEM) is a Top Value Stock for the Long-Term

Company Overview - Newmont Corporation is one of the world's largest gold producers with active mines in Nevada, Peru, Australia, and Ghana [7] - As of December 31, 2023, Newmont had gold mineral reserves exceeding 135.9 million ounces [7] - The company's attributable gold production for 2023 was 5.5 million ounces [7] Investment Ratings - Newmont is rated 2 (Buy) on the Zacks Rank, indicating a favorable investment outlook [7] - The company has a VGM Score of A, reflecting strong performance across value, growth, and momentum metrics [7] Valuation Metrics - Newmont's Value Style Score is B, supported by a forward P/E ratio of 17.02, making it attractive for value investors [7] - Recent analyst revisions show four analysts have increased their earnings estimates for fiscal 2024, with the Zacks Consensus Estimate rising by $0.22 to $3.10 per share [7] - The company has an average earnings surprise of 19.2%, indicating a history of exceeding earnings expectations [7] Investment Strategy - Stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B are recommended for maximizing returns [6] - Newmont's solid Zacks Rank and high Value and VGM Style Scores position it as a strong candidate for investors [8]