Newmont Stock Is Interesting, but Here's What I'd Buy Instead​

Core Insights - Gold prices have surged from under $2,000 per ounce in 2021 to $4,647 today, more than doubling in value [1] - Newmont (NYSE: NEM) has outperformed gold with a 182% increase over the last 12 months, while Wheaton Precious Metals (NYSE: WPM) has achieved a 132% gain, making it a compelling alternative for investors seeking gold exposure [2][6] Company Analysis - Newmont operates in a capital-intensive gold mining industry, requiring significant investment for projects, typically ranging from $100 million to $150 million to start [4][5] - Newmont's current financials show a net income margin of 33% and a three-year revenue compound annual growth rate (CAGR) of 21%, with debt at $5.65 billion, nearly equal to its cash reserves of $5.97 billion [7] - Wheaton Precious Metals employs a streaming model, purchasing gold and silver from other mining operations at set prices, allowing it to benefit from rising gold prices without the associated risks of mining [8]