Newmont Mining - Record High Gold Prices Create Strong Outlook!
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Business drivers: Newmont Mining (NEM) operates a global portfolio of mines, including Nevada Gold Mines (USA), Pueblo Viejo (Dominican Republic), Peñasquito (Mexico), Yanacocha (Peru), and Cerro Negro (Argentina). With comparatively low production costs averaging nearly $1,200/ounce, Newmont Mining enjoys high margins compared to its competitors, which is currently promising record results for the gold company thanks to record gold prices exceeding $3,700/troy ounce. On September 19, Newmont Mining divested its stake in Canadian gold producer...
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