Newmont: 3 Reasons For Upside After Overcorrection
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Newmont Corporation's stock has declined, presenting a buying opportunity. Despite Q3 2024 earnings falling short, the company's outlook and gold prices remain positive. Market multiples suggest potential price doubling by 2025, though gold price risks exist.
November 29, 2024 | 3:15 pm
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Newmont Corporation's stock has declined, offering a buying opportunity. Despite missing Q3 2024 earnings expectations, the company's outlook and gold prices are positive, with potential for price doubling by 2025.
The article suggests that Newmont's stock has overcorrected, making it an attractive buy. Although Q3 2024 earnings were below expectations, the overall financial health and future outlook are strong. Market multiples indicate a potential doubling of the stock price by 2025, which is a significant upside. However, investors should be cautious of risks related to gold prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100