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Will Newmont Mining Corp (NYSE:NEM) Stock Benefit From Strong Gold And Copper Prices?


Newmont Mining Corp (NYSE:NEM) is a gold producer, which is engaged in the acquisition, exploration and production of gold and copper properties in United States, Australia, Ghana, Peru, and Suriname. The company was founded by William Boyce Thompson on May 2, 1921 and is headquartered in Greenwood Village, Colorado, USA. 

According to a September 15, 2017 Trustablegold.com report, “Danske Bank forecasts a gold price of US $1,250 in the fourth quarter of 2018.”

Newmont Mining Corp (NYSE:NEM) is the world´s second largest producer of gold, with reasonably low operating costs of around $943/oz (AISC) for Gold, as seen below.




NEM Stock could also benefit from the strongest copper prices seen in four years. Copper is currently trading above $3.00 a pound, As seen below, Newmont Mining has reduced their all-in-sustaining-costs (AISC) for copper down to a $1.64.





2017 PE is 30.4, and 2018 PE is 27.4. Net profit margins for 2017 are forecast to be 8.86% and 9.88% in 2018. Company debt is $860 million. Dividend yield is 0.65%. Analyst consensus estimates are for a target price of $42.69, with an outperform rating. I rate Newmont Mining Stock a hold, as I see the stock being a bit expensive at this time.