Long Position on NEM @ $66.50 on 11/4/2020 (Fundamentals)

Newmont Corporation (NEM) engages in the production and exploration of gold, copper, silver, zinc, and lead.

The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana.

As of December 31, 2019, it had proven and probable gold reserves of 100.2 million ounces and land position of 68,300 square kilometers.

The company has a strategic alliance agreement with Kirkland Lake Gold Ltd. to assess regional exploration opportunities around the company's Timmins properties and Kirkland's Holt Complex in Ontario, Canada.

Newmont Mining reported 3rd Quarter September 2020 earnings of $0.86 per share on revenue of $3.2 billion. The consensus earnings estimate was $0.79 per share on revenue of $3.2 billion. Revenue grew 16.8% on a year-over-year basis.

As a result of the uncertain United States Presidential election, this stock should be a safe growth stock regardless of the outcome of the election.

Entry Point: $66.50

Trading Range: $22.00 to $100.39

Stop Loss: $63.20

Target Price: $73.00

Updates

12/30/2020 1:01:12 PM

Closed at $60

Position closed on 12/30/2020 at price of $60.00 with a -9.77% loss in 56 days.

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