NEWMONT MINING $21.71 (New York symbol NEM; Shares outstanding: 498.9 million; Market cap: $11.0 billion; TSINetwork Rating: Average; Dividend yield: 0.5%; www.newmont.com) is the world’s second-biggest gold producer after Barrick Gold (symbol ABX on Toronto).
Newmont has mines in North America, South America, Australia, New Zealand, Indonesia and Africa.
The company’s cash flow per share fell 5.0% in 2014, to $3.45 from $3.63 in 2013. Aggressive cost-cutting failed to offset a 10% decline in realized gold prices.
Newmont’s gold output should rise to 5.3 million ounces this year from 5.15 million in 2014. Copper output should also jump, as political issues stalling mining at its Batu Hijau mine in Indonesia are now resolved.
The stock trades at just 5.8 times this year’s forecast cash flow of $3.75 a share. However, like most gold firms, Newmont’s shares will need a gold-price recovery to move significantly higher.
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