Newmont Corp Chess Depository Interest
NEM: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$52.00 | Cjyv | Gmtypnlg |
Commodity Price Update Q2 2024: Gold and Thermal Coal Companies Remain Among the Cheapest
Iron ore prices are lower on concerns over China steel demand due to its struggling property market and weak infrastructure spending. However, gold prices are up on optimism over peak interest rates, driving a 2% rise in our estimate for no-moat Newmont, to USD 51. It remains the cheapest miner we cover, trading 27% below fair value.