NEWMONT MINING $50.99 (New York symbol NEM; SI Rating: Average), is one of the world’s largest gold producers, with major operations in the United States, Canada, Peru, Australia, Indonesia and Ghana.
Newmont produced 5.3 million ounces of gold in 2007. It will probably produce the same amount of gold in 2008 as it continues to work out problems at certain mines. Higher costs for parts and labour will also push operating costs up this year. However, a new on-site power plant should cut costs at its operations in Nevada. The 2009 start-up of its new Boddington gold mine in western Australia should also expand Newmont’s long-term profits, making it attractive for gold investing.
Newmont’s 2008 earnings should increase to $2.18 a share, for a p/e of 23.9. It also trades at 13.5 times its projected cash flow of $3.85 a share. That’s high, but golds always trade at a premium to the market. The $0.40 dividend yields 0.8%.
For aggressive investors who want…
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