Hedge your inflation risk with Newmont

Article Excerpt

Gold prices are up about 5% since the start of 2022 due to rising inflation and uncertainty caused by the war in Ukraine. We feel the best way to profit from higher gold prices is to buy high-quality producers like Newmont. Most of its mines are in politically stable countries, and its dividend is linked to the price of gold. NEWMONT CORP. $72 is a buy for long-term growth and a hedge against inflation. The company (New York symbol NEM; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 793.7 million; Market cap: $57.1 billion; Price-to-sales ratio: 4.8; Dividend yield: 3.1%; TSINetwork Rating: Average; www.newmont.com) is the world’s largest gold producer. It also produces copper, silver, lead and zinc. As of March 31, 2022, its proved and probable gold reserves totalled 96 million ounces. Newmont’s mines are in North America (36% of its gold reserves), South America (33%), Australia (19%), and Africa (12%). The company took its current form in April 2019, when Newmont Mining acquired Goldcorp Inc…