Newmont is our top gold

Article Excerpt

NEWMONT CORP. $59.73, remains a buy for long-term growth and as a hedge against inflation. The stock (New York symbol NEM; Shares outstanding: 803.4 million; Market cap: $48.1 billion; TSINetwork Rating: Average; Dividend yield: 2.7%; www.newmont.com) continues to expand its production following COVID-19 disruptions and restrictions in the early part of 2020. As a result, it expects to produce 6.5 million ounces of gold in 2021, up 8.3% from 6.0 million ounces this year. Newmont also expects its annual gold output will rise to between 6.2 million and 6.7 million ounces for both 2022 and 2023. Production should then improve to between 6.5 million and 7.0 million ounces in 2024 and 2025. At the same time, Newmont continues to do a good job lowering its costs. In fact, it now expects its total sustaining costs will drop from $970 an ounce in 2021 to between $800 and $900 an ounce in 2025. Newmont Corp. is a buy. buy…