Newmont is our top gold

Article Excerpt

NEWMONT CORP. $62.11, remains a buy for long-term growth and as a hedge against inflation. The company (New York symbol NEM; Shares outstanding: 797.4 million; Market cap: $48.9 billion; TSINetwork Rating: Average; Dividend yield: 3.5%; www.newmont.com) became the world’s largest gold producer in 2019 when it acquired rival gold producer Goldcorp Inc. for $10.0 billion. Newmont continues to expand its production following COVID-19 disruptions in 2021. As a result, it expects to produce as much as 6.5 million ounces of gold in 2022. That’s up 8.3% from 6.0 million ounces in 2021. The mining giant offers you a great way to prosper from the likely rise of precious metal prices—even amid lingering coronavirus uncertainty. That economic volatility should, in fact, boost demand for gold as an investment, especially if huge government stimulus spending globally spurs inflation and sends investors seeking gold as a “store of value.” In addition, Newmont pays a high dividend that is linked to the price of gold, Newmont Corp. is…