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Sell Newmont Mining, Limit of 70.20, Analyst Says

March 7, 2022 (Investorideas.com Newswire) Adrian Day has been promising a few sells among the stocks on his list for some months now, to offset recent new buys and make room for new buys. Today, we have the first of those.

Newmont Corp. (NEM:NYSE), the largest gold mining company in the world, has experienced a good run recently, form under $55 in mid-December, and then up 6% in the last three days days.

We prefer the other two largest gold miners, Barrick and Agnico.

Barrick, in particular, is better than Newmont on virtually every valuation and other metric -cash flow, book value, assets and so on – with only two exceptions: Newmont has a better jurisdictional risk profile. And it definitely exceeds Barrick on ESG virtue signaling.

No doubt, if gold continues to move up over the next few years, Newmont will also do well.

So this is not a “sell at any cost”.

If you have plenty of cash and are already fully exposed to Barrick and Agnico, then by all means hold on.

We are selling, as above, to make room for recent and future new buys.

We want to get this out now while the market is still open. More later.

Originally published on Mar. 3, 2022.

Adrian Day, London-born and a graduate of the London School of Economics, is editor of Adrian Day’s Global Analyst. His latest book is “Investing in Resources: How to Profit from the Outsized Potential and Avoid the Risks.”

Disclosures

1) Adrian Day: I, or members of my immediate household or family, may own securities of the following companies mentioned in this article: Newmont. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Funds controlled by Adrian Day Asset Management, which is unaffiliated with Adrian Day’s newsletter, hold shares of the following companies mentioned in this article: All. I determined which companies would be included in this article based on my research and understanding of the sector.

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Adrian Day’s Disclosures:

Adrian Day’s Global Analyst is distributed by Investment Consultants International, Ltd., P.O. Box 6644, Annapolis, MD 21401. (410) 224-8885. Publisher: Adrian Day. Owner: Investment Consultants International Ltd. Staff may have positions in securities discussed herein. Adrian Day is also President of Global Strategic Management (GSM), a registered investment advisor, and a separate company from this service. In his capacity as GSM president, Adrian Day may be buying or selling for clients securities recommended herein concurrently, before or after recommendations herein, and may be acting for clients in a manner contrary to recommendations herein. This is not a solicitation for GSM. Views herein are the editor’s opinion and not fact. All information is believed to be correct, but its accuracy cannot be guaranteed. The owner and editor are not responsible for errors and omissions. (C)2021. Adrian Day’s Global Analyst. Information and advice herein are intended purely for the subscriber’s own account. Under no circumstances may any part of a Global Analyst e-mail be copied or distributed without prior written permission of the editor. Given the nature of this service, we will pursue any violations aggressively.

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