5. Newmont Corporation (NYSE:NEM)
Average Upside Potential: 21.66%
Number of Hedge Fund Holders: 69
Top-tier global mining company, Newmont Corporation (NYSE:NEM) continues to solidify its position with a diverse portfolio encompassing gold, copper, silver, zinc, and lead. With its headquarters in Denver, Colorado, the company has been streamlining its asset base to maximize long-term value creation through operation efficiency and strategic portfolio management.
Newmont Corporation (NYSE:NEM) concluded its fourth quarter, which ended December 31, 2024, by recording an annual production output of 6.8 million ounces of gold and surpassing 150,000 tons of copper. Backed by its significant assets such as Peñasquito in Mexico, Cerro Negro in Argentina, and Brucejack in Canada, silver continues to play a vital role in its operations. The company’s flagship polymetallic mine, Peñasquito, contributes 312.6 million ounces of silver reserves to Newmont’s total silver reserves of 530 million ounces. Peñasquito is anticipated to record growth in production for silver, lead, and zinc due to the upgradation of mining operations at the Chile Colorado pit in 2026, further bolstering the company’s productivity for the years to come.
Newmont Corporation (NYSE:NEM) has liquidated six non-core operations yielding up to $4.3 billion in pre-tax proceeds, strengthening its focus on Tier 1 assets. These steps boosted the company’s balance sheet, allowing it to end 2024 with $3.6 billion in cash and $7.7 billion in total liquidity. Its outstanding financial and strategic position is demonstrated by an increase of 14.78% in its shares, year-to-date. By ensuring lasting sustainability and development across its key mining jurisdictions, Newmont continues to stay committed to disciplined capital allocation.
Newmont Corporation (NYSE:NEM) is forecasted to optimize its gold and silver production while ensuring cost discipline and developing key projects at Peñasquito and Tanami. The company remains a compelling investment in the silver industry due to its improving financial position, strong asset base, and ongoing expansion efforts.
