Newmont: $100 Oil Weighs, Gold Falls, But Profit Trends Are Sublime (NYSE:NEM)

Despite a 20% drop from its January high, Newmont Corporation (NEM) is considered a buy, having reported record Q1 earnings with non-GAAP EPS of $2.90 and $7.3 billion in revenue, alongside strong free cash flow and a new $6 billion buyback program. The company’s valuation appears attractive, with an intrinsic value estimated at $147 based on normalized EPS and P/E, although risks like lower gold prices and higher oil costs remain. Technically, while shares are trending lower, they are holding support, and a rising 200-day moving average suggests an underlying bullish control.

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