Newmont Corporation (NEM) is a gold company and a producer of copper, zinc, lead, and silver. The Company’s portfolio of assets, prospects and talent is anchored in mining jurisdictions in Africa, Australia, Latin America and Caribbean, North America, and Papua New Guinea
NEM has been a large holding of MPC as we have been bullish Gold and Gold miners. We recently suggested trimming 1/3 of the NEM holding for a profit and switching that allocation to DFND. NEM has fallen back to the $76 area and with Moody’s downgrading the credit rating of the US government debt, this should signal a low point for Gold and thus a good area to re-buy NEM
Trade Plan
Buy Newmont (NEM) up to $81
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.