TradingMavericks

NEM : RESET / POSITION TRADE / HEDGE

Long
NYSE:NEM   Newmont Corporation
Newmont Mining just came off a record quarter in Q3 with free cash flow of ~$1.3 billion, and increased its dividend by 60% to $1.60 per share annually.

Despite these bullish developments, the stock has slumped with the rest of the sector, down more than 20% from its August highs.

This correction has left the stock trading below 13x FY2021 annual EPS estimates, with a dividend that's 70% higher than that of the S&P 500 .

Therefore, if we see any further weakness below $57.25, I would view this as a low-risk buying opportunity for long-term investors looking for steady free cash flow and yield.

https://seekingalpha.com/article/4393248...
Trade closed: stop reached

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