Newmont Corporation is one of the most popular stocks among billionaires according to Insider Monkey. Could now be the time to take advantage of a slight fall in gold prices?
The gold price has taken a slight dip in the last five days following the announcement of tariffs by the US Government, sliding below $US3000 per ounce on Monday.
Newmont’s share price is currently down 3.35 per cent over the past five days but is still up 23.62 per cent in 2025. The company is backed by major institutions including Vanguard Fiduciary Trust, BlackRock Advisors and State Street Corp.
Now might be the time to invest in the company with gold likely to continue its run, being labelled the “safe” asset as the commodity price regularly hits all-time highs.
Newmont has recently completed its $US4.3 billion ($6.7 billion) divestment program, divesting mines and projects that it doesn’t consider to be ‘Tier 1’ assets.
“Newmont has solidified its position as the gold industry’s leader with the highest concentration of Tier 1 assets, reserves and resources,” Newmont president and chief executive officer Tom Palmer said.
In a bid to further grow its Tier 1 assets, Newmont plans to spend approximately $250 million on exploration activities at its managed operations.
The company’s 2025 production guidance is expected to be approximately 5.9 million gold ounces, including 5.6 million ounces from its Tier 1 portfolio.
Newmont expects its gold all-in sustaining cost (AISC) to be $US1630 per ounce for 2025, including production from non-core assets for the first quarter of 2025.
”With the gold price predicted to remain strong and the proceeds from our divestiture program expected to materialise during the first half of 2025, we expect our balance sheet and liquidity remains robust,” Newmont president and chief executive officer Tom Palmer said.
“This year we are focused on continuing to improve the business across our safety, costs, and productivity performance.
For Australian investors, Newmont offers a rare combination of billion-dollar backing, operational scale and long-life domestic assets.
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