Analyst Update on Newmont! Our analysts expect the Fed to turn less hawkish by year-end, which should initiate a rally in gold stocks.
Read our analyst's insights on Newmont Corporation (NYSE: NEM) & Barrick Gold (NYSE: GOLD) :
• Q3 earnings were down 52% YoY on average due to higher cash costs and lower production.
• Barrick's cash costs were up 21% YoY to $8891/oz, while Newmont's costs were up 17% to $968/oz.
Analysts Projections:
• Analysts are expecting both companies to fall short of their 2022 production guidance, and exceed their cost guidance. Find out EPS and fair value estimates in the full report on researchfrc.com
• The US$ is expected to strengthen, and gold/gold stocks should pull back later in the week.
• Analysts believe NEM and GOLD have higher upside potential. Explore more in the full report!
Report link: https://www.researchfrc.com/senior-gold-producers-newmont-corporation-nyse-nem-barrick-gold-nyse-gold-expecting-a-rally-despite-tepid-outlook-for-miners/?utm_source=stockhouse.com&utm_medium=Referral&utm_campaign=stockhouse.com&utm_id=Newmont+Corporation+%28NYSE%3A+NEM%29+%26+Barrick+Gold+%28NYSE%3A+GOLD%29+
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