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Opinions The Panic-Proof Portfolio (Stockchase Research)
Newmont GoldcorpNGT.TOTOP PICKAug 18, 2020
Stock price when the opinion was issued
As of Sep 24, 2025. Market Open.
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Largest gold producer in the world. Global. Expects synergies from latest acquisition. Balance sheet still in good shape. Well run. A go-to, if you like gold. But look at the chart -- owning gold over the last 20 years has been a tough game.
If you want a miner, go with the copper miners, better risk/reward, part of the next ESG evolution/revolution of where the world is going.
Takeover of Newcrest is huge, propelling it to be the largest in the world at what it does. Exposure to all the metals, and especially to copper with the acquisition. Operates primarily in relatively low-risk areas. Attractive opportunity for some gold exposure during uncertain times such as now. Yield is 4.14%.
(Analysts’ price target is $70.61)
Michael Sprung
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Premium contentABX-T owns the majority of the joint venture and NGT-T owns about 40%. This is a deal that should have happened a long time ago. You had all these ounces that could be treated at a plant next door but you could not do that and it was not economic to do so at another plant. It shows some sanity to generalist investors. ABX-T did the best out of it.
Stockchase Research Editor: Michael O'Reilly This is a bit of a defensive holding, in the event the market continues to push gold higher -- as many analysts believe could be the case. Gold stocks have rallied as of late with the investment of ABX by Warren Buffet. NMC pays a nice dividend and with a payout ratio of only 14% of cash flow, it should be safe. Cash flow from operations were recently reported up 120% from last year and that goes directly to the bottom line. The recent pullback from highs near $95 is a good opportunity to enter here. Analyst price targets are over $103 -- giving over 15% upside. We would trade this with a $83 stop loss. Yield 1.46% (Analysts’ price target is $103.65)