Newmont (NYSE: NEM). The King. They just keep pumping out cash flow. $1.6 billion in Q3 alone. And gold keeps rising. Driving cash flow higher. What more could you possibly want?
Well, if you’re the market.. You want better forward guidance, which is what all the talking heads are blaming Newmont’s fall in the markets after the release of their Q3 financial results. And if we’re being honest with ourselves, despite free cash flow being $1.6 billion, it was not a new record for the company, with Q2 free cash flow higher – despite a lower average realized gold price in that quarter.
So what happened? Lets dive in.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
