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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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World's largest gold miner. She continues to be bullish on gold at these prices. World-class assets. Gold's price rise could lift margins if costs stabilize. Costs jumped. Weak 2025 guidance. Revenue flat. If gold dips, profits will shrink fast. Stable, still room to run.
(Analysts’ price target is $82.00)
He'd go with that strategy. He's been lightening up on gold. With a strong USD, and interest rates possibly being higher, gold may take a few steps back.
The two biggest names, NGT and ABX, have really shown miserable production growth. Underperformed the group for a number of years now. They don't have the growth assets and their size means they can't accelerate as much. AEM is the new top senior.
NGT and AEM have overtaken ABX as the monsters in the industry by market cap. Well run. Keeps his exposure in the gold sector to 5% or less. Often a good buffer in troubled times.
Michael SprungStill owns shares, and believes business will continue to perform. Excellent management team with good capital allocation skills. Doesn't have geographic risk that other producers have. Very good at finding gold and new assets.
Michael Sprung
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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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)