Newmont is a gold mining  company such as Hecla is a silver mining company. Just as Hecla, it is a prime candidate to benefit from the high inflation low growth (stagflation) scenario that is unfolding.

Lower energy costs AISC (see Hecla post) down to roughly 1500 an ounce so it is majorly profitable at these prices which are expected to hold on. Newmont has decided not to hedge prices for 2025.

They have the biggest reserves in the world over 200 million ounces. It is cheap at the moment (now already a bit more expensive) with 9 times forward PE.

The Newmont-to-gold ratio is currently at its lowest point in 44 years. Gold miners are very unpopular at the moment. Unpopularity is opportunity. This is one of the most interesting and straight forward opportunities of the moment. Free cash flow machine in stagflation scenario