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$39.70 -0.53 (-1.32%)
9/8/2008 12:03 PM

Newmont Mining Corp (NEM)

CAPS Rating:
***

A gold producer, engaged in the exploration for and acquisition of gold properties. The Company has operations in the United States, Australia, Peru, Indonesia, Canada, Bolivia, New Zealand, Ghana and Mexico.

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Avatar gfire77 (69.72) Submitted: 1/24/07 3:29 PM : Outperform Start Price: $43.94 NEM Score: 2.83

Another hated stock!!! I love it. Newmont has something like 93 billion ounces of proven and probable reserves of gold in the ground. At today's prices you're paying $210 per ounce of ground in the gold. There are production costs as well. But as the US continues to run huge budget and trade defecits the Federal Reserve is in a position of having to print more money. At some point, China will get sick of holding all these dollars and dump them. The decline of the dollar and the subsequent fear and destabilization of the world's monetary unit, the dollar standard, will lead to a sharp rise in gold. This is a big, safe way to play this.

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