Newmont to Produce 5.5 Million Ounces of Gold in 2024
- Newmont is the largest gold mining company and has expanded its operations significantly.
- The company is expected to produce about 5.5 million ounces of gold in 2024, along with byproducts.
- Mixed analyst sentiments reflect varying perspectives on Newmont's future performance.
Newmont, the world's largest gold miner, has been actively expanding its operations, purchasing Goldcorp in 2019 and competitor Newcrest in November 2023. The company is now focused on enhancing its gold production capabilities, forecasting an output of approximately 5.5 million ounces of gold for the year 2024 from its core mines. In addition, Newmont projects a total production of 6.8 million ounces, considering byproducts like copper, silver, zinc, and lead. Analysts from various firms have provided their insights and target prices for Newmont stock, reflecting a mix of optimistic and cautious sentiments, particularly in light of market fluctuations and trading volumes observed recently. As of now, the sentiment surrounding Newmont is showing signs that its stock may be approaching an oversold level, which could impact trading strategies. An earnings announcement is expected in roughly 107 days, which may offer further insights into the company's performance and market positioning.