Newmont Corp. was already the largest producer of gold by a significant margin in 2022. Since then, it’s acquired Australian competitor Newcrest in a $15 billion deal to solidify its leading position with what the company calls a “robust copper optionality.”
Newmont is so large that its production is around twice its next-closest competitor, Barrick Gold Corp. (NYSE:GOLD).
But lately, shareholders have not been rewarded for its rapid growth, signaling a lack of confidence from investors as its stock price hovers near a five-year low.
Don’t Miss:
While its stock soared from the pandemic into mid-2022, it’s fallen over 63% from peak to trough since then.
Some analysts believe its recent acquisition and integration of Newcrest is contributing to its recent disappointing financial performance.
Morningstar, for example, points out that “bigger is not always better in gold mining” and that…
