What changed
$NEM — BUY 📊 | 6 MONTHS THESIS
🎯 Q1 2026 | Rev $7.3B | EPS $2.90 vs $2.17 🟢
💡 Consensus underestimated the sustained cash flow generation from NEM's diversified asset base at current gold prices. The market's reaction to the beat (likely early) may not fully reflect the full-year run-rate earnings potential, which implies a P/E below 10x — a discount to historical multiple ranges for tier-one miners during high gold price...
📉 Reward/risk: 2.5:1
🏢 Business Quality: 8/10 - Largest gold producer with globally diversified, long-life mines; record free cash flow generation; net cash position; shareholder returns via buybacks and dividends.
📊 Valuation: cheap — Trailing P/E ~30x (using GAAP LTM EPS) but forward P/E likely 8-9x on annualized Q1 EPS of ~$11.6.
📊 Our read: BUY. Full analysis →
https://stockduty.xyz/s/NEM0611