Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Gold Equities: A Detailed Look At The Capital Allocation Plans Of Our Universe - Newmont (NEM US)

GOLD MINING SECTOR: Comparative Valuation, Share Price Performance & Gold Price Sensitivity

Gold At 4,500 USD/Oz: Seven Ideas To Look At In the Gold Space

Gold At 4,000 USD/Oz: Valuation Update Of Our Six Top Picks

Newmont Mining (NEM US): The World's Premier Gold Miner At ~10% FCF Yield

Apex Mining (APX PM): Solid Q1FY26 On Gold Price, Despite Grade Declines

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

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<li><a target="_blank" rel="noopener">Newmont Mining (NEM US)</a> recorded a second-quarter free cash flow of $2.2bn on a realized gold price of $4,414/oz; full-year 2026 guidance of 5.3Moz reaffirmed.</li>
<li>
Operating leverage intact: realized gold up 33% YoY against 4% growth in absolute CAS; $3.4bn net cash funds buybacks without strain.</li>
<li>
Stock trades at 10.1x P/E and 5.5x EV-EBITDA, with almost USD 4.3 Bn of buybacks still to come and a net cash position of USD 3.4 Bn. FCF Yield 11%. </li>
</ul>


Newmont Mining (NEM US) recorded a second-quarter free cash flow of $2.2bn on a realized gold price of $4,414/oz; full-year 2026 guidance of 5.3Moz reaffirmed.

Operating leverage intact: realized gold up 33% YoY against 4% growth in absolute CAS; $3.4bn net cash funds buybacks without strain.

Stock trades at 10.1x P/E and 5.5x EV-EBITDA, with almost USD 4.3 Bn of buybacks still to come and a net cash position of USD 3.4 Bn. FCF Yield 11%. 


Newmont Mining (NEM US): Q2 FY26 Results, Record Second Quarter FCF Despite Softer Gold Price