I Am Watching This Earnings Report For This Big Cap Mining Stock This Week

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Google and TSLA to report earnings today, but the biggest gold mining company in the world is Newmont Mining and it is on tap to report earnings after this Wednesday’s market close.

Notice how the stock burst upward in the first half of this month and is now consolidating between $49 and $46 a share.

This is a healthy consolidation, considering that the gold price itself has pulled back over $80 in the past few days.

NEM stock barely flinched during this gold price dip.

One reason why is that when it reported earnings last quarter it beat analysts estimates by 50% and analysts are now expecting a 60% year over year in second quarter earnings growth to be revealed this week.

While gold is up 16% this year, the revenue for big cap mining companies, such as NEM is up much more than that, because rising gold prices have a multiplier effect on gold producers.

NEM is posting the type of earnings growth that makes for super growth stories.

And it is not doing it with hype, but simple execution of its mining operations.

This is not crypto mining, but REAL mining of REAL WORLD assets, and because of that REALITY Newmont pays a 2.13% dividend.

This is the type of stuff that gets the attention of serious big money.

I’m going to have my eye on this Newmont earnings report, because I own shares in it’s stock.

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