Newmont Corp. (NEM, Financial) (5.7%) (NEM – $49.02 – NYSE) is the largest gold mining company in the world by volume, expected to produce approximately 6 million ounces in 2023. Newmont aims to maintain production through internal expansion projects as some mines deplete. This capital-light model will allow the company to pay increasingly larger dividends if the price of gold stays at current levels or appreciates.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Value 25 Fund first-quarter 2023 commentary.
