Newmont has demonstrated strong cash generation with $1.6 billion in Q3 free cash flow, marking its fourth consecutive quarter above $1 billion. Despite trading below peers, the company is well-positioned with near-zero net debt and Tier 1 assets for the new global gold cycle. The author upgrades Newmont from Buy to Strong Buy due to its exceptional performance and attractive valuation.

纽蒙特矿业

<p>纽蒙特矿业在第三季度实现了 16 亿美元的自由现金流，展现出强劲的现金生成能力，这是其连续第四个季度超过 10 亿美元。尽管股价低于同行，但该公司在新一轮全球黄金周期中，凭借几乎为零的净债务和一流的资产，处于良好位置。作者将纽蒙特的评级从 “买入” 上调至 “强力买入”，因其表现卓越且估值吸引</p>

纽蒙特矿业：强劲买入，依托 10 亿美元的自由现金流和新的全球黄金周期