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.

紐蒙特礦業

<p>紐蒙特礦業在第三季度實現了 16 億美元的自由現金流，展現出強勁的現金生成能力，這是其連續第四個季度超過 10 億美元。儘管股價低於同行，但該公司在新一輪全球黃金週期中，憑藉幾乎為零的淨債務和一流的資產，處於良好位置。作者將紐蒙特的評級從 “買入” 上調至 “強力買入”，因其表現卓越且估值吸引</p>

紐蒙特礦業：強勁買入，依託 10 億美元的自由現金流和新的全球黃金週期