Newmont (NEM) shares appear “cheap” at a 13-times price-to-earnings ratio, even though the company may not offer the rapid production growth of a speculative junior miner, Barron’s Dan Victor writes in the publication’s Stock Picks column. The company is also generating strong earnings and record free cash flow amid climbing gold and silver prices, and the stock represents a good option for investors to capture exposure to rising precious metal prices within a diversified portfolio, Victor states.
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