Despite a cautious outlook on gold investments from Morningstar, Newmont has been identified as the least unreasonably priced gold miner within its coverage of the Australian Securities Exchange (ASX). Newmont is a gold and copper producer. The company explores for, develops, and operates gold and copper properties.
According to Morningstar market strategist Lochlan Halloway, Newmont shares are trading approximately 40 per cent above their fair value. While still overvalued, this represents a comparatively more attractive entry point than other gold mining stocks assessed by Morningstar.
Globally, Barrick Gold Corporation is considered the least expensive, trading at a 17 per cent premium. This information may be valuable for investors seeking exposure to the gold mining sector while remaining mindful of valuation concerns. Investors should conduct thorough research and consider their own financial circumstances before making any investment decisions.
