Mine for Value and Yield With Newmont Stock
As large and established as Newmont (NYSE: NEM) is, no resource business has been exempt from 2022's macro-level problems. Along with the usual suspects, including inflation and qualified worker shortages, gold miners have faced the headwind of a frustratingly range-bound gold price.
Amid this challenging backdrop, Newmont's second-quarter results were far from perfect and this has been reflected in the share-price trajectory. Still, even as Newmont stock slides to short-term lows, there's an overarching sense that the resource behemoth refuses to slow down in any way, shape, or form.
If gold weren't so precious, it wouldn't be worth the expense of getting it out of the ground. That's the impression investors might get after Newmont cited a number of contributing factors as to why the company's cost per ounce -- or, as Newmont calls it, costs applicable to sales (CAS) -- rose 23% year over year to $932 in 2022's second quarter. Among other issues, Newmont blamed increased labor costs and "commodity inputs," such as fuel and energy costs.
Source Fool.com
