Thursday, February 4, 2010

Newmont Mining (NYSE:NEM) Top Pick Deutsche Bank

Newmont Mining

Newmont Mining (NYSE:NEM) is the top pick of Deutsche Bank, which recently started covering four gold companies from North America. Along with Kinross Gold (K.TO), Deutsche named to two companies as buy at this time, with Newmont being considered the top company in the sector. Kinross Gold is based in Canada, although it also trades on the NYSE.

The chief characteristic Keutsche looked for in their valuations was those companies with higher free cash flow.

"On both valuation and free cash flow yield Newmont appears the cheaper alternative vis-a-vis Barrick, while Kinross trades at a substantial discount to Goldcorp," said analyst Jorge Beristain.

Newmont Mining

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