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Newmont Looks Positioned for Renewed Rally

Gold, as an asset class, has delivered returns at a CAGR of 10% over the past 20 years. Owning physical gold is one way to consider exposure to the precious
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Gold, as an asset class, has delivered returns at a CAGR of 10% over the past 20 years. Owning physical gold is one way to consider exposure to the precious metal.

Another good idea is to buy gold mining stocks.

Newmont Corporation (NEM) looks like an attractive name among gold miners. In May 2021, NEM stock had surged to a high of $75.31. However, with some near-term weakness in gold, the stock has declined to current levels of just over $58. (See Newmont stock charts on TipRanks)

I'm bullish on the stock. Besides the potential for a renewed rally, Newmont currently offers an attractive dividend yield of 3.6%. If gold remains firm, dividends can sustain, and possibly increase in the coming years.

Reasons to be Bullish on Gold

The price action in gold mining stocks largely depends on the price trend for gold. With inflation accelerating, there were concerns that of a relatively early rate hike.

However, recently Fed Chairman Jerome Powell indicated that the impact of the Delta variant of COVID-19 on the economy is uncertain. If the new variant cases continue to rise, there might be a case for renewed economic weakness.

This can potentially delay any rate hike. It’s also worth noting that even if interest rates trend higher in baby steps, real interest rates are likely to remain negative for an extended period. This is good news for precious metals.

Rising geo-political tensions can also support upside for gold. Even central banks have remained aggressive gold buyers with an objective of diversifying reserves. These factors are likely to ensure that gold remains in an uptrend over the next few years.

Newmont's Strong Fundamentals

Being in a capital-intensive industry, it’s important to talk about the balance sheet. A strong credit profile is a key reason to like Newmont Mining.

As of Q2 2021, the company reported cash and equivalents of $4.6 billion. Additionally, the company has undrawn credit facilities of $3 billion. With a total liquidity buffer of $7.6 billion, the company seems fully financed for the next 12-24 months.

Another important point to note is that Newmont reported a net-debt-to-EBITDA ratio of 0.2. There is ample headroom for leveraging in a scenario of asset acquisition, or a significant ramp-up in investments.

Given the fundamentals, the company is positioned to maintain dividends, and pursue share repurchases.

Asset Base Provides Cash Flow Visibility

Newmont has a quality asset base with a focus on the Americas and Australia. With more than 10 years of gold reserve life, the company has a clear cash flow visibility.

For Q2 2021, the company reported free cash flow of $560 million. This would imply an annualized free cash flow potential of over $2 billion.

As well, the company expects an all-in-sustaining-cost of $970 an ounce for the current year. However, by 2025, Newmont has guided for an AISC of $800 to $900 an ounce. Clearly, the company is positioned for robust EBITDA and cash flows, especially if gold trades around $2,000 an ounce.

Wall Street’s Take

According to TipRanks’ analyst rating consensus, NEM stock comes in as a Moderate Buy, with four Buy and three Hold ratings assigned in the past three months.

The average Newmont price target is $70.73 per share, implying 21.1% upside potential from current levels.

Final Verdict

Newmont seems attractive at current levels, considering the company’s fundamentals and asset base. Gold is also likely to remain in a long-term bull market, and this can support upside for NEM stock.

Additionally, the stock also seems attractive for income investors. The credit profile of the company indicates sustained dividends. Furthermore, if gold trades above $2,000 an ounce, there is visibility for healthy dividend growth.

Overall, the correction seems like a good accumulation opportunity. A sharp reversal from current levels might be on the cards.

Disclosure: At the time of publication, Faisal Humayun did not have a position in any of the securities mentioned in this article

Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates, and should be considered for informational purposes only. TipRanks makes no warranties about the completeness, accuracy or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. TipRanks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by TipRanks or its affiliates. Past performance is not indicative of future results, prices or performance.

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$500 Per Hour Tutors Are Back In Vogue Now That Colleges Have Decided SATs Are, In Fact, A Necessity

$500 Per Hour Tutors Are Back In Vogue Now That Colleges Have Decided SATs Are, In Fact, A Necessity

It was just about a month ago we noted…

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March 20, 2024

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$500 Per Hour Tutors Are Back In Vogue Now That Colleges Have Decided SATs Are, In Fact, A Necessity

It was just about a month ago we noted that SATs were once again being reconsidered by colleges who had reduced or eliminated their requirement due to (pick one: diversity, racism, climate change, equity, gender affirmation). 

As a result of the comeback, Bloomberg noted this week that tutors, sometimes costing $500 per hour, are all of a sudden back in vogue. 

Bloomberg wrote that demand for SAT tutoring and prep centers is surging as several top colleges reintroduce mandatory SATs, and students adapt to the SAT's new digital format.

Kaplan reported a significant enrollment increase, attributed to digital testing and the reinstatement of testing requirements by institutions and three Ivy League schools—Yale, Dartmouth, and Brown—have reinstated mandatory SATs, alongside MIT and the University of Texas at Austin. This shift has left many students scrambling for preparation before early application deadlines.

Companies like The Princeton Review have also seen a spike in interest for prep services.


Parents Bloomberg profiled are once again investing in tutoring services for their children to improve their chances of success. The debate over standardized testing's fairness persists however, with critics arguing it favors wealthier students who can afford extensive prep. But those winning the argument still claims that standardized tests provide valuable benchmarks for admissions, potentially aiding in diversifying the applicant pool.

We noted last month in a piece from American Greatness, that according to Axios, multiple colleges used the Chinese Coronavirus pandemic as an excuse to weaken the importance of SAT and ACT test scores in most student applications. But in recent weeks, several schools have reversed course; Yale is considering repealing its prior policy of making SAT/ACT requirements optional, with Dartmouth already reinstating the requirements earlier this month. MIT reversed a similar policy back in 2022.

Other schools that have eliminated SAT/ACT requirements include Harvard and Columbia. Harvard, along with Cornell and Princeton, have extended their policy of making the scores optional, while Columbia’s policy remains permanent.

One of the motivating factors behind the reversal is ongoing research showing a clear correlation between students’ standardized test scores, and their subsequent academic performance and graduation rates in college. Some schools had previously opposed the test requirements for reasons of “diversity,” baselessly accusing the tests of being “racist” and against minority students.

Tyler Durden Wed, 03/20/2024 - 17:20

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Disney remote jobs: the most magical WFH careers on earth?

Disney employs hundreds of thousands of employees at its theme parks and elsewhere, but the entertainment giant also offers opportunities for remote w…

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March 20, 2024

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The Walt Disney Co. (DIS)  is a major entertainment and media company that operates amusement parks, produces movies and television shows, airs news and sports programs, and sells Mickey Mouse and Star Wars merchandise at its retail stores across the U.S.

While most of the jobs at the multinational entertainment conglomerate require working with people — such as at its theme parks, film-production facilities, cruise ships, or corporate offices — there are also opportunities for remote work at Disney. And while remote typically means working from home, with Disney, it could also mean working in a non-corporate office and being able to move from one location to another and conduct business outside normal working hours.

Related: Target remote jobs: What type of work and how much does it pay?

What remote jobs are available at Disney?

Many companies, including Disney, have called employees to return to the office for work in the wake of the COVID-19 pandemic, and the bulk of the company’s positions are forward-facing, meaning they involve meeting with clients and customers on a regular basis. 

Still, there are some jobs at the “most magical company on earth” that are listed as remote and don’t require frequent in-person interaction with people, including opportunities in data entry and sales.

While thousands work in forward-facing positions, such as greeting customers at Disney’s theme parks around the world, there are some positions with the Walt Disney Co. that allow work to be done remotely.

Orlando Sentinel/Getty Images

On Disney’s career website, there are limited positions available where the work is completely remote. One listing, for example, is for a “graphics interface coordinator covering sporting events.” This role involves working on nights, weekends, and holidays — times when corporate offices tend to be closed — and it may make sense for the company to hire people who can work from home or to travel and work in a location separate from the game venue.

Some of the senior roles that are shown on the website involve managers who can oversee remote teams, whether that be in sales or data. Sometimes, a supervisor overseeing staff who work outside corporate offices may be responsible for hiring freelancers who work remotely.

On the employment website Indeed, there are limited positions listed. A job listing for a manager in enterprise underwriting for a federal credit union indicates weekend duty, working outside of an 8 a.m. to 5 p.m. schedule, and being able to work in different locations. The listed annual salary range of $84,960 to $132,000, though, is well above the national annual average of around $50,000.

Internationally, Disney offers remote work in India, largely in the field of software development for its India-based streaming platform, Disney+ Hotstar.

The company also offers some hybrid schemes, which involve a mixture of in-office and remote work. For a mid-level animator position based in San Francisco, the role would involve being in the office and working from home occasionally.

How much do remote jobs at Disney pay?

Pay for remote jobs at Disney varies significantly based on location. A salary for a freelance artist in New York City, for example, may be higher than for the same job in Orlando, Florida. 

Disney lists actual salary ranges in some of its job postings. For example, the yearly pay for a California-based compensation manager who works with clients is $129,000 to $165,000.

In an online search for “remote jobs at Disney,” results range from $30 to $39 an hour, for data entry, or $28.50 to $38 an hour for social media customer support.

How can I apply for remote jobs at Disney?

You can look for remote jobs on Disney's career site, and type “remote” in the search field. Listings may also appear on career-data websites, including Indeed and Glassdoor.

How many employees does Disney have?

In 2023, Disney employed about 225,000 people globally, of which around 77% were full-time, 16% part-time, and 7% seasonal. The majority of the workers, around 167,000, were in the U.S.

Disney says that a significant number of its employees, including many of those who work at its theme parks, along with most writers, directors, actors, and production personnel, belong to unions. It’s not immediately known how many remote workers at the company, if any, are union members. 

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FoxO6-mediated ApoC3 upregulation promotes hepatic steatosis and hyperlipidemia in aged rats fed a high-fat diet

“This discovery unveils a potential novel molecular target for therapeutic strategies against hepatic steatosis during the aging process […]” Credit:…

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“This discovery unveils a potential novel molecular target for therapeutic strategies against hepatic steatosis during the aging process […]”

Credit: 2024 Kim et al.

“This discovery unveils a potential novel molecular target for therapeutic strategies against hepatic steatosis during the aging process […]”

BUFFALO, NY- March 20, 2024 – A new research paper was published in Aging (listed by MEDLINE/PubMed as “Aging (Albany NY)” and “Aging-US” by Web of Science) Volume 16, Issue 5, entitled, “FoxO6-mediated ApoC3 upregulation promotes hepatic steatosis and hyperlipidemia in aged rats fed a high-fat diet.”

FoxO6, an identified factor, induces hyperlipidemia and hepatic steatosis during aging by activating hepatic lipoprotein secretion and lipogenesis leading to increased ApoC3 concentrations in the bloodstream. However, the intricate mechanisms underlying hepatic steatosis induced by elevated FoxO6 under hyperglycemic conditions remain intricate and require further elucidation.

In this new study, researchers Dae Hyun Kim, Seulah Lee, Sang Gyun Noh, Jaewon Lee, and Hae Young Chung from Pusan National University aimed to delineate the regulatory pathway involving ApoC3 controlled by FoxO6 and its resultant functional impacts.

“[…] we employed a spectrum of models including liver cell cultures, aged rats subjected to HFD, transgenic mice overexpressing FoxO6 (FoxO6-Tg), and FoxO6 knockout mice (FoxO6-KO).”

Their findings indicate that FoxO6 triggered ApoC3-driven lipid accumulation in the livers of aged rats on an HFD and in FoxO6-Tg, consequently leading to hepatic steatosis and hyperglycemia. Conversely, the absence of FoxO6 attenuated the expression of genes involved in lipogenesis, resulting in diminished hepatic lipid accumulation and mitigated hyperlipidemia in murine models. Additionally, the upregulation of FoxO6 due to elevated glucose levels led to increased ApoC3 expression, consequently instigating cellular triglyceride mediated lipid accumulation. The transcriptional activation of FoxO6 induced by both the HFD and high glucose levels resulted in hepatic steatosis by upregulating ApoC3 and genes associated with gluconeogenesis in aged rats and liver cell cultures.

“Our conclusions indicate that the upregulation of ApoC3 by FoxO6 promotes the development of hyperlipidemia, hyperglycemia, and hepatic steatosis in vivo, and in vitro. Taken together, our findings underscore the significance of FoxO6 in driving hyperlipidemia and hepatic steatosis specifically under hyperglycemic states by enhancing the expression of ApoC3 in aged rats.”
 

Read the full paper: DOI: https://doi.org/10.18632/aging.205610 

Corresponding Author: Hae Young Chung

Corresponding Email: hyjung@pusan.ac.kr 

Keywords: HFD-feeding, aging, forkhead transcription factor O6, ApoC3, lipid accumulation, hepatic steatosis

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About Aging:

Aging publishes research papers in all fields of aging research including but not limited, aging from yeast to mammals, cellular senescence, age-related diseases such as cancer and Alzheimer’s diseases and their prevention and treatment, anti-aging strategies and drug development and especially the role of signal transduction pathways such as mTOR in aging and potential approaches to modulate these signaling pathways to extend lifespan. The journal aims to promote treatment of age-related diseases by slowing down aging, validation of anti-aging drugs by treating age-related diseases, prevention of cancer by inhibiting aging. Cancer and COVID-19 are age-related diseases.

Aging is indexed by PubMed/Medline (abbreviated as “Aging (Albany NY)”), PubMed Central, Web of Science: Science Citation Index Expanded (abbreviated as “Aging‐US” and listed in the Cell Biology and Geriatrics & Gerontology categories), Scopus (abbreviated as “Aging” and listed in the Cell Biology and Aging categories), Biological Abstracts, BIOSIS Previews, EMBASE, META (Chan Zuckerberg Initiative) (2018-2022), and Dimensions (Digital Science).

Please visit our website at www.Aging-US.com​​ and connect with us:

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For media inquiries, please contact media@impactjournals.com.

 

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Journal

Aging-US

DOI

10.18632/aging.205610

Method of Research

Experimental study

Subject of Research

People

Article Title

FoxO6-mediated ApoC3 upregulation promotes hepatic steatosis and hyperlipidemia in aged rats fed a high-fat diet

Article Publication Date

3-Mar-2024

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