Valuentum Exclusive Analysis for the Discerning Investor

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Nov 5, 2021

Dividend Increases/Decreases for the Week November 5
Let's take a look at companies that raised/lowered their dividend this week.

Nov 3, 2021

Newmont’s Third Quarter Earnings Disappoints Though Management Remains Very Shareholder Friendly
Image Shown: Though Newmont Corporation’s third quarter earnings disappointed, the gold miner remains very shareholder friendly. Image Source: Newmont Corporation – Third Quarter of 2021 IR Earnings Presentation. One of our favorite mining plays is the gold miner Newmont Corporation, which has producing assets around the world including in Australia, Argentina, the Dominican Republic, Ghana, Mexico, Peru, Suriname, Canada, and the US. Newmont has a robust development pipeline in those countries via new producing mines and expansion projects (roughly 88% of Newmont’s reserves are in the Americas and Australia), along with potential upside in Japan, Ethiopia, Colombia, and elsewhere. The company’s management team is incredibly shareholder friendly (its quarterly payout has grown from $0.14 per share in 2019 to $0.55 per share currently and the firm is actively buying back its stock), and Newmont’s free cash flow generating abilities are impressive. We like Newmont as an idea in the Dividend Growth Newsletter portfolio. As of this writing, shares of NEM yield a nice ~4.1%.

Aug 20, 2021

Dividend Increases/Decreases for the Week August 20
Let's take a look at companies that raised/lowered their dividend this week.

Jun 7, 2021

Favorite Miner Newmont Shines Bright
Image Source: Newmont Corporation – June 2021 IR Presentation. On January 13, 2020, we added shares of Newmont Corp as an idea to the Dividend Growth Newsletter portfolio. The gold miner has a top-notch asset base located in favorable mining jurisdictions with ample reserves to maintain and potentially grow its production base over the coming years. Other than gold, Newmont also produces silver, lead, copper, and zinc. We continue to view Newmont as one of the best positioned miners out there and see the company as a way to hedge against growing inflationary pressures. Shares of NEM yield ~3.1% on a forward-looking basis.

Jun 1, 2021

ICYMI -- Video: Exclusive 2020 -- Furthering the Financial Discipline
In this 40+ minute video jam-packed with must-watch content, Valuentum's President Brian Nelson talks about the Theory of Universal Valuation and how his work is furthering the financial discipline. Learn the pitfalls of factor investing and modern portfolio theory and how the efficient markets hypothesis holds little substance in the wake of COVID-19. He'll talk about what companies Valuentum likes and why, and which areas he's avoiding. This and more in Valuentum's 2020 Exclusive conference call.

May 7, 2021

Dividend Increases/Decreases for the Week May 7
Let's take a look at companies that raised/lowered their dividend this week.

Mar 12, 2021

Newmont Doubles Down on the “Golden Triangle”
Image Shown: Newmont Corporation has an impressive project pipeline that will help ensure the gold miner’s production levels stay healthy over the decades to come, underpinning its promising long-term cash flow trajectory. We continue to like Newmont as an idea in our Dividend Growth Newsletter portfolio. Image Source: Newmont Corporation – March 2021 IR Presentation. We include gold miner Newmont Corp as an idea in the Dividend Growth Newsletter portfolio. Though gold prices have shifted somewhat lower over the past few months, they remain at levels where Newmont’s free cash flow growth outlook is incredibly bright. Shares of NEM yield ~3.8% on a forward-looking basis as of this writing after the company approved a large dividend increase in February 2021. In this article, we cover Newmont’s recent acquisition, which will add another long-term development opportunity to its global portfolio in a region that was already home to one of Newmont’s promising development opportunities.

Jul 15, 2020

Our Reports on Stocks in the Diversified Mining Industry
Image Source: Peter Craven. We've optimized our mining coverage.

Jun 16, 2020

Reiterating Our Bullish Long-Term View on Stocks
Image: The NASDAQ 100 Index remains resilient, bouncing off support, after breaking out to new highs recently. Some of our best ideas are included in the NASDAQ 100, and our favorite concentrations include exposure to big cap tech and large cap growth. We continue to be bullish on equities for the long run. In addition to unlimited quantitative easing and "whatever it takes, squared" Fed policy, today, June 16, the Trump administration announced that it is weighing a $1 trillion stimulus bill to help support the economy. While uncertainties remain regarding specifics of the bill (it might include state assistance, extension of unemployment benefits, etc.), the move is consistent with the outsize spending we expect to further bolster the bull case, "ICYMI -- Stay Optimistic. Stay Bullish. I Am." We continue to emphasize that, in light of unlimited QE and runaway fiscal stimulus, the longer-duration components of intrinsic values are expanding considerably, and as a result, fair values, themselves, are actually rising during this recession and pandemic [a good estimate of the value of the S&P 500 today may be between 3,530-3,920, as outlined in the following: "Scribbles and More Newsletter Portfolio Changes.]."

Jun 15, 2020

ICYMI: Survey Coming Later Today, More Market Volatility Expected
Image: The market's levels of volatility so far in 2020 have been among the greatest in history. Expectations for increased volatility in the marketplace as a result of the proliferation of price-agnostic trading (indexing and quantitative trading) is a key theme of Valuentum's text, Value Trap: Theory of Universal Valuation. We continue to emphasize the importance of due diligence, enterprise valuation, behavioral thinking, the information contained in prices, and stock selection across equity portfolios. Page 256. This week is setting up to be yet another volatile week of trading, but nothing too surprising. We've talked extensively about outsize levels of volatility in the book Value Trap, and many of our predictions regarding the magnitude of volatility have come to fruition, as described in this note here. But as we've also noted in Value Trap, we don't think increased volatility is a transient development. The Fed and Treasury have only further emboldened price-agnostic trading (indexing/quant) with recent bailout actions, and volatility and momentum funds, which exacerbate the swings, will only grow as a percentage of trading volumes. The magnitude of market volatility during the COVID-19 crisis has certainly been immense. During March for example, the Dow Jones Industrial Average had 8 consecutive days with a 4% move in either direction (this is the first time in history this happened--not even during the tumultuous times of the Crash of 1929 or Black Monday of 1987 or the Great Financial Crisis did this happen). Intra-day volatility has also been considerable, and it has become commonplace for equity futures to swing wildly before market open. Now, more than ever, investors need a steady hand at the wheel.