Newmont undervalued at 0.82x NAV with strong growth prospects from Red Chris project.

Newmont is currently trading below the net asset value of its mines at 0.82x NAV, presenting a buying opportunity with a $117 price target. The unlocking of permits for the Red Chris Block Cave project reveals a major copper-gold resource not yet priced into the stock. Upcoming project completions and the final investment decision for Red Chris are expected to boost production and lead to higher consensus earnings estimates. The company's strong balance sheet and share buybacks also reduce risks related to the New Gold Mines dispute, effectively giving investors exposure to Red Chris at no extra cost.