Home Earnings Analysis Basic Materials Summary Newmont Corporation (NEM) remains a buy, trading 20% below its January high despite record Q1 earnings and strong free cash flow. NEM posted Q1 non-GAAP EPS of $2.90 and $7.3B revenue, beating estimates, with robust $3.1B free cash flow and a new $6B buyback. Valuation is attractive: assuming $10.50 normalized EPS and a 14x P/E, intrinsic value is $147, though risks from lower gold prices and higher oil persist. Technical setup is mixed; shares trend lower but hold support near $106, with a rising 200-day moving average suggesting primary bullish control. William Luque/iStock via Getty Images Newmont Corporation ( NEM ) has given back a significant amount of its recent gains. Shares are about 20% below their January all-time high, and the decline comes as earnings growth climbs and its balance sheet continues to look strong.…