Newmont Mining (NYSE:NEM), Barrick Gold (NYSE:ABX), Cheap Gold Stocks

Gold mining giants Newmont Mining (NYSE:NEM) and Barrick Gold (NYSE:ABX) (TSE:ABX) are strong companies but cheap stocks at this time.

The overall gold mining sector is cheap at this time, as they're making real profits and are largely undervalued and lagging the price of gold.

For example, with Barrick and Newmont, they're both trading far below what they were just six months ago, with Barrick trading at just below 19 times earnings, down from 26.6 times earnings in December, while Newmont is trading at 16.4 times earnings, dropping from the 26.7 time earnings they were trading for in December as well.