To The Moon

Growth stocks were the darlings of the market in the rally after March 2020. However, as equities get jittery on multiple macro-economic headwinds, large-cap stocks have found relatively higher interest. In general,large-cap stockshave low volatility and with established businesses, cash flows are robust. Investors therefore benefit from steady stock upside coupled with dividend gains. Additionally, there are large-cap stocks that have sustained dividend growth visibility. These areattractive as yieldsare likely to remain stable even if the stock trends higher. It’s also worth mentioning that theVanguard Large Cap Index Fund$Vanguard Large-Cap ETF(VV)$(NYSEARCA:VV) has deliveredcumulative returns of 278%in the last 10 years. While there is a tendency to pursue growth stocks for healthier portfolio returns, large-cap stocks have been silent performers. Let’s talk about a large-cap stock with continued dividend growth potential. In a portfolio of large-cap stocks for the long-term, it’s important to have a precious metal stock. With geo-political tensions and negative real interest rates,gold is likely to be a performer.I like Newmont$Newmont Mining(NEM)$ (NYSE:NEM) among dividend growth stocks for several reasons. The company has a strong asset base with stable production visibility well into 2040s. Newmont reported 96 million ounces of gold reserves with a majority of assets in North and South America. More importantly, Newmont expects to lower it’sall-in sustaining costto $800 to $900 an ounce in the next few years. With gold trading above $1,800 an ounce, there is visibility for EBITDA margin expansion. Newmont also has aninvestment grade balance sheet.With a liquidity buffer of $7.3 billion and a net-debt-to-adjusted-EBITDAX of 0.3x, the company is positioned for aggressive investments. Ove rall, NEM stock looks attractive from the perspective of upside as well as dividend growth. Ifgold remains in a long-term uptrend(very likely), Newmont is positioned to create immense value.