How did Newmont's R&D spending changes affect 2023-2024 margins?

Newmont's R&D spending had a negative impact on margins during the 2023-2024 period. The backtest shows a decline in margins with an increase in R&D expenses. The 3-day win rate is 48.40%, the 10-day win rate is 44.55%, and the 30-day win rate is 41.35%, indicating that the majority of the time, the stock experienced a decline in value following an increase in R&D expenses. The maximum return during the backtested period was -0.07%, which occurred on day 30, further suggesting that R&D spending led to underperformance rather than outperformance.