Are Newcrest (ASX:NCM) shares an inflation-hedging buy?

The Newcrest Mining Ltd (ASX: NCM) share price has been an underwhelming one in recent times. Over the past 12 months, shares in the gold miner have eroded 10.5% in value. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has gained 11.6%.

During the past year, the…