|Bid||13.56 x 300|
|Ask||13.65 x 300|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|PE Ratio (TTM)||21.27|
|Forward Dividend & Yield||0.08 (0.58%)|
|1y Target Est||17.75|
Newmont Mining (NEM) is one of the few gold mining stocks to have given positive returns in the first half. As of June 30, it has returned 0.5%, compared to a loss of 4.0% for the VanEck Vectors Gold Miners ETF (GDX). The company is expecting its unit costs to rise in 2018 due to the working off of higher stripping at Carlin, Boddington, Ahafo, and Twin Creeks.
Investors are typically interested in gold mining companies’ (GDX)(GDXJ) ability to generate FCF (free cash flow) because FCF helps them invest in future growth—apart from the aim of returning cash to shareholders.
In this part, we’ll discuss what analysts expect for these gold miners’ (RING) earnings. In line with lower revenues, Barrick Gold’s (ABX) EBITDA are also expected to fall. Barrick is expecting its all-in sustaining costs for 2018 to be $765–$815 per ounce, compared to $710–$770 per ounce in 2017.
Analyst estimates for gold miners’ (GDX) revenues can give us a good idea about their outlook on gold prices (GLD) as well as companies’ production growth. In this part of our series, we’ll assess analysts’ revenue expectations for gold companies in the second quarter and beyond. Analysts expect Barrick Gold (ABX) to generate revenues of ~$1.84 billion in the second quarter.
At extreme levels, these ratings could even signal a change in direction, so it’s important for investors to track this data. In the senior and intermediate gold miner space (GDX)(GDXJ), analysts are the most bullish on IAMGOLD (IAG), with 75.0% of analysts assigning it a “buy.” Plus, 25.0% rated it as a “hold,” and there were no “sell” ratings. Goldcorp (GG) comes next with 70.0% “buy” ratings and 25.0% “hold” ratings.
Gold prices have declined ~5.0% YTD (year-to-date) after rising ~13.0% in 2017. Gold is hitting lows despite factors that favor its safe-haven status. Despite the escalation of trade war fears and political tensions in the European Union, gold prices have been trending lower.
TORONTO, July 18, 2018-- Eastmain Resources Inc. is pleased to announce the receipt of assay results from 32 drill holes totalling 5,449 m completed during the winter drilling campaign at the Éléonore ...
Azimut and Partners strengthen the large-scale intrusion-hosted gold system on the Eleonore South Property
The CFTC (Commodity Futures Trading Commission) reports the position of major players in the futures market through its COT (Commitment of Traders) report. According to the COT report for the week ended June 26, 2018, money managers were barely net long on gold with just over 4,000 net speculative long contracts. According to Commerzbank, “Short positions, in particular, were built up, which means speculative financial investors are currently betting heavily on falling prices.” For the week ended June 3, money managers kept their positions almost unchanged, which implies the lowest levels of net long positioning since late 2015 when gold prices dipped below $1,050 per ounce.
Gold hasn’t exactly glittered over the last few weeks. After hitting a recent high back in March, the uber-popular SPDR Gold Shares (NYSEARCA:GLD) has spent the rest of the year falling, and is now about 8% lower. All in all, a variety of factors and issues have continued to pressure the metal itself and the various gold stocks that produce it.
Diesel is out and electric is in at Goldcorp's Borden project in Canada. The all-electric strategy could enable huge cost savings if applied across the portfolio.
Gold prices have gone through a rough patch recently with prices closing near their seven-month lows. Gold is hitting lows despite many factors that are favoring its safe-haven status. Despite the escalation of trade war fears and political tensions in the European Union, gold prices have been trending lower. While these factors have helped gold, the US dollar is also attracting bids because of these factors, which has capped gold’s gains.
In the commodities market, there tends to be a negative correlation between the U.S. dollar and gold and other related metals. In the paragraphs below, we'll examine the charts of the broad commodities market and then dive deeper into the gold miners to see how this segment could be the one to watch over the weeks or months ahead. When it comes to tracking the commodities market, many retail investors turn to exchange-traded products such as the Invesco DB Commodity Index Tracking Fund.
Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU.V) (AUXXF) is pleased to announce that it has arranged a non-brokered private placement to raise CAN$4,415,605. The placement will consist of 12,616,014 shares of ALLEGIANT at a price of CAN$0.35 per common share (the “Offering”). In connection with the Offering, Goldcorp Inc. (TSX:G) is undertaking a strategic investment in ALLEGIANT. Goldcorp will purchase 5,923,819 ALLEGIANT common shares at CAN$0.35/share for gross proceeds to ALLEGIANT of CAD$2,073,337. Post-closing Goldcorp will own 9.99% of the issued and outstanding common shares of ALLEGIANT on a non-diluted basis.
Gold Stayed Weak in the First Half of 2018—Will Its Year Improve? On June 12, Morgan Stanley upgraded Newmont Mining (NEM) from an “equal-weight” to an “overweight” and raised its target price to $40 from $37. The brokerage cited stronger execution, a steadier production profile, a stronger project pipeline, a better reserve life, and lower leverage as the main reasons for its preference of NEM over Barrick Gold (ABX).
As far as it goes, Goldcorp (NYSE:GG) probably isn’t the worst stock in the market. In fact, GG stock might actually be one of the better plays in the gold mining space. As I wrote in April, the gold mining space has been a disaster for investors over the past few years.
The Fed has hinted that there could be two more interest rate hikes this year, for a total of four hikes in 2018. Investors are closely watching non-farm payroll data, which indicates the overall economy’s potential. Inflation meeting its targeted 2% is also among the Fed’s considerations.
Gold Stayed Weak in the First Half of 2018—Will Its Year Improve? Are sentiments improving for Newmont Mining and Goldcorp? Among senior gold miners, analysts are the most bullish on Goldcorp (GG), assigning it 70% “buy” and 5% “sell” ratings.
Gold Stayed Weak in the First Half of 2018—Will Its Year Improve? Kinross Gold (KGC) stock has been the worst performer among those we’re discussing in this series. While the company’s operational performance has been going according to plan, there are variables companies can’t control, and it’s one of those uncontrollable variables to which Kinross stock has fallen prey.
Gold Standard Ventures said Goldcorp has increased its stake in the Vancouver-based mineral exploration company to 12.73% from 9.86%, bringing its ownership to about 32.4 million shares.
Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU.V) (AUXXF) is pleased to announce that it has arranged a non-brokered private placement to raise CAN$4,415,605. The placement will consist of 12,616,014 shares of ALLEGIANT at a price of CAN$0.35 per common share (the “Offering”). In connection with the Offering, Goldcorp Inc. (TSX:G) is undertaking a strategic investment in ALLEGIANT.
Newmont Mining (NEM) and Goldcorp (GG) are the only two senior gold mining stocks that have had positive returns YTD (year-to-date). In the first six months of the year, NEM returned 0.5%, and Goldcorp outperformed its peers significantly with a rise of 7.4%. Newmont Mining reported an earnings beat in the first quarter.
LONDON, UK / ACCESSWIRE / July 5, 2018 / Active-Investors free stock reports for this morning include these Toronto Exchanges' equities from the Metals & Mining industry: Barrick Gold, B2Gold, Goldcorp, and HudBay Minerals. The TSX Venture Exchange shaved off 1.82 points, or 0.25%, to finish at 738.75. Today's stocks of interest consist of: Barrick Gold Corporation (TSX: ABX), B2Gold Corporation (TSX: BTO), Goldcorp Inc. (TSX: G), and HudBay Minerals Inc. (TSX: HBM).