|Bid||10.30 x 40000|
|Ask||10.31 x 1000|
|Day's Range||10.22 - 10.47|
|52 Week Range||8.42 - 15.32|
|Beta (3Y Monthly)||0.25|
|PE Ratio (TTM)||115.73|
|Forward Dividend & Yield||0.08 (0.83%)|
|1y Target Est||13.74|
Newmont Mining is not buying Goldcorp because it believes gold prices will rise, CEO Gary Goldberg says. Goldberg sees an opportunity to optimize Goldcorp's assets during a period of relatively low gold prices and consolidation. Newmont Mining NEM 's $10 billion purchase of Goldcorp G-CA does not mean the metals miner is making a bullish call on gold, according to CEO Gary Goldberg.
Goldcorp's (GG) gold production for the fourth quarter of 2018 was 25% higher sequentially. Also, the company achieves previously announced production and cost guidance for 2018.
Newmont Mining NEM has announced the acquisition of fellow senior producer Goldcorp GG , which would form the largest single gold miner in the world. Under the announced terms of the deal, Goldcorp shareholders will receive 0.3280 Newmont share and $0.02 in cash for each Goldcorp share they own, which represents a 17% premium on each company's 20-day volume-weighted average price before the announcement. In addition, Newmont has shown some recent operational successes with acquired assets, so it may be able to add better performance to the struggling Goldcorp.
Gold bugs have had a tough few years, but recent developments are getting them buzzing again. On Monday, Newmont Mining agreed to acquire Canadian rival Goldcorp for $10 billion in stock, creating the world’s largest gold miner. The tie-up comes just a few months after Barrick Gold’s merger with Randgold—creating what will now be the world’s No. 2 miner.
Per the deal, Newmont's (NEM) shareholders will own roughly 65% and Goldcorp shareholders will own around 35% of the combined entity.
In October, Goldcorp shares fell to their lowest since 2002 after the miner reported lower output and higher costs than expected. The merged company will have the world’s largest production and reserve base, and the kind of liquidity and diversified assets required to attract institutional investors, Stephen D. Walker, an analyst with RBC Capital markets, wrote in a research note.
“Holy camoly, I missed out on a great opportunity!” is how Bristow described anyone not involved in Barrick Gold Corp.’s purchase of Randgold Resources Ltd. in September. With Newmont Mining Corp. poised to become the No. 1 producer through a $10 billion takeover of Goldcorp Inc. announced Monday, the pressure on those left behind will be even greater. The newly combined companies are also expected to put several unloved assets up for sale, leaving lots of room for maneuvering by those that missed out on the dealmaking so far.
Newmont Mining Corp. agreed to buy rival Canadian gold producer Goldcorp Inc. in a $10 billion, all-stock deal, creating the world’s largest gold miner. The deal intensifies a consolidation wave triggered in part by languishing prices and dwindling supplies of easy-to-find gold, and comes on the heels of another gold-mining blockbuster: Barrick Gold Corp.’s agreement in September to buy Randgold Resources for $6 billion in an all-share merger. If Newmont consummates the Goldcorp deal, the new company, set to be based in Denver, will surpass Toronto-headquartered Barrick—its longtime rival—in production, a key industry metric.
The nation's largest utility says it is filing for Chapter 11 bankruptcy because it faces at least $30 billion in potential damages over the catastrophic wildfires in California that killed scores of people and destroyed thousands of homes. The move will allow Pacific Gas & Electric Corp. to hold off creditors and continue operating while it tries to put its finances in order. Eddie Lampert plays several often-conflicting roles in what could be the final chapter for the 132-year-old company.
Moody's Investors Service ("Moody's") says Newmont Mining Corporation's (Newmont -- Baa2, stable) announcement that it will acquire Goldcorp Inc. (Goldcorp - Baa3, RUR Up ) in a share-for-share merger valued at $10 billion is credit positive. The company will be renamed Newmont Goldcorp.
David Garofalo is eligible to collect at least $6.9 million, including as much as $4.6 million in severance and $464,000 in pension and benefits if he’s dismissed as chief executive officer of Goldcorp Inc. as a result of the planned merger, according to data compiled by Bloomberg. Newmont will pay a 17 percent premium to the 20-day weighted average share price of Goldcorp in a deal valued at $10 billion, creating the world’s largest gold miner.
reached an agreement to acquire Goldcorp Inc. Goldcorp shares were up 7.2% on Monday. Stocks fell on Monday, Jan. 14, the second consecutive day of declines, as surprisingly weak trade data from China added yet another level of concern over the health of the world's second-largest economy and added more pressure on the slow-moving trade talks between Washington and Beijing.
said Monday that it's agreed to an all-share takeover of Goldcorp Inc. With the inclusion of debt, the enterprise value of the deal is pegged at around $12.5 billion, with Newmont holding around 65% of the combined entity. "This combination will create the world's leading gold business with the best assets, people, prospects and value-creation opportunities," said Newmont CEO Gary Goldberg.
Moody's Investors Service ("Moody's") today placed the ratings of Goldcorp Inc., consisting of its Baa3 long term issuer rating and Baa3 senior unsecured rating, under review for possible upgrade. This follows the announcement that the company is being acquired by Newmont Mining Corporation (Baa2 stable) through a 100% stock transaction. The review for possible upgrade will consider 1) the likelihood of closing, 2) Newmont's strategy for the combined companies, and 3) the financial and legal structure of the two companies, including Newmont's plans for Goldcorp's debt.
This round of consolidation — Newmont’s move follows a Randgold Resources Ltd. deal with Barrick Gold Corp. announced in September — puts me in mind of the mega-mergers in the oil industry 20 years ago. Back then, there was a flurry of deals to create supermajors like Exxon Mobil Corp. With oil prices having collapsed in 1998, the industry saw self-help in the form of cost-cutting and high-grading of portfolios as the path to redemption — and it was (aided by an enormous rally in oil, of course). Gold is down roughly a third from its 2011 peak, but has traded sideways for much of the past five years.
NEW YORK, Jan. 14, 2019 -- Bragar Eagel & Squire, P.C. is investigating potential claims against the board of directors of Goldcorp Inc. (NYSE: GG) on behalf of.
Newmont Mining said it will buy smaller rival Goldcorp for 10 billion, becoming the world's biggest gold producer, just as gold reserves are declining. Fred Katayama reports.