|Bid||36.30 x 2900|
|Ask||37.50 x 900|
|Day's Range||35.83 - 37.63|
|52 Week Range||29.06 - 41.98|
|Beta (3Y Monthly)||-0.32|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 20, 2019 - Feb 25, 2019|
|Forward Dividend & Yield||0.56 (1.62%)|
|1y Target Est||40.00|
TORONTO—Barrick Gold Corp. said it is sizing up Newmont Mining Corp. for a possible deal that would unite the world’s two biggest gold producers and cap a flurry of big acquisitions in their industry. Barrick, with a market value of almost $23 billion, said on Friday it is considering an all-stock, no-premium transaction to merge with Newmont, which is valued at about $19 billion. The Toronto-based company hasn’t yet initiated discussions with Newmont, two people familiar with the matter said.
Shares of Newmont rose 3 percent to settle at $36.48 in New York, valuing the company at more than $19 billion. Barrick slipped 2.4 percent in Toronto, while Goldcorp Inc., which Newmont agreed to acquire in January, fell 4 percent. Barrick has reviewed the opportunity to merge with Newmont in an “all-share nil premium transaction,” but no decision has been taken, the company said in a statement Friday.
MELBOURNE/HOUSTON (Reuters) - Canada's Barrick Gold Corp said on Friday it considered making an all-stock bid for U.S. rival Newmont Mining Corp, a deal that would create a monolith in the global gold sector and likely push smaller peers to start buying each other. Barrick, already the world's largest gold miner, said its contemplated proposal did not offer any premium to Newmont's shareholders and that no decision had been taken so far. Newmont's shares closed Friday up 3 percent at $36.48 in New York trading.
(Reuters) - Newmont Mining Corp said on Friday it was aware that Canadian rival Barrick Gold Corp said it had studied an unsolicited buyout proposal for the company, a deal that would, if consummated, ...
The Dow Jones Industrial Average rose as Wall Street monitored reported progress in U.S.-China trade talks. plunged 27.46% Friday after the company posted a fourth-quarter loss of nearly $13 billion, said it had received a subpoena from the Securities and Exchange Commission, and planned to slash its dividend. jumped 27.9% after the online home furnishings company reported a narrower-than-expected adjusted loss in the fourth quarter and revenue of $2.01 billion that beat analysts' forecasts.
Gold M&A buzz continues, with Barrick Gold confirming it's mulling a takeover bid for Newmont Mining.
Newmont Mining Corporation (NEM) (Newmont or the Company) and Goldcorp Inc. (NYSE: GG, TSX: G) (Goldcorp) today announced that Goldcorp has obtained an interim order from the Ontario Superior Court of Justice (Commercial List) in connection with the previously announced statutory arrangement for the acquisition by Newmont of all of the issued and outstanding common shares of Goldcorp in exchange for 0.3280 of a share of Newmont common stock and $0.02 in cash for each Goldcorp common share in a transaction valued at approximately $10 billion as of the date of announcement of the transaction. Receipt of the interim order allows Goldcorp to hold its shareholder meeting on April 4, 2019 and is a necessary step toward obtaining a final order from the Court that is a condition to closing the acquisition.
In this daily bar chart of NEM, below, we can see how the price of NEM bottomed out in September-October and began an uptrend. The volume histogram shows an increase from August and the daily On-Balance-Volume (OBV) line has broken out to an impressive new high. In this weekly bar chart of NEM, below, we can see that prices have not moved very far in the last three years.
On Thursday Newmont Mining Corp. (NEM)'s closing share price of $35.41 was flat from the prior day despite the miner, driven by strong operations in Ghana and Colorado, beating analysts on fourth-quarter non-GAAP earnings per share and revenue before the opening bell. Reporting non-GAAP earnings per share of 40 cents, which was a 2.6% upside from the prior-year quarter, Newmont Mining topped expectations by 16 cents. Warning! GuruFocus has detected 3 Warning Signs with NEM.
Thornton is executive chairman at Barrick Gold Corp., the world’s second-largest gold producer. On Friday, Barrick confirmed it is considering merging with Newmont Mining Corp., the biggest producer, in an all-share zero premium deal that would be the largest ever pulled off in the gold mining industry. While Barrick said no decision has been made, such a deal would serve as an enormous victory for Thornton, an ex-Goldman Sachs banker whose appointment to the top Barrick position in 2014 without mining experience was viewed skeptically within the tight-knit Canadian mining community.
The merger reports followed a stronger-than-expected fourth quarter earnings report for Newmont late Thursday, which saw the miner post a near 8% increasing in gold production over the three months ending in December that helped it earn $214 million, or 40 cents a share, topping the FactSet consensus 25 cents a share. "We're going through a very detailed process between (Newmont President Tom Palmer) and I with a number of meetings with the Goldcorp team and with our own team as we go through that process," CEO Gary Goldberg told investors on a conference call late Thursday before reports of the Barrick interest surfaced.
Canadian gold miner Barrick Gold Corp said on Friday it has reviewed the possibility of a merger with rival Newmont Mining Corp in an all-stock transaction. The company said no decision had been taken ...
President Donald Trump and Chinese Vice Premier Liu He are expected to meet at the Oval Office later in the day. Crude prices also rose on hopes that Washington and Beijing may soon end their trade dispute.
U.S. stock futures rose on Friday, Feb. 22, and global stocks traded higher as investors continued to monitor the U.S.-China trade talks while navigating weaker-than-expected data in some of the world's biggest economies. Contracts tied to the Dow Jones Industrial Average rose 128 points, futures for the S&P 500 gained 12 points, and Nasdaq futures were up 39.75 points. China's vice premier, Liu He, is scheduled to meet with Donald Trump in the Oval Office later Friday as this week's round of trade talks winds down in Washington.
U.S. stock index futures rose on Friday on signs of progress in the ongoing trade talks between the United States and China. After several rounds of high-level discussions between the two countries, President Donald Trump and Chinese Vice Premier Liu He are expected to meet at the Oval Office later in the day.
The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy. THE GLOBE AND MAIL ** Barrick Gold Corp is mulling a takeover ...
It hasn’t even been two months since Barrick Gold Corp. and Randgold Resources Ltd. announced that their merger was “consummated,” and already Executive Chairman John Thornton appears to be checking out an old flame. Barrick has in recent months been studying a takeover bid for Newmont Mining Corp., possibly in combination with Newcrest Mining Ltd., people familiar with the matter told Ed Hammond, Danielle Bochove, Aaron Kirchfeld and Ruth David of Bloomberg News Friday. Newmont announced its own tie-up with Goldcorp Inc. last month, which you’d have expected to change the calculus somewhat.
Canada's Barrick Gold Corp has studied a bid for Newmont Mining Corp as it looks for ways to boost production, Bloomberg reported https://www.bloomberg.com/news/articles/2019-02-22/barrick-gold-said-to-have-studied-offer-for-newmont-mining?cmpid%3D=socialflow-twitter-canada&utm_campaign=socialflow-organic&utm_content=canada&utm_source=twitter&utm_medium=social ...
Kirkland Lake Gold stock surged after the firm guided upward on production growth ahead of earnings. Rival Newmont Mining edged up after an earnings beat.