NEM - Newmont Goldcorp Corporation
| Previous Close | 40.90 |
| Open | 41.10 |
| Bid | 40.68 x 2200 |
| Ask | 40.70 x 800 |
| Day's Range | 40.57 - 41.18 |
| 52 Week Range | 29.77 - 41.23 |
| Volume | 2260835 |
| Avg. Volume | 6,277,103 |
| Market Cap | 33B |
| Beta (3Y Monthly) | -0.05 |
| PE Ratio (TTM) | 12.09 |
| EPS (TTM) | 3.37 |
| Earnings Date | Feb 19, 2020 - Feb 24, 2020 |
| Forward Dividend & Yield | 0.56 (1.40%) |
| Ex-Dividend Date | 2019-12-04 |
| 1y Target Est | 47.10 |
- GuruFocus.com
Charles de Vaulx's Top 5 Buys of the 3rd Quarter
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- Investor's Business Daily
IBD Rating Upgrades: Newmont Mining Shows Improved Relative Price Strength
A Relative Strength Rating upgrade for Newmont Mining shows improving technical performance. Will it continue?
- Zacks
Gold Mining Stocks' Near-Term Prospects Shine Bright
Gold Mining Stocks' Near-Term Prospects Shine Bright
- Zacks
Newmont (NEM) Up 3.9% Since Last Earnings Report: Can It Continue?
Newmont (NEM) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
- Zacks
5 Gold Stocks to Add Glitter to Your Portfolio in December
Uncertainties related to the United States-China trade talks, global economic slowdown and downbeat view for key sectors are triggering demand for gold.
- Business Wire
Newmont Ranked Top Miner in Newsweek’s List of America’s Most Responsible Companies
Newmont Ranked Top Miner in Newsweek’s List of America’s Most Responsible Companies
- GlobeNewswire
White Gold Corp. Stakes Strategic Claims in White Gold District, Yukon & Management to Provide Corporate Update Webinar Focusing on Titan Discovery Today at 4PM EST
White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the "Company") is pleased to announce it has staked three strategic claim blocks (Kodiak, Kirkman & Tea) totaling 689 mining claims (the “Claims”) contiguous to the Company’s White Gold property, Newmont Goldcorp Inc.’s (TSX: NGT, NYSE: NEM, “Newmont”) Coffee project and Western Copper & Gold’s (TSXV: WRN, NYSE: WRN) Casino project, all located in the prolific White Gold District, Yukon, Canada. The claims further extend the Company’s land package to the south, with Kodiak & Kirkman claim blocks located approximately 10km south of the Company’s White Gold deposit and 10km to the north of Newmont’s Coffee deposit, and the Tea claim block located contiguous to the Coffee project to the south.
- Reuters
Gold miners flash the cash in biggest deal binge in a decade
TORONTO/LONDON, Dec 4 (Reuters) - Gold miners look set to extend a deal spree after notching transactions worth a record $30.5 billion this year, according to data, the biggest M&A binge since bullion prices peaked nearly a decade ago. Led by top producers Newmont Goldcorp Corp and Barrick Gold Corp, miners are bulking up to replace dwindling reserves and win back investors who in recent years shunned the sector because of disappointing returns. Gold topped $1,900 per ounce in 2011 and currently trades around $1,484, after hitting a six-year high in September.
- Zacks
Newmont Goldcorp Announces Stock Repurchase Plan Worth $1B
Newmont Goldcorp's (NEM) latest move is in line with its disciplined capital allocation priorities.
- Investor's Business Daily
14 Stocks Rally On Trump's China Trade Bombshell
Some S&P; 500 stocks are thriving after President Trump's bombshell that trade talks with China are stalled. The market is showing its trade-war favorites.
- Zacks
Newmont Goldcorp (NEM) Provides 2020 and Long-Term View
Newmont Goldcorp's (NEM) outlook highlights steady gold production and continued investment in its operating assets as well as potential growth prospects.
- Bloomberg
China’s Zijin Wins Over Canadian Miner With a Rare Cash Offer
(Bloomberg) -- Cash is king and will be hard to top by a rival bidder, according to the head of Continental Gold Inc. which agreed to a C$1.37 billion ($1 billion) takeover offer from China’s largest listed producer of mined gold.Continental’s shares rose as much as 11% in Toronto on Monday after the offer from Fujian-based Zijin Mining Group Co. was announced. That’s in contrast to Kirkland Lake Gold Ltd., whose shares plunged 17% on Nov. 25 after it made an all-stock $3.7 billion takeover bid for Detour Gold Corp.“Cash bids are very rare in the gold mining space and we delivered one,” Ari Sussman, chief executive officer of Toronto-based Continental, said in a phone interview on Monday. Only a handful of gold miners would be able to pull it off, he said.The deal is the latest in a flurry of consolidation in the mining industry. Barrick Gold Corp. took over Randgold Resources Ltd. and Newmont Mining Corp. acquired Goldcorp Inc. last year and smaller miners are hurrying to keep up and stay in the game.Speculation has long-brewed that Continental was a takeover target. Sussman said he started shopping the company after Newmont’s acquisition of Goldcorp in January, figuring that Newmont, which owns 18.4% of Continental, would have its hands full with Goldcorp and be looking to get rid of non-core assets.Zijin will pay C$5.50 a share for Continental and said Newmont was supportive, according to a statement. The deal will give Zinjin control of Continental’s Buritica gold project in Colombia, which is currently being developed. Continental share were trading at C$5.36 at 1:55 p.m. in Toronto, up almost 10%.“There were obviously multiple levels of interest” for Continental, Sussman said. In terms of possible rival bid, he thinks “Anything is possible but it’s tough to beat the bid number.”The takevover by a foreign company will need Canadian government approval and relations between the two countries have been tense of late with China holding two Canadians in prison and Canada holding the CFO of Huawei Technologies Co. on an extradition order from the U.S.Last year, Prime Minister Justin Trudeau’s government blocked a proposed C$1.2 billion ($934 million) takeover of construction firm Aecon Group Inc. by a unit of China Communications Construction Co. citing security concerns associated with Chinese investment.It “would be very far-fetched” to have any pushback for this deal, Sussman said. “Maybe that question would have been more valid if our asset was in Canada,” he added. “This is more China coming to Colombia as governments are supportive of each other.”Steven Butler, an analyst at GMP Securities Ltd., said the value of the deal was less than hoped for but he doesn’t see a superior offer for Continental forthcoming “given the geopolitical risk associated with Colombia, the potential working capital-funding risk and the all-cash nature of the deal.” Sussman thinks it’s a good time to sell as risks build heading into production.“Look at the laundry list of companies which have gone into production in last five years and look at the challenges they faced,” he said. “We thought this would be the right time, for someone with deep pockets, to take over our excellent team.”To contact the reporter on this story: Aoyon Ashraf in Toronto at aashraf7@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, ;David Scanlan at dscanlan@bloomberg.net, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- MarketWatch
Newmont sets $1 billion stock buyback program, which could represent about 3% of the shares outstanding
Newmont Goldcorp Corp. said Monday it has set a $1 billion stock repurchase program, to be completed in the next 12 months. Based on Friday's stock closing price of $38.40, the program implies the buyback of up to 26 million shares, or about 3.2% of the shares outstanding. The stock rose 0.3% in morning trading. The gold miner also said Monday that it expects 2020 attributable gold production of 6.7 million ounces at an all-in sustaining cost of $975 per ounce, compared with the FactSet gold production consensus of 6.98 million ounces. Gold futures were down 0.6% at $1,463.60 an ounce in early trading. Longer term, Newmont expects attributable gold production of between 6.5 million to 7.0 million ounces through 2024. Newmont's stock has rallied 11.1% year to date, while the VanEck Vectors Gold Miners ETF has run up 28.0% and the S&P 500 has climbed 25.3%.
- Business Wire
Newmont to Repurchase up to $1 Billion of Stock
Newmont (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced its Board of Directors has unanimously approved the authorization of a stock repurchase program for up to $1 billion of common equity to be completed in the next 12 months.1 The program will be executed at the Company’s discretion, utilizing open market repurchases to occur from time-to-time throughout the authorization period. The Company’s stock repurchase program aligns with its disciplined capital allocation priorities, which include returning cash to shareholders, investing in profitable growth and maintaining an investment grade credit profile. All shares repurchased will be retired, resulting in immediate accretion to shareholders by reducing total shares outstanding and improving per share financial performance.
- Business Wire
Newmont Commits to Sale of Stake in Continental Gold to Generate $260 Million in Cash Proceeds
Newmont (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced it has entered into a contractual arrangement to support Zijin Mining Group’s bid to acquire Continental Gold Inc. (Continental) by selling its 19.9 percent equity stake and its convertible bond for $260 million. With the announced sale of Red Lake for $375 million, the Company expects to realize $635 million in total cash proceeds when the transactions close in the first quarter 2020.
- Bloomberg
China’s Zijin to Buy Canada’s Continental Gold for $1 Billion
(Bloomberg) -- Zijin Mining Group Co. agreed to buy Continental Gold Inc. in a deal worth C$1.37 billion ($1 billion), marking the second takeover in as many weeks of a Canadian gold miner.Zijin will pay C$5.50 a share in cash for Continental and said major shareholder Newmont Goldcorp Corp. was supportive, according to a statement on Monday. The offer reflects a 29% premium to the share price from the past 20 days.The company, China’s biggest listed producer of mined gold, has been making deals across the world in recent years as it looks to bolster its exposure to gold and copper. The acquisition would give Zijin control of the Buritica gold project in Colombia, which is currently being developed. Output at Zijin Mountain, China’s top gold mine which the producer is named for, is dropping because of depleting resources. The deal comes just a week after Canada’s Kirkland Lake Gold Ltd. agreed to buy Detour Gold Corp. for $3.7 billion, furthering an M&A spree that’s swept the gold mining industry.There’s been constant speculation about gold mining acquisitions after huge deals rocked the industry in the last year: Newmont Mining Corp.’s acquisition of Goldcorp Inc. and Barrick Gold Corp.’s takeover of Randgold Resources Ltd. The two combinations created companies that dwarf the rest of the industry and mean that smaller miners feel the need to consolidate if they’re going to stay relevant to shareholders.To contact the reporter on this story: Thomas Biesheuvel in London at tbiesheuvel@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Liezel HillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Business Wire
Newmont Provides 2020 and Longer-term Outlook
Delivering stable production and improving costs through 2024
- Zacks
Newmont Goldcorp (NEM) Invests in GT Gold, Increases Stake
Newmont Goldcorp's (NEM) latest financing deal supports the proposition that Saddle North gold-rich copper porphyry discovery has the potential to become a Tier 1 asset.
- GlobeNewswire
GT Gold Announces a C$8.3 Million Investment by Newmont Goldcorp Corporation
GT Gold Corp. ("GT Gold" or the “Company”) (GTT.V) is pleased to announce a C$8.3 million financing by Newmont Goldcorp Corporation (“Newmont Goldcorp”) (NYSE: NEM, TSX: NGT). The financing is a private placement of 6,877,199 common shares priced at $1.20 per share for total consideration of $8,252,638.80. Upon completion of the financing, Newmont Goldcorp will own 14.9% of GT Gold’s outstanding shares, an increase from the 9.9% acquired by Newmont Goldcorp on May 29, 2019.
- American City Business Journals
Newmont Goldcorp sells Canadian gold mine for $375 million
Newmont Goldcorp is selling a mine in Canada to Australian gold company Evolution Mining Ltd. for $375 million cash, and the deal's total could grow if more gold is found there. Denver-based Newmont (NYSE: NEM) announced the sale of its Red Lake, Ontario, mine complex saying the company could use the money, and the sale allows the mining giant to focus on other areas it owns. “This transaction both strengthens our balance sheet and provides ongoing exposure to new discoveries at Red Lake,” said Tom Palmer, Newmont president and CEO.
- Insider Monkey
Hedge Funds Have Never Been More Bullish On Newmont Goldcorp (NEM)
Amid an overall bull market, many stocks that smart money investors were collectively bullish on surged through November 22nd. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 52% and 49% respectively. Our research shows that most of the stocks that smart money likes historically generate strong risk-adjusted returns. […]
- Zacks
Newmont Goldcorp to Sell Red Lake Complex to Evolution Mining
Newmont Goldcorp (NEM) plans to use the proceeds for capital allocation priorities.
- Reuters
UPDATE 1-Australia's Evolution Mining to buy Canadian gold mine from Newmont Goldcorp
Australia's Evolution Mining Ltd on Tuesday agreed to buy Canadian gold mining complex Red Lake from Newmont Goldcorp Corp for $375 million in cash. "Red Lake is an under-capitalised asset which, through a committed investment in development and exploration, is intended to become a cornerstone asset in the Evolution portfolio," said Jake Klein, Evolution's executive chairman. Newmont said in a statement that the sale was part of its efforts to streamline its asset base.
- Reuters
Australia's Evolution Mining to buy Canadian gold mine from Newmont Goldcorp
"Red Lake is an under-capitalized asset which, through a committed investment in development and exploration, is intended to become a cornerstone asset in the Evolution portfolio," said Jake Klein, Evolution's executive chairman. Newmont said in a statement that the sale was part of its efforts to streamline its asset base. The deal follows the top global gold miners Newmont and Barrick Gold Corp's decision to focus on their best performing mines, which had prompted expectations of mine sales around the world.
- Business Wire
Newmont Goldcorp Successfully Reaches Agreement to Sell Red Lake -- $375 Million in Cash Plus Up To $100 Million in Contingent Payments
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) has continued to streamline its asset base by entering into a binding agreement to sell the Red Lake complex in Ontario, Canada to Evolution Mining Limited (Evolution). Upon closing of the transaction, expected in the first quarter of 2020, Newmont will receive $375 million in cash and contingent payments of up to an additional $100 million tied to new resource discoveries. “This transaction both strengthens our balance sheet and provides ongoing exposure to new discoveries at Red Lake,” said Tom Palmer, President and Chief Executive Officer.
