|Bid||37.59 x 3000|
|Ask||37.71 x 3200|
|Day's Range||37.55 - 38.66|
|52 Week Range||29.06 - 41.23|
|Beta (3Y Monthly)||-0.22|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 5, 2019|
|Forward Dividend & Yield||0.56 (1.44%)|
|1y Target Est||46.24|
The three-week blockade by community activists cut gold, silver and other production, the Greenwood-Village-based mining giant says.
Hedge funds and other investment firms that we track manage billions of dollars of their wealthy clients' money, and needless to say, they are painstakingly thorough when analyzing where to invest this money, as their own wealth also depends on it. Regardless of the various methods used by elite investors like David Tepper and David […]
Newmont Goldcorp said on Wednesday a blockade that began on Sep. 14 at its Penasquito gold mine in Mexico in northern Zacatecas state has been lifted, though operations remained temporarily suspended. The blockade hit Penasquito's third-quarter production by some 11,000 gold ounces, 1.7 million silver ounces, 13.7 million pounds of lead and 22.8 million pounds of zinc, the world's biggest gold producer said in a statement. "The company continues to work closely with the federal and state governments toward a sustainable, long-term solution, and lifting of the blockade paves the way for the government-sponsored dialogue to resume," Newmont Goldcorp said.
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) confirmed that the illegal blockade of the Peñasquito mine in Mexico was lifted yesterday. The Company continues to work closely with the federal and state governments toward a sustainable, long-term solution, and lifting of the blockade paves the way for the government-sponsored dialogue to resume. In order to protect people, assets, and the long-term viability of the mine, operations at Peñasquito had been safely suspended since the illegal blockade began on September 14.
Deutsche Bank argues that while the miner has underperformed, there are catalysts on the way that investors shouldn’t discount. It raised its rating to Buy from Hold.
Newmont Goldcorp Corporation today announced it will report third quarter 2019 operations and financial results before the market opens on Tuesday, November 5, 2019 and will hold a conference call at 11:00 a.m.
(Bloomberg) -- Tom Palmer took the helm at the world’s largest gold miner shortly after bullion had its longest streak of quarterly gains since 2011. Now investors are looking to partake of that windfall.But before shareholders get their piece of the pie, the new chief executive officer at Newmont Goldcorp Corp. will have to face the challenge of melding the assets from the recently completed mega-merger with Goldcorp Inc.Newmont’s shares have trailed its peers, even with gold’s meteoric rise that took the metal to a six-year high of $1,557.11 an ounce last month. The stock’s rally this year is just less than a third of the pace of gains posted by its closest rival Barrick Gold Corp., which also sealed a massive merger deal.“Tom has to bring in the Goldcorp assets and get them up operating to a level that they expected,” Joe Foster, a portfolio manager and strategist at VanEck, said in a telephone interview. With “gold prices at $1,500, this company is going to be generating a lot of cash. I hope shareholders would see the benefits of that, with higher share prices and increasing dividends.”Palmer, 52, inherited the baton from Gary Goldberg for a company saddled by growing pains as it integrates Goldcorp assets, including Red Lake -- the project with the highest production cost in Newmont’s portfolio. Those challenges dragged Newmont’s adjusted second-quarter profit to just about half of what analysts were expecting.“Our focus is to deliver value from our Goldcorp assets through proven methodologies,” Palmer said in a phone interview on Tuesday, his first day on the job. “Newmont has proved itself to be a successful turnaround story, so we’re going to extract value from our existing portfolio based upon that track record.”Newmont has cut costs by more than a third from their peak in 2013 through early 2016, helping the company navigate through the bear market in gold and putting it in a better position to reap the gains from the ensuing rally in bullion prices.“Essentially the portfolio is ready,” John Bridges, a New York-based research analyst at JPMorgan Chase & Co., said by phone. “All he has to do is to work through the cost-cutting at their existing operations and use the release of that cash to advance their various projects,” he said of Palmer, who spent two decades at Rio Tinto Group, the world’s second-largest mining company, before joining Newmont.Foster of VanEck, the fourth-largest Newmont shareholder, is confident Palmer will be a good CEO. “It’s going to be a smooth transition,” Foster said. The portfolio manager is hopeful the company will deliver “not just a token dividend but something substantial with a yield of 2% to 4%.”In his first interview since assuming the role of CEO, Palmer said the priority for excess cash will be to maintain capital allocation discipline. That means the first focus will be paying down debt, then funding projects, and finally increasing dividends.Palmer has also been easing back from a plan to sell off assets any time soon. While the company said it would try to sell Red Lake, a mine in Canada, the new CEO has previously said he’s in “no rush” to proceed with the divestment of as much $1.5 billion in assets announced earlier in the year. On Tuesday, he said he plans to maintain flexibility in future M&A.Palmer may pursue tag-on acquisitions to optimize the portfolio or acquisitions adjacent to land they want to develop, JPMorgan’s Bridges said.The new CEO has seen the cycles turn. Born in Broken Hill, an inland mining city in New South Wales, Australia, Palmer’s parents, grandparents and great grandparents all worked in the mining industry, according to a Newmont presentation. His daughter, a mining engineer, is set to join the industry next year.Palmer was named Newmont’s chief operating officer in May 2016. Since the Goldcorp merger, he has played a central role in leading the Goldcorp integration, Newmont said last month, as well as the establishment of a joint venture with Barrick in Nevada.“Global uncertainty has made even the generalist investors wanting to have some gold exposure,” Bridges said. “They’re not gold specialists, they just want companies that give them gold exposure and don’t keep them up at night.”\--With assistance from Aoyon Ashraf.To contact the reporters on this story: Vinicy Chan in New York at firstname.lastname@example.org;Steven Frank in Toronto at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A blockade shutting down a Mexican gold mine is hamstringing operations that Newmont Goldcorp predicts can be made hundreds of millions of dollars more valuable after it’s running again. The shuttering of the 6,500-employee gold mine complex has attracted the attention of Mexico’s president. It’s also delaying what Newmont Goldcorp’s new CEO Tom Palmer says is the most important opportunity for improvement among the six mines the company acquired in its $10 billion megadeal acquiring Vancouver-based Goldcorp.
When Newmont Goldcorp sought a new leader, it would’ve been difficult find someone whose resume matched the giant miner’s needs better than Tom Palmer. The Greenwood Village-based gold company (NYSE: NEM) is folding six international mines into its business after a $10 billion deal buying Canada’s Goldcorp. It’s looking to extend to the new mines a culture of safety and operational improvement that Palmer helped shape as an executive under his predecessor, Gary Goldberg, who retired from being CEO after seven years leading the business to become the world’s largest gold producer.
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) today announced that the Borden mine near Chapleau, Ontario has achieved commercial production safely, on schedule and within budget.
THUNDER BAY, ON , Sept. 27, 2019 /CNW/ - Premier Gold Mines Limited (PG.TO) (PIRGF) ("Premier", "the Company") is pleased to announce that processing of ore has commenced from the El Nino Mine at the Company's 40%-owned South Arturo Mine. South Arturo is located in the Carlin Trend, Nevada and is a joint venture between Premier and Nevada Gold Mines ("Nevada Gold"), a joint venture company owned by Barrick Gold Inc. (ABX.TO) and Newmont-Goldcorp (NEM) with Barrick Gold Inc as operator. The El Nino mine was developed on-time and on-budget, with ore now being processed ahead of schedule. Gold production is expected to ramp up in H2-2019, with a first gold bar pour having been held on September 26, 2019 (see figure 2).
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Newmont Goldcorp Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
As the S&P 500 trades near record highs in 2019, Goldman Sachs says that a select group of reasonably priced, high-ROE growth stocks will lead the market in the coming months. Goldman says this superior performance will occur despite major pressure on ROE at most companies. "While stocks with low volatility and strong balance sheets still trade more than 2 standard deviations expensive relative to the past 10 years, stocks with high returns on capital carry more reasonable valuations," said Goldman in its latest US Weekly Kickstart report.
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) and dignitaries from across Ontario inaugurated the Borden Gold Project (Borden), Ontario’s ‘mine of the future.’ The 100 percent owned Borden mine is located near Chapleau, Ontario and features state-of-the-art health and safety controls, digital mining technologies and processes, and low-carbon energy vehicles – all anchored in a mutually beneficial partnership with local communities. Borden is expected to achieve commercial production in the fourth quarter of this year.
Stocks have soared in 2019, yet some of the biggest ETFs are seeing net outflows or slow growth as investors shift to smaller and more focused funds.
The world's top gold producer, Newmont Goldcorp, said on Wednesday it had offered $25 million in community investments and land rental fees to resolve a conflict at its Penasquito gold mine in Mexico, but activists said they are unsatisfied. "We have made a very generous offer of social investment, but the blockade leaders are demanding hundreds of millions of dollars in cash for themselves," said Michael Harvey, director of external relations for Newmont Goldcorp Mexico. Felipe Pinedo, a local leader who has helped organize blockades of the mine in the past, denied Harvey's allegation in a phone interview with Reuters.