|Bid||31.40 x 800|
|Ask||31.41 x 3200|
|Day's Range||30.80 - 31.45|
|52 Week Range||29.06 - 40.03|
|Beta (3Y Monthly)||-0.28|
|PE Ratio (TTM)||70.68|
|Forward Dividend & Yield||0.56 (1.80%)|
|1y Target Est||N/A|
Pure Gold, a Canadian miner looking to develop a high-grade gold project in Ontario, will start trading on the London Stock Exchange on Tuesday as it seeks to broaden its investor base and tap a larger pool of capital. The decision to take a dual listing in London comes as Canadian investors shun junior miners, preferring the buzz and growth potential of cannabis and cryptocurrency stocks, and will be closely watched by rivals in Toronto. Darin Labrenz, chief executive of Pure Gold, said Canada’s miners were facing a big structural shift in funding, which also reflected the increasing popularity of passive investing and exchange traded funds.
Friedland is in advanced talks with BHP, Newmont Goldcorp Corp. and Areva SA, that will see him move to develop the Nimba deposit on Guinea’s border with Liberia, said the people, who asked not to be identified as the talks are private. Mick Davis, who is seeking to develop a neighboring iron ore mine through his Niron Metals vehicle, is also interested in the project, according to people familiar with the situation. Friedland also declined to comment.
Iamgold’s plans could still change and there’s no guarantee it would succeed in selling itself, the people said. A representative for Iamgold declined to comment. Shares of Iamgold closed up 9.4%, valuing the company at about C$1.6 billion ($1.2 billion).
Canada's Iamgold Corp is exploring a possible sale of all or parts of the gold miner business, Bloomberg reported on Thursday, citing people familiar with the matter. The company, which has four operating gold mines, is working with advisers and has been in talks with several potential buyers, according to the report. Iamgold was not immediately available for comment.
Looking at the last time stocks crashed 20% last year suggests some trends of what might be more defensive stocks.
Gold miners offer more leverage to rising gold prices, typically gaining more than spot on flight-to-safety trading days. For investors looking for a gold play on the S&P 500, there was only one option. Rival Barrick Gold Corp. -- which bears the ticker ‘‘GOLD’’ -- rose 2.6%, about the same amount as newly merged Newmont Goldcorp (2.5%), but is not listed on the S&P 500.
Stocks that moved substantially or traded heavily on Monday: Teva Pharmaceuticals Ltd., down $2.13 to $12.23 The company allegedly conspired with other generic drugmakers to inflate and manipulate prices, ...
Gold and Miners Gain as Trade War Fear Makes a ComebackUS-China trade war escalatesThe US-China trade war just got more dangerous. After some optimism last week with the two sides appearing to approach some sort of agreement, markets seem to have
Newmont Goldcorp Corp. (NEM), Walgreens Boots Alliance Inc. (WBA), UBS Group AG (UBS), and Halliburton Co. (HAL) have declined to their respective three-year lows.
The gold sector has been anticipating a wave of asset sales in the wake of Barrick’s $5.4 billion acquisition of Randgold and a second mega-merger that created Newmont Goldcorp Corp. The newly combined giants were expected to put several unloved mines up for sale, leaving lots of room for maneuvering by company executives who have missed out on the dealmaking. “It’s not a fire-sale, it’s a considered process,” Bristow said in a separate interview with Bloomberg TV. The objective is for the sale process to be well advanced by mid-2020, Barrick said in its first-quarter earnings statement, its first results since its acquisition of Randgold was completed.
With gold bottoming my call is to buy Newmont up to its 200-day SMA at $32.37. Comex gold futures are above their 200-day simple moving average at $1,255.8 and I expect Newmont to catch up. Newmont is not cheap as its P/E ratio is 22.68 with a dividend yield of 1.87%, according to Macrotrends.
Barrick Gold, the world’s second largest gold producer, said its targeting $1.5bn in asset sales by 2020 to streamline its production and focus on its largest mines following its deal to acquire London listed producer Randgold. Barrick, which acquired the Africa focused miner at the beginning of the year, said it had identified assets that did not meet its “strategic filters.” They would be sold by mid-2020 raising $1.5bn Mark Bristow, the chief executive said. “This is not a fire sale — we will do that in a considered manner,” Mr Bristow said.
Gold prices have endured an up-and-down 2019 that has seen the yellow metal surge for the first couple months before sliding to a slight year-to-date loss. Still, gold stocks - the mining companies that actually produce the shiny commodity - are worth a look right now.A little exposure to gold can help your portfolio. And one way to get that exposure is via mining companies, whose results are heavily tied to the metal's price but can also stand out from one another based on their management, operational efficiency and economies of scale.Prices, while slightly lower this year, remain well off their two-year lows set in August 2018, sitting roughly in the middle of their three-year range. Moreover, gold and gold stocks remain a hedge against market, economic and geopolitical turmoil here and abroad. Choose your catalyst: failure to reach a trade deal with China, saber-rattling on the Korean peninsula, a no-deal Brexit, new Russian incursions. Any of these could help gold regain its moxie.Here are five gold stocks to buy to take advantage of additional sparks in the yellow metal. All five stand out as some of the best operators in the space, and all do something that gold itself can't do: pay cash dividends. SEE ALSO: 50 Top Stocks That Billionaires Love
Newmont Goldcorp Corp NYSE:NEMView full report here! Summary * Perception of the company's creditworthiness is positive * ETFs holding this stock are seeing positive inflows but are weakening * Bearish sentiment is low and declining * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is low for NEM with fewer than 5% of shares on loan. Additionally, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on April 26. Money flowETF/Index ownership | NegativeETF activity is negative and may be weakening. The net inflows of $206 million over the last one-month into ETFs that hold NEM are among the lowest of the last year and appear to be slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Basic Materialsis falling. The rate of decline is significant relative to the trend shown over the past year. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. NEM credit default swap spreads are near the lowest level of the last three years and indicate the market's continued positive perception of the company's credit worthiness.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
According to GuruFocus list of 52-week lows, these guru stocks have reached their 52-week lows. The price of Walgreens Boots Alliance Inc. (WBA) shares has declined to close to the 52-week low of $54.08, which is 39.5% off the 52-week high of $86.31. The company has a market cap of $49.45 billion.
Yamana Gold (NYSE:AUY) stock fell following its quarterly report. The Toronto-based gold producer beat earnings estimates but missed on revenue. This left Yamana Gold stock falling back towards 52-week lows.Source: Shutterstock Yamana Gold has moved to stabilize its balance sheet in recent weeks. However, until the gold market sees significant upward price movements, both AUY and other gold stocks will see little traction.For its first quarter, the company reported earnings of two cents per share. This beat analyst estimates by one penny per share. AUY lost three cents per share in the first quarter of 2018.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHowever, revenues of $407.1 million missed expectations by $7.39 million. They also fell 10.5% from year-ago levels. Even worse, revenue fell short in a quarter where production exceeded analyst estimates. AUY stock fell by more than 3% in morning trading following the announcement. * 7 Energy Stocks to Buy to Light Up Your Portfolio During the quarter, Yamana Gold sold its Chapada copper and gold mine in Brazil to Lundin Mining (OTCMKTS:LUNMF) for over $1 billion. As our own Will Ashworth points out, this allows Yamana to bring down its $1.793 billion debt burden. Yamana Gold Is a Proxy for Gold PricesI agree with my colleague that this sale strengthens the balance sheet of AUY stock. Does it make AUY a buy? I'm not so sure.On the surface, the forward price-to-earnings (PE) ratio of around 14.9 appears reasonable. It looks even better when traders factor in predicted earnings increases. Wall Street expects profit growth to average about 40% per year over the next five years.Still, such forecasts tend not to guide gold stocks. Historically, Yamana Gold stock and the equities of peers such as Newmont Goldcorp (NYSE:NEM) and Lundin Mining tend to become proxies for gold prices. Unfortunately for Yamana Gold investors, gold prices have seen little traction over the last few years. AUY stock briefly surpassed $20 per share in 2012 as gold prices surged toward $2,000 per oz.However, the price of gold has not exceeded $1,400 per oz. since 2013. Consequently, it has remained range-bound since that year. Over the last 5.5 years, gold has bottomed at about $1,050 per oz. and has seen a top of around $1,375 per oz.This has left Yamana Gold stock trading in a range. As a result, the stock price trades at levels it saw in 2015. Now, with gold at around $1,275 per oz., AUY stock has traded between $2 per share and just above $3 per share for the last two years. Yamana Gold and the Looming BearGold tends to rise when investors lose confidence in the reserve currency, which remains the U.S. dollar. However, in the midst of a crisis, history shows that traders lose confidence in gold.At the height of the 2008 financial crisis, gold fell in value as investors flocked to the perceived safety of the U.S. dollar. Gold did not rise again until 2010 when investors started to want an alternative to the dollar. After about three years, the price of gold fell back to the range where it trades today.As things stand now, I don't see any catalyst that will take gold sufficiently higher. If history serves as a guide, a stock market swoon will become bearish for the dollar, and by extension, AUY stock. As long as investors retain their confidence in the dollar, neither gold nor gold stocks will break out of their respective ranges. The Bottom Line on Yamana Gold StockAfter earnings, expect little activity from AUY stock until it can rise out of its trading range. AUY sold off as the company missed revenue estimates despite increased production.On the surface, AUY looks increasingly solid. Selling the Chapada mine should reduce its debt. Moreover, the reasonable PE ratio and the high levels of profit growth predicted should presumably send Yamana Gold stock higher.Unfortunately, gold stocks tend to follow the price of gold. As gold has remained range-bound, so too has AUY stock. Even worse, no apparent catalyst has appeared that would take gold higher.If investors lost confidence in the dollar, both gold and Yamana Gold stock would become a screaming buy at current levels. However, as things stand now, things will likely get worse before conditions improve for AUY.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Energy Stocks to Buy to Light Up Your Portfolio * 10 Vice Stocks to Spice Up Your Portfolio * 7 of the Best ETFs to Buy for a Slowing Economy Compare Brokers The post Yamana Gold Stock Is Stifled By the Range-Bound Gold Market appeared first on InvestorPlace.
Gold: Analysts Are Bullish despite Weak Performance in 2019(Continued from Prior Part)BMO Capital Markets BMO Capital Markets raised its gold price forecast for 2019 0.8% to $1,293 per ounce in March. The firm is expecting gold prices to average
The gold industry is likely to see an increase in buyout deals in the near future as miners fight to attract a shrinking pool of investment capital, the chief executive of Canada's Iamgold Corp said on Wednesday. The industry's buyout frenzy was sparked earlier this year when Barrick Gold Corp and Newmont bought Randgold Resources and Goldcorp, respectively, deals that created the world's two largest gold producers. "We are going to see consolidation" in the gold industry, Stephen Letwin, Iamgold's CEO, said at the Mines & Money conference in New York.
Gold: Analysts Are Bullish despite Weak Performance in 2019(Continued from Prior Part)Deutsche BankLike many other analysts, Deutsche Bank (DB) is also bullish on gold (GLD) prospects. As reported by Barron’s, Deutsche Bank analyst Chris Terry
Newmont Goldcorp Corp said on Tuesday it had suspended payments and social programs to workers, suppliers, and villages around its Mexico's largest gold mine in response to a blockade by a contractor and members of one of the 25 communities. Newmont Goldcorp on Monday suspended operations at the Penasquito mine because of the month-long blockade. Goldcorp's 2017 Mexico operations generated operating costs, wages and benefits, community contributions and government payments of $837 million, from $1.4 billion in revenue, the company said in its most recent sustainability report.
Checking In on Gold Miners Ahead of Their Q1 2019 Results(Continued from Prior Part)Higher multiplesThe chart below compares gold miners’ forward EV[1.enterprise value-to-EBITDA multiples and forward EBITDA margins. Agnico Eagle Mines’ (AEM)
Newmont Goldcorp Corp said on Monday it plans to suspend operations at its Peñasquito mine in Mexico due to a blockade by a trucking contractor and some members of the Cedros community. The open-pit mine, in northern Zacatecas state, produced 272,000 ounces of gold in 2018, company figures show. It accounts for about 17 percent of Newmont Goldcorp's net asset value, according to Scotiabank.