NEM - Newmont Goldcorp Corporation

NYSE - NYSE Delayed Price. Currency in USD
38.44
+0.13 (+0.34%)
At close: 4:01PM EDT
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Previous Close38.31
Open38.29
Bid38.15 x 1800
Ask38.52 x 1100
Day's Range38.08 - 38.60
52 Week Range29.06 - 41.23
Volume4,616,072
Avg. Volume7,494,160
Market Cap31.517B
Beta (3Y Monthly)-0.22
PE Ratio (TTM)N/A
EPS (TTM)-0.14
Earnings DateNov 5, 2019
Forward Dividend & Yield0.56 (1.49%)
Ex-Dividend Date2019-09-11
1y Target Est47.06
Trade prices are not sourced from all markets
  • Cabot's New TECHBLAK 85 Series to Meet Sustainability Needs
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  • Is Newmont Mining (NEM) Outperforming Other Basic Materials Stocks This Year?
    Zacks

    Is Newmont Mining (NEM) Outperforming Other Basic Materials Stocks This Year?

    Is (NEM) Outperforming Other Basic Materials Stocks This Year?

  • LyondellBasell to Construct Molecular Recycling Facility
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    LyondellBasell to Construct Molecular Recycling Facility

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  • Reuters

    UPDATE 2-Barrick misses quarterly gold output estimates on Tanzania curbs

    Barrick Gold Corp, fell short of analysts' estimates for third-quarter gold production on Thursday, as lower output at its North Mara mine in Tanzania offset gains from its Randgold buy and the Nevada Gold Mines joint venture. Operations at the Canadian company's North Mara mine were hit by tax and environmental disputes, and restrictions were lifted in September after Barrick addressed concerns about seepage at the project's tailings storage facility. North Mara was operated by Acacia Mining and Barrick took full control of the miner after a British court approved its $1.2 billion takeover.

  • Newmont Goldcorp's Ahafo Mill Expansion Attains Production
    Zacks

    Newmont Goldcorp's Ahafo Mill Expansion Attains Production

    Newmont Goldcorp (NEM) expects the expansion to generate an IRR of more than 20% at a gold price of $1,200 per ounce.

  • Cabot (CBT) Boosts Advanced Carbon Portfolio With ATHLOS CNS
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    Cabot (CBT) Boosts Advanced Carbon Portfolio With ATHLOS CNS

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  • Newmont Goldcorp’s Ahafo Mill Expansion in Ghana Achieves Commercial Production
    Business Wire

    Newmont Goldcorp’s Ahafo Mill Expansion in Ghana Achieves Commercial Production

    Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) today announced that the Ahafo Mill Expansion in Ghana achieved commercial production, on schedule and within budget for approximately $175 million. Combined with the Subika Underground, which was successfully completed in November 2018, the mill expansion is expected to increase Ahafo’s average annual gold production to between 550,000 and 650,000 ounces per year through 2024, while lowering life-of-mine processing costs. “The Ahafo Mill Expansion represents our third profitable project delivered on schedule and within budget in 2019, along with the Tanami Power project in Australia and the Borden mine in Canada,” said Tom Palmer, President and Chief Executive Officer.

  • GuruFocus.com

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  • Blockade lifted, but Newmont Goldcorp waits to restart Mexican gold mine
    American City Business Journals

    Blockade lifted, but Newmont Goldcorp waits to restart Mexican gold mine

    Mexican trucking workers and community activists lifted a blockade that led the world’s largest gold producer to idle a large mine, but the mining company hasn’t restarted production there. Greenwood Village-based Newmont Goldcorp. The mining company shut down operations at the massive open-pit Peñasquito Mine on Sept. 14 after people from a nearby community used light trucks to cut off access on a road to the mine.

  • Hedge Funds Have Never Been This Bullish On Newmont Goldcorp Corporation (NEM)
    Insider Monkey

    Hedge Funds Have Never Been This Bullish On Newmont Goldcorp Corporation (NEM)

    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's Penasquito Mine Illegal Blockade Lifted
    Zacks

    Newmont Goldcorp's Penasquito Mine Illegal Blockade Lifted

    The blockade that affected the mine's production output in Q3 will likely hurt Newmont Goldcorp's (NEM) 2019 results.

  • TheStreet.com

    Blockade at Newmont Goldcorp Mine in Mexico Ends

    The world's biggest gold miner said it's working with the federal and state governments to resolve disputes with opponents.

  • Reuters

    UPDATE 1-Blockade lifted at Newmont Goldcorp Mexico mine; 11,000 oz gold output hit

    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.

  • Business Wire

    Newmont Goldcorp Confirms Illegal Blockade Lifted at Peñasquito Mine in Mexico

    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.

  • Why Newmont Goldcorp (NEM) Stock Might be a Great Pick
    Zacks

    Why Newmont Goldcorp (NEM) Stock Might be a Great Pick

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  • Barrons.com

    Buy Newmont Goldcorp Stock Because There Is a ‘Value Opportunity in the Stock’

    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.

  • GuruFocus.com

    European and US Markets Decline Sharply on Wednesday

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  • Business Wire

    Newmont Goldcorp announces Third Quarter 2019 Earnings Call

    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.

  • Newmont’s New CEO Plans to Dispense More Discipline Than Cash
    Bloomberg

    Newmont’s New CEO Plans to Dispense More Discipline Than Cash

    (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 vchan91@bloomberg.net;Steven Frank in Toronto at sfrank9@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Exclusive: Newmont Goldcorp sees $250M improvement potential in blockaded Mexican mine
    American City Business Journals

    Exclusive: Newmont Goldcorp sees $250M improvement potential in blockaded Mexican mine

    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.

  • Newmont Goldcorp CEO: Here's how we plan to set up decades of gold production
    American City Business Journals

    Newmont Goldcorp CEO: Here's how we plan to set up decades of gold production

    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’s Borden Mine Achieves Commercial Production
    Business Wire

    Newmont Goldcorp’s Borden Mine Achieves Commercial Production

    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.

  • Ore Processing Commences at Premier's El Nino Mine
    CNW Group

    Ore Processing Commences at Premier's El Nino Mine

    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).