|Bid||49.84 x 2200|
|Ask||49.95 x 900|
|Day's Range||48.34 - 49.59|
|52 Week Range||29.77 - 49.59|
|Beta (5Y Monthly)||0.14|
|PE Ratio (TTM)||12.97|
|Earnings Date||Apr 22, 2020 - Apr 26, 2020|
|Forward Dividend & Yield||0.56 (1.16%)|
|Ex-Dividend Date||Mar 03, 2020|
|1y Target Est||48.66|
Surging gold prices propelled miners Newmont Corp and Kirkland Lake Gold Ltd to beat estimates for quarterly profit on Thursday as industry consolidation began to bear fruit for long-suffering shareholders. Gold prices marked their best annual increase since 2010 last year and are currently above $1,600 per ounce, as concerns over global economic health, low interest rates and geopolitical tensions triggered investor interest in safer assets. Newmont, Kirkland and others have snapped up rivals in a flurry of deals to replace reserves and lower costs, and are now rewarding investors by hiking payouts and buying back shares.
(Bloomberg) -- Newmont Corp. climbed after the world’s largest gold miner reported earnings that beat analysts’ expectations, helped by a tailwind from higher bullion prices.Miners have been sharing the windfall from stronger prices with investors in the form of higher dividends. Newmont led the pack in January with its promise of a 79% hike to $1 per share annually. The increase will take effect later in the year.Newmont is considering “other shareholder friendly actions” it might take in the future, Chief Financial Officer Nancy Buese said Thursday on the fourth-quarter earnings call. A key such action “will be to determine our appropriate level of dividend on a go forward and sustainable basis,” she said.Newmont rose as much as 6.1%, the most intraday in almost a year, while an index of senior gold miners gained as much as 1.1%. Newmont was trading up 4.2% as of 10:58 a.m. in New York, increasing its gains in the past 12 months to 36%.Adjusted fourth-quarter earnings were 50 cents a share on revenue of $2.97 billion, the Greenwood Village, Colorado-based miner said in its earnings statement. That beat analysts’ estimates for 46 cents and sales of $2.93 billion.The company’s production and cost guidance over the next five years was unchanged, solidifying its lead over rival Barrick Gold Corp.Spot gold averaged about $1,483 an ounce in the fourth quarter, 21% more than a year earlier. The metal has extended gains this year to trade above $1,600 as the coronavirus weighs on expectations for economic growth, fueling investor demand for haven assets.The rise in gold prices helped mitigate higher cost of sales at the assets it acquired through its $10 billion merger with Goldcorp Inc. last year.(An earlier version corrected revenue and the revenue estimate in sixth paragraph)To contact the reporter on this story: Danielle Bochove in Toronto at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Steven Frank, Reg GaleFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Gold-mining giant Newmont Corp. will replace its human-driven dump trucks with self-driving haulers at a massive mine in Australia next year. The Greenwood Village-based company (NYSE: NEM) projects spending $150 million to introduce more than two dozen massive, self-driving haulers made by Peoria, Illinois-based Caterpillar Inc. at Newmont's Boddington gold mine in 2021. It will be the first use of autonomous haulers at an open pit gold mine the world, the company said Wednesday.
Newmont (NEM) delivered earnings and revenue surprises of 4.17% and -4.46%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Pan American Silver, Iamgold, Newmont Mining and Kirkland Lake reported earnings. PAAS stock broke out Wednesday as silver and gold prices jump on coronavirus fears.
Loncor Resources Inc. ("Loncor" or the "Company") (TSX: "LN"; OTCQB: "LONCF") is pleased is pleased to provide an update on its activities within the Ngayu Greenstone Belt, where the Company has a dominant foot-print through its joint venture with Barrick Gold (Congo) SARL (“Barrick”) and on its own majority-owned exploration licences and exploitation concessions including the Imbo exploitation concession. The Ngayu Archean Greenstone Belt of northeastern Democratic Republic of the Congo (the “DRC”) is geologically similar to the belts which host the world class gold mines of AngloGold Ashanti/Barrick’s Kibali mine in the DRC and AngloGold Ashanti’s Geita mine in Tanzania.
The COVID-19 virus outbreak has certainly made investors uneasy, and the idea of a deadly global pandemic is cause for concern. One traditional safety trade for investors is to buy gold or gold mining ...
Newmont (NEM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Gold has long been regarded as a safe haven in times of market turmoil. Many investors have gained exposure to the gold industry by buying stocks of companies engaged in the exploration and mining of the precious metal.