|Bid||38.48 x 1800|
|Ask||38.49 x 1800|
|Day's Range||37.97 - 38.74|
|52 Week Range||29.06 - 38.74|
|Beta (3Y Monthly)||-0.34|
|PE Ratio (TTM)||86.32|
|Earnings Date||Jul 25, 2019|
|Forward Dividend & Yield||0.56 (1.49%)|
|1y Target Est||40.99|
Newmont Goldcorp Corporation today announced it will report second quarter 2019 operations and financial results before the market opens on Thursday, July 25, 2019 and will hold a conference call at 10:00 a.m.
If we are indeed entering a major bull market for the metal then savvy investors should consider buying smaller cap gold mining stocks rather than either the metal itself or the larger miners. The easiest way to do that via the VanEck Vectors Junior Gold Miners exchange-traded fund , which tracks a basket of smaller, so-called junior gold mining firms. Weak Dollar, Strong Gold Part of the recent surge in the price of gold is because the dollar is weakening.
Gold prices have shot up 6.7% in June, and could be getting ready to head higher. Exchange-traded funds offer an easy way to bet on rising gold prices.
(Bloomberg) -- China National Gold Group Corp., the nation’s second-biggest miner of the metal, is studying a bid for a stake in Canada’s Iamgold Corp., people familiar with the matter said. Iamgold shares jumped the most in more than four years.The state-owned gold miner is working with financial advisers on the potential offer, the people said, asking not to be identified as the information is private. Iamgold is exploring a possible sale of all or part of the company and has spoken to several potential buyers, Bloomberg News reported last month.The Toronto-based firm’s decision to explore a sale follows several sizable mergers in the industry, including Newmont Mining Corp.’s acquisition of Goldcorp Inc. and Barrick Gold Corp.’s deal for Randgold Resources Ltd.Iamgold’s shares were 6.8% higher at close in Toronto trading, giving the company a market value of $1.5 billion. The shares earlier gained as much as 18%, the biggest intraday increase since December 2014.Gold prices have been on the rise as investors seek havens amid slowing global growth. Bullion for immediate delivery jumped to the highest in more than five years on Thursday after the U.S. Federal Reserve indicated a readiness to cut interest rates.China National Gold is the largest shareholder of China Gold International Resources Corp., listed in Hong Kong, and Shanghai-traded Zhongjin Gold Corp. No final decisions have been made and China National Gold may still decide against an offer, the people said.A representative for China National Gold didn’t respond to requests for comment. A representative for Iamgold declined to comment.The relationship between China and Canada remains tense after the arrest of Huawei Technologies Co. Chief Financial Officer Meng Wanzhou in Vancouver last December on an American extradition request.More than 80% of Iamgold’s revenue comes from outside Canada, with major operations in South America and Africa, according to data compiled by Bloomberg.(Updates Iamgold share price move in fourth paragraph.)\--With assistance from Winnie Zhu, Danielle Bochove and Michael Hytha.To contact the reporters on this story: Dinesh Nair in London at firstname.lastname@example.org;Scott Deveau in New York at email@example.comTo contact the editors responsible for this story: Fion Li at firstname.lastname@example.org, ;Liana Baker at email@example.com, Ben ScentFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Barrick Gold (NYSE:GOLD) has been coming back to life in recent weeks. While GOLD stock was flirting with a fall below $11.50 just a few weeks ago, it's now trying to hold onto a potential breakout over $14. Is this 23% rally in just a few weeks too much, or is Barrick Gold stock set to continue running?Source: Bullion Vault via Flickr (Modified)Simply put, GOLD stock generally acts as a proxy to gold prices. When uncertainty, fear and recession worries climb, often times the yellow metal does too. Currently, there's a lot of that going around. Rates, Rates, RatesEven though stocks are near all-time highs and the labor market is strong, worries about a recession persist. The odds of a recession are on the rise, increasing the probability, but far from guaranteeing an economic retreat. Those odds are based on the yield curve. As the curve compresses, it raises the odds for a recession. When it inverts it has an eerie ability to foreshadow a recession.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThese trends get more complex when considering the Fed's role alongside global central banks. Because the global economy has maintained such low rates, it's created immense demand for longer-dated U.S. Treasury bonds. They are safer from a credit perspective and have a far more attractive yield than all of its peers. For instance, why buy a French 10-year bond with a slightly lower rating yielding close to 0%, when you can buy a 10-year Treasury yielding ~2.1% right now? * 7 Top-Rated Biotech Stocks to Invest In Today While U.S. rates are historically low, they are high a global basis at the moment.That's driving long-term rates down at a time where the Fed was raising rates, helping to fuel an inversion. Now, odds call for a rate cut. And in fact, not just one but several. The market is pricing in a 94% chance that the Fed cuts rates by its September meeting. Investors are pricing in an almost 50% chance of two cuts by the same meeting.Wow. Valuing Barrick Gold StockSo what does all of that have to do with Barrick Gold stock? A lot, actually.If the Federal Reserve cuts rates, it could give a boost to gold prices. That's as it weakens the U.S. dollar and causes commodities to rise. Think of a company like Exxon Mobil (NYSE:XOM) or Chevron (NYSE:CVX) when oil prices catch a boost. The same can happen for GOLD stock.As long as there are worries -- think: trade war or recession related -- they could also act as catalyst for gold prices.As it relates to GOLD stock, analyst estimates aren't bad, but are far from robust. Analysts expect revenue to grow 14.5% this year to $8.3 billion. Earnings are expected to grow 8.6% to 38 cents per share. That leaves GOLD stock with a price-to-earnings ratio in the mid-30s, which is not exactly value territory.At the start of the year, Barrick completed its merger with Randgold Resources. This formed a $25 billion precious metal conglomerate. However, it didn't take long for the new entity to pursue Newmont Mining (NYSE:NEM). Newmont rejected the bid, and the two eventually decided on a joint-venture partnership instead. But it's clear that GOLD management has margin improvement and synergies in mind. * Stocks to Buy for $20 or Less Even with $5.5 billion in long-term debt and $2.15 billion in cash, GOLD stock has a solid balance sheet. The fact that investors can collect any kind of dividend yield is nice too, given that they don't receive any income from gold. Currently that yield is about 1.1%. Barrick is far from a mega-income generator, but it's better than nothing Trading Gold Stock Price Click to EnlargeSo where do we stand in all of this? Barrick Gold stock has decent but not great growth, a good balance sheet and a so-so, earnings-based valuation. But at the end of the day, it's a gold miner and that means it depends on the price of gold to drive its share price. It's worth pointing out that GOLD stock tends to outperform gold during the good times, but underperforms during the bad times.That's no surprise to anyone that follows the VanEck Vectors Gold Miners ETF (NYSEARCA:GDX) or the VanEck Vectors Junior Gold Miners ETF (NYSEARCA:GDXJ). These follow a similar pattern when tracking against the SPDR Gold Trust ETF (NYSEARCA:GLD).With GOLD stock price, we can see that shares broke out over range resistance at $14. Shares ran up to almost $14.50, where Barrick Gold stock topped out at in March. The trade now is simple -- and simple is good.Over $14 and investors can stay long the breakout. Below $14 and GOLD stock may need to reset. Perhaps that's with a test of the 20-day moving average. Maybe it's the 50-day. It may even fall back into its prior range and probe the range lows near $11.50 to $12.But over $14 could get us a run to $15 and possibly much higher should gold prices really take off.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Value Stocks to Buy for the Second Half * 7 Hot Stocks to Buy for a Seemingly Sleepy Summer * 6 Chip Stocks Staring At Big Headwinds in 2019 Compare Brokers The post Is Barrick Gold Stock Must-Buy Recession Insurance? appeared first on InvestorPlace.
Newmont Goldcorp said on Monday it had resumed shipping concentrate from the Peñasquito gold mine in Mexico after a blockade by a trucking contractor and some members of the Cedros community was lifted. Delivery of supplies to the site have also resumed, Newmont said, adding that the downtime from the suspension was used to bring forward maintenance on some systems and equipment. It accounts for about 17 percent of Newmont Goldcorp's net asset value, according to Scotiabank.
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) is safely ramping up operations at the Peñasquito mine in Mexico following the lifting of an illegal blockade and the establishment of a dialogue process sponsored by the national government. Newmont Goldcorp is committed to good-faith dialogue with the trucking company and the San Juan de Cedros community (one of 25 neighboring communities) to achieve a fair and enduring resolution to contract and water availability issues. Peñasquito has enhanced water availability to neighboring communities through a number of projects including water treatment plants, new wells, pipelines and water trucks.
This year is expected to be a harvest year for Agnico Eagle Mines (AEM), as many of its projects are expected to come online. Its Meliadine and Amaruq locations remain on schedule to begin production in the third quarter of 2019.
Among senior and intermediate gold miners (GDX), Newmont Goldcorp (NEM) has the second-highest forward enterprise value-to-EBITDA multiple of 8.1x.
Newmont Goldcorp’s (NEM) AISC (all-in sustaining costs) for the first quarter was $845 per ounce, which implies a fall of 4% compared to the same quarter last year.
Among the 17 analysts currently covering Newmont Goldcorp (NEM), 71% have “buy” ratings on the stock and 12% have “sell” ratings on the stock.
In the first quarter, Newmont Goldcorp (NEM) produced 1.23 million ounces, an increase of 1.7% YoY and a decline of 14.6% sequentially.
Does Newmont Goldcorp Look Attractive after Q1 Results?Newmont Goldcorp’s price performanceNewmont Goldcorp (NEM) has gained 4.4% YTD as of June 10, slightly outperforming the SPDR Gold Shares (GLD), which has returned 3.4% in the same period.
In the wake of two mega-mergers that have reset the gold industry, one small detail has delighted Mark Bristow, Barrick Gold Corp.’s chief executive officer: His company’s ability to secure the rights to trade its stock under the ticker GOLD in New York. Barrick and newly merged Newmont Goldcorp Corp. are in a race to lure back generalist investors who fled the gold sector years ago.
The country that led global gold production for a century and extracted about half the bullion mined to date is now Africa’s second-largest gold producer. Meanwhile Ghana, a country whose gold-mining industry dates back to the 19th century, is benefiting from lower-cost mines, friendlier policies and new development projects. South African industry stalwarts AngloGold Ashanti Ltd. and Gold Fields Ltd. are shifting their focus to other countries -- including Ghana -- where deposits are cheaper and easier to mine.
should be a core holding in a diversified investment portfolio. My call is to allocate 10% of your investment portfolio into a gold mining stock and Newmont is closely correlated to the price pattern for the Comex gold futures contract. The weekly chart for gold futures shows that the precious metal is poised for a breakout and Newmont will follow.
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 […]