|Bid||38.57 x 1400|
|Ask||38.83 x 2900|
|Day's Range||38.75 - 38.87|
|52 Week Range||29.06 - 39.49|
|Beta (3Y Monthly)||-0.08|
|PE Ratio (TTM)||87.49|
|Earnings Date||Jul 25, 2019|
|Forward Dividend & Yield||0.56 (1.43%)|
|1y Target Est||43.88|
The Zacks Analyst Blog Highlights: Northrop Grumman, Thermo Fisher Scientific, Newmont Goldcorp, Starbucks and CME
Gold investing can be a hedge in uncertain times. Here are some keys when deciding whether, when and how to buy gold stocks or a gold ETF.
Fed's rate cut will not only make cheaper funds available to businesses and stock market investors, but also U.S. dollar less expensive in the international market.
Newmont (NEM) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Newmont (NEM) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
A strong five-week rally by gold stocks and related ETFs like the SPDR Gold Trust (NYSEARCA:GLD) hit a wall two weeks ago, but it was completely reversed this past week. As it turns out, the Federal Reserve is more or less happy with where interest rates are right now, and the strong June jobs report has quashed inflation worries for now, buying the FOMC some more time.Source: Shutterstock GLD has fallen 3% from its late-June peak, while leading gold stocks like Barrick Gold (NYSE:GOLD) and Newmont Goldcorp (NYSE:NEM) have suffered similar setbacks. In short, the buying that sent gold prices up 30% beginning in early May appears to have been mistimed. * 7 A-Rated Stocks to Buy for the Rest of 2019 Before jumping to conclusions that this is just another false start for gold stocks though -- extending a multi-year streak of false starts -- it would be wise to take a step back and digest another stark reality about the use of gold as a hedge against any sort of financial difficulties. The reality is that, for better or worse, gold never actually behaves as it's "supposed to."InvestorPlace - Stock Market News, Stock Advice & Trading TipsMeanwhile, charts tend to lead views on gold rather than the other way around. Reality CheckGold is allegedly a hedge against inflation. It's also a safe haven against currency turbulence. It's also a preferred holding during economic lulls. And gold prices as well as gold stocks are often viewed as a beneficiary of falling interest rates.Finally, gold prices are expected to rise when the U.S. dollar loses value.All of these moving parts result in one overarching reality: Speculating on gold is mostly a coin toss.That's not a truth a wide swath of gold pundits agree with, though that doesn't change the facts of the matter. Specifically, the presumed relationship between interest rates and gold prices doesn't hold up. Neither does the relationship between gold and inflation. As a result, since interest rates and inflation also impact the actual value of currency, the correlation between gold and the U.S. dollar is wobbly at best.The idea of using gold as a currency hedge may hold some water, though the volatility of exchange rates can be difficult if not impossible to successfully handicap.None of this means that the basic underpinnings of all the aforementioned relationships don't hold any water. They do. I'm simply pointing out that many of the underpinnings are also impacted in unpredictable ways -- often in opposing ways -- by one or more of the other drivers of gold prices.But gold prices are still impacted primarily by speculation.Speculation controlled gold prices between 2010 and 2012, when inflation remained tame and interest rates were steady. The value of the dollar was relatively weak at the time, too, but it was also holding steady, even as gold and gold stocks soared on the presumption that the greenback would lose more value.It didn't.The failure of those factors to ever fully justify the large jump in gold prices ultimately set the stage for a big price pullback by GLD and gold stocks in 2013 and 2014. The U.S. dollar was on the mend at that point, but not to the degree suggested by the gold selloff. The Outlook of GLD and Gold StocksDon't misread my message. While the recent gold rally was thwarted by new perceptions that a rate cut isn't a foregone conclusion and the increasingly clear message that inflation isn't an issue just yet, the rebound efforts could be rekindled.The key is the shape of the chart.Based on the chart of GLD, one can see that the peak from two weeks back may have been destiny anyway. GLD's recent high near $135.50 more or less lines up with peaks from mid-2017 and early 2018. Click to EnlargeAlso note that since the late-2015 low, gold prices have managed to log a string of higher lows. Big swings between the technical floor and ceiling have been the norm, though.And those big swings haven't necessarily been in conjunction with the appropriate changes in interest rates, the dollar's value, or inflation. Assumption and speculation have continued to be responsible for most of the movement of the prices of gold stocks and of GLD.That's not necessarily a bad thing, though. Right or wrong, speculators tend to move in rather predictable patterns that become visibly evident on a chart.In this case, a slide back to the floor near the $114 area wouldn't be out of character for GLD, while a break above the recently-conformed ceiling near $136 would likely spark a melt up. Even if such a bullish thrust is in the cards though, it's unlikely to take shape without a small setback first, which will give the bulls the opportunity for another running start to punch through that resistance.Little to none of that action, of course, will actually have anything to do with the things traders like to pretend control GLD and gold stocks.In other words, if your gut is at odds with the rhetoric, don't be afraid to trust your gut.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 A-Rated Stocks to Buy for the Rest of 2019 * 7 Education Stocks to Buy for the Future of Academia * 5 Stocks to Buy as You Rebalance Your Portfolio The post If You Like Gold Stocks Now, Don't Sweat the Pessimistic Headlines appeared first on InvestorPlace.
Newmont Goldcorp has received an upgrade to Buy from TheStreet's Quant Ratings service -- another reason to be a buyer in addition to the bullish charts below. In the daily bar chart of NEM, below, we can see a choppy, mostly sideways trading range for this stock but in May the chart starts to blast higher, including an upside gap in June. Over the past twelve months the On-Balance-Volume (OBV) line rose from September to April but quickly declined in April.
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) today reported that partial underground operations at the Company’s Red Lake mine in Ontario, Canada will safely resume by Tuesday, July 9. Underground mining was proactively paused on July 3 to allow for the installation of additional controls to further protect workers in the event water entered the mine through an historic stope at the Cochenour complex which is part of Red Lake. Processing and other surface operations at the mine have continued uninterrupted and underground workers were temporarily reassigned to jobs at the mill and other surface facilities.
(Bloomberg) -- Barrick Gold Corp. is working with advisers to find a buyer for its Massawa gold project in Senegal, which it acquired as part of its purchase of Randgold Resources Ltd., people familiar with the matter said.The asset could fetch a value of about $500 million, the people said, asking not to be identified because the deliberations are private. The company aims to kick off a formal sale process shortly for part or all of its stake, the people said.Barrick is targeting $1.5 billion in asset sales through 2020 following the company’s $5.4 billion takeover of Randgold completed in January. The gold mining industry is consolidating quickly, and the biggest producers have been selling off smaller, unwanted assets as they merge.Acquisitions of gold miners are up nearly sixfold over the last 12 months to about $27 billion, according to data compiled by Bloomberg. No final decisions have been made, and there’s no certainty the deliberations will lead to a sale of the Massawa project, the people said.A spokeswoman for Barrick declined to comment.Barrick owns about 83% of the Massawa project, according to its website. The asset is located in eastern Senegal, about 700 kilometers (435 miles) southeast of the capital city of Dakar.Massawa is an an example of a project where Barrick could sell part of its stake to another miner operating nearby, Chief Executive Officer Mark Bristow said in a May interview. Other companies in the area include Toronto-listed Teranga Gold Corp. and closely held Toro Gold Ltd., Bristow said.Barrick walked away from a nearly $18 billion bid for Newmont Mining Corp. earlier this year, opting instead for a joint venture around the two companies’ Nevada mining assets. Newmont in April agreed to buy Goldcorp Inc. in a deal valued at $10 billion, becoming Newmont Goldcorp Corp. in the largest takeover of its kind.\--With assistance from Danielle Bochove and Doug Alexander.To contact the reporter on this story: Dinesh Nair in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Aaron Kirchfeld at email@example.com, Amy Thomson, Ben ScentFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
BMO analyst Andrew Kaip upgraded Barrick Gold (GOLD) from “market perform” to “outperform” and raised its target price from $14.5 to $20.0.
Newmont (NEM) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
Newmont Goldcorp and Barrick Gold’s decision to team up on a mining joint venture in Nevada may turn out to be the best thing either company has going for it at the moment.
Andrew Kaip resumed coverage of Barrick Gold and upgraded the stock from Market Perform to Outperform with a price target lifted from $14.50 to $20. Barrick's Nevada joint venture with Newmont should unlock value for Barrick, Kaip said in the Wednesday upgrade note.
Gold finally has its shine back. Yes, some folks may have abandoned gold in favor of digital gold -- bitcoin has surged several hundred percent recently. But the world's favorite precious metal is sparkling again too. Recently, the price of gold topped $1,400/oz, marking its highest level in more than five years. Gold's move has come with surprising speed as well, it's up nearly 10% over the past month.Not surprisingly, with gold surging, investors are starting to come back to a long dormant group of companies: mining stocks. Now, to be fair, most of these gold stocks are rightly ignored. As the famous adage goes, a gold mine is a hole in the ground with a liar at the top. That's true of far too many small prospecting companies.Incredibly, over the past 10 years, even with the price of gold up overall, mining stocks have gotten wrecked. The main sector ETF, VanEck Vectors Gold Miners ETF (NYSEARCA:GDX) has lost nearly half its value over the past decade. Meanwhile, the more speculative smaller gold companies fund, VanEck Vectors Junior Gold Miners ETF (NYSEARCA:GDXJ) has lost a catastrophic 67% of its value. Again, that's during a time when the price of gold went up on net, and stocks in general soared.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 F-Rated Stocks to Sell for Summer That means that it is most important to stick to quality operations when picking your gold stocks. Unlike many sectors, mediocrity generally isn't enough to drive positive performance in gold, even if the overall conditions are relatively decent. With all that in mind, what should you buy and what should avoid as gold stocks take off again? Barrick Gold (GOLD)Source: (C)iStock.com/TomasSereda One good rule for buying into an unloved sector is to buy one of the industry leaders, as long as it has a decent balance sheet. Newmont (NYSE:NEM) has been in a terrible funk since it made its questionable purchase of Goldcorp. Newmont stock has barely moved since the gold stock rally got going. That leaves Barrick Gold (NYSE:GOLD) as the next best option. With its $30 billion market cap and operations spanning many countries, Barrick is one of the world's leading diversified miners.In fact, by at least one metric, Barrick is the world's powerhouse gold mining firm. It has five of the world's ten Tier 1 mines -- defined as a mine that produces 500,000 ounces or more per year, has 10+ years of reserves left, and operates at or below the median global cost of mining. This huge number of long-life world class assets ensures the Barrick is here to stay. Regardless of where the price of gold goes, Barrick will be mining lots of gold -- profitably -- for many years to come.The company has a lot to offer investors in 2019 specifically, as well. In its first quarter, for example, Barrick showed nice leverage to the price of gold despite it having lower-cost mining operations. For the quarter, Barrick managed to boost cash from operations 27% while doubling earnings as gold production rose 8%. That's some solid results. At $16/share, GOLD stock is still well short of the $22 level it hit in 2016 on the last wave of gold stocks momentum. If gold can keep its momentum, GOLD stock should be able to revisit $22 in a hurry. Gold Stocks To Buy: Franco-Nevada (FNV)Source: Shutterstock Buying industry leaders is a good way to catch a sector as it comes out of a long slumber. However, thinking back to how poorly mining stocks in general have performed, there's another important thing to consider. That's the different between gold streaming stocks and gold mining stocks. The gold streamers act as a sort of specialty finance shop, lending money to the mining companies, and getting a cut of ensuing gold production at a (usually) fixed price.The gold streamers take on significant risks including gold price variation, delays in production, and bankruptcy of the counterparty mining firm. In return, however, the gold streamers tend to earn fat returns. Over the past decade, while mining stocks as a group lost half their value or more, streamers prospered. For example, Franco-Nevada (NYSE:FNV) quadrupled, and rival streamer Royal Gold (NASDAQ:RGLD) soared 150% over the past 10 year period while mining stocks plummeted. * 7 Stocks to Buy for the Same Price as Beyond Meat Franco-Nevada specifically, over the years, has built a huge pool of streaming assets across gold and other things. Last year, it sold nearly 350,000 ounces of gold, along with nearly 100,000 gold equivalent ounces of other metals including silver and platinum. For the year, it produced $139 million in net income off of $653 million in revenue, generating a robust profit margin. It also pays a modest dividend to shareholders -- a rarity in the gold stocks industry -- to reward its owners. Gold Stocks To Buy: Sandstorm Gold (SAND)Source: Shutterstock While Barrick Gold and Franco-Nevada will offer big upside if and when gold stocks rally more, the list wouldn't be complete without at least one potential home run pick. Enter Sandstorm Gold (NYSEAMERICAN:SAND). While the ticker may be SAND, Sandstorm is much more precious than that.The company is attractive because it is a small streaming company with several big deals in the pipeline. At the moment, it has streams on 22 operating assets, which, at a gold price of just $1,300/oz throw off more than $60 million a year in cash flow. By 2022, as new contracted assets come into play, Sandstorm's cash flow is projected to double to around $130 million per year -- again using that conservative $1,300/oz gold price number.Now, consider that Sandstorm's market cap is just $1 billion. That's something like just 7x cash flow once its new mine streams come online. Now factor it significantly higher gold prices and things get even more exciting. SAND stock is already up 50% since its November low. It could run a lot more than that if and when the gold stocks rally kicks it into next gear.At the time of this writing, Ian Bezek owned SAND and FNV stock. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 F-Rated Stocks to Sell for Summer * 7 Stocks to Buy for the Same Price as Beyond Meat * 7 Penny Marijuana Stocks That Are NOT Cheap Stocks Compare Brokers The post 3 Gold Mining Stocks Help You Dig Up Profits appeared first on InvestorPlace.
Gold prices fell below $1,400 per ounce as optimism about resumed trade talks between the U.S. and China sent investors into riskier assets.
Barrick Gold Corp said on Monday its Nevada joint venture with Newmont Goldcorp is expected to produce 1.8 million ounces to 1.9 million ounces of gold in the second half of 2019. The operations, which include 10 underground and 12 open pit mines in the southwestern U.S. state and rank as the largest global gold producing complex, had produced a total of 4.1 million ounces of gold in 2018. Barrick and Newmont agreed to form the joint venture in Nevada in March after Barrick withdrew its $18 billion offer for its rival, ending a hostile takeover bid that sought to unite the world's two largest gold producers.
The operations, which include 10 underground and 12 open pit mines in the southwestern U.S. state and rank as the largest global gold producing complex, had produced a total of 4.1 million ounces of gold in 2018. Barrick and Newmont agreed to form the joint venture in Nevada in March after Barrick withdrew its $18 billion offer for its rival, ending a hostile takeover bid that sought to unite the world's two largest gold producers.
SALT LAKE CITY, July 1, 2019 /PRNewswire/ -- Today, Barrick Gold Corporation (GOLD) and Newmont Goldcorp Corporation, formerly Newmont Mining Company (NEM) formally closed an historic joint venture 20 years in the making that creates Nevada Gold Mines LLC, the world's third-largest gold mining company behind Barrick and Newmont. Parsons Behle & Latimer, a regional law firm headquartered in Salt Lake City and Barrick's counsel for more than 30 years, played a lead role in completing the transaction.
Barrick Gold Corporation (GOLD) (ABX.TO) and Newmont Goldcorp Corporation (NEM) (TSX:NGT) have successfully concluded the transaction establishing Nevada Gold Mines LLC. The new company, owned 61.5% and operated by Barrick, and owned 38.5% by Newmont Goldcorp, was officially launched today.
Read the beginning of this article here. The most valuable position in Moab Capital Partners’ portfolio at the end of Q1 2019 was in Viad Corp (NYSE:VVI) worth $82.05 million, on the basis of 1.46 million shares outstanding. This position comprised 19.45% of the fund's portfolio. Viad Corp is an S&P SmallCap 600 company that […]
Newmont beat analysts’ EPS first-quarter analysts’ estimate of $0.27 by $0.06. Its revenue, however, missed the estimate by $10 million, coming in at $1.8 billion.