|Bid||50.66 x N/A|
|Ask||51.10 x N/A|
|Day's Range||50.17 - 51.38|
|52 Week Range||40.01 - 54.87|
|Beta (3Y Monthly)||-0.04|
|PE Ratio (TTM)||15.08|
|Forward Dividend & Yield||0.73 (1.47%)|
|1y Target Est||N/A|
The S&P 500 Index is a market-capitalization-weighted index of the 500 largest publicly traded companies in the U.S. It is widely considered as the best gauge of large-cap U.S. equities. Some of the largest companies in the index include Microsoft Corporation (MSFT), Apple Inc.
Some of the top gold mining operations include companies like Barrick Gold Corp. (ABX) and Newmont Goldcorp Corp. (NEM). As represented by the VanEck Vectors Gold Miners ETF (GDX), gold stocks have dramatically outperformed the S&P 500, returning 42.6% in the trailing 12-month period as compared with 17.0% for the S&P. All figures are as of November 15, 2019. Here are the gold stocks in the S&P 500 with the lowest 12-month trailing price-to-earnings (P/E) ratio in the sector.
Barrick Gold has kicked off its asset disposal programme with the sale of a stake in one of Australia’s biggest gold mines. The Toronto-listed company has agreed to sell its 50 per cent share in the Kalgoorlie “super pit” to Saracen Mineral for $750m. Barrick is looking to sell non-core assets following a flurry of deals over the past year, including the $6bn purchase of Randgold Resources.
(Bloomberg) -- Saracen Mineral Holdings Ltd. is nearing a deal for Barrick Gold Corp.’s share of the Kalgoorlie Super Pit gold mine in Western Australia, according to people familiar with the matter.Perth-based Saracen prevailed over a number of other bidders with an offer that values the 50% stake in the mine at about $750 million, the people said, asking not to be identified discussing confidential matters. Talks could still fall apart and there is no guarantee a deal will be reached, the people said.Spokespeople for Barrick and Saracen couldn’t be immediately reached for a comment.Buying Barrick’s share in the giant operation in Western Australia will give Saracen exposure to an asset that was the country’s third-largest producing gold operation last year, according to industry researcher Surbiton Associates Pty. The site includes a 3.5-kilometer (2-mile) long open pit, an underground mine and processing facilities.Barrick and its key rival Newmont Goldcorp Corp. are in the process of offloading unwanted mines after major acquisitions since 2018 that have reshaped the gold sector. Newmont, which holds the remaining 50% of the Kalgoorlie Super Pit, previously targeted $1.5 billion from asset sales, though has more recently cautioned that it is under no pressure to sell.An earlier attempt by Barrick to sell its Kalgoorlie stake ended in 2017 when Shandong Tyan Home Co. said tighter controls in China on outbound investment meant it could no longer proceed with a proposed $1.3 billion deal.Since then, the Kalgoorlie asset has experienced operational challenges, including rock falls in the open pit in 2018 that have crimped production. Output declined by a third in the nine months to Sept. 30 as costs rose 40%, Newmont said in a Nov. 5 filing.The site is regarded as holding potential for further development of an underground mine and there are plans to continue gold processing into the 2030s. Barrick fielded inquiries from parties across Australia and Asia, Chief Executive Officer Mark Bristow said in September.Barrick Gold hired Credit Suisse Group AG in 2016 to advise it on Kalgoorlie.(Updates with Barrick’s adviser in last paragraph.)\--With assistance from Scott Deveau and Vinicy Chan.To contact the reporters on this story: David Stringer in Melbourne at firstname.lastname@example.org;Harry Brumpton in Sydney at email@example.comTo contact the editors responsible for this story: Fion Li at firstname.lastname@example.org, Linus Chua, Shamim AdamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
At first glance, the case for gold stocks to buy appears incredibly challenged right now. One of the biggest impediments to a rising equities market has been the U.S.-China trade war. Recently, though, both sides appear willing to negotiate. Even President Donald Trump, no stranger to angry rhetoric, appeared optimistic for a substantive trade deal.Wall Street has given Trump the benefit of the doubt, significantly hurting the case for gold stocks to buy. Both the venerable Dow Jones Industrial Average, along with the benchmark S&P 500 have charged to all-time highs. In sharp contrast, gold prices, which have looked so strong this year due to rising fear and uncertainty, have slid downward this month.But before you get too complacent, Yahoo Finance contributor Rick Newman brought up an excellent question: Why is the Street giving any credibility to Trump? As Newman bluntly put it, "There is, in fact, no trade deal with China." Further, he provides his readers with a warning from the not-so-distant past:InvestorPlace - Stock Market News, Stock Advice & Trading Tips"Last December, after meeting with Chinese President Xi Jinping, Trump said, 'It's an incredible deal. It goes down, certainly, if it happens, it goes down as one of the largest deals ever made.' If you're wondering what deal that was, well, yes -- there was no deal."Thus, I don't think the thesis for gold stocks to buy is dead. And even if a trade deal materializes, I recently presented my argument for why big banks are in trouble. Namely, the economy is nowhere near as healthy as advertised. * 10 Cheap Stocks to Buy Under $10 This pressured environment dramatically raises the profile for gold miners. Additionally, don't ignore the potential for silver stocks to buy. Newmont Goldcorp (NEM)Source: Piotr Swat/Shutterstock Under any economic condition, I believe some exposure to gold and precious metals is prudent. Going 100% into any asset class is simply asking for trouble. That said, I understand the inconveniences involved with buying physical bullion. Thus, if you're not into gold-based exchange-traded funds like SPDR Gold Trust (NYSEARCA:GLD), then Newmont Goldcorp (NYSE:NEM) and NEM stock could be right for you.With a market capitalization of $30.3 billion, NEM stock is at time of writing the biggest name among publicly traded gold stocks. And while such stability typically means that Newmont won't rise as dramatically during a gold rush, you're likely not to lose your shirt with this investment. No matter what, both gold and silver stocks are known for volatility; thus, having a safety net makes sense.Thanks to its January 2019 acquisition of Goldcorp, NEM stock offers fundamental robustness. With stronger margins and higher growth trajectories, NEM is well positioned to advantage the fear trade. That might very well come if this trade war negotiation turns out to be another head-fake. Sibanye Gold (SBGL)Source: Shutterstock One of the biggest gold stocks to buy, Sibanye Gold (NYSE:SBGL), is notable today for moving against the grain. While the spot price for the underlying yellow metal has steadily declined since the beginning of September, SBGL stock has veritably skyrocketed. Is there something in the water in South Africa where Sibanye is headquartered?We all know that Africa has very valuable natural and precious resources. Among those resources isn't just gold, but also platinum and palladium. The latter metal has enjoyed a robust performance in the markets. Currently, palladium is worth more than gold, even with a sharp drop in price. Since Sibanye is the second-largest producer of the precious metal, SBGL stock has enjoyed outsized gains. * 7 Under-the-Radar Retail Stocks to Buy Now Not only that, management has been very active in the mergers and acquisitions scene. Consolidating more companies under its umbrella, SBGL stock has a very robust growth pathway over the long run. Franco-Nevada (FNV)Source: Shutterstock Among the best performing gold stocks to buy, what most impresses me about Franco-Nevada (NYSE:FNV) is its resiliency. Several mining companies, especially the ultra-speculative silver stocks, fell sharply following the 2011 precious metals rally and subsequent collapse. While FNV stock certainly felt the heat, it didn't fold like many of its peers.A major reason why this is involves fiscal stability. Prior to the 2011 run up, many sector players got gold fever, believing prices would rise indefinitely. Unfortunately, these organizations were not prepared for the coming bearish phase, taking risks they normally wouldn't have.However, Franco-Nevada has kept its financials relatively clean. For instance, its balance sheet has very manageable debt levels compared to its cash holdings. In other words, management hasn't stretched itself, which is a positive attribute in this environment. You just never know what's going to happen next. Thus, FNV stock gives you a balanced approach between upside potential and stability. Sandstorm Gold (SAND)Source: Shutterstock A lesser-known entity among gold stocks to buy, Sandstorm Gold (NYSEAMERICAN:SAND) could eventually turn out to be a front runner. Although the low SAND stock price makes it riskier compared to its larger brethren, what investors will appreciate is the underlying company's business model.Featuring a portfolio of royalty assets, Sandstorm doesn't actually operate mining projects. Instead, it invests in companies that have a need for capital. In return, Sandstorm receives a share of the spoils. For those who are concerned about the volatility in metal prices, SAND stock may offer an ideal platform. Thanks to the royalty model, it's much easier to predict cash flows for the company. * These 7 Stocks to Buy Were Big Winners This Earnings Season That said, don't jump aboard SAND stock assuming that it has no risks. Primarily, Sandstorm has a substantial stake in the Hod Maden mine in Turkey. If this pans out, SAND is due for a massive upswing. But it's also important to consider that Turkey isn't exactly a geopolitically stable area. First Majestic Silver (AG)Source: Shutterstock While gold stocks get most of the coverage in the precious metals sector, investors shouldn't ignore silver stocks. Generally speaking, the cheaper of the pair share a strong correlation with each other: As one moves higher, so too does the other. With that in mind, those interested in mining companies should consider First Majestic Silver (NYSE:AG) and AG stock.One of the attributes about First Majestic that I found appealing is its geographic positioning. The company has 100% ownership of six mines in Mexico. Aside from being a neighboring country, Mexico has free trade agreements with multiple developed economies. More importantly for potential buyers of AG stock, Mexico features relative political and financial stability.And because the U.S. and Mexico are such close partners, the latter is truly disincentivized from acting irrationally.That said, AG stock isn't without risks. Typical of smaller silver stocks, First Majestic historically has suffered middling profitability margins, though these metrics have recently improved. Wheaton Precious Metals (WPM)Source: Shutterstock Like gold stocks, silver mining investments are wild, even more so than those companies producing the yellow metal. Because silver has both industrial and monetary components, as well as a thinner market, the supply-demand picture is unpredictable. However, Wheaton Precious Metals (NYSE:WPM) takes much of the guesswork out with its streaming business model.Like Sandstorm Gold, Wheaton Precious Metals doesn't own mining projects. Instead, it provides necessary capital for miners. Therefore, an investment in WPM stock provides broader coverage to the silver mining industry than would be possible through a traditional business model. And because of the pre-negotiated contracts, it's much easier to predict Wheaton's financial trajectory. * 7 Earnings Losers That Were Hit Hard This Season Interestingly, WPM stock has held up reasonably well following the precious metals' fallout earlier this decade. Now, it appears the tide is shifting favorably for both gold and silver stocks to buy. Don't be surprised if WPM enjoys outsized performance. Pan American Silver (PAAS)Source: Shutterstock Relative to gold stocks, the silver miners have a reputation for being high-risk, high-reward investments. However, those that value hard results with the possibility of outstanding gains should consider Pan American Silver (NASDAQ:PAAS). While silver prices have slipped badly in November, PAAS stock is up over 4% since the beginning of the month.Why? The Street took a very positive view on the company's third-quarter earnings results. Revenue came in at over $352 million, representing a year-over-year lift of nearly 88%. Moreover, Pan American delivered net income of $37.7 million, which translates to earnings per share of 18 cents. In the year-ago quarter, EPS was a loss of 6 cents.Following the results, PAAS stock benefitted from a robust session the next day.I wouldn't be surprised if we saw further gains down the road. PAAS stock was a survivor of the dark days of silver and gold stocks early this decade. With a much more favorable pathway ahead, the underlying company has the potential to pull off big surprises.As of this writing, Josh Enomoto is long all the precious metals mentioned above. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Great High-Yield Stocks With Payouts Over 5% * 10 Blue-Chip Stocks to Buy for the End of the Year * 5 Retail Stocks Getting Nothing but Coal This Holiday Season The post 7 Silver and Gold Stocks to Buy That Offer Contrarian Upside appeared first on InvestorPlace.
Plenty of companies have produced double-digit sales increases and wider margins during an otherwise dismal earnings season.
The materials sector includes companies that manufacture of raw materials which are used across many other sectors and industries. Materials stocks include manufacturers of products as varied as plastic, fertilizer, paper, concrete, metals, and more. Some prominent names in the materials sector include fertilizer producer Mosaic Company (MOS) and paper product maker Mercer International Inc. (MERC).
Gold prices have fallen to their lowest level in three months, hurt by rising global interest rates and the recent strength in the U.S. dollar. Gold was down $9.45, to $1,459 an ounce Friday, leaving it almost $100, or 6%, below its high in early September of $1,552. The drop in gold prices has hit gold mining shares with the exchange-traded fund (GDX) down 15 cents to $26.34 Friday.
(Bloomberg) -- Bullion giant Barrick Gold Corp. pleasantly surprised the market by raising its dividend 25%. Will the move portend a new era of largess from the normally tightfisted gold miners?There are certainly reasons for investors to be hopeful. Producers have been striving to cut costs and consolidate operations, while the price of gold has climbed over 20% in the past year to hover around $1,500 an ounce. Barrick’s move Wednesday was echoed a few hours later when Canadian rival Kirkland Lake Gold Ltd. raised its quarterly payout 50%. B2Gold Corp. preceded both by announcing its first-ever dividend a day earlier.“The companies are positioned to start to pay dividends and give more back to shareholders,” Joe Foster, a portfolio manager and strategist at VanEck, said by phone Wednesday. “It happens to coincide with the rising gold price, so you’re getting to see more aggressive moves on the dividends front than we would have seen if gold was $100 or $200 lower.”Gold miners trimmed costs following the sharp decline of the metal’s price toward the start of the decade. Barrick and B2Gold are both expecting costs this year to come in at or below the lower end of company guidance.Barrick rose Wednesday in New York trading, ending the day up 2.2%. The shares were down 0.4% at 9:24 a.m. pre-market on Thursday as gold prices fell. Kirkland Lake gained 2.8% in Toronto Wednesday, while B2Gold climbed 4%.Not all producers have embraced increased payouts this earnings season. On Tuesday Newmont Goldcorp Corp., the world’s largest gold producer, held its dividend steady as it grapples with integrating problematic assets acquired in its mega-merger with Goldcorp Inc.In an interview after assuming the role of chief executive officer Oct. 1, Newmont’s Tom Palmer used a common phrase in the gold industry: capital allocation discipline. For Palmer, that means the first focus will be paying down debt, then funding projects, and finally increasing dividends.A disciplined approach should continue to translate to shareholder returns, says Stephen Walker, RBC Capital Markets’ head of global mining research.“Shareholders have been asking companies to be more disciplined,” Walker said by phone Wednesday. “The ability to return a portion of excess capital to shareholders” is evidence of their improved cost performance, he said.(Updates with shares in fifth paragraph.)To contact the reporter on this story: Justina Vasquez in New York at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Steven Frank, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Newmont Goldcorp Corp. fell the most since January as prices of the metal slid and the miner reduced its full-year production forecast amid glitches at assets acquired in its merger with Goldcorp Inc.Shares of the world’s largest gold-mining company fell 4.7% to $37.06 at 11:28 a.m. in New York. The stock dropped as much as 5.8%, the most intraday since Jan. 14. Bullion prices also weighed on shares, with the metal heading for its biggest loss in more than a month.Production is expected to be 6.3 million ounces in 2019, Newmont said in its third-quarter earnings statement on Tuesday. The miner had said last month it expects output of 6.5 million ounces. The outlook was affected by snags at Goldcorp assets, including blockades at the Penasquito mine in Mexico and a conveyor fire at Musselwhite in Canada.The projection may fuel investor concerns over the mega-merger. Chief Executive Officer Tom Palmer took the helm last month, inheriting a company saddled by growing pains as it integrates Goldcorp assets. Those challenges dragged Newmont’s adjusted second-quarter profit to just about half of what analysts were expecting.For the third quarter, the company reported adjusted earnings of 36 cents a share, missing the average analyst estimate of 37 cents.“We are cautious on Newmont due to headwinds from asset integration of the underperforming Goldcorp assets, which we believe will outweigh positive news flow from potential synergies,” CIBC analysts including Anita Soni said in a note.\--With assistance from Vinicy Chan.To contact the reporters on this story: Laura Millan Lombrana in Santiago at email@example.com;Aoyon Ashraf in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Luzi Ann Javier at email@example.com, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of Newmont Goldcorp fell Tuesday after third-quarter earnings for the world's largest goldminer missed analysts' expectations. Earnings adjustments included a gain on the formation of Nevada Gold Mines, transaction costs associated with the Newmont Goldcorp transaction, tax and valuation allowance adjustments, changes in the fair value of investments, and reclamation and remediation charges, Newmont Goldcorp said. Nevada Gold Mines is a joint venture between Newmont Goldcorp and Barrick Gold, which officially began July 1.
Newmont Goldcorp missed Wall Street estimates for quarterly profit due to higher costs and the world's biggest gold miner cut its annual output target on Tuesday as production remained suspended at one of its largest mines in Mexico. The company said it expects attributable production for the year to be 6.3 million ounces, down from a prior forecast of 6.5 million ounces. The gold miner had said in October a blockade that had restricted production and exports of lead and zinc concentrates from its Penasquito mine in Mexico has been lifted, though operations still remained suspended.
After a difficult 2018, gold stocks are poised to rebound this year and as the ‘peak gold’ narrative grows stronger, there are 5 gold stocks that every investor should keep an eye on
Some of the highest-earning CEOs of Colorado public companies hold degrees from Ivy League schools. But they're far from the norm.
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.
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 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 […]