2.2600 +0.06 (2.73%)
After hours: 7:49PM EDT
|Bid||2.2100 x 4000|
|Ask||2.2400 x 317700|
|Day's Range||2.1300 - 2.2600|
|52 Week Range||2.0000 - 3.2300|
|Beta (3Y Monthly)||0.37|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.02 (0.77%)|
|1y Target Est||3.92|
What’s in the Cards for Newmont Mining’s Q1 Results?(Continued from Prior Part)Analysts’ expectations Analysts expect Newmont to report revenues of $1.83 billion for the first quarter. This estimate implies growth of 0.5% year-over-year. Its
Management believes the company will shine brightly in 2019. Will the first quarter indicate that the company is on its way to making that vision a reality?
I don't know if the management team at Yamana Gold (NYSE:AUY) thought about the ramifications of selling its Chapada copper and gold mine in Brazil other than substantially reducing its debt. However, it's impossible not to think AUY stock will be affected by the move. Source: Shutterstock In a good way. InvestorPlace - Stock Market News, Stock Advice & Trading TipsAUY is now more attractive to potential suitors. Here's why. The Details of the SaleLundin Mining (TSX:LUN) is the company that bought Chapada. It is paying $800 million in cash for the mine with as much as an additional $125 million based on the price of gold, and another $100 million payment for fulfilling a couple of other considerations. You can read about the specifics here. Who is Lundin Mining? * 7 Tech Stocks With Too Much Risk, Not Enough Upside It's a Toronto-based company with a market cap twice the size of Yamana's. It produces mostly base metals like copper, zinc, and nickel. In 2019, Lundun Mining's production guidance for gold was just 4%. The Chapada acquisition adds 59,000 tonnes of copper and 121,000 ounces of gold. Yamana had plans to expand the gold production at the mine. Lundin's expected to focus on growing the copper production. Lundin's on the lookout for assets to buy; Chapada nicely fits the bill. For Yamana, the cash will lower its debt from $1.7 billion to approximately $900 million, reducing its debt as a percentage of its market cap, from 77% before the sale to 43% after. Yamana Production Post-ChapadaWith the sale of the copper-gold mine, Yamana becomes a pure-play precious metals company, with 2019 gold equivalent output (85% gold, 15% silver) of 1 million ounces, increasing to 1.02 million ounces in 2020 and 2021. Not only does Yamana's balance sheet get stronger, but its free cash flow could also benefit from the deal. It expects its annual capital expenditures to fall by approximately $47 million over the next three years despite committing an additional $25 million annually to exploration. The company's focus for its individual mines is annual production of at least 130,000 ounces, which gives it the size and scale necessary to make the mine worthwhile from a capital investment and profitability perspective. After Chapada, it will have seven out of eight mines producing at least this amount with its Minera Florida gold and silver mine in Chile expected to go over the minimum once it carries out further exploration activities at the site. The Bottom Line on AUY StockThe sale of Chapada makes it both a hunter with the financial wherewithal to buy assets from struggling miners, and an attractive M&A candidate to bigger precious-metal producers such as Agnico Eagle Mines (NYSE:AEM) and others searching for growth. My InvestorPlace colleague discussed the M&A situation in February:This is what Aaron Levitt wrote:"For investors, this creates an interesting scenario. Already, many gold stocks have moved higher over the last year as prices for the precious metal have increased, profitability has improved and the situation in the sector isn't so dire…But now, with the majors starting to wheel and deal, and the middle tier firms being forced to think about acquisitions as well, the whole sector should start to trade at a bit of a buyout premium. This is sort of exactly what happened back in 2006/2007 when the last round of major gold stock M&A happened."I can't say what's going to happen to AUY stock tomorrow or the day after.What I do know is that long term, Yamana's sale of Chapada puts AUY stock in a much better light. At current prices, if a gold play is your thing, I'd say buy away. If it drops below $2, I'd buy some more. In this case, addition by subtraction makes Yamana a better buy. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Stocks With Too Much Risk, Not Enough Upside * 7 Companies That Are Closing the CEO-Worker Wage Gap * 7 Video Game ETFs That Will Make You a Winner Compare Brokers The post Recent Moves by Yamana Gold Put AUY Stock High up on the Buy List appeared first on InvestorPlace.
HENDERSON, NV / ACCESSWIRE / April 17, 2019 / Gold is expected to garner safe-haven interest as investors look to protect themselves against an impending recession, according to Joe Foster, Portfolio Manager ...
Shares of Yamana Gold Inc. (AUY) fell 2.73% to $2.49 per share on Monday after the Canadian miner announced it agreed to sell its Chapada open-pit, gold-copper mine in Brazil to L undin Mining Corp. (LUN.TO) for more than $1 billion. While the sale of Chapada, one of the company's main assets, will shrink total equivalent gold production by 12% to 15%, shareholders will benefit from share price appreciation. Warning! GuruFocus has detected 2 Warning Signs with AUY.
Yamana Gold (AUY) 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.
Canada's Lundin Mining Corp is looking to buy more mining assets, Chief Executive Marie Inkster told Reuters on Monday, after the company announced its purchase of a Brazilian copper-gold mine from Yamana Gold Inc for more than $1 billion. The Toronto-based company is seeking a project where exploration is complete, which it can take over and build, Inkster said. Lundin prefers a copper asset, but would also consider a zinc poly-metallic mine, with nickel a distant third option, she said.
Will Yamana’s Chapada Mine Sale Improve Shareholder Returns?(Continued from Prior Part)Dividends to doubleYamana Gold (AUY) announced today that it has agreed to sell its Chapada mine to Lundin Gold (LUNMF) for $1 billion. Due to this
Will Yamana’s Chapada Mine Sale Improve Shareholder Returns?Yamana Gold sells Chapada mine Today, Yamana Gold (AUY) announced that it has agreed to sell its fully owned Chapada mine to Lundin Gold (LUNMF) for $1 billion. Chapada is primarily a
Why Is Deutsche Bank Bullish on Gold?Gold price performance Gold prices (GLD) have risen 0.5% YTD (year-to-date) as of April 12—compared to the gain of 16.1% in the S&P 500 Index (SPY). The Dow Jones Industrial Average Index (DIA) and the
TORONTO, April 15, 2019 -- YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or the “Company”) is pleased to announce it has agreed to sell the wholly-owned Chapada mine (the.
TORONTO, April 08, 2019 -- YAMANA GOLD INC. (TSX: YRI; NYSE: AUY) (“Yamana” or “the Company”) will release its first quarter 2019 operational and financial results after market.
How Gold and Gold Miners Performed in Q1(Continued from Prior Part)Agnico Eagle Mines and IAMGOLD Among senior and intermediate gold miners (GDX) (GDXJ), analysts are most bullish on Agnico Eagle Mines (AEM). It has 83% “buy” and 17% “hold”
How Gold and Gold Miners Performed in Q1(Continued from Prior Part)Eldorado Gold’s significant outperformance Eldorado Gold (EGO) significantly outperformed its peers (JNUG) (GDXJ) as well as gold (GLD) in the first quarter with a gain of 60.8%.
How Gold and Gold Miners Performed in Q1(Continued from Prior Part)Yamana and Agnico Eagle Yamana Gold (AUY) and Agnico Eagle Mines (AEM) outperformed the Gold Miners Index (GDX) and gold (GLD) in the first quarter of 2019, gaining 10.6% and 7.7%,
How Gold and Gold Miners Performed in Q1(Continued from Prior Part)Newmont’s underperformance Newmont Mining (NEM) stock returned 3.2% in the first quarter, almost half the gains in the VanEck Vectors Gold Miners ETF (GDX) in the same period. It
How Gold and Gold Miners Performed in Q1Gold’s first-quarter performance Gold prices (GLD) gained just 0.6% in the first quarter compared to the gain of 13% in the S&P 500 Index (SPY) and the gains of 11.1% and 16.5%, respectively, recorded by
Wall Street Is Loving these Five Gold Stocks Lately(Continued from Prior Part)Analysts’ recommendationsAccording to the consensus compiled by Thomson Reuters, 69% of analysts covering Yamana Gold (AUY) have recommended “buys” on its stock
Wall Street Is Loving these Five Gold Stocks Lately(Continued from Prior Part)Analysts’ ratings for Agnico Eagle MinesCurrently, 18 analysts are covering Agnico Eagle Mines (AEM), as per the consensus compiled by Thomson Reuters. AEM’s stock
Can Kinross Gold Stock Rise above Its Issues in 2019?(Continued from Prior Part)Analysts’ recommendations for Kinross GoldOf the 20 analysts covering Kinross Gold (KGC) as per the consensus compiled by Thomson Reuters, 40% have given it “buy”
HENDERSON, NV / ACCESSWIRE / March 13, 2019 / With most of the headlines focused on Barrick and Newmont, it'd be easy to miss all the big news from smaller gold stocks with high upside. Below are a few ...
Newmont-Goldcorp Merger: What to Expect from Combined Company(Continued from Prior Part)Production Goldcorp’s (GG) production for the fourth quarter came in at 630,000 ounces of gold, a YoY decline of 2.5%. A large part of the decline in production