|Bid||0.00 x 800|
|Ask||0.00 x 21500|
|Day's Range||37.16 - 37.61|
|52 Week Range||31.42 - 42.04|
|PE Ratio (TTM)||425.68|
|Earnings Date||Jul 26, 2018|
|Forward Dividend & Yield||0.56 (1.46%)|
|1y Target Est||44.65|
Moody's Investors Service has affirmed the ratings on eight classes in COMM 2015-CCRE24 Mortgage Trust, Commercial Mortgage Pass-Through Certificates as follows: Cl. A-1, Affirmed Aaa (sf); previously ...
The VanEck Vectors Gold Miners ETF (GDX) has returned -2.3%, and the SPDR Gold Trust (GLD), which tracks gold’s physical price, has returned -0.2%. Kinross Gold was punished mainly because of its exposure to Russia through two of its mines.
Newmont Mining Corporation (NEM) (Newmont or the Company) welcomed Sumitomo Corporation (Sumitomo) as a new and valued partner in Minera Yanacocha SRL (Yanacocha) following its purchase of a five percent stake in the partnership. Newmont, Buenaventura and Sumitomo completed the transaction today in which Sumitomo paid $48 million for the ownership interest in Yanacocha.
Newmont Mining Corporation announced it will report second quarter 2018 operations and financial results before the market opens on Thursday, July 26, 2018 and will hold a conference call at 10:00 a.m.
Southern Copper Corp said on Tuesday that it plans to start building its proposed $2.5 billion copper mine Michiquillay in Peru next year and will likely start operations in 2022 - three years earlier than previously forecast. Southern's chief executive, Oscar Gonzalez, added that the company will need to reach detailed agreements with residents near the deposit in the northern Andean region of Cajamarca before construction can begin. "It's expected operations will start by 2022," Gonzalez told journalists after signing the Michiquillay contract with government officials.
Mean reversion can be a powerful trading tool, particularly with pair trades. One Wall Street analyst said it’s still too early to expect a mean reversion bump in underperforming Barrick Gold Corp (USA) ...
Gold prices haven't done much this year, but gold stocks have diverged quite a bit, with Barrick Gold (ABX) down some 9% since the start of 2018, while Newmont Mining (NEM) is up more than 3%. Given the stocks' relative performance, some investors may be tempted to scoop up Barrick, on the belief that it's gotten too cheap--but they should resist temptation, says Morgan Stanley's Piyush Sood. Sood argues that Barrick's underperformance looks set to continue through the rest of the year, and ahead of the company's final agreement with the government of Tanzania, he downgraded the shares to Underweight, and shaved $2 off his price target, to $12.
Goldstrike Resources Ltd. (GSR.V) (KCG1.F) (OTC PINK:APRAF) is pleased to provide an update on the 2018 drill program for its 662 km2 Plateau Property in Canada’s Yukon. The district scale drill program is fully funded by Newmont Mining Corporation (NEM) through its Canadian mining division and is forecast to include up to 10,000 meters of diamond drilling, with two drill rigs already onsite. Drilling at Plateau commenced on June 1, 2018 on a large new target generated in the Goldbank area utilizing Newmont’s proprietary technologies. In addition to using Newmont’s proprietary geochemical technologies and airborne geophysical system to generate the target, the geological team used surface mapping and the 2017 IP (induced polarization) survey which indicates the presence of a significant subsurface chargeability anomaly.
Gold and gold miners have been all over the place this year. Often, we think of gold as a safe haven and defensive play, and often it is. But sometimes it’s in its own cycle or just another asset for people to sell in times of trouble. This year, gold is playing its role as a safe haven and is up 3% during a flat and tumultuous market. But for some reason, the miners are acting more like other stocks—and, at some periods, even worse than the market. That behavior is relatively curious, especially given gold’s outperformance.
After a lengthy bear market, the prospects for beaten-down gold stocks are starting to look promising. Joe Foster, head of Morningstar’s top ranked equity precious metals fund VanEck International Investors Gold fund, cites geopolitical risk, uncertainty around the Trump presidency, potential inflationary pressure and being in the later stages of the business cycle as factors that could give gold some bullish momentum. Among some of the fund’s major holdings are B2Gold Corp. ( BTG), Newmont Mining Corp. ( NEM), Kirkland Lake Gold Ltd. ( KL), Continental Gold Ltd. ( CNL.XTSE) and Yamana Gold Inc. ( AUY).
Let’s talk about the popular Newmont Mining Corporation (NYSE:NEM). The company’s shares saw significant share price volatility over the past couple of months on the NYSE, rising to the highsRead More...
Ghana's gold output rose to 2.805 million ounces in 2017, up 10.2 percent from the previous year, data from the Ghana Chamber of Mines showed on Friday. Ghana is Africa's second largest gold producer after South Africa. Mining firms operating in the country include Newmont Mining Corporation, Gold Fields, Anglogold Ashanti and Asanko Gold.
The manager of Peru's central bank urged the government of President Martin Vizcarra on Thursday to do more to revive mining projects that have been derailed by protests. Renzo Rossini, of the central bank, said three suspended mining projects - Southern Copper Corp's Tia Maria, Newmont Mining Corp's Conga and Zijin Mining Group's Rio Blanco - would have delivered $7 billion in investments and about $500 million in annual tax revenue had they been built.
Which Gold Miners Could Show Upside Potential after Q1 2018? As precious metal prices started weakening, investors shifted their focus from high-leverage miners (GDX) (GDXJ) to low-leverage miners with sound growth plans, leading miners to trim their balance sheets. Newmont Mining’s (NEM) net debt at the end of the first quarter was ~$1 billion compared to $1.9 billion at the end of 2016.
Which Gold Miners Could Show Upside Potential after Q1 2018? Since high debt levels can strain a company’s credit rating and growth decisions, it’s important to look at its financial leverage. Barrick Gold (ABX) and Newmont Mining (NEM) were once considered the companies with the highest financial leverage ratios.
Which Gold Miners Could Show Upside Potential after Q1 2018? AISC (all-in sustaining costs) is an encompassing measure that helps compare miners’ performances. The SPDR Gold Shares (GLD) is the largest physical gold-backed ETF and tracks the changes in physical gold prices.
Peruvian precious metals miner Buenaventura said Southern Copper Corp is evaluating its proposal to jointly develop Southern's $2 billion copper project Michiquillay, Buenaventura's chief executive told Reuters on Wednesday. "They were receptive ... but it's up to them to evaluate the preliminary proposal," Victor Gobitz said in an interview at the International Gold & Silver Symposium in Lima, Peru. The two companies jointly own the Coimolache mining company in Peru, and are both junior partners in large mines in Peru controlled by U.S.-based companies.
Gold mining giants in Ghana such as Newmont (NEM.N), Gold Fields (GFIJ.J) and AngloGold Ashanti (ANGJ.J) welcome new government tests to certify the value of their exports, the main industry association said on Wednesday. The tests that come in addition to customs checks and internal company tests are part of an attempt by President Nana Akufo-Addo's government to tighten control of the sector and tax it appropriately. Ghana is Africa's second biggest gold producer after South Africa and the metal is the country's top export and its leading earner of foreign exchange.
Gold mining giants in Ghana such as Newmont, Gold Fields and AngloGold Ashanti welcome new government tests to certify the value of their exports, the main industry association said on Wednesday. The tests that come in addition to customs checks and internal company tests are part of an attempt by President Nana Akufo-Addo's government to tighten control of the sector and tax it appropriately. Ghana is Africa's second biggest gold producer after South Africa and the metal is the country's top export and its leading earner of foreign exchange.
After making discretionary cuts on exploration and capital expenditure for many years, gold miners (GDX) (JNUG) have started to refocus on production growth.
Which Gold Miners Could Show Upside Potential after Q1 2018? Barrick Gold (ABX) produced ~1.1 million ounces of gold in the first quarter, which reflects a decline of ~20% YoY. Barrick Gold has maintained its production guidance of 4.5 million–5 million ounces of gold in 2018, which implies a decline of ~11% compared to actual production in 2017 as measured at the midpoint.
Among the gold miners (RING) (GDX) we’re looking at in this series, only Goldcorp (GG) missed analysts’ earnings expectations. The reaction to the beats and misses and the extent of gold beats and misses varied among miners. In the broader equities market in the S&P 500 (SPY), 78% of miners that have released their first-quarter results have reported a positive earnings surprise, while 77% have reported a positive sales surprise. According to FactSet, these are the highest percentages since it started tracking the data in 2008.