NEM - Newmont Goldcorp Corporation
37.29 -0.32 (-0.85%)
Pre-Market: 7:17AM EST
| Previous Close | 37.54 |
| Open | 37.28 |
| Bid | 37.25 x 3200 |
| Ask | 0.00 x 1800 |
| Day's Range | 37.19 - 37.67 |
| 52 Week Range | 29.77 - 41.23 |
| Volume | 3,475,480 |
| Avg. Volume | 6,517,064 |
| Market Cap | 30.834B |
| Beta (3Y Monthly) | -0.04 |
| PE Ratio (TTM) | 11.15 |
| EPS (TTM) | 3.37 |
| Earnings Date | Nov. 5, 2019 |
| Forward Dividend & Yield | 0.56 (1.49%) |
| Ex-Dividend Date | 2019-12-04 |
| 1y Target Est | 48.97 |
- Bloomberg
Saracen Said to Near $750 Million Deal in Barrick Mine Stake
(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 dstringer3@bloomberg.net;Harry Brumpton in Sydney at hbrumpton@bloomberg.netTo contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, Linus Chua, Shamim AdamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Zacks
Franco-Nevada (FNV) Q3 Earnings & Revenues Surpass Estimates
Franco-Nevada Corporation (FNV) reports stellar third-quarter revenues and earnings on record Gold Equivalent Ounces sold, higher gold prices and Cobre Panama starting commercial production.
- Business Wire
Newmont Goldcorp Announces 2020 Guidance Webcast
Newmont Goldcorp Corporation today announced it will release its 2020 guidance and updated longer-term outlook before the market opens on Monday, December 2, 2019 and will hold a conference call at 10:00 a.m.
- Thomson Reuters StreetEvents
Edited Transcript of NEM earnings conference call or presentation 5-Nov-19 4:00pm GMT
Q3 2019 Newmont Goldcorp Corp Earnings Call
- The Motley Fool
Is Newmont Goldcorp (TSX:NGT) About to Pass Barrick (TSX:ABX) for Gold Industry Leader?
Ever since Newmont Goldcorp Corp (TSX:NGT)(NYSE:NEM) acquired Goldcorp earlier this year, it has been challenging for top spot in the industry.
- The Motley Fool
Which Top Gold Stock Should Investors Buy Today?
Barrick Gold Corp. (TSX:ABX)(NYSE:GOLD) is looking like a strong buy after a solid quarter and amid ongoing market tensions.
- Bloomberg
Barrick's Dividend Boost Looks Like a Harbinger for the Gold Industry
(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 jvasquez57@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Steven Frank, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg
Newmont Sags Most in 9 Months After Cutting Gold-Output Forecast
(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 lmillan4@bloomberg.net;Aoyon Ashraf in Toronto at aashraf7@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Zacks
Newmont Goldcorp (NEM) Earnings & Sales Lag Estimates in Q3
Newmont Goldcorp's (NEM) gold production in North America surges 296% in Q3. The company expects attributable gold production for 2019 to be 6.3 million ounces.
- Zacks
Newmont Goldcorp (NEM) Q3 Earnings and Revenues Miss Estimates
Newmont (NEM) delivered earnings and revenue surprises of -10.00% and -10.07%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
- Business Wire
Newmont Goldcorp Announces Third Quarter 2019 Results
Newmont Goldcorp Corporation today announced third quarter 2019 results.
- Oilprice.com
The 5 Most Promising Gold Companies For 2020
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
- Zacks
Mining Stock Earnings Slated on Nov 5: NEM, ARNC, BTG, SSRM
Let's take a look at how these mining companies are poised ahead of their earnings release.
- Zacks
Newmont Goldcorp (NEM) to Post Q3 Earnings: What's in Store?
Our proven model doesn't conclusively predict an earnings beat for Newmont Goldcorp (NEM) this time around.
- Business Wire
Newmont Goldcorp’s Quecher Main Project in Peru Achieves Commercial Production
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) today announced that the Quecher Main project at Yanacocha in Peru achieved commercial production safely, ahead of schedule and under budget. Quecher Main extends the life of the Yanacocha operation to 2027, contributing average annual gold production of approximately 200,000 ounces from 2020 through 2024 at all-in sustaining costsii between $900 and $1,000. The project is expected to generate an internal rate of return of approximately 15 percent at a $1,200 gold price.
- Zacks
Newmont Goldcorp (NEM) Reports Next Week: Wall Street Expects Earnings Growth
Newmont (NEM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- GlobeNewswire
Loncor Announces Appointment of Peter Cowley as President and MINECON as Geological Consultants to Advance Ngayu Gold Project
TSX: "ABX") as joint venture partner and a second major gold producer, Resolute Mining Limited (ASX/LSE: "RSG"), as a 27% shareholder, is pleased to announce the appointment of Peter Cowley as President of the Company and Minecon Resources and Services Limited as geological consultants. Mr. Cowley is a geologist with over 40 years’ experience in the minerals industry and a history of major exploration successes in Africa, including the DRC.
- Business Wire
Newmont Goldcorp to Add Profitable Gold Production through Second Expansion at Tanami in Australia
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) announced today that its Board of Directors unanimously approved advancing the Tanami Expansion 2 project into the execution phase. The project is expected to exceed the Company’s required internal rate of return with profitable production and mine life extending beyond 2040. “The approval of our second expansion project at Tanami in Australia will further improve costs and extend the life of this world class mine in a core Newmont Goldcorp jurisdiction,” said Tom Palmer, President and Chief Executive Officer.
- Business Wire
Newmont Goldcorp Announces Quarterly Dividend of $0.14 per Share
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) today announced that its Board of Directors declared a quarterly dividend of $0.14 per share of common stock, payable on December 27, 2019, to holders of record at the close of business on December 5, 2019. The declaration and payment of future quarterly dividends remains at the discretion of the Board of Directors and will depend on the Company's financial results, cash requirements, future prospects and other factors deemed relevant by the Board. Newmont Goldcorp is the world’s leading gold company and a producer of copper, silver, zinc and lead.
- Business Wire
Newmont Goldcorp Safely Starting Up Production at Peñasquito Mine in Mexico
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) is safely starting up production at the Peñasquito mine in Mexico following the lifting of the illegal blockade on October 8. With the support of the State and Federal governments, including an ongoing police presence, the Company has commenced an approximately 10-day process of bringing back the operation to full production. “We appreciate the government’s efforts to uphold the law by assuring ongoing access to and from Peñasquito while continuing to sponsor the dialogue process, should that continue to be needed,” said Tom Palmer, President and Chief Executive Officer.
- Zacks
Dow (DOW) Warms Up to Q3 Earnings: What's in the Offing?
Our proven model does not conclusively predict that Dow (DOW) is likely to beat the Zacks Consensus Estimate this quarter.
- Business Wire
Accomplished Miner Dan Janney to Lead Newmont Goldcorp’s Business in North America
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) has appointed accomplished miner Dan Janney to continue improving the Company’s safety and operational performance in North America. Most recently, Mr. Janney was serving as Newmont Goldcorp’s Group Executive supporting the Full Potential continuous improvement work in the region.
- Zacks
Eastman Chemical (EMN) to Post Q3 Earnings: What's in Store?
Our proven model does not conclusively predict that Eastman Chemical (EMN) is likely to beat the Zacks Consensus Estimate in Q3.
- Zacks
Cabot's New TECHBLAK 85 Series to Meet Sustainability Needs
Cabot (CBT) unveils new black masterbatch series, designed to minimize industry's carbon footprint and advance circular economy of plastic raw materials.
- Zacks
Will Lower Steel Prices Hurt Nucor's (NUE) Earnings in Q3?
Weaker U.S. steel prices are likely to have hurt Nucor's (NUE) profitability in Q3.
