Latest news with #NewmontMining
Business Insider
22-05-2025
- Business
- Business Insider
RBC Capital Reaffirms Their Hold Rating on Newmont Mining (NEM)
RBC Capital analyst Josh Wolfson maintained a Hold rating on Newmont Mining (NEM – Research Report) on May 20 and set a price target of $52.00. The company's shares closed yesterday at $52.64. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter According to TipRanks, Wolfson is a 5-star analyst with an average return of 9.4% and a 65.83% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Agnico Eagle, Newmont Mining, and Royal Gold. Currently, the analyst consensus on Newmont Mining is a Moderate Buy with an average price target of $60.20. Based on Newmont Mining's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.01 billion and a net profit of $1.89 billion. In comparison, last year the company earned a revenue of $4 billion and had a net profit of $170 million
West Australian
12-05-2025
- Business
- West Australian
Rajasooriar to lead Noronex Namibian copper charge
ASX listed Noronex Limited has picked up experienced mining industry player Victor Rajasooriar as its new managing director and chief executive officer in a move set to realise its ambitions across the coveted Kalahari Copper Belt in southern Africa. Rajasooriar, a mining engineer with over 25 years of global experience, officially takes the helm next week and brings with him a resume tailor-made for emerging resource plays. It includes various senior positions at industry giants Newmont Mining and Gold Fields Ltd. Rajasooriar is no stranger to the junior mining game either, having carved out a reputation with stints at Breakaway Resources, Panoramic Resources and Siren Gold. Although his hands-on experience stretches from early-stage explorers all the way to producers, a key chapter of his career was spent at mining contractor Barminco between 2014 and 2018. There, as Chief Operating Officer, he ran the company's contract mining operations across Australia and Africa, including the Zone 5 copper mine in Botswana. However, it was at Echo Resources where Rajasooriar turned a few heads. Taking charge of the then-$43 million junior, he propelling it into the spotlight with a rapid rise that saw its value skyrocket. In less than a year, Echo's market cap had touched $243 million and the company was ultimately snapped up by Northern Star in a takeover. Rajasooriar has also contributed some skin in the game to his Noronex appointment with a $100,000 commitment to 7.1 million new shares at 1.4 cents each, subject to shareholder approval. The mining veteran landed his new job after current director James Thompson decided to step down from all managerial and directorship roles with the company following six years of involvement. Thompson founded Noronex privately in 2018, helped assemble the company's original copper asset base and crafted the acquisition strategy for the Kalahari Copper Belt. He intends to remain a shareholder. Rajasooriar has joined at an exciting time for Noronex as it looks to unlock the potential of its extensive copper portfolio in Namibia including a 10Mt resource grading 1.3 per cent copper at the company's Witvlei project. In total, Noronex's exploration package spans a massive 10,000 square kilometres of the Kalahari Copper Belt. The highly prospective region is also home to Chinese-backed MMG's massive 7 million tonne Cupric copper mine and Sandfire Resources' Motheo mine with 700,000 tonnes of contained copper. About 130 kilometres northeast of Witvlei, Noronex has its foot on two further projects called Humpback and Damara. Drilling is underway at the early-stage Damara grounds to test the margins of mineralisation, however, the real excitement is currently at the Fiesta prospect within its Humpback leases. Stretching across 4.5 kilometres, reverse circulation drilling at Fiesta has unearthed several copper equivalent hits from 80m downhole including 45m grading 1.0per cent, 30m running at 1.1 per cent and 16m at 1.3 per cent. The results have been enough to convince mega base metal miner, South 32 to join the party. Last year, the two signed an earn-in agreement and strategic alliance to fund and accelerate ongoing exploration at Humpback and Damara. The deal, which provides Noronex with strong technical and strategic support also allows for South 32 to earn up to 60 percent of the project areas by spending $15 million in exploration over five years. With drilling data covering more than 180,000m, strategic partnerships in place and fresh leadership now locked in, Noronex is gearing up for what could be a transformational chapter just as global copper demand surges and prices toy with new highs over US$10,200 (A$16,000) a tonne. Is your ASX-listed company doing something interesting? Contact:
Yahoo
03-05-2025
- Business
- Yahoo
3 No-Brainer Gold Stocks to Buy Right Now
Gold is trading near all-time highs, resulting in it receiving much attention from investors. Newmont and AngloGold Ashanti are leading gold mining companies. The VanEck Gold Miners ETF is a great option for cautious investors who are uninterested in assuming the risks of a single gold mining company. While rare earth minerals and other critical minerals have recently become flashpoints in the escalating trade war between the United States and China, gold has also remained at the top of investors' minds. But for those interested in becoming gold bugs themselves, where is there to turn? Instead of bulking up on bullion, investors would be wise to consider clicking the buy button on Newmont Mining (NYSE: NEM), AngloGold Ashanti (NYSE: AU), and the VanEck Gold Miners ETF (NYSEMKT: GDX). Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Newmont Mining is the only gold mining stock included in the S&P 500. It's the largest gold stock by market cap available on major U.S. exchanges, helping to make it a glittering choice for those interested in a more conservative gold investment. In addition to North and South America, Newmont operates assets in Australia, Africa, and Papua New Guinea. While some gold companies rely heavily on leverage to fund their various mining operations, Newmont has an investment-grade balance sheet thanks, in part, to its retiring of $1.4 billion in debt in 2024. Moreover, as of the end of first-quarter 2025, Newmont had a net debt-to-earnings before interest, taxes, depreciation, and amortization (EBITDA) ratio of 0.3. Newmont has numerous growth projects in its pipeline to ensure it continues producing plenty of the yellow metal in years to come. With the company generating strong free cash flow during this period of high gold prices, it seems likely that the company will be able to fund these projects with organic cash instead of relying on debt or issuing equity to raise capital in the near future. For the most part, those looking to supplement their passive income streams are rushing to gold stocks. Because gold producing operations and activities to identify new resources are incredibly capital-intensive, businesses will often retain the cash they generate to fund future growth. But not AngloGold Ashanti. Instead, the company -- whose stock offers an alluring 3.5% forward yield -- is dedicated to returning capital to shareholders in addition to maintaining its financial health. The company's recently revised dividend policy targets a base quarterly dividend of $0.125 per share. Additional dividend payments will also be made so that the company is returning about 50% of free cash flow to shareholders in total. All this comes under the condition that the company maintains a net debt-to-adjusted EBITDA ratio under 1.0. AngloGold Ashanti reported $942 million in free cash flow for 2024 -- a year-over-year improvement of 764%. With the company projecting gold production of 2.9 million to 3.225 million ounces for 2025 and 2026 and gold prices remaining high, the future looks bright for AngloGold Ashanti. Risk-averse investors may find an exchange-traded fund (ETF) a more appealing way to gain gold exposure. For these individuals, the VanEck Gold Miners ETF presents a great opportunity. Unlike the risks that investors assume with buying shares of a single mining company, the VanEck Gold Miners ETF mitigates the potential downside of a single company, thanks to the 63 holdings in the fund. As of the end of March, Agnico Eagle Mines and Newmont represented the two largest positions, each with weightings of about 11.6%. Royalty and streaming companies -- businesses that act as specialized financiers providing upfront financing to mining companies in exchange for things like a portion of the mined metal -- also figure prominently in the fund. Leading royalty and streaming companies Wheaton Precious Metals and Franco-Nevada Corporation are the third and fifth largest holdings in the ETF. The VanEck Gold Miners ETF has a 0.51% net expense ratio, but it's important to note that the distributions, made annually, help to defray the management costs. As of this writing, the ETF had a 12-month yield of 0.82%. While investors eager to boost their passive income streams with the help of the yellow metal will find AngloGold Ashanti to be a lustrous opportunity, those looking for a bargain will be more drawn to Newmont, which is trading at a discount to its historical valuation. It has a five-year average operating cash flow multiple of 9.7, but it's now changing hands at 7.6 times operating cash flow. On the other hand, those who are more circumspect in their approach to a gold investment will want to dig deeper into the VanEck Gold Miners ETF, which brands itself as the "nation's first gold miners ETF." Before you buy stock in Newmont, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Newmont wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $610,327!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $667,581!* Now, it's worth noting Stock Advisor's total average return is 882% — a market-crushing outperformance compared to 161% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 28, 2025 Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. 3 No-Brainer Gold Stocks to Buy Right Now was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
25-04-2025
- Business
- Yahoo
Why Gold Miner Stocks Plunged Today on a Great day for the Markets
Shares of gold mining stocks Barrick Gold (NYSE: GOLD), Newmont Mining (NYSE: NEM), Gold Fields (NYSE: GFI), and AngloGold Ashanti (NYSE: AU) were all down today, falling 4.6%, 2.6%, 6%, and 5.1%, respectively. The declines were all the more notable as the broader market indexes were up strongly on the day. Yet the move wasn't surprising, as the price of gold fell 3.4% today. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Gold has generally been moving higher in recent months, and generally in the opposite direction of markets, due to the instability caused by the Trump administration's tariff policies. As angst over worst-case scenarios were partially soothed today due to President Trump appearing to walk back from the administration's maximalist positions last night, markets rallied and gold fell. Gold is often thought of as a "safe haven" asset, or the ultimate hedge against geopolitical catastrophe and perhaps runaway inflation in developed countries. Since President Trump took office, the price of the metal has rallied, as various policy positions and statements from the administration have increased global uncertainty, causing the value of the dollar to fall against other currencies. Gold is priced in dollars, so when the dollar declines, perhaps due to investors pulling away from dollar-denominated assets, gold generally rises. On "Liberation Day" on April 2, President Trump unveiled higher-than-expected tariffs on many countries, friend and foe alike. Since then, the rhetoric between the U.S. and China has escalated, leaving investors fearing a trade war, skyrocketing prices, and global instability. In addition, President Trump's Truth Social posts criticizing Federal Reserve Chair Jay Powell on Monday also increased fears over the Federal Reserve's independence from politics, which added to the uncertainty over the stability of U.S. dollar assets. However, the past two days have seen the administration pull back from its positions, at least somewhat. Last night, President Trump declared he had "no intention" of firing Jay Powell. Moreover, Trump also said in the same press conference he believes the current 145% tariffs on China "won't be that high" going forward, adding, "It will come down substantially. But it won't be zero. It used to be zero." The 145% tariffs on goods from China threatened an economic downturn this year, given that China is the U.S.' third-largest trading partner, the largest outside of neighbors Canada and Mexico, and a key supplier of electronics and other crucial items needed by American consumers and businesses. Moreover, the somewhat reckless and haphazard manner in which the administration rolled out tariffs has called into question the "safe haven" status of U.S. Treasury bonds, which paradoxically saw their yields rise even as the markets fell. Usually, Treasury yields and U.S. stocks move in a similar direction. If U.S. Treasuries don't appear "safe," investors may turn to gold instead as a store of value. That's what's been happening over the past few months, especially since April 2. However, if Trump is now backing away from his tougher stance and relenting on tariffs, that would cause an unwinding of the gold trade, which is what we are seeing today. All of these aforementioned stocks mine gold as their primary commodity, although some mine other metals as well, such as silver or copper. Therefore, their share prices tend to move along with the price of gold, which fell sharply off their highs today. It's interesting to note that some miners, Barrick Gold in particular, are rapidly looking to cash out of some gold mining operations with prices at new recent highs. Yesterday, the company sold its stake in an Alaska gold mining project and is reportedly actually looking to sell its remaining Canadian operation, the Hemlo gold mine in Ontario, along with another gold mine on the Ivory Coast. Does Barrick's recent sale and sales proposals mean gold may have topped out for now? That's really hard to say, as it's impossible to know the future trajectory of trade talks, where tariffs may land, as well as global investor sentiment toward gold as a safe haven versus U.S. Treasuries. However, if the past few months have taught investors anything, it's that gold or gold-oriented stocks can operate as a valuable hedge against other economically sensitive holdings as part of a diversified portfolio, at the very least. Before you buy stock in Barrick Gold, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Barrick Gold wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $561,046!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $606,106!* Now, it's worth noting Stock Advisor's total average return is 811% — a market-crushing outperformance compared to 153% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 21, 2025 Billy Duberstein and/or his clients have no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Gold Miner Stocks Plunged Today on a Great day for the Markets was originally published by The Motley Fool
Business Insider
23-04-2025
- Business
- Business Insider
RBC Capital Keeps Their Hold Rating on Newmont Mining (NEM)
RBC Capital analyst Josh Wolfson maintained a Hold rating on Newmont Mining (NEM – Research Report) on April 21 and set a price target of $52.00. The company's shares closed yesterday at $54.54. Stay Ahead of the Market: Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Wolfson covers the Basic Materials sector, focusing on stocks such as Royal Gold, Wheaton Precious Metals, and Osisko Gold Royalties. According to TipRanks, Wolfson has an average return of 11.1% and a 67.21% success rate on recommended stocks. In addition to RBC Capital, Newmont Mining also received a Hold from Scotiabank's Tanya Jakusconek in a report issued on April 14. However, on April 20, Bank of America Securities maintained a Buy rating on Newmont Mining (NYSE: NEM).
