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Mario Gabelli: What To Do if Market Declines
On August 24, in an interview with CNBC, Mario Gabelli encouraged value investing. He is the CEO, chairman, and founder of GAMCO Investors.
Newmont and Goldcorp Merger Could Create Shareholder Value
The merger will combine Newmont Mining’s 68.5 million ounces and Goldcorp’s 52.8 million ounces to form the world’s largest asset base.
Newmont and Goldcorp Merge, Form World’s Largest Gold Company
After the dividend, Paulson and VanEck agreed on the Newmont Mining and Goldcorp merger. The merger was finally completed on April 18.
Deutsche Bank Upgraded Barrick Gold
Barron’s reported that Deutsche Bank (DB) analyst Chris Terry has increased gold’s (GLD) (IAU) target price to $1,350 per ounce for 2019.
Why Is Deutsche Bank Bullish on Gold?
Gold prices (GLD) have risen 0.5% YTD (year-to-date) until April 12—compared to the gain of 16.1% in the S&P 500 Index (SPY).
Wall Street Ratings: Gauging Gold Miners’ Upside Potentials
Among senior and intermediate gold miners (GDX) (GDXJ), analysts are most bullish on Agnico Eagle Mines (AEM).
Yamana and Agnico Eagle: Is There More Upside in 2019?
Yamana Gold (AUY) and Agnico Eagle Mines (AEM) outperformed the Gold Miners Index (GDX) and gold (GLD) in the first quarter of 2019.
Newmont Stock Will Take Cues from Its Goldcorp Merger Execution
Newmont Mining stock returned 3.2% in the first quarter, almost half the gains in the VanEck Vectors Gold Miners ETF in the same period.
Goldcorp Outperformed Its Peers in Q1—Could This Continue?
Goldcorp’s (GG) fourth-quarter EPS came in at $0.07, which beat the consensus estimate of $0.04.
What Will Be Key to Barrick Gold’s Performance in 2019?
Barrick Gold underperformed its senior and intermediate peers as well as the broader benchmark index during the first quarter of 2019.
How Gold and Gold Miners Performed in Q1
Gold prices (GLD) gained just 0.6% in the first quarter compared to the gain of 13% in the S&P 500 Index (SPY).
What Wall Street Expects from Newmont after the Goldcorp Merger
Analysts’ ratings According to Thomson Reuters, of the 15 analysts covering Newmont Mining (NEM), 67.0% have given the stock a “buy” rating, 20.0% say “hold,” and 13% have a “sell” rating on the stock. Its target price implies a potential upside of 15.3% based on its current price of $34.9. In the last three months, Newmont’s “buy” ratings have […]
Do Analysts Want You to Buy Agnico Eagle Mines?
Currently, 18 analysts are covering Agnico Eagle Mines (AEM), as per the consensus compiled by Thomson Reuters.
The Five Gold Stocks Wall Street Is Loving Lately
Gold miners usually act as a leveraged play on gold prices. In 2018, the VanEck Vectors Gold Miners ETF (GDX) fell 9.3%, amplifying the 1.9% fall in gold prices (GLD).
NEM-GG Merger: Newmont’s Special Dividend Announcement
In a press release, Newmont Mining (NEM) said this one-time special dividend will be paid to Newmont shareholders of record as of April 17, 2019.
Will Newmont Investors Approve GG Merger after Special Dividend?
Today, Newmont Mining (NEM) announced a conditional special dividend to shareholders if its proposed merger with Goldcorp (GG) goes through.
Which Gold Miners Could Offer Valuation Upsides in 2019?
In this article, we’ll look at individual gold miners’ valuations and compare them to their histories and their peers.
What Analysts Expect for Gold Miners’ Earnings in 2019
Now that we’ve considered analysts’ revenue estimates for senior gold miners (GDX), in this article, let’s take a look at analysts’ EBITDA estimates.
What’s Affecting Analysts’ Revenue Forecasts for Gold Miners?
In this article, we’ll consider analysts’ estimates for senior gold mining companies’ (GDX) (JNUG) revenues going forward.
Which Senior Gold Miners Are Analysts Loving Lately and Why?
In this series, we’ll consider recommendations, target prices, estimates, and potential upsides and downsides for senior gold miners.
Will John Paulson Reconsider the Newmont-Goldcorp Merger?
After the Newmont Mining and Goldcorp merger was announced, investors were disappointed with the proposed premium announcement.
John Paulson Opposes the Newmont-Goldcorp Merger
In a letter to Newmont Mining’s CEO, Paulson & Co. said it doesn’t favor Newmont Mining’s $10 billion merger with Goldcorp (GG).
Which Gold Miners Can Easily Repay Their Debt?
If a company has high debt but has the capacity to repay it through its earnings, then the debt likely won’t be much trouble for the company.
Which Gold Miner Has the Best Liquidity Profile?
At the end of the fourth quarter of 2018, Barrick Gold had a cash balance of ~$1.6 billion and a $3 billion undrawn credit facility.
Which Gold Miners Are in Sound Financial Health after 2018?
Not many investors were concerned about gold miners’ (GDX) (GDXJ) financial health when precious metal prices were high.
How Do Gold Miners’ Leverage Ratios Look?
Barrick has reduced its debt more than 57% in the last four years from $13.4 billion at the end of 2014 to $5.7 billion at the end of 2018.
Which Gold Miners Could Show Free Cash Flow Upside in 2019?
FCF (free cash flow) generation is quite important for gold mining companies (SGDM) (GDX).
How Gold Miners’ Costs Stack Up
Barrick Gold (GOLD) reported AISC of $788 per ounce and a cost of sales of $980 per ounce in the fourth quarter.
Gold Miners Fell Short of Replacing Their Reserves in 2018
To achieve production growth in the long term, gold miners (GDX) (GDXJ) have to replace every ounce they take out of the ground.
Are Slowing Production Pipelines Fueling Gold Miner M&A Activity?
The production growth of most of the miners (GDX) (JNUG) is either in decline or flat at best.
Most Gold Miners Reported Declining Production in Q4
Goldcorp’s (GG) production for the fourth quarter came in at 630,000 ounces of gold, a YoY decline of 2.5%.
Did Gold Miners’ Q4 Results Meet Expectations?
Barrick Gold (GOLD) opened the earnings season for gold miners with earnings on February 13.
Which Gold Mining Stocks Could Have Upside Potential in 2019?
The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets YTD.
What Would It Take for Analysts to Be More Positive about KGC?
Of the 20 analysts covering Kinross Gold (KGC) as per the consensus compiled by Thomson Reuters, 40% have given it “buy” ratings, and 55% have given it “holds.”
Could Kinross Gold’s Balance Sheet Support Its Future Growth?
Kinross Gold’s (KGC) liquidity position at the end of the fourth quarter of 2018 reflected its strategic investments.
KGC’s Unit Costs: Why They’ll Get Worse before They Get Better
Kinross Gold (KGC) reported all-in sustaining costs of $961 per ounce in the fourth quarter, reflecting a decline of 5.7% YoY (year-over-year).
Can KGC’s Projects Aid Its Production Profile in the Medium Term?
The Tasiast expansion project is very important for Kinross Gold (KGC) when it comes to replacing its maturing production.
Why Kinross Gold’s Production Growth Could Remain Muted for Years
Kinross Gold (KGC) produced 610,152 gold equivalent ounces in the fourth quarter, a decline of 6.5% YoY (year-over-year).
Can Kinross Gold Stock Rise above Its Issues in 2019?
Kinross Gold (KGC) reported adjusted EPS of $0.01 in 2018, beating analysts’ consensus estimate by $0.01.
Barrick Gold Withdraws Hostile Acquisition Bid for Newmont
On February 25, Barrick Gold (GOLD) put in an unsolicited bid to acquire Newmont Mining (NEM).
Investors Are Curious about Newmont-Goldcorp’s Updated Guidance
Goldcorp’s (GG) production for the fourth quarter came in at 630,000 ounces of gold, a YoY decline of 2.5%.
Newmont-Goldcorp Merger: What to Expect from Combined Company
On January 14, Newmont Mining (NEM) and Goldcorp (GG) announced a merger.
Newmont Mining Rejects Barrick Gold’s Hostile Acquisition Bid
In a press release today, Newmont Mining said that Barrick’s unsolicited negative premium proposal is not in shareholders’ best interest.
Barrick Gold’s Valuation Multiple: Upside in 2019?
Among senior miners (GDX), Barrick Gold (GOLD) has the highest EV-to-EBITDA multiple of 8.4x—a premium of 29% to its historical multiple.
Analyzing Barrick Gold’s Free Cash Flow Upside in 2019
Barrick Gold’s FCF was $37 million in the fourth quarter—85% lower YoY. In 2018, the FCF was $365 million—down 45% YoY.
Barrick Gold’s Merger Could Drive Its Production Going Forward
Production growth is a crucial variable for miners. Along with realized metal prices, production growth drives a company’s top line.
Barrick Gold after the Randgold Merger: Upside in 2019?
In the fourth quarter, Barrick Gold produced 1.26 million ounces of gold—up 9.7% sequentially but down 6% YoY (year-over-year).
Buffett versus Dalio on Gold: Whose Advice Should You Take?
When it comes to investing in stocks, Berkshire Hathway’s (BRK.A) chair, Warren Buffett, and Bridgewater’s founder, Ray Dalio, have similar advice.
Can Newmont Mining Outperform Its Peers in 2019?
Newmont Mining (NEM) reported its fourth-quarter earnings results before the market opened on February 21.
Barrick Gold Makes a Hostile Bid to Acquire Newmont Mining
Today, Barrick Gold (GOLD) made an unsolicited bid for its rival Newmont Mining (NEM) in an all-share deal.
Newmont Mining’s Q4 Results Beat Estimates, Stock Rises
Newmont Mining (NEM) reported its fourth-quarter earnings results before the market opened on February 21.
GOLD Proposes Framework for Resolution of Dispute in Tanzania
Today, Barrick Gold outlined a proposed framework for the resolution of the outstanding dispute between subsidiary Acacia Mining and the government of Tanzania.
What’s in the Cards for Newmont Mining’s Q4 Results?
Newmont Mining (NEM) is scheduled to release its Q4 2018 earnings on February 21 before the market opens.
Investors Are Awaiting This Update from Kinross Gold’s Q4 Results
After underperforming its peers (GDX) (NUGT) in 2018, Kinross Gold (KGC) has continued that underperformance this year.
What to Look For in Barrick Gold’s Q4 Earnings
Barrick Gold is scheduled to release its fourth-quarter results on February 13 before the market opens.
Which Gold Stocks Are Primed for a Valuation Upside after Q4?
The EV-to-EBITDA (enterprise value-to-EBITDA) multiple is a good measure of valuation for capital-intensive industries.
Assessing Gold Miners’ Free Cash Flows in 2018 and Beyond
Analysts expect Barrick Gold (GOLD) to generate significant FCF amounting to $519 million in 2018.
Which Gold Miners Could Surprise on the Earnings Upside in Q4?
In this article, we’ll discuss what analysts expect for gold miners’ (RING) earnings in the fourth quarter of 2018.
Digging into Gold Miners’ Performances ahead of Their Q4 Results
Gold’s price has risen 2.2% year-to-date after falling ~1.9% in 2018. Gold saw its fourth consecutive positive monthly return in January.
Which Senior Gold Miners Have Rerating Potential in 2019?
Among senior gold miners (GDX), Barrick Gold (GOLD) has the highest forward EV-to-EBITDA (enterprise value-to-EBITDA) multiple of 8.2x.
Which Gold Stocks Are Looking Attractive in 2019?
In 2018, as gold prices (GLD) fell 1.9%, the VanEck Vectors Gold Miners ETF (GDX) multiplied that loss by falling 9.3%.
Can Gold Miners Be Repriced as Consolidation Hits the Sector?
The consolidation in the gold sector has already taken a major step up, with two of the largest miners announcing mergers.
What Could Affect Newmont’s Valuation after the Merger?
The Newmont-Goldcorp merger deal could offer significant synergies.
Could the Newmont-Goldcorp Merger Form ‘The Go-To Gold Equity’?
Newmont Mining (NEM) and Goldcorp (GG) held a conference call on January 14 to brief investors and analysts on their merger.
Newmont and Goldcorp Set to Form the World’s Largest Gold Company
Newmont Mining (NEM) and Goldcorp (GG) held a joint conference call on January 14 to brief investors and analysts about their merger, in which Newmont and Goldcorp shareholders are to own ~65% and ~35% of the combined entity, respectively.
Why GG Stock Rose and NEM Stock Fell after the Merger News
Newmont Mining (NEM) has agreed to pay a 17% premium to acquire stock from Goldcorp (GG), which has been struggling for over a year to meet market expectations.
What’s Next for Gold after the Newmont-Goldcorp Merger?
Whereas several gold (GLD) mining companies are likely to see M&As (mergers and acquisitions), Agnico Eagle Mines (AEM) may not be one of them.
Why Gold Miners’ Mergers and Acquisitions Are Heating Up
Newmont Mining (NEM) and Goldcorp’s (GG) deal, the gold space’s latest mega-merger, may suggest miners are getting serious about turning things around for stakeholders.
Newmont and Goldcorp Merger to Create World’s Leading Gold Miner
Newmont and Goldcorp announced that they have entered an agreement in which NEM will acquire all of the outstanding GC shares in a stock-for-stock transaction valued at $10 billion.
Can Barrick’s Valuation Rerate Further after the Merger?
Among senior miners (GDX), Barrick (GOLD) has the second-highest EV-to-EBITDA (enterprise value-to-EBITDA) multiple of 6.6x.
Are Analysts Changing Their Tune on Barrick after the Merger?
Most analysts are positive on Barrick (GOLD) regarding its merger with Randgold Resources.
Is Now the Time to Heed Dalio’s Gold Allocation Advice?
Ray Dalio’s love for gold is well known.
How Gold Stocks Have Performed This Year
Gold and gold miners didn’t start off the year on a good note.
Which Gold Miners Could Offer Valuation Upsides after Q3 2018?
While the valuations of broader equities have continued to increase, the valuations of gold stocks haven’t kept up.
What Are Analysts’ Estimates for Gold Miners’ Future Earnings?
Now that we’ve considered analysts’ revenue estimates for the senior gold miners under review, let’s take a look at analysts’ EBITDA estimates.
What Factors Are Affecting Revenue Forecasts for Gold Miners?
In this article, we’ll look at analysts’ estimates for those companies’ (GDX) (JNUG) revenues going forward.
Which Gold Miners Do Analysts Love after Q3 2018 and Why?
In this article, we’ll look at the market sentiments for the gold mining companies under review in this series.
Which Gold Miners Show Free Cash Flow Upside?
Barrick Gold (ABX) generated FCF of $319 million in the third quarter compared to -$172.0 million in the second quarter.
Checking Up on Gold Miners’ Financial Health after Q3
Newmont Mining’s (NEM) net debt at the end of the third quarter was ~$1.1 billion compared to $1.9 billion at the end of 2016.
A Look at Gold Miners’ Financial Leverages after Q3 2018
Barrick Gold (ABX) and Newmont Mining (NEM) have come a long way as far as their financial leverages are concerned.
What Did It Cost Gold Miners to Dig Out an Ounce of Gold?
AISC (all-in sustaining costs) is an encompassing measure that helps us compare gold miners’ performances.
How Might Kinross Gold’s Balance Sheet Support Its Future Growth?
Kinross Gold’s (KGC) liquidity position at the end of the third quarter was reflected its strategic investments.
What Would It Take for KGC to Increase Production Sustainably?
Kinross Gold (KGC) produced 586,260 gold equivalent ounces in the third quarter, a 10% fall YoY (year-over-year).
Why Kinross Gold’s Rebound Potential Seems Limited Right Now
Kinross’s momentum in 2018 so far has been negative, with its stock down over 40% YTD (year-to-date) as of November 20.
What’s Newmont Mining Stock’s Valuation Upside?
Newmont Mining (NEM) has a forward enterprise value-to-EBITDA multiple of 7.9x, the highest among senior gold miners.
Newmont’s Financial Position to Sustain Its Growth Going Forward
Newmont Mining saw its debt rise at the peak of the cycle due to expensive acquisitions, which have now been brought under control.
These Factors Could Turn Newmont Mining’s Fortunes around in 2019
Newmont Mining reported EPS of $0.33, which beat the consensus estimate by $0.14. Its revenue of $1.73 billion, however, missed the mark.
Why Ray Dalio Recommends Holding 5%–10% in Gold
Dalio’s Bridgewater Associates built its position in gold ETFs mainly after the second quarter of 2017.
Which Senior Gold Miner Could See a Valuation Rerating in 2018?
At a time when growth is difficult to come by in the gold mining space, Newmont Mining has a strong project pipeline with very low execution risk.
What’s Driving Production Growth for Barrick Gold?
Production growth is a crucial variable for miners. Along with realized metal prices, it drives a company’s top line.
What to Know about Barrick Gold after Its Q3 2018 Results
While Barrick stock remains weak YTD (year-to-date), it surged following the announcement of its merger with Randgold Resources (GOLD).
Yamana Gold Will Sell the Gualcamayo Mine for $85 Million
Yamana Gold (AUY) announced that it entered into an agreement to sell its Gualcamayo mine in Argentina to Mineros SA.
Yamana Gold Upgraded Its Production Guidance
Yamana Gold’s production for the third quarter was 246,788 ounces—an improvement of 11% YoY and 10% sequentially.
Upside for Yamana Gold after Its Q3 Earnings
Yamana Gold released its third-quarter results before the markets opened on October 26. The company held a conference call the same day.
Investors Will Be Watching Goldcorp’s Q4 2018 Volume Target
Goldcorp expects its fourth-quarter production to come in at 620,000 ounces, which could push its fiscal 2018 volumes to 2.28 million ounces.
Goldcorp Seeks to Recover after Falling 18% on October 25
Goldcorp (GG) reported its Q3 earnings on October 24. GG reported adjusted EPS of -$0.08, which missed the consensus estimate by $0.05.
Goldcorp Stock Plunges 13% on Its Disappointing Q3 Results
Goldcorp (GG) reported its third-quarter earnings results after the market closed on October 24.
Which Gold Miners Could See a Valuation Upside after Q3 Earnings?
Agnico Eagle Mines (AEM) has the highest forward multiple of 10.3x, almost in line with its last-five-year average multiple.
Kinross Gold’s Q3 2018 Preview: The Tasiast Update
After significantly outperforming its peers (GDX)(NUGT) in 2017, Kinross Gold (KGC) has underperformed this year.
Barrick Gold’s Q3 Earnings Preview: Here’s What to Watch
During the third quarter, Barrick Gold agreed to acquire Randgold Resources (GOLD) in a share-for-share deal.