Australian (ASX) Stock Market Forum

NEM - Newmont Mining Corporation

Jump to new
Bush Trader said:
You give up to easily!

What not try a hold and see approach, as you yourself has stated M&A activity in the sector could be exponential if the Gold bugs are correct in their estimations.


Good Luck


BT
Click to expand...
Yes, I may miss out, but I am being very cautious atm. I think more bad news from the US will skittle us, so I'm keeping some equity to make the most of the potential opportunity. Sorry, I'm not a hold and wait man, I'm an active investor.

Also, NEM will be a predator, not a prey, which potentially is bad news in the short term for their position. I'd much rather be on a takeover target.

I could very well buy back in this afternoon if it recovers magnificantly.
 
kennas said:
Yes, I may miss out, but I am being very cautious atm. I think more bad news from the US will skittle us, so I'm keeping some equity to make the most of the potential opportunity. Sorry, I'm not a hold and wait man, I'm an active investor.

Also, NEM will be a predator, not a prey, which potentially is bad news in the short term for their position. I'd much rather be on a takeover target.

I could very well buy back in this afternoon if it recovers magnificantly.
Click to expand...

You never no, BHP may want to extend their Gold portfolio. I bought my first parcel of NEM some time ago at 4.15, I also own some at 5.86, so I suppose we just have a different wat of playing the same game of cards. Being a farmer I work on averages.


Cheers



BT
 
kennas said:
Also, NEM will be a predator, not a prey, which potentially is bad news in the short term for their position. I'd much rather be on a takeover target.
Click to expand...

You never know Kennas, stranger things have happened, and they still are number 2 in the world. Who knows, this may just be the right time for a predator to pounce on a 'distressed?' situation. My average entry is $2.60, so I'm in for the long haul (I'm afraid it's looking like that now :()
 
Uncle Festivus said:
You never know Kennas, stranger things have happened, and they still are number 2 in the world. Who knows, this may just be the right time for a predator to pounce on a 'distressed?' situation. My average entry is $2.60, so I'm in for the long haul (I'm afraid it's looking like that now :()
Click to expand...
Yep, I agree here too. She's looking very sick amongst the internationals...

Maybe we can all chip in a buy them out?

With the assistance of NCM/LHG merged?

Damn it, why did I sell? :banghead:

I'LL BE BACK! (with arnie accent)
 
I haven't re-entered yet. Waiting for some sign it's going back up again. First sign might be back over $5.25. Before then I'm still concerned that they are still on the same path they've been for the past year. That is; higher costs, lower reserves, and falling short of expectations. Give me a good ann!~!!

I am a bit disappointed that they've decided to takeover a Canadian instead of NCM or LGL. I have held high expectations that it would probably be NCM with a bidding war to follow...I think both NCM and LGL have quite a bit of takeover spec in their sp at the moment, and this may take a bit of shine off them.

Newmont in $1.7bn bid for Canadian goldminer
Jamie Freed
October 11, 2007

AT THE Diggers and Dealers conference in Kalgoorlie in August, Newmont Mining vice-chairman Pierre Lassonde said his company would start moves in two to three months to help it regain the crown of world's largest goldminer.

Rather than a tilt at local goldminers Newcrest Mining or Lihir Gold, a prospect raised at the Denver Gold Forum last month, Newmont yesterday revealed a $C1.5 billion ($A1.7 billion) friendly cash offer for Canada's Miramar Mining. Miramar owns the Hope Bay project in the Canadian Arctic. Hope Bay has three gold deposits containing 10.7 million ounces of resources.
Click to expand...
 
Unusual volume spikes on this the past 3 days. Rarely trades over 500k shares. I think the one a couple of days ago was due to the Canadian buy but yesterday's spike with 2% gain looks like good support.
 

Attachments

  • NEM.gif
    NEM.gif
    16.6 KB · Views: 128
Uncle Festivus said:
Finally some good news for the bleeder, up nearly 10% in the US overnight on doubling of profit ann - should see it reclaim $5.50 mark today?

http://today.reuters.com/news/artic...IDST_0_NEWMONT-RESULTS-UPDATE-4.XML&type=qcna
Click to expand...


Yes Uncle, and I feel it is probably one of the best safe gold plays at the moment due to its diversification offshore which makes it less prone to the strengthening Aussie Dollar. As the US gold price climbs above US$800 a great deal of general offshore investor attention will drive it strongly as well.
 
kennas said:
Unusual volume spikes on this the past 3 days. Rarely trades over 500k shares. I think the one a couple of days ago was due to the Canadian buy but yesterday's spike with 2% gain looks like good support.
Click to expand...

To my mind kennas NEM is now a buy as the dogi which has formed on the weekly chart is above the down trend line. Could expect some resitance at $6 and $7 dollars but a firming gold price should see this float up to $8 in the next month or so. A $US gold price above the old all time close of about 860will see a good break out as the US investment community will start to look at this stock due to its diversity.
 

Attachments

  • big.gif
    big.gif
    25.7 KB · Views: 87
I obviously sold this prematurely when they announced the last inventory and cost issues. :banghead:

Trading around $5.85....:(
 

Attachments

  • NEM.gif
    NEM.gif
    20.4 KB · Views: 78
Is now going as anticipated and one of the few gold stocks in positive territory today. Have now topped up to 100% of my share holdings. Sold all others in the last week due to market doubt.

Probably worth putting in the breakout thread but I have not the package to put in the trend line.
 

Attachments

  • big.jpg
    big.jpg
    77.1 KB · Views: 65

Attachments

  • nemdaily.gif
    nemdaily.gif
    10.5 KB · Views: 71
$65 is a bit optimistic in the short term, but they look to have delivered on the profit front - and the share price is still pathetic.

NEW YORK ”” Newmont Mining, one of the world's top gold producers, says its first-quarter earnings surged as gold prices spiked amid weakness in global financial markets and the U.S. dollar.
Denver-based Newmont Mining Corp. says it earned $370-million (U.S.), or 81 cents per share, up sharply from year-ago profit of $68-million, or 15 cents per share. Earnings from continuing operations totalled 80 cents per share in the latest period.
Revenue climbed to $1.94-billion from $1.22-billion, as the average price per ounce of gold jumped to $933 from $649 a year earlier.
Thomson Financial says analysts expected a profit of 54 cents per share on revenue of $1.66 billion.
Click to expand...
 
Uncle Festivus said:
$65 is a bit optimistic in the short term, but they look to have delivered on the profit front - and the share price is still pathetic.
Click to expand...
I assume a 12 month target UF? NEM has been pretty disappointing since breaking that downtrend a few months ago. Was short term up, but now back to mid term sideways. POG correcting as should be expected, unless we're all wrong and the US and world economy fixes itself up and the world starts holding hands.
 
Newmont is a good example of the sentiment created by Wall Street. The numbers are good, it is a well established , well run diversifies gold producer with imrpoving gold sales. It will be one of the first to jump into when the dispair finally gets through to investors in the US. My tip is around the end of the year after the US Presidential election.

I noticed it did not move a great deal when gold hits its peak earlier in the year and that confirmed the view I now have.

It will take the Newmonts to lead, then will follow the NCMs, LGLs etc, then the mid caps and down the line. After the big jump it was the eventual hit down the line that made the small caps go up 100 times back in 1980.
 
Seems nem (newmont) has had a name change but can't seem to find it as yet.
Does anyone have a link or some info pls ?
 
NEM opened today @ $59.74 - Financials of the Parent Co look ok... Going to be an interesting ride...
 
DrBourse said:
NEM opened today @ $59.74 - Financials of the Parent Co look ok... Going to be an interesting ride...
Click to expand...

I'm strapped in for the moment. As a longer term gold bull tragic, if POG goes off then this ought to follow.

The CEO studied at Monash, so we might be in safe hands.
 
Bloody hell, the Quarterly is 81 pages long. zzzzzzz

Third Quarter 2023 Highlights (dollars in millions, except per share, per ounce and per pound amounts)

• Newcrest acquisition: On May 14, 2023 (May 15, 2023 Australian Eastern Daylight Time), the Company and Newmont Overseas Holding Pty Ltd, an Australian proprietary company listed by shares and an indirect wholly owned subsidiary of Newmont ("Newmont Sub"), entered into a binding Scheme Implementation Deed (as amended from time to time, the “Transaction Agreement”) with Newcrest Mining Limited ("Newcrest") to acquire all of the issued and outstanding ordinary shares of Newcrest in a stock transaction, by way of an Australian court-approved Scheme of Arrangement (the “Scheme”, and such acquisition, the “Newcrest Transaction”). Under the terms of the Transaction Agreement, Newcrest shareholders will receive 0.400 of a share of Newmont’s common stock (or 0.400 CHESS Depository Interests or 0.400 PETS depository interests, in each case, each one representing a unit of beneficial ownership in Newmont common stock) for each Newcrest common share and a special dividend of $1.10 per share, to be paid by Newcrest prior to the implementation of the Newcrest Transaction. On October 11, 2023 and October 12, 2023 (October 13, 2023 Australian Eastern Daylight Time), the Newmont and Newcrest shareholders approved the Newcrest Transaction, respectively, which was then subsequently approved by the Australian court on October 16, 2023 (October 17, 2023 Australian Eastern Daylight Time). As previously announced, the transaction has received all of the government and regulatory approvals necessary for the transaction to proceed and is expected to be implemented in November 2023.
 
What sort of a miracle is required for this puppy to spin around? Maybe POG breaking $2100... :(

Screenshot 2023-11-09 at 3.24.37 pm.png
Screenshot 2023-11-09 at 3.25.13 pm.png
 
Top