Barrick Gold confirms it is weighing up nil premium Newmont Mining merger

Barrick Gold confirms talks of merger with Newmont

Barrick Gold confirms talks of merger with Newmont

Investment analysts at CIBC published a research note on January 15th, 2019 where it informed investors and clients that Newmont Mining Corporation (NYSE:NEM) is now rated as Neutral. They presently have a $33.00 price target on the basic materials company's stock.

For more Newmont Mining Corporation (NYSE:NEM) news announced briefly go to: Mining.com, Globenewswire.com, Seekingalpha.com, Seekingalpha.com or 247Wallst.com. Following these latest developments, around 0.20% of Newmont Mining Corporation stocks are owned by institutional investors and hedge funds. Finally, Morgan Stanley increased its holdings in shares of Newmont Mining by 27.9% in the 3rd quarter. Virginia Retirement Systems ET AL increased its holdings in shares of Newmont Mining by 4.6% in the 3rd quarter. Finally, Parallel Advisors LLC boosted its stake in Newmont Mining by 111.1% during the fourth quarter. The company added about 10.31% in its share price over 1-Month. Overall, the number of aggregate NEM shares held by institutional investors represents 89.1% of total shares. $157,207 worth of Newmont Mining Corporation (NYSE:NEM) was sold by MacGowan William N. Gottesfeld Stephen P also sold $122,605 worth of Newmont Mining Corporation (NYSE:NEM) on Friday, January 11. The stock has a market capitalization of $18.85 billion, a P/E ratio of 24.99 and a beta of 0.05. Since August 29, 2018 according to StockzIntelligence Inc Newmont Mining has 5 analyst reports. The company has a quick ratio of 4.02, a current ratio of 4.70 and a debt-to-equity ratio of 0.36.

It could also complicate Newmont's purchase of Goldcorp or even scuttle the deal, which would put Barrick on the hook for a huge break fee payable to Goldcorp. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. Compared to the same quarter past year, the firm's revenue was up by 400%. During the same period in the previous year, the company posted $0.39 earnings per share. Uniti Group Inc. has the potential to record -0.01 EPS for the current fiscal year, according to equities analysts.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. The ex-dividend date is Wednesday, March 6th. Its down 0.31, from 1.2 in 2018Q2. JP Morgan maintained Newmont Mining Corporation (NYSE:NEM) rating on Monday, September 17. It was published in February by FINRA the 10.85 million shorted shares on NEM. The stock of Newmont Mining Corporation (NYSE:NEM) earned "Neutral" rating by IBC on Tuesday, January 15. The 12-month potential price target for Newmont Mining Corporation is set at $40. ValuEngine lowered shares of Newmont Mining from a "buy" rating to a "hold" rating in a report on Monday, February 4th. On Tuesday, January 15 the rating was upgraded by Canaccord Genuity to "Buy".

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BARRICK Gold confirmed it had "reviewed the opportunity" of merging with Newmont Mining in an all-share nil premium transaction. Following the completion of the sale, the insider now directly owns 129,110 shares in the company, valued at approximately $4,245,136.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Newmont declined a request from Reuters for comment. The shares were sold at an average price of $32.88, for a total value of $131,520.00. Following the completion of the sale, the insider now owns 129,110 shares of the company's stock, valued at $4,245,136.80. The disclosure for this sale can be found here. The stock increased 3.02% or $1.07 during the last trading session, reaching $36.48.

While talking about Newmont Mining Corporation (NYSE:NEM) valuation ratios, the stock trades with a P/S and P/B of 2.64 and 1.78 which is significantly better and attractive as compared to its peers. If you are accessing this piece on another site, it was copied illegally and republished in violation of USA and worldwide copyright and trademark laws. Pennsylvania-based Riggs Asset Managment Incorporated has invested 0% in Newmont Mining Corporation (NYSE:NEM).

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry.

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