Investors are losing patience with Newmont Mining (NEM) after the share price has been cut in half since 2011, urging the miner to either rekindle the aborted deal with Barrick Gold or break itself up, WSJ reports.
Investors "are frustrated because they wanted something to happen... [NEM] hasn't communicated the specifics of what they're doing," says USAA portfolio manager Dan Denbow.
"What we want is synergies from the Nevada operation," says Chris Mancini of Gabelli Gold Fund, one of NEM's largest investors; he says he has told the company it should merge with Barrick and then spin off the combined Nevada operations.
Other analysts say losing scale isn't always the best option, given that it becomes more difficult to raise debt; others say the various scenarios struggle to take into account NEM's troubled Indonesian copper operation.
NEM +1% premarket.