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Newmont Mining Corporation (Holding Company)

5/20/2013, 4:59 AM ET

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Friday, May 17, 3:22 PM Gold miners (GDX -3.2%) take another beating as gold continues to lose its allure amid disclosures of reduced bets by hedge funds, a World Gold Council report showing gold demand at a three-year low, and a surging dollar. For the miners, it's an ugly world of lower production, higher costs and falling prices. At least nine miners hit 52-week lows: NEM -3%, GG -2.7%, AUY -4.8%, HMY -6.3%, AU -2.5%, BVN -1.1%, ANV -7.4%, NG -2.7%, GSS -5.8%. 18 Comments [Commodities, On the Move]
Friday, May 10, 12:23 PM The mini-recovery in gold and metals mining stocks is stopped as gold prices sink 3% today to ~$1,425/oz. after closing higher in each of the past two weeks. A breach of key chart levels is prompting heavy selling of gold futures, already under pressure from a stronger dollar and rising stock markets. Among big miners: ABX -3%, NEM -2.1%, GG -1.6%, KGC -3.8%, SLW -2.7%, FCX -1.8%. Comment! [Commodities, On the Move]
Wednesday, May 8, 2:05 PM Today's dead-cat bounce in the mining sector looks like a reaction to the overwhelming bearishness, expressed in the options market yesterday by heavy buying of GDX puts. Volume in the gold miners ETF (GDX +4.8%) is only about average so far, indicating mere short-covering and no stampede back into gold stocks, Randall Forsyth writes. ABX +7.6%, GG +4.5%, NEM +4%. 5 Comments [Commodities, On the Move]
Tuesday, May 7, 2:10 PM Some big moves in today’s options trading make it appear that investors are banking on another drop in the gold miners ETF (GDX -3%), already -36% YTD. Volume in GDX options is heaviest in the June $27 strike puts, where nearly 40K puts have traded vs. open interest of ~16K contracts. Big miners are broadly lower: HMY -5.5%, GFI -5.2%, AU -3.2%, ABX -3.1%, EGO -2.8%, NEM -2.2%, GG -2%. 3 Comments [Commodities, On the Move]
Tuesday, April 30, 2:27 PM Newmont Mining (NEM -6.5%) shares tumble to 2008 lows as mining costs keep leaking higher, even after costs surged 40% between 2010 and last year. Also, Q1 profits fell 36% and gold production slipped 11%. Jefferies cuts its target price to $32 from $40, perhaps the first of several downgrades and/or price-target cuts in store for NEM. 5 Comments [Commodities, On the Move]
Monday, April 29, 5:25 PM More on Newmont Mining's (NEM) Q1 results: Average consolidated costs applicable to sales were $758/oz. of gold, vs. $620 a year earlier and $740 consensus. Attributable gold production fell 11% Y/Y to 1.17M oz., while attributable copper output grew 9% to 38M lbs. Lowers full-year attributable and consolidated capex outlooks by $100M each to $2B-$2.2B and $2.3B-$2.5B, respectively. Shares -1.8% AH. 2 Comments [Commodities, Earnings, On the Move]
Monday, April 29, 5:02 PM Newmont Mining (NEM): Q1 EPS of $0.71 misses by $0.09. Revenue of $2.18B misses by $0.3B. Shares -1.5% AH. (PR) Comment! [Earnings, Breaking News, On the Move]
Monday, April 29, 11:39 AM Gold miners (GDX) have been smacked by plunging gold prices, but Citigroup and HSBC think they have further to fall. Citi worries about AngloGold (AU) because negative free cash flow would hit its "already stretched balance sheet," but Harmony Gold (HMY) has the balance sheet to weather similar problems; Gold Fields (GFI) is its sector favorite. HSBC cuts GFI, Agnico Eagle (AEM) and many others. 1 Comment [Commodities, Quick Ideas]
Monday, April 29, 12:10 AM Notable earnings after Monday’s close: ANAD, ANH, BWLD, CBL, CRK, CSE, CYH, DTLK, ESRX, GGP, HIG, HLF, HTZ, IDTI, JEC, MAS, MSTR, NEM, PCL, QGEN, RGR, RJET, RVBD, SBAC, SSW, SU, TXRH, VECO 1 Comment [Earnings]
Sunday, April 28, 5:35 PM Notable earnings after Monday’s close: ANAD, ANH, BWLD, CBL, CRK, CSE, CYH, DTLK, ESRX, GGP, HIG, HLF, HTZ, IDTI, JEC, MAS, MSTR, NEM, PCL, QGEN, RGR, RJET, RVBD, SBAC, SSW, SU, TXRH, VECO 1 Comment [Earnings]
Thursday, April 25, 6:01 PM Peru's Compania de Minas Buenaventura (BVN) CEO Roque Benavides says plans for the $5B Minas Conga copper and gold project being developed with Newmont Mining (NEM) could be further complicated due to lower mineral prices. The CEO also says BVN has been studying ways to cut costs at its Uchucchacua silver mine and Orcopampa gold mine. Comment! [Commodities, Global & FX]
Wednesday, April 24, 7:39 PM Newmont Mining Corp (NEM) declares $0.35/share quarterly dividend. For shareholders of record June 12. Payable June 27. Ex-div date June 10. (PR) Comment! [Dividends]
Wednesday, April 24, 12:20 PM Investors in gold miners (GDX +3.5%) feel good - at least for a day - after Barrick Gold's (ABX +3.1%) Q1 efforts to cut costs show some success. ABX reduced its 2013 capex forecast to $5.2B-$5.7B, and said all-in sustaining costs are seen at $950-$1,050/oz., vs. a Feb. 14 forecast of $1,000-$1,100. HMY +8.4%, GFI +5.1%, GG +3.7%, NEM +3.6%, EGO +3.2%, AU +3%. 3 Comments [Commodities, On the Move]
Tuesday, April 23, 6:30 PM S&P downgrades Newmont Mining (NEM) to negative from stable "following a sharp correction in gold prices given the heightened potential for leverage to exceed the maximum 2.5x EBITDA threshold that we view as supportive of the current rating, particularly if the lower price is sustained and production costs and capital spending are not reduced. The price drop also highlights the inherent volatility in precious metals prices." 3 Comments [Commodities, Breaking News]
Monday, April 22, 1:35 PM Shares of gold miners are mixed after Deutsche Bank's Jorge Beristain cuts price targets for several North American gold producers, warning that some may need to raise capital by selling new stock. Newmont Mining (NEM +0.2%) is cut to Sell from Hold with a $24 price target (from $40), while Barrick (ABX -1.7%) and Kinross (KGC +2.5%) are reduced to Hold from Buy (I, II). Goldcorp (GG +2.2%) is kept at Hold. 2 Comments [Commodities, Quick Ideas, On the Move]
Thursday, April 18, 10:17 AM At current prices, 15% of global gold miners probably are now underwater, according to Nomura's Tyler Broda, who also predicts gold could fall to as low as $1,000/oz. this year. Companies relying on a single asset and those in Africa, already struggling with deteriorating geopolitical risk, will find it more difficult to convince banks to fund projects, Broda says. 17 Comments [Commodities, Global & FX]

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