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NEM

Newmont Mining Corporation (Holding Company)

6/19/2013, 12:07 AM ET

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Tuesday, June 18, 12:17 PM Thousands of opponents of the $5B Minas Conga copper and gold project in Peru march on Lake Perol, vowing to stop Newmont Mining (NEM -3%) from eventually draining it to reservoirs NEM and partner Buenaventura (BVN -2.6%) are building. Protesters, who fear the mine would threaten their water, say they plan to build a permanent camp near the lake to impede work on the site. Comment! [Commodities, On the Move]
Wednesday, June 12, 2:18 PM Gold miners (GDX +1%) turn positive as gold climbs past $1,390/oz.: ABX +0.9%, GG +1.1%, NEM +1.2%, IAG +2.1%, GFI +1.3%, AUY +2.4%, NGD +1.3%. The link between gold miners and gold has been strong lately: The 24-day correlation between the spot price of gold and GDX has remained above 90% for five days, the longest such streak since July 2012. 5 Comments [Commodities, On the Move]
Friday, June 7, 7:15 PM Many gold miners still offer attractive dividends, but Newcrest Mining's (NCMGF.PK) likely dividend cut and Newmont Mining's (NEM) earlier dividend reduction have sector investors wondering if their stock is next. Miners are widely cutting exploration and capex to boost cash flow and try to return cash to shareholders, but dividend levels often are linked to gold prices. If prices keep falling, it seems sure that dividends would follow. 2 Comments [Commodities]
Friday, June 7, 2:09 PM Gold miners large (GDX -4.1%) and small (GDXJ -5.3%) alike are suffering a beat-down after jobs data from both the U.S. and Canada beat estimates; gold's gains for the week are entirely erased, and the metal "could melt even faster" if the global recovery continues. ABX -4.2%, AEM -6.7%, NEM -2.8%, GG -4.5%, AU -5.5%, EGO -5%, KGC -5.3%. SLW -2.8%, SSRI -7.3%, EXK -5.9%. GLD -2%, SLV -4.1%. 39 Comments [Commodities, On the Move]
Thursday, May 30, 5:39 PM Protests in Peru over Newmont Mining's (NEM) $5B Conga gold mine make "no sense" and could spell the end of the project if they succeed in preventing the draining of a nearby lake, the CEO of junior partner Buenaventura (BVN) says. Tensions flared up again this week over the proposed mine, with hundreds of protesters taking to the streets and ending nine months of relative calm. Comment! [Commodities]
Tuesday, May 21, 9:41 AM IAMGOLD (IAG -4.9%) reports encouraging drill results from its Boto Gold project in West Africa, saying drilling continues to return wide intervals with good grades, confirming previous results and further extending the zones drilled. But gold miners (GDX -2.5%) are broadly lower as futures resume their descent after yesterday's wild ride: KGC -4.7%, EGO -4.6%, GFI -3.6%, ABX -2.8%, GG -2.2%, NEM -1.8%. Comment! [Commodities, On the Move]
Monday, May 20, 12:57 PM As precious metals prices turn around, share prices of gold (GDX +4.7%) and silver miners (SIL +3.1%) surge: ABX +5.9%, GG +4.5%, KGC +6.4%, NEM +4.7%, SLW +4%. Even South African producers turn mixed, despite the call from the country's mine workers union for big pay increases: AU -0.8%, GFI +1.5%, HMY -0.5%. 2 Comments [Commodities, On the Move]
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]

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