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Investing in Colorado: Vail Resorts (MTN), Dynamic Materials (BOOM), Newmont Mining (NEM)

Where can you find the "Wall Street of the West?" In Colorado, of course -- specifically, Denver's 17th Street financial district.

Colorado's economy has come a long way from its foundation on trapping and mining. Denver's location, equidistant between Los Angeles and Chicago, between Seattle and New Orleans, has helped the Centennial State become the economic center of Rocky Mountain states -- even Denver's time zone and elevation help it keep in touch with the rest of the world. It's no wonder there's a large federal government presence in the state (U.S. Air Force Academy, NORAD, NOAA, Denver Mint, U.S. Geological Survey).

Companies such as Lockheed-Martin (NYSE: LMT), Qwest Communications (NYSE: Q), Comcast (NASDAQ: CMCSA), Molson Coors (NYSE: TAP), and Crocs (NASDAQ: CROX) offer a sense of the diversity of the state's economy. And so do the three companies examined here: Vail Resorts Inc. (NYSE: MTN), Dynamic Materials Corp. (NASDAQ: BOOM), and Newmont Mining Corp. (NYSE: NEM).

Continue reading Investing in Colorado: Vail Resorts (MTN), Dynamic Materials (BOOM), Newmont Mining (NEM)

Newmont Mining (NEM) to buy rival Miramar (MNG) for $1.53 billion

One of the largest gold mining companies in the world, Newmont Mining (NYSE: NEM), has announced that will be taking over Miramar Mining Corp. (NYSE: MNG) for around $1.53 billion.

Newmont, which is currently the world's second largest gold producer, has had partial ownership of MNG since 2005 when it acquired a 9.9% stake in the company after investing $36.4 million in a Canadian gold field known as the Hope Bay gold belt. Miramar's board has unanimously agreed to Newmont's take over bid and will be recommending that the company's shareholders approve the deal.

Shares of MNG have been soaring today on the announcement. After closing yesterday at $5.15, the stock has sky rocketed today, picking up 22.5% to $6.31, up $1.16. Newmont shares have also been rising today, picking up 2.0% to $45.73, up $0.90.

Full details on the takeover will be made available by the end of this month.

Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer

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Last updated: November 27, 2009: 07:12 AM

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