Continue reading Newmont Mining: For Now, Stand Aside

Newmont Mining: For Now, Stand Aside originally appeared on BloggingStocks on Thu, 10 Mar 2011 15:30:00 EST. Please see our terms for use of feeds.

Newmont Mining (NEM) is primarily a gold producer with significant assets or operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico. Newmont Mining competes with other international gold producers like Barrick Gold (ABX), AngloGold Ashanti (AU) and Goldcorp (GG).

Launch of Coverage on Newmont Mining; $80.90 Price Estimate

We recently launched coverage on Newmont Mining with an $80.90 price estimate for the company's stock. Our number stands roughly 35% above market price.

Continue reading Coverage Launch: $81 Trefis Price Estimate for Newmont Mining

Coverage Launch: $81 Trefis Price Estimate for Newmont Mining originally appeared on BloggingStocks on Thu, 03 Mar 2011 14:00:00 EST. Please see our terms for use of feeds.

While gold may be in a new bull move, the shares of Newmont Mining (NEM) have been slipping lately. In Thursday morning trading, the stock price was off 2.24% even though the company posted a solid earnings report.

Profits came to $812 million, or $1.61 per share, up from $558 million, or $1.13 per share in the same period a year ago. During this period, revenues increased slightly from $2.52 billion to $2.55 billion.

Continue reading Newmont Falls Despite Earnings Beat

Newmont Falls Despite Earnings Beat originally appeared on BloggingStocks on Thu, 24 Feb 2011 15:30:00 EST. Please see our terms for use of feeds.

Newmont Mining (NEM), first discussed here on June 3, 2009, at a price of $46.42, retreated slightly in late 2010 after pushing through $65, but that may be viewed as opportunity to consider the shares, if you missed the June 2009 entry point.

Newmont has the right commodities for globalization's third decade: copper and gold. However, it's not a stock for squeamish or low-risk investors: Newmont's stock practically defines uptrend volatility. Therefore, if you're looking for a steady, predictable, staircase north, it's probably best to skip NEM.

Continue reading Newmont Mining: Take Advantage of the Bull Market in Copper

Newmont Mining: Take Advantage of the Bull Market in Copper originally appeared on BloggingStocks on Thu, 06 Jan 2011 11:00:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: QE2 Follow-On and Obama Compromise (ADBE, AMGN, AAPL, DAL, NEM, QCOM, WFMI)

Closing Bell: QE2 Follow-On and Obama Compromise (ADBE, AMGN, AAPL, DAL, NEM, QCOM, WFMI) originally appeared on BloggingStocks on Thu, 04 Nov 2010 16:00:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Goldman upgraded BP (BP) to buy from neutral.
• STEC (STEC) was upgraded to buy from hold at Needham.
• MCG Capital (MCGC) was upgraded to buy from hold at BB&T.
• Corporate Office (OFC) was upgraded to market perform from underperform at FBR Capital.
• Citigroup upgraded K-Sea Transportation (KSP) and Post Properties (PPS) to hold from sell.
• BofA/Merrill upgraded Embraer (ERJ) to buy from underperform.
• Wilmington Trust (WL) was upgraded to neutral from underperform at Macquarie.
• Parkway Properties (PKY) was upgraded to hold from sell at Stifel Nicolaus.

Continue reading Analyst Calls: BP, EOG, FDO, MOT, MRO, NEM, NOK, ODP, RIMM, TGB ...

Analyst Calls: BP, EOG, FDO, MOT, MRO, NEM, NOK, ODP, RIMM, TGB ... originally appeared on BloggingStocks on Wed, 03 Nov 2010 11:30:00 EST. Please see our terms for use of feeds.

Newmont Mining (NEM) reported Q3 EPS on Nov. 2. Gold is recently down 0.43% to $1,363, according to Bloomberg. Put option implied volatility is at 37, January is at 36, near its 26-week average, according to Track Data, suggesting non-directional price movement.

EXCO Resources (XCO) announced that its Chairman and CEO, Douglas H. Miller, has proposed to purchase all of the outstanding shares of the company for $20.50 per share. November option implied volatility of 31 is below its 26-week average of 41, according to Track Data, suggesting decreasing price movement.

Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Options Update: Newmont Mining Volatility Flat into Gold Production Outlook originally appeared on BloggingStocks on Tue, 02 Nov 2010 08:30:00 EST. Please see our terms for use of feeds.

It will be a busy week. Republicans are poised to gain control of the House of Representatives and gain governorships in Tuesday's mid-term elections. Also, the Federal Reserve is expected to announce another round of quantitative easing Wednesday, following the FOMC meeting. Major retailers are scheduled to report October same-store sales Thursday, while the October unemployment rate, announced on Friday, is expected to remain at 9.6%.

Toyota's (TM) fiscal second-quarter results will be one of the highlights on the earnings front this week. After three periods of way underestimating Toyota's earnings, have the analysts surveyed by Thomson Reuters got it right this time? The stock sure could use a boost. Teva Pharmaceuticals (TEVA) is in a similar situation; i.e., high expectations for this week's quarterly results but a stock in need of a boost. Marathon (MRO) and Starbucks (SBUX) are also expected to post strong earnings growth this week, but both stocks are riding high.

Continue reading Week in Preview: Election, QE2, Unemployment and More Earnings

Week in Preview: Election, QE2, Unemployment and More Earnings originally appeared on BloggingStocks on Sun, 31 Oct 2010 12:30:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Mixed Day Ahead of Earnings and Unemployment (ANF, BMC, NEM, MAR, PEP)

Closing Bell: Mixed Day Ahead of Earnings and Unemployment (ANF, BMC, NEM, MAR, PEP) originally appeared on BloggingStocks on Thu, 07 Oct 2010 16:20:00 EST. Please see our terms for use of feeds.

Put volume skyrocketed Tuesday on Newmont Mining (NEM), with roughly 22,000 contracts crossing the tape within the first 90 minutes of the session. By contrast, NEM was only expected to see about 1,800 puts change hands -- so this surge represents about 12 times the norm.

The equity's November 60 put is far and away the most active. By 11 a.m., this out-of-the-money strike had already seen in excess of 13,200 contracts exchanged, with 59% of these puts trading at the ask price. Implied volatility on this back-month option has climbed by 2.6 percentage points to 35.2%, so it seems likely that buyers are driving the bulk of today's volume.

Continue reading Put Players Flock to Newmont Mining

Put Players Flock to Newmont Mining originally appeared on BloggingStocks on Tue, 05 Oct 2010 11:30:00 EST. Please see our terms for use of feeds.

Continue reading Newmont Mining Bounces Higher

Newmont Mining Bounces Higher originally appeared on BloggingStocks on Fri, 01 Oct 2010 14:30:00 EST. Please see our terms for use of feeds.

Continue reading Chasing Value: Beware of Gold Fever

Chasing Value: Beware of Gold Fever originally appeared on BloggingStocks on Mon, 27 Sep 2010 15:00:00 EST. Please see our terms for use of feeds.

Options Update: JP Morgan August Volatility Decreases to 30 from 37 originally appeared on BloggingStocks on Fri, 23 Jul 2010 09:00:00 EST. Please see our terms for use of feeds.

"While gold prices have surged 90% since year-end 2006, shares of Newmont Mining (NEM) still trade below their 2006 high of nearly $63 per share," observes Richard Moroney.

The editor of Dow Theory Forecasts, a blue-chip focused newsletter that has been published since 1946, explains, "Newmont generates more than 80% of its revenue from the sale \of gold, and the metal's recent strength has pushed earnings and cash flow sharply higher. As a result, the stock has seldom looked better under our "growth-at-a-good-price" approach.

Continue reading Newmont Mining (NEM): 'Growth at a Good Price'

Newmont Mining (NEM): 'Growth at a Good Price' originally appeared on BloggingStocks on Thu, 03 Jun 2010 13:30:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Deutsche Bank upgraded Barrick Gold (ABX) to buy from hold and reiterates a buy rating on Newmont Mining (NEM) after upping its 2011 gold forecast to $1,450 per ounce and 2012 forecast to $1,600 per ounce. The firm upped its target for Barrick shares to $53 from $45, for Newmont shares to $74 from $72, and on hold-rated Goldcorp (GG) and Kinross Gold (KGC) to $40 and $20, respectively.
• Citigroup upgraded General Dynamics (GD) to hold from sell following the recent pullback in shares. The firm keeps a $67 price target for the stock.
• UBS upgraded Public Service (PEG) to buy from neutral and has a $34 price target on the stock. The firm cites the company's solid balance sheet, earnings profile, and valuation for the upgrade.
• News Corp. (NWS) was upgraded to buy from hold at Soleil.
• AK Steel (AKS) was upgraded to neutral from underperform.
• Progress Energy (PGN) was upgraded to buy from neutral at BofA/Merrill.
• PNC Financial (PNC) was upgraded to outperform from market perform at Keefe Bruyette.

Continue reading Analyst Calls: ABX, AKS, BK, GBDC, GD, NEM, NWS, ODSY, PNC, UQM ...

Analyst Calls: ABX, AKS, BK, GBDC, GD, NEM, NWS, ODSY, PNC, UQM ... originally appeared on BloggingStocks on Tue, 25 May 2010 11:00:00 EST. Please see our terms for use of feeds.

Newmont Mining (NEM), which I first wrote about here on June 3, 2009, at a price of $46.42, still looks like it has the right stuff for future gains.

And that right stuff is: gold and copper. Newmont just posted Q4 EPS of $1.13, well above the First Call Q4 EPS estimate of 79 cents, on higher production volumes and better prices.

Continue reading Newmont Mining Has the Right Commodities

Newmont Mining Has the Right Commodities originally appeared on BloggingStocks on Fri, 26 Feb 2010 18:00:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: The Dollar and Overseas Markets Weigh on U.S. (C, HOV, NEM, RIMM, SQNM, GS, FUN)

Closing Bell: The Dollar and Overseas Markets Weigh on U.S. (C, HOV, NEM, RIMM, SQNM, GS, FUN) originally appeared on BloggingStocks on Thu, 17 Dec 2009 16:00:00 EST. Please see our terms for use of feeds.

Continue reading Newmont Mining: Pull-back is buy opportunity

Newmont Mining: Pull-back is buy opportunity originally appeared on BloggingStocks on Tue, 08 Dec 2009 15:30:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: The great mixed day (BDK, CHK, CSX, RIMM, NEM, WFC, HGSI)

Closing Bell: The great mixed day (BDK, CHK, CSX, RIMM, NEM, WFC, HGSI) originally appeared on BloggingStocks on Tue, 03 Nov 2009 16:00:00 EST. Please see our terms for use of feeds.

When gold miners and gun-toters lag the broader economy, it's usually a good sign that conditions are on the mend. Both sectors outperform when times were tough, but this year, their growth has slowed relative to the market has a whole.

The S&P 500 index has gained 57% since March 9, 2009, according to a USA Today report, while Barrick Gold (NYSE: ABX) and Newmont Mining (NYSE: NEM) are up 36% and 21%, respectively, for the same period. Smith & Wesson (NASDAQ: SWHC) is up 30%. Again, these are definitely respectable results, but they aren't keeping pace with the index.

Continue reading Guns and gold tell the story on the economy

Guns and gold tell the story on the economy originally appeared on BloggingStocks on Sun, 20 Sep 2009 11:40:00 EST. Please see our terms for use of feeds.