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.

Continue reading Newmont Mining: Choppy Uptrend

Newmont Mining: Choppy Uptrend originally appeared on BloggingStocks on Mon, 24 May 2010 18:00:00 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.

This post was written by Minyanville contributor Lance Lewis.

Banro (NYSE: BAA) jumped 13% yesterday after the company announced that it had finally completed its bankable feasibility study on its Twangiza project and proved up nearly 4 mln ounces of its 10 mln ounce resource. Thus, we can now calculate an NAV for BAA.

BAA has no debt. So, assuming $1,000 gold, 3.67 mln ounces of Proven & Probable reserves, an average cash cost of $429 per ounce over the life of the mine (which is based on the feasibility study), and the estimated $410 mln required for cap ex, we get an NAV of almost $15 a share (which gives zero value to the company's current cash balance of around $20 mln and its remaining 5.6 mln ounce resource at Twangiza, not to mention the resource estimates at its other properties).

Continue reading Banro (BAA): A golden stock

Banro (BAA): A golden stock originally appeared on BloggingStocks on Tue, 27 Jan 2009 13:15:00 EST. Please see our terms for use of feeds.

Here are a few highlights from this past week's earnings coverage from BloggingStocks:

• Amkor Technology Inc. (NASDAQ: AMKR) easily beat estimates and raised its guidance.
• Crocs Inc. (NASDAQ: CROX) posted solid fourth-quarter results on strong overseas sales.
• DealerTrack Holdings (NASDAQ: TRAK) fourth-quarter revenue rose, but the credit crunch hurt results.
• Garmin Ltd. (NASDAQ: GRMN) fourth-quarter earnings soared on strong holiday sales.
• Gilat Satellite Networks Ltd. (NASDAQ: GILT) posted strong quarterly and full-year results.
• HJ Heinz Co. (NYSE: HNZ) raised its guidance productivity gains and favorable exchange rates.
• JAKKS Pacific Inc. (NASDAQ: JAKK) posted solid results, lifted by Hannah Montana and Disney toys.
• Marvel Entertaiment Inc. (NYSE: MVL) earnings doubled despite investment in films not yet released.
• Newmont Mining Corp. (NYSE: NEM) swung to a fourth-quarter loss despite rising gold prices.
• Safeway Stores Inc. (NYSE: SWY) met fourth-quarter earnings estimates, ending its best year since 2001.
• Wal-Mart Stores Inc. (NYSE: WMT) posted its first $100 billion quarter but lowered its forecast.

Also, Jim Cramer sees Hewlett-Packard as a market bellwether, and Ted Allrich looks at some other bellwether stocks. Sheldon Liber gets a sense of deja vu from Exxon Mobil's (NYSE: XOM) big profits and its tussle with Chavez.

Upcoming results to watch for include Nordstom Inc. (NYSE: JWN), Macy's Inc. (NYSE: M), Washington Post Co. (NYSE: WPO), Dell Inc. (NASDAQ: DELL), Sprint-Nextel Corp. (NYSE: S), and Sears Holdings Corp. (NASDAQ: SHLD).

Visit AOL Money & Finance for more earnings coverage.

Earnings highlights: Wal-mart, Crocs, Garmin, Safeway, Newmont and others originally appeared on BloggingStocks on Sat, 23 Feb 2008 09:40:00 EST. Please see our terms for use of feeds.

Among companies reporting quarterly earnings on Thursday were Safeway Stores Inc. (NYSE: SWY), the largest food retailer in North America, and Newmont Mining Corp. (NYSE: NEM), one of the world's largest gold producers.

Despite ongoing efforts to upgrade the image of its stores, Safeway, which reported that fourth-quarter earnings in-line with the consensus estimates of analysts surveyed by Thomson Financial, also reported that same-store sales slowed.

The quarterly earnings came to $301.1 million, or 68 cents per share, for the period that ended December 29, down 2% from $307.9 million, or 69 cents per share, in the same quarter of 2006, when tax benefits lifted results. Excluding that gain, earnings per share would have climbed by more than 11%. Fourth-quarter revenue rose 7% to $13.36 billion, which beat the analysts' average estimates.

Despite signs of a slowdown, the fourth quarter capped Safeway's most profitable year since 2001. The company earned $888.4 million, or $1.99 per share, on sales of $42.3 billion, compared to earnings of $870.6 million, or $1.94 per share, on revenue of $40.2 billion in 2006. For 2008, Safeway forecast earnings of $2.25 to $2.35 per share, in-line with analysts' expectations.

Safeway shares fell more than $3 in morning trading, reaching a new 52-week low of $28.80.

Continue reading Earnings recap: Safeway profit slips; Newmont swings to loss

Earnings recap: Safeway profit slips; Newmont swings to loss originally appeared on BloggingStocks on Thu, 21 Feb 2008 15:03:00 EST. Please see our terms for use of feeds.

Lots more quarterly reports rolled out this past week, and here are some highlights of earnings coverage from BloggingStocks:

• Alcatel-Lucent (NYSE: ALU) reported more losses and more job cuts.
• Alvarion Ltd.'s (NASDAQ: ALVR) record quarter fuels speculation of a Cisco (NYSE: CSCO) buyout.
• Avon Products Inc.'s (NYSE: AVP) profit rose 61%, buoyed by strength in emerging markets.
• Chevron Corp. (NYSE: CVX) fell short of expectations due to tighter margins.
• CIGNA Corp. (NYSE: CI) had a solid quarter but warned about 2008 earnings.
• Clorox Co. (NYSE: CLX) blamed profit loss on materals costs, and announced acquistion of Burt's Bees.
• Colgate-Palmolive Co. (NYSE: CL) beat estimates by a penny and had strong sales overseas.
• Crocs Inc. (NASDAQ: CROX) beat earnings estimates and revised its full-year forecast.
• Dell Inc. (NASDAQ: DELL) announced it would restate revenues, ahead of its November quarterly report.
• Exxon Mobil Corp. (NYSE: XOM) missed expectations, also due to tighter margins.
• Given Imaging Ltd. (NASDAQ: GIVN) cited FDA approval delays for disappointing results.
• Hertz Global Holdings Inc. (NYSE: HTZ) posted record revenues and appointed a new CFO.
• Humana Inc.'s (NYSE: HUM) positive surprise lifted the share price to a new all-time high.

Continue reading Earnings highlights: Crocs, Exxon, Kraft, P&G, Sirius, and others

Earnings highlights: Crocs, Exxon, Kraft, P&G, Sirius, and others originally appeared on BloggingStocks on Sat, 03 Nov 2007 10:10:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Citigroup cut Vonage Holdings Corp (NYSE: VG) to Sell from Hold on patent litigation concerns as the firm believes the risk to profitability has increased.

• General Maritime Corp (NYSE: GMR) was downgraded to Sell from Hold on valuation with a $23 target.

• Newmont Mining Corp (NYSE: NEM) was downgraded to Neutral from Overweight at HSBC.

• Lehman downgraded shares of Edison International (NYSE: EIX) to Equal-Weight from Overweight on valuation.

• Deutsche Bank cut Volvo (NASDAQ: VOLV) to Sell from Hold. Friedman, Billings, Ramsey downgraded shares of SafeNet, Inc (SFNT) based on the Vector acquisition.

• CIBC downgraded Agnico-Eagle Mines Ltd (NYSE: AEM) to Sector Perform from Outperform on valuation as the firm expects an upcoming downward correction due to lower zinc prices.

• Ryan Beck cut Fulton Financial Corp (NASDAQ: FULT) to Market Perform from Outperform with a $16 target; SunTrust Robinson downgraded shares to Neutral from Buy due to the early payment defaults.

• Matrix cut Christopher & Banks Corp (NYSE: CBK) to Sell from Hold on valuation.

• Golden Star Resources Ltd (AMEX: GSS) was downgraded to Market Perform from Outperform at BMO Capital.

• UBS cut Ingersoll-Rand Co Ltd (NYSE: IR) to Neutral from Buy with a $47 target.

Analyst downgrades 3-27-07: Both Vonage & Volvo were downgraded today originally appeared on BloggingStocks on Tue, 27 Mar 2007 10:56:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• General Motors Corporation (NYSE: GM) is reportedly attempting to tighten its financial reporting procedures, the Wall Street Journal (subscription required) reported. The auto maker is under investigation by the SEC and a federal grand jury for its accounting of transactions as far back as 2000.
• The Financial Times (subscription required) reported that Dow Chemical Company (NYSE: DOW) is in talks with India's Reliance Industries for a joint venture that would enable Dow to reduce its exposure to commodity products and gain access to cheaper raw materials. Indian newspapers report that a deal could lead to a full takeover by Reliance.

• According to the Korea Economic Daily, citing an unnamed Posco ADS (NYSE: PKX) executive, a senior Arcelor Mittal Steel Company (NYSE: MT) executive expressed interest in Posco's merger plans. Posco denied the report, saying "There was no discussion on issues related to M&A when the Mittal executive met Posco CEO last month," according to the Economic Times.
• The Independent reported that Imperial Tobacco Group plc (NYSE: ITY) has made a GBP7.6B bid for the Franco-Spanish tobacco company Altadis. The private equity firm Kohlberg Kravis Roberts is also reported to have interest in acquiring Altadis. An Imperial-Altadis merger could derail a hostile bid by Kohlberg Kravis Roberts.
  
• BusinessWeek's "Inside Wall Street" section mentioned Newmont Mining Corp (NYSE: NEM), CB Richard Ellis Group Inc (NYSE: CBG) and Superior Energy Services Inc (NYSE: SPN) positively.
• Which gold producer will shine brightest? Newmont Mining "is the one," says Vincent Carrino, Chief of Brookhaven Capital Management, which has loaded up on its stock.
  
• Douglas Roberts at Channel Capital Research Institute doesn't see the Fed cutting rates soon, and hence he likes CB Richard Ellis Group.
• Superior Energy Services aims to be everything to oil-and-gas explorers in the Gulf of Mexico, and in most cases it is. "Superior can't keep up with the tremendous demand for its repair and recovery services, which will provide strong growth through the end of the decade," says Martin Sass, CEO of MDSass, which owns a 1.2% stake.

Newspaper wrap-up 3-16-07: Imperial Tobacco bids for Altadis originally appeared on BloggingStocks on Fri, 16 Mar 2007 09:34:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• L-3 Communications Holdings Inc (NYSE: LLL) was downgraded by Bank of America to Neutral from Buy based on valuation, as they see limited upside from current levels. The firm's target for L-3 is $92.
• NewMont Mining Corp (NYSE: NEM) was downgraded by RBC Capital Markets to Underperform from Sector Perform based on Newmont's weak production profile and declining financial forecasts. The firm lowered its price target for Newmont to $48 from $52.

• K Swiss Inc (NASDAQ: KSWS) was downgraded by Susquehanna to Neutral from Positive. The firm does not believe domestic sales will stabilize until 2008 and sees European growth being less robust over the next several quarters.
  
• Alltel Corporation (NYSE: AT) was downgraded at Deutsche Bank to Hold from Buy on valuation. The firm's target for Alltel is $63.

Analyst downgrades 2-23-07: Newmont Mining downgraded to Underperform originally appeared on BloggingStocks on Fri, 23 Feb 2007 12:20:00 EST. Please see our terms for use of feeds.

Gold up big: Stay with Newmont Mining originally appeared on BloggingStocks on Thu, 22 Feb 2007 12:15:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY: Palm Inc. (PALM) and SiRF Technology (SIRF) topped today's list of upgrades.

• ThinkEquity upgraded Palm, Inc. (NASDAQ:PALM) to Buy from Accumulate and said that the delay in 750 certification, Palm's shortfall, should be resolved by the early part of the third quarter.
• Morgan Stanley upgraded shares of SiRF Technology Holdings, Inc. (NASDAQ:SIRF) to Equal-Weight from Underweight; they now believe consensus estimates are in-line with their own.

OTHER UPGRADES:

• The Bombay Co. (NYSE:BBA) was upgraded to Buy from Neutral at Friedman Billings Ramsey; they believe management has worked hard to turn the company around and that Bombay has the ability to make money over time.
• Pacific Crest upgraded BEA Systems (NASDAQ:BEAS) to Outperform from Sector Perform with a $16 target and said BEA System's sell-off is overdone.
• Harmony Gold (HMY) was upgraded to Neutral from Underweight and Newmont Mining (NEM) to Overweight from Neutral at HSBC.
• Lehman Bros. upgraded Electronic Data Systems (EDS) to Overweight from Equal-Weight with a $32 target; following discussions with management, Lehman's confidence in the company's ability to cut costs and increase margins have improved.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst upgrades 11-28-06: Palm upgraded to Buy originally appeared on BloggingStocks on Tue, 28 Nov 2006 11:03:00 EST. Please see our terms for use of feeds.