Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, February 10, 2023

Article Excerpt

NEWMONT CORP., $47.98, New York symbol NEM, remains a buy, for your long-term growth and as a hedge against inflation. The stock gives you exposure to the world’s largest gold miner following Newmont’s April 2019 acquisition of Vancouver-based Goldcorp Inc. It paid $10 billion in cash and shares. Newmont’s mines are in North America, South America, Australia, and Africa. In addition to gold, it also produces copper, silver, lead and zinc. The company has offered to acquire Newcrest Mining Ltd. (Toronto symbol NCM, and Over-the-counter Pink Sheets symbol LDNXF). It operates gold mines in Australia, Canada and Papua New Guinea. Newmont deal is for 0.38 of a common share for every share of Newcrest. Based on current prices, the offer is worth $16.3 billion. That’s equal to 42% of Newmont’s $38.4 billion market cap (the total value of all outstanding shares). Newcrest shareholders would own about 30% of the merged firm. Newcrest recently rejected a lower exchange ratio of 0.368 shares but is now considering…