Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, May 19, 2023

Article Excerpt

NEWMONT CORP., $43.66, New York symbol NEM, remains a buy for your long-term growth and as a hedge against inflation. The company is the world’s largest gold miner, with major mines in North America, South America, Australia, and Africa. In addition to gold, it also produces copper, silver, lead and zinc. This week, Newcrest Mining Ltd. (Toronto symbol NCM, and Over-the-counter Pink Sheets symbol LDNXF), which operates gold mines in Australia, Canada and Papua New Guinea, accepted Newmont’s latest takeover offer. As a result, Newcrest shareholders will receive 0.40 of a Newmont common share. That’s  would give them roughly 31% of the combined company. As well, Newcrest would pay its shareholders a special dividend of up to $1.10 a share. Based on current share prices, the new offer (including the special dividend) is worth roughly $16.6 billion. To put that in context, Newmont’s market cap is $34.4 billion. If Newcrest shareholders and regulators approve, Newmont expects to complete the acquisition in the third quarter of…