…made based on “magnificent opportunity.” Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) also sees oil and natural gas as good hedge against its current mining operations. In a way, both parties are correct. Will these acquisitions spread the company too thin? Probably. Are these good hedges against current mining operations? They have that potential.
Barrick taps two new execs for troubled Pascua-Lama project (Reuters)
Barrick Gold Corporation (USA) (NYSE:ABX) said on Tuesday it has tapped two high-profile mining executives to work on its suspended Pascua-Lama gold and silver mine project as it seeks to meet Chilean regulatory requirements to re-activate the project. Industry veteran Marcelo Awad, formerly the head of Chilean miner Antofagasta Minerals, has been named deputy director and will be in charge of advising the company on regulation and government relations. Eduardo Flores, the former general manager of Goldcorp Inc’s suspended El Morro project, will become Pascua-Lama’s senior vice-president. He will be the company’s representative to local and national authorities, Barrick Gold Corporation (USA) (NYSE:ABX) added in its statement.
Randgold Resources Ltd. (ADR) (GOLD), Yamana Gold Inc. (USA) (AUY): Gold Miners Are Hitting Deep Value Territory, Here Are Five Cheap Miners for Your Watch List (Insider Monkey)
Yamana Gold Inc. (USA) (NYSE:AUY) has demonstrated fairly impressive growth over the past ten years, and its share price has declined the least of the bunch over the trailing 12-month period (-11.7%). The company has also managed its costs well, but sports the highest TTM P/E. Unfortunately it is not as undervalued based on discounted cash flow, and a clear picture of its proven reserves could not be obtained from either analyst stock reports or its annual report.
Goldcorp Rating Reiterated by TheStreet (GG) (Mideast Time)
Goldcorp Inc. (USA) (NYSE:GG)‘s stock had its “hold” rating reaffirmed by research analysts at TheStreet in a report released on Tuesday, AnalystRatingsNetwork reports. The analysts wrote, “Goldcorp (GG) has been reiterated by TheStreet Ratings as a hold with a ratings score of C+. Goldcorp (NYSE: GG) traded up 0.94% on Tuesday, hitting $27.90. Goldcorp Inc. (USA) (NYSE:GG) has a 1-year low of $27.20 and a 1-year high of $47.42. The stock’s 50-day moving average is currently $32.34. The company has a market cap of $22.655 billion and a price-to-earnings ratio of 14.16.
Newmont Mining Rating Reiterated by BB&T (NEM) (The Utah People’s Post)
BB&T Corporation (NYSE:BBT) reiterated their buy rating on shares of Newmont Mining Corp (NYSE:NEM) in a research note issued to investors on Monday, Stock Ratings Network.com reports. The firm currently has a $52.00 target price on the stock. Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a hold rating on shares of Newmont Mining in a research note to investors on Thursday, April 11th. Separately, analysts at Deutsche Bank AG (USA) (NYSE:DB) reiterated a hold rating on shares of Newmont Mining Corp (NYSE:NEM) in a research note to investors on Thursday, April 11th. They now have a $40.00 price target on the stock, down previously from $47.00.
Weak Copper Prices Will Dull Freeport McMoran’s Earnings (Trefis)
Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), the world’s largest copper miner, is set to release its Q1 earnings on Thursday, April 18. The majority of the company’s revenues are derived from copper, which is extremely sensitive to cyclical industries like construction and industrial machinery manufacturing. These industries in turn are heavily influenced by…