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MarketScreener Homepage  >  Equities  >  Nyse  >  Newmont Mining Corporation    NEM

NEWMONT MINING CORPORATION

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Newmont Mining : Says Penasquito Blockade Lifted, But Suspension Continues

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10/09/2019 | 10:08am EDT

By Colin Kellaher

Newmont Goldcorp Corp. (NEM) Wednesday said a blockade at its Penasquito mine in Mexico has been lifted, but it said operations remain suspended while it seeks government assurances that the blockade won't be allowed to resume.

The Denver mining giant formed by the merger of Newmont Mining Corp. and Goldcorp Inc. said the blockade, which began Sept. 14, reduced the mine's third-quarter production by about 11,000 ounces of gold and roughly 51,000 gold-equivalent ounces from co-products.

Newmont last month said talks to resolve issues with a trucking contractor and some members of the Cedros community over water had broken down, and that the blockage, which had been lifted in April, was back in effect.

The company Wednesday said it continues to work with Mexican government authorities on a sustainable, long-term solution, adding that the lifting of the blockade paves the way for talks to resume.

The mine, part of the former Goldcorp, was hit by previous blockades in 2018, 2017 and 2016.

Write to Colin Kellaher at colin.kellaher@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
GOLD 0.22% 1493.3 Delayed Quote.15.57%
NEWMONT MINING CORPORATION 1.27% 38.31 Delayed Quote.9.18%
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Financials (USD)
Sales 2019 10 015 M
EBIT 2019 1 674 M
Net income 2019 841 M
Debt 2019 3 642 M
Yield 2019 1,46%
P/E ratio 2019 32,5x
P/E ratio 2020 17,0x
EV / Sales2019 3,50x
EV / Sales2020 2,78x
Capitalization 31 401 M
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 46,94  $
Last Close Price 38,31  $
Spread / Highest target 56,6%
Spread / Average Target 22,5%
Spread / Lowest Target -0,81%
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Managers
NameTitle
Gary J. Goldberg Chief Executive Officer & Director
Thomas R. Palmer President
Noreen Doyle Independent Non-Executive Chairman
Rob Atkinson Chief Operating Officer & Executive Vice President
Nancy K. Buese Chief Financial Officer & Executive Vice President
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