Newmont Miners to Receive Funds to Prolong Strike in Mexico: Bloomberg

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Newmont Corporation ($NYSE:NEM) is an American-based multinational mining company that specializes in gold mining. It is one of the world’s largest gold producers with operations in 10 countries. According to Bloomberg, Newmont miners may now have the financial resources to prolong their strike in Mexico. The miners are protesting a lack of job security and wages, as well as the company’s environmental policies. Bloomberg reported that the miners have received funds from a variety of organizations, including the United Steelworkers, which is the largest industrial union in North America. The funds are likely to provide the miners with the necessary resources to continue the strike, allowing them to push for better wages and benefits. The strike has been successful in forcing Newmont to agree to some of their demands, including the negotiation of a new collective contract. The long-term effects of the strike are still uncertain, as both sides remain locked in a stalemate.

However, the funds provided to the miners will enable them to keep up their fight against Newmont, ensuring that their demands for better pay and conditions are heard. Only time will tell if Newmont will be able to come to an agreement with the miners or if the strike will continue on for days to come.

Stock Price

On Wednesday, NEWMONT CORPORATION stock opened at $43.0 and closed at $42.1, down by 0.8% from the previous closing price of 42.4. The drop in stock prices was attributed to news that Newmont miners in Mexico will be receiving funds to keep their strike alive. With the aid of a large donation from Fundación Unidos por la Esperanza, the miners have been able to continue their protest and keep it going. This news could be seen as a positive sign for the miners, as they gain more support for their cause and are given the resources needed to continue the strike.

However, the implications of the donation on Newmont’s stock prices are yet to be seen as investors watch to see how the situation develops. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Newmont Corporation. More…

Cash Flow Snapshot

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Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Newmont Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Newmont Corporation are shown below. More…

Analysis

As an independent financial data provider, GoodWhale is well-suited to analyze the financials of NEWMONT CORPORATION. Furthermore, GoodWhale’s Star Chart places this company in the ‘cow’ category, meaning that it has a track record of paying out consistent and sustainable dividends. Given this financial profile, we believe that NEWMONT CORPORATION may be an attractive investment option for investors who are looking for a steady and reliable dividend stream. On the other hand, investors who are looking for rapid growth may not find NEWMONT CORPORATION to be an ideal fit. When it comes to financial health, NEWMONT CORPORATION fares favorably with an 8/10 score in GoodWhale’s Cashflow and Debt Health Metric. This suggests that it is capable of managing its debt obligations and riding out any crisis without the risk of bankruptcy. More…

Peers

Newmont Corp is one of the world’s leading gold miners. Its main competitors are Barrick Gold Corp, Agnico Eagle Mines Ltd, and Anglogold Ashanti Ltd. Newmont has a long history of successful gold mining operations, and is one of the largest gold producers in the world.

– Barrick Gold Corp ($TSX:ABX)

Barrick Gold Corporation is a gold mining company that has operations in Argentina, Australia, Canada, Chile, the Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, Tanzania, and the United States. The Company produces and sells gold and copper, with gold mines that include Cortez, Goldstrike, and Turquoise Ridge. Barrick also has a joint venture with Newmont Corporation. The Company’s shares are traded on the Toronto Stock Exchange and the New York Stock Exchange.

– Agnico Eagle Mines Ltd ($TSX:AEM)

Agnico Eagle Mines Ltd is a gold producer with operations in northwestern Quebec, northern Mexico, and Nunavut, Canada. The company has a market cap of 26.78 billion as of 2022 and a return on equity of 4.04%. Agnico Eagle Mines Ltd is a gold producer with operations in northwestern Quebec, northern Mexico, and Nunavut, Canada. The company has a market cap of 26.78 billion as of 2022 and a return on equity of 4.04%.

– Anglogold Ashanti Ltd ($LTS:0HFY)

Anglogold Ashanti Ltd is a gold mining company with a market cap of 5.28B as of 2022. The company has a return on equity of 15.08%. Anglogold Ashanti Ltd is engaged in the exploration, development, and mining of gold properties. The company was founded in 1944 and is headquartered in Johannesburg, South Africa.

Summary

Newmont Corporation is a gold mining company headquartered in Colorado, United States, with operations around the world. The company has recently experienced a strike in Mexico, which may be extended due to potential funds from Newmont miners. This could have a significant impact on the company’s stock price. Investors should carefully analyze Newmont’s financials and performance metrics such as its debt-to-equity ratio, earnings per share, and operating margin.

Furthermore, they should consider the impact of the Mexican strike on their investment decisions and the potential risks it brings to the company. Knowing the latest news and developments can also be beneficial when making investing decisions.