Morningstar | With the Goldcorp Acquisition Now Complete, Newmont Is the World’s Largest Gold Company. See Updated Analyst Note from 18 Apr 2019
On April 18, Newmont completed its acquisition of Goldcorp, creating Newmont Goldcorp, the world’s largest gold company. We fully anticipated the merger to be consummated as announced, especially after Newmont and Barrick agreed to the Nevada joint venture that brought Barrick’s unsolicited bid of Newmont to an end. Our forecasts are unchanged, so we maintain our fair value estimate of $40 per share and our no-moat rating. Considering the company’s very high uncertainty rating, we see limited risk-adjusted upside at current share prices.Newmont is primarily a gold producer with operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia and Ghana. The company is also engaged in the production of copper, silver, lead and zinc. The company's operations are organized in five geographic regions; North America, South America, Australia, Africa and Nevada.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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