Barron’s Top Weekend Stock Picks: JP Morgan, Microsoft, Newmont And Why Apple Is Climbing As Banks Collapse
Benzinga reviews this weekend's top stories covered by Barron's. Here are the articles investors need to read.
Looking To Play The Gold Miner Sector To The Upside? This ETF Offers 2X Leverage
Direxion Daily Gold Miners Index Bull 2X Shares (NYSE: NUGT) gapped up 3.4% higher on Wednesday, where the ETF ran into a group of sellers who knocked it down over 4% from the open.
EXCLUSIVE: Ceo.ca’s Joshua Duggan On The Next Commodity Bull Run And What’s Spurring It (AMC Entertainment, Elon Musk?)
Spot gold has enjoyed a bull market for the last few months amid rising inflation and recession fears, despite the recent pullback. The current downturn the commodity is experiencing could signal good news for miners, however, who often see a trickle-down effect, lagging a bull run in spot gold.
Earnings Scheduled For February 23, 2023
Companies Reporting Before The Bell
• ChipMOS TECHNOLOGIES (NASDAQ:IMOS) is likely to report earnings for its fourth quarter.
UBS Downgrades Newmont to Neutral, Lowers Price Target to $53
UBS analyst Cleve Rueckert downgrades Newmont (NYSE:NEM) from Buy to Neutral and lowers the price target from $59 to $53.
Exane BNP Paribas Upgrades Newmont to Outperform, Announces $60 Price Target
Exane BNP Paribas analyst Sylvain Brunet upgrades Newmont (NYSE:NEM) from Neutral to Outperform and announces $60 price target.
What To Watch On This 2X Leveraged ETF (NUGT) As Gold Miner Merging Season Kicks Off
Direxion Daily Gold Miners Index Bull 2X Shares (NYSE: NUGT) spiked up over 5% at one point on Tuesday.
Barrick Gold Unlikely To Offer Rival Bid For Australia-Based Newcrest Mining Deal
Barrick Gold Corp (NYSE:GOLD) has denied a counterbid for Newcrest Mining (OTC: NCMGY) (OTC: NCMGF), eliminating what had seemed to be the most…
Newcrest Mining Confirmed Receipt Of Conditional And Non-binding Indicative Proposal From Newmont Corporation To Acquire 100% Of The Issued Shares Of Newcrest At Ratio Of 0.363 Newmont Shares/Newcrest Share
Following recent media speculation, Newcrest Mining Limited (ASX, TSX, PNGX: NCM) confirms that on 5February 2023 it received a conditional and non-binding indicative proposal from Newmont Corporation (Newmont) to acquire 100% of the issued shares of Newcrest by way of a scheme of arrangement (Indicative Proposal).