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Berger: Mergers in the gold market
Newmont Mining Corp. appears to have reopened merger negotiations with Barrick Gold Corp. sending the company’s stock soaring. A previous deal to merge the two gold mining conglomerates fell apart in mid-April after a disagreement over the division of assets. Newmont CEO, Gary Goldberg commented last Thursday at the company’s annual meeting that the negotiations might be resumed.
The stock rallied upon the Goldberg’s comments and Serge Berger, better known as The Steady Trader, is expecting the rally to continue into this week. Overall, Berger maintains a favorable stance on gold mining companies given the late cyclical bull market and increasing rate of inflation.
He is looking to buy the stock at USD 26.50 with a target of USD 28.50. A stop can be placed at USD 25.50.
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01:11 minutes
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