February 22, 2019 / 1:14 PM / 3 months ago

BUZZ-Newmont Mining rises, Barrick Gold drops on M&A reports

** Newmont Mining shares jump 3.8 pct to $36.75 premarket, while Barrick Gold’s US-listed shares drop 2.6 pct

** Canada’s Barrick Gold is considering a hostile bid for Newmont for about $19 bln in stock, Globe and Mail reports, while Bloomberg reports Barrick had studied a bid

** Barrick bought Randgold Resources for $6.1 bln last month and has said is open to more M&As

** Newmont market cap was $18.86 bln as of Thursday, after a four-day rally driven by its Q4 results and Canada clearance for $10 bln deal to buy Goldcorp

** NEM’s premarket jump values the company at about $19.6 bln, while GOLD’s drop values the company at $22.6 bln

** Analysts’ median PT on NEM is $41, having risen 50 cents in past three months, Refinitiv data shows

** NEM up ~2 pct YTD, while GOLD is off 1.6 pct; the S&P/TSX global gold index has risen 5.6 pct (Reporting by Savio D’Souza)

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