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Gold/Mining/Energy : Newmont Mining Becomes Largest Mine In US - Buys Sante Fe
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To: cyberforce who wrote (22)4/11/1997 7:35:00 PM
From: Dale Schwartzenhauer   of 65
 
The acquiring company usually takes an initial hit to its stock price, but if the acquisition is a good one, it will have long term benefits. It looks like gold stocks are in for a little more weakness, possibly in conjunction with the U.S. market, certainly in line with weaker gold prices near term. However, my charts indicate a very oversold condition in many of the larger gold issues, the XAU index, and to a lesser extent, gold and silver themselves. So I don't think you're far off, Newmont should be a good play in a rising gold market, which I think is close at hand.

Dale
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