The most prominent, of course, is the takeover of S&P/ASX 200 Index (ASX: XJO) gold share Newcrest Mining Ltd (ASX: NCM) by American gold mining giant Newmont Corporation (NYSE: NEM).

Newcrest shares had their last day of trading on the ASX last week on 26 October. Shares closed out the past 12 months up 35%.

With the gold price up 21% over the past year to US$1,984.18 per ounce, investor interest in the gold mining sector has been rekindled.

As has the potential of further takeovers.

We'll get to one particular ASX gold stock that Romano Sala Tenna, portfolio manager at Katana Asset Management, believes is ripe for a takeover in a tick.

But first…

What's happening with the gold price?

There are a lot of company-specific factors that will determine how well a gold stock performs. But the price of gold is a big one to watch.

On that front, the World Gold Council's Q3 Gold Demand Trends report revealed that quarterly global demand hit 1,147 tonnes, 8% higher than the five-year average.

Over the quarter, central banks bought 337 tonnes of the yellow metal. The 800 tonnes central banks have now bought year to date is a new record high in the World Gold Council's data series.

And the outlook for the gold price remains strong.

World Gold Council senior markets analyst Louise Street said, "Looking forward, with geopolitical tensions on the rise and an expectation for continued robust central bank buying, gold demand may surprise to the upside."

Which brings us back to…

Why this ASX gold stock could be targeted for takeover

The ASX gold stock in question is De Grey Mining Ltd (ASX: DEG).

The De Grey Mining share price has lagged the broader gold miners' rally this year, as the company is still in the project development stage.

Management is targeting first gold from the company's Hemi gold mine – located in the Pilbara in Western Australia – in H2 2026.

De Grey recently released its Hemi Definitive Feasibility Study (DFS), reporting "outstanding physical and financial metrics". It's forecasting annual production of some 530,000 ounces per year at an all-in sustaining cost (AISC) of $1,229 per ounce.

On the balance sheet, the miner held $83 million in cash with no debt as at 30 September,

Sala Tenna believes the ASX gold stock is "considerably undervalued".

Citing the Hemi's status as "the third largest undeveloped gold project globally" alongside its ideal location in the Pilbara, Sala Tenna said he couldn't envision how "it doesn't get taken out at some point".

He added that the 530,000 tonnes per annum of gold production from the DFS only factored in reserves at Hemi, noting "substantial" potential upside on the horizon from ongoing drilling and exploration.

On the takeover front, Sala Tenna said, "For cashed-up global producers, this stock must surely be the standout on all metrics."

Katana Asset Management isn't alone in its bullish outlook for this ASX gold stock.

Goldman Sachs has a buy rating on De Grey Mining, with a price target of $1.40 per share.

That represents a 23% potential upside from the current $1.14 per share.

The post Is this ASX gold stock ripe for a takeover offer? appeared first on The Motley Fool Australia.

Since this time last year, the ASX 200 is down 2.3%.

But with most Aussie gold stocks rallying, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) – which also contains some smaller miners outside of ASX 200 gold shares – has soared 37.3% in 12 months.

Here's how these three big gold producers have fared over the full year:

• Northern Star Resources Ltd (ASX: NST) shares are up 33.1%
• Ramelius Resources Ltd (ASX: RMS) shares are up 112.4%
• Newcrest Mining Ltd (ASX: NCM) shares are up 32.8%

Atop their own mining successes, the miners have all enjoyed some heady tailwinds from a rising gold price.

This time last year an ounce of gold was trading for US$1,634. Today that same ounce is worth US$1,979, a gain of more than 21%.

And that run higher may not be over yet.

More tailwinds for ASX 200 gold shares?

According to the World Gold Council's Q3 Gold Demand Trends report, quarterly global demand for the yellow metal (excluding over the counter) reached 1,147 tonnes. That's 8% higher than the five-year average.

And ASX 200 gold shares have central banks to thank for some of their outperformance, with the World Gold Council pointing to ongoing central bank bullion buying as helping maintain this "historic pace".

Indeed, Q3 saw central banks buying 337 tonnes of bullion, the third strongest quarter of net buying on record. That brings year to date central bank purchases to 800 tonnes, representing a new all-time high in the World Gold Council's data series.

On the supply side of the equation, total gold supply increased by 6% year on year in Q3. The report indicated that mine production reached a year-to-date record of 2,744 tonnes.

Now what?

Looking to what could impact ASX 200 gold shares in the months ahead, the World Gold Council report notes that, "This strong buying streak from central banks is expected to stay on course for the remainder of the year, indicating a robust annual total again in 2023."

Commenting on the outlook for the yellow metal, and by connection ASX 200 gold shares, World Gold Council senior markets analyst Louise Street said:

Looking forward, with geopolitical tensions on the rise and an expectation for continued robust central bank buying, gold demand may surprise to the upside.

"Gold is the classic safe-haven asset," Shane Oliver, chief economist at AMP, added (quoted by The Australian Financial Review).

According to Oliver:

It's really that demand pushing it up. There are also more signs the Fed is close to the top on interest rates – if the Fed delivers some sort of easing and a declining US dollar next year, that's positive for gold as well.

The post Buying ASX 200 gold shares? Here's why global gold demand 'may surprise to the upside' appeared first on The Motley Fool Australia.

At present, Newcrest shares are going for $23.19 each. That's down a hefty 2% at present from yesterday's close of $23.65.

But this steep fall aside, it remains a monumental day in the history of Newcrest Mining. That's because today, Thursday 26 October, is the last day that Newcrest shares will trade on the ASX.

Investors who have been keeping abreast of news in the ASX gold mining space will be well aware that Newcrest has spent most of this year locked in a corporate courtship. The giant American gold miner Newmont Corporation (NYSE: NEM) has been pursuing a full takeover of Newcrest for most of the year.

The company's last (and successful) offer to acquire Newcrest came back in April. Back then, Newmont offered Newcrest shareholders 0.4 Newmont shares for every Newcrest share owned. That valued the company at $32.87 a share at the time.

In May, this offer was given the green light by the Newcrest board. But it was only earlier this month that Newcrest shareholders voted in an overwhelming 93% majority to go ahead with the takeover.

After all regulatory hurdles were overcome, the scheme was put into effect. Thus, today will be the last day that Newcrest shares will grace the ASX boards. Here's how S&P Dow Jones Indices put it this morning:

S&P Dow Jones Indices announced today that it will remove Newcrest Mining… from the S&P/ASX 200 Index, as a result of the scheme of arrangement whereby the company will be acquired by Newmont Corporation…

S&P Dow Jones Indices will remove Newcrest Mining Limited from the S&P/ASX 200 effective prior to the open of trading on Friday, October 27, 2023. Newcrest Mining Limited will be replaced by Newmont Corporation CDIs (ASX: NEM) in the S&P/ASX 200 effective prior to the open of trading on Friday, October 27, 2023.

Big ASX news: Newcrest shares to depart ASX 200 forever

As S&P pointed out, it's not exactly the end of the road for Newcrest shareholders though. For anyone who still owns the company as of the end of trading today, their Newcrest shares will be exchanged for ASX-listed CHESS Depository Interests (CDIs) in Newmont Group. That will occur at the rate of 0.4 Newmont CDIs for every Newcrest share owned, as we discussed above.

These Newmont CDIs will represent an indirect investment in the US-listed Newmont. Those Newcrest shareholders will then own a small part of a global gold mining behemoth with a market capitalisation of US$29.22 billion.

Newcrest has been listed on the ASX since 1987. So it's a big deal to see this company depart the stock exchange after more than three and a half decades of ASX membership. Interestingly, Newcrest used to be a part of Newmont prior to the 1980s. As such, this is a bit of a 'back to the future' moment for both companies.

Newmont CDIs will hit the ASX (and ASX 200 Index) tomorrow, where they will trade with the ticker code 'ASX: NEM'.

The post It's time to say goodbye to Newcrest shares on the ASX appeared first on The Motley Fool Australia.

But despite this sluggish performance from the broader market, I fortunately have a few stocks that have performed far better than the index. Let's discuss my best ASX shares.

3 of my best-performing ASX shares in 2023

Newcrest Mining Ltd (ASX: NCM)

My position in ASX 200 gold miner Newcrest has been a bright star in my portfolio this year. Since January, the Newcrest share price has gained a healthy 15.3%, helping to buttress my portfolio against other losses.

There's no mystery with this one. The takeover offer from the giant US gold miner Newmont Corporation (NYSE: NEM) has lit a fire under the Newcrest share price in 2023.

Shareholders in Newcrest will do especially well when the monster US$1.10 per share dividend is paid out in a few days' time, coming just after Newcrest is set to depart the ASX forever on 26 October.

BetaShares NASDAQ 100 ETF – Currency Hedged (ASX: HNDQ)

This exchange-traded fund (ETF) has been another major winner in my ASX portfolio in 2023 to date. HNDQ units have bucked the ASX mightily, rising a very welcome 31.9% over the year so far.

The NASDAQ 100 ETF tracks the US NASDAQ-100 Index (NASDAQ: NDX). This index houses most of America's large tech stocks, including Apple, Microsoft, Alphabet, Netflix and Amazon.

These stocks have done a lot better than most this year, which explains why this tech-heavy ETF has been such a winner.

MFF Capital Investments Ltd (ASX: MFF)

Finally, let's talk about the listed investment company (LIC) MFF Capital. This LIC also holds mostly US shares, which again explains why investors have been benefitting from a stonking 28.6% runup in the MFF share price so far this year.

MFF holds a relatively concentrated portfolio of quality names, including Amazon, Alphabet, Mastercard and Visa. It manages this portfolio on behalf of its investors.

Unlike the HNDQ ETF, this ASX share isn't currency hedged, which means that the falling Australian dollar is giving its share price an extra boost. Needless to say, I've very much appreciated having this LIC as a core component of my portfolio. It is one of my best ASX shares in 2023 so far.

The post Here are my best ASX shares of 2023 so far appeared first on The Motley Fool Australia.

No matter who comes first, both are going to put in a reliably outstanding performance.

ASX mining shares and ASX bank stocks have long histories as reliable ASX dividend shares.

The mining shares can outdo bank stocks quite substantially when commodity prices are high, but regardless, you're going to get a very decent dividend yield out of both of them over the long term.

But just for fun (we're nerdy like that here at the Fool), let's take a look at whether ASX mining shares or ASX bank stocks will pay more than the other in FY24.

Will ASX mining shares reign supreme in FY24?

For the purposes of this article, let's stick to large-cap stocks, which are those with market caps above $10 billion. These are big, established companies delivering reliable earnings year after year.

The tables below showcase the dividend forecasts published on CommSec that are current as of today.

Drum roll, please…  

How much will these ASX mining shares pay in FY24?

How much will these ASX bank stocks pay in FY24?

The conclusion…

Based on these dividend forecasts and today's share prices, the banks win!

The average forecast yield among this group of bank shares is 5.9%. The average forecast yield among this group of mining shares is 4%.

The post Which will deliver better dividends in FY24: ASX mining shares vs. bank stocks appeared first on The Motley Fool Australia.

Four ASX shares that are dragging on the market today are listed below. Here's why they are falling:

Bapcor Ltd (ASX: BAP)

The Bapcor share price is down a further 5.5% to $5.59. Investors have been selling this auto parts retailer's shares this week following a disappointing annual general meeting update. The team at Morgan Stanley wasn't impressed, noting that Bapcor's update fell short of expectations. As a result, the broker has retained its underweight rating with a $6.20 price target.

Credit Corp Group Limited (ASX: CCP)

The Credit Corp share price is down 30% to $11.99. Investors have been hitting the sell button today after the debt collector downgraded its FY 2024 profit guidance. This has been driven by a major impairment of the carrying value of its US Purchased Debt Ledger assets. Statutory net profit after tax was expected to be $90 million to $100 million. This has now been downgraded to a range of $35 million to $45 million.

Hub24 Ltd (ASX: HUB)

The Hub24 share price is down almost 7% to $31.35. This may have been driven by a lukewarm reaction to the investment platform provider's quarterly update from brokers. For example, Macquarie responded by retaining its neutral rating and trimming its price target to $33.40. It believes Hub24's shares are fully valued now.

Newcrest Mining Ltd (ASX: NCM)

The Newcrest share price is down 6.5% to $25.16. This has been driven by the gold miner's shares going ex-dividend today for its US$1.10 per share special dividend. This dividend, which is part of its takeover by Newmont Mining (NYSE: NEM), will be paid to eligible shareholders on 27 October.

The post Why Bapcor, Credit Corp, Hub24, and Newcrest shares are tumbling today appeared first on The Motley Fool Australia.

In morning trade, the gold miner's shares are down almost 7% to $25.08.

Why is the Newcrest share price sinking?

Thankfully for the company's shareholders, today's decline isn't because of a Liontown Resources Ltd (ASX: LTR)-Albemarle Corp (NYSE: ALB) style takeover collapse.

The deal with Newmont Corporation (NYSE: NEM) is well and truly going ahead.

In fact, it is because of this that its shares are falling today. With the deal on the verge of completion, Newcrest is now permitted to pay a special dividend to its shareholders.

Earlier this month, the Newcrest board determined to pay a fully franked dividend of US$1.10 per share if the takeover went ahead. This equates to approximately A$1.73 per share at current exchange rates.

When is payday?

Newcrest plans to pay this special dividend to shareholders before the end of the month. A payday of 27 October has been noted by management.

And based on yesterday's Newcrest share price of $26.90, this represents a very attractive 6.4% dividend yield. This is broadly in line with how much the company's shares have fallen today.

To put that yield into context, it would mean that a $10,000 investment in Newcrest shares would result in special dividends of approximately $640.

Farewell Newcrest, hello Newmont

With the Federal Court of Australia approving Newmont's takeover of Newcrest, it won't be long until its shares leave the ASX boards. The last day of trading in Newcrest shares is expected to be 26 October.

After which, on 30 October, the scheme consideration of 0.4 Newmont shares for each Newcrest share held will be issued to eligible shareholders.

Newmont CDI (ASX: NEM) will then commence trading on the ASX boards a little over a week later on 7 November.

The post Why is the Newcrest share price sinking 7% today? appeared first on The Motley Fool Australia.

Shares in the S&P/ASX 200 Index (ASX: XJO) gold stock closed yesterday trading for $26.86. At time of writing, shares are swapping hands for $27.18 apiece.

For some context, the ASX 200 is up 0.9% at this same time.

Here's what's drawing investor interest today.

What did the ASX 200 gold miner report?

The Newcrest share price is well into the green today following the release of the ASX 200 gold miner's quarterly update.

Among the highlights of the three-month period, Newcrest shareholders widely voted in favour of United States-based Newmont Corporation's (NYSE: NEM) acquisition of 100% of Newcrest's shares by way of a scheme of arrangement.

With Newmont confirming that all required government regulatory approvals have been obtained, Newcrest said it will now seek approval from the Federal Court of Australia today, 17 October.

Should the court green light the deal, management expects it will become effective tomorrow, on 18 October. That will see the Newcrest share price frozen once shares are suspended from trading on the ASX at the close of trading on 26 October.

Management expects the implementation of the scheme to occur on 6 November.

As a sweetener for shareholders, the Newcrest board decided to pay a fully franked special dividend of US$1.10 per Newcrest share. Investors not yet holding shares and looking to bank that dividend will need to be quick, as the ASX 200 gold stock trades ex-dividend tomorrow.

What else happened during the quarter?

Over the three-month period, Newcrest reported gold production of 454,000 ounces. Copper production came in at 31,000 tonnes.

The All-In Sustaining Cost (AISC) for the gold produced was $1,397 per ounce. That delivered an AISC margin of $470 per ounce.

Gold production was 18% lower than the prior period, which came amid planned maintenance shutdowns during the quarter. Newcrest said this was consistent with prior years.

Newcrest interim CEO Sherry Duhe commented:

On behalf of the board and management team I would like to extend our sincere thanks to all our stakeholders for their outstanding contributions to the success of Newcrest.

Leading the Newcrest team has been a great privilege, and as the next chapter of Newcrest's story unfolds, I very much look forward to seeing the growth and development of our world-class portfolio of gold and copper assets as part of the combined group.

Newcrest share price snapshot

The Newcrest share price has been a strong performer over the past 12 months, up 60%.

The post Newcrest share price lifts as Newmont takeover approaches final approval appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Owners of Newcrest Mining Ltd (ASX: NCM) shares will soon gain entitlement to their dividend. However, interested investors will need to be quick to buy if they want the dividend as well.

The gold miner is currently being acquired by Newmont Corporation (NYSE: NEM). Last week, Newcrest's shareholders voted in favour of the takeover going ahead, with 92.6% of votes supporting the deal.

Incoming special dividend and ex-dividend date

On 5 October 2023, Newcrest announced a special fully franked dividend of US$1.10 per Newcrest share, subject to the takeover going ahead.

Newcrest shares will go ex-dividend on 18 October 2023, which is Wednesday. That means ASX investors need to own shares before the end of trading tomorrow to gain entitlement to the incoming dividend.

Newcrest plans to pay this special dividend less than two weeks away, on 27 October 2023, so investors won't need to wait for long.

At the current Newcrest share price, the upcoming dividend could be approximately A$1.75 in Australian dollar terms. That would represent a cash dividend yield of 6.75% and a grossed-up dividend yield of 9.6%.

What next for Newcrest shares?

Newcrest shareholders will be entitled to 0.4 Newmont shares for each Newcrest share held on the record date, which is 30 October 2023.

The planned implementation date of the acquisition is 6 November 2023. Newmont CHESS depositary interests (CDIs) will list on the ASX on 26 October 2023.

The post Investors wanting to own Newcrest shares need to be quick! It's almost dividend time appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

As many investors would be aware, Newcrest is currently in the midst of a takeover proposal from the giant US-listed gold miner Newmont Corporation (NYSE: NEM).

Newcrest and Newmont have been locked in a courtship dance ever since the Coloradoan gold giant first revealed its interest in the ASX-listed Newcrest back in February. Newmont made a couple of offers in the following months. The final offer of 0.4 Newmont shares for every Newcrest share owned was made in early April. That valued Newcrest at $32.87 a share at the time.

At today's Newmont share price and currency rates, this offer is worth approximately $24.53 per Newcrest share.

In May, Newcrest's board announced that the offer had been given the board's approval and recommendation. And today, Newcrest shareholders got to voice their say on the offer as well.

Newcrest shares rise as Newmont merger overwhelmingly endorsed by shareholders

And it was almost unanimous. In a statement put out to ASX investors this afternoon, Newcrest confirmed that 92.63% of votes cast were in favour of the Newmont acquisition.

The proposed merger will now head to the Federal Court on 17 October next week for final approval. If the Court gives the green light, Newcrest's last day of ASX life will be 26 October later this month. Shareholders will then receive their new Newmont CHESS Depositary Interest (CDI) shares the following day.

Earlier this month, Newcrest announced that its shareholders will be treated to a special, fully franked dividend worth US$1.10 per share before the merger goes through if it is approved. Since all looks well on that front, Newcrest investors can pencil in 27 October for that payday.

The Newcrest Mining share price has reacted to this news well today so far. At the time of writing, Newcrest shares are up a rosy 0.9% at $26.03 each.

The post Guess what 93% of Newcrest shareholders just voted for appeared first on The Motley Fool Australia.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to sink

The Australian share market looks set to end the week on a disappointing note following a poor session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 60 points or 0.85% lower this morning. In late trade in the United States, the Dow Jones is down 0.4%, the S&P 500 is down 0.5%, and the NASDAQ is down 0.5%.

Oil prices mixed

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) will be on watch after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is down 0.1% to US$83.43 a barrel and the Brent crude oil price is up 0.65% to US$86.38 a barrel. IEA has downgraded its demand forecasts for 2024.

Newcrest scheme meeting

Newcrest Mining Ltd (ASX: NCM) shareholders will be voting on its takeover at a scheme meeting today. The gold miner is in the process of being acquired by US gold giant Newmont Corporation (NYSE: NEM) for 0.4 Newmont shares plus a US$1.10 per share special dividend for each Newcrest share they own.

Gold price falls

ASX 200 gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a soft finish to the week after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.3% to US$1,882.2 an ounce. A stronger US dollar and treasury yields weighed on gold.

ResMed shares named as buy

Analysts at Goldman Sachs feel that yesterday's ResMed Inc (ASX: RMD) share price selldown is a buying opportunity. It has looked into the new Ozempic data and isn't concerned. In fact, the broker "make[s] no changes to our forecasts, and reiterate our Buy-rating on RMD." Its price target of $33.00 implies almost 50% upside. Goldman has also left its earnings estimates for CSL Limited (ASX: CSL) unchanged.

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

ASX gold shares are on fire today, with most gold miners banking gains of at least 5%.

Take the largest ASX gold stock on the stock market, Newcrest Mining Ltd (ASX: NCM). At the time of writing, Newcrest shares have soared 5.07% to $25.50 each.

Then there's Northern Star Resources Ltd (ASX: NST). This gold stock has rocketed 5.46% to $11.39 a share.

Gold Road Resources Ltd (ASX: GOR) is lagging a little relative to its peers but is still up 4.3% to $1.75.

But not so with Bellevue Gold Ltd (ASX: BGL). The Bellevue Gold share price has vaulted 6.91% higher to $1.47 a share.

De Grey Mining Limited (ASX: DEG) is leading the pack though. De Grey shares are currently up a whopping 8.97% to $1.21.

So what's going on here with the ASX gold sector that is seeing these gold miners enjoy such conspicuous gains this Monday?

Why are most ASX gold shares surging by 5% or more?

Well, it's probably a couple of factors. The first is the gold price itself. We don't yet have fresh gold pricing for this week out of the US markets. But as it currently stands (according to CNBC), gold futures are already baking in a 0.94% rise to US$1,862.80 per ounce. This is likely to be supporting ASX gold mining shares on the stock market today.

But the other factor we must consider is the dire events that are occurring in the Middle East right now. Israel has declared war against the Gaza-based Hamas group after Hamas fighters attacked Israel in some of the worst violence the region has seen for decades.

Gold is treated by most investors as a safe haven asset, particularly in times of economic or geopolitical turmoil. Well, there is most certainly far more of the latter right now than there was last week. No one knows how long this war is going to last, what its cost will be and how it will affect global markets.

In this climate of fear and uncertainty, it's no surprise to see investors run into assets that they see as providing safe haven protections and a hedge against geopolitical instability. So I wouldn't be surprised to see the gold price continue to rise amid this terrible situation.

Investors might be banking on this today, and thus rushing into gold mining shares as a consequence.

The post Here's why ASX gold shares are rocketing 5% today appeared first on The Motley Fool Australia.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to edge higher

The Australian share market looks set to end the week on a mildly positive note despite a subdued session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 6 points or 0.1% higher this morning. In late trade on the United States, the Dow Jones is flat, the S&P 500 is down 0.1%, and the NASDAQ is down 0.1%.

Oil prices fall

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices dropped again overnight. According to Bloomberg, the WTI crude oil price is down 2.1% to US$82.43 a barrel and the Brent crude oil price is down 1.85% to US$84.23 a barrel. Demand concerns are weighing on oil prices.

Sell Adbri shares

Adbri Ltd (ASX: ABC) shares are overvalued according to analysts at Goldman Sachs. This morning, the broker has downgraded the building materials company's shares to a sell rating with a $1.85 price target. It said: "We sit -4%/-6% behind Visible Alpha consensus EBIT in FY24/25 with a more gradual margin improvement (despite sitting 1%/-1% vs consensus revenues in FY24/25)."

Gold price edges lower

ASX 200 gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Ltd (ASX: NCM) could have a soft finish to the week after the gold price edged lower overnight. According to CNBC, the spot gold price is down slightly to US$1,834.1 an ounce. Higher for longer interest expectations mean gold is on course for its ninth consecutive decline.

Dividends being paid

A number of ASX 200 shares will be rewarding their shareholders with their latest dividend payments today. This includes waste management company Cleanaway Waste Management Ltd (ASX: CWY), gold miner Evolution Mining Ltd (ASX: EVN), telco Spark New Zealand Ltd (ASX: SPK), and software company WiseTech Global Ltd (ASX: WTC).

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

At the time of writing, the gold miner's shares are up 0.5% to $24.06.

Why is the Newcrest share price rising?

Investors have been buying the company's shares this morning after it announced plans to reward shareholders with a special dividend.

According to the release, the Newcrest board has determined to pay a fully franked dividend of US$1.10 per share. This equates to approximately A$1.74 per share at current exchange rates.

Based on where the Newcrest share price closed yesterday's session, this represents a very generous 7.3% dividend yield.

What's going on?

As readers may be aware, Newcrest is currently in the process of being acquired by US gold mining giant Newmont Corporation (NYSE: NEM).

The two parties have agreed terms on a deal that will see Newcrest shareholders receive 0.4 Newmont shares for each share they own. The agreement also permitted Newcrest to pay a fully franked special dividend of up to US$1.10 per share.

Combined, at the time of the agreement, this implied an offer of $29.27 per share and valued Newcrest at $28.8 billion.

When is this dividend being paid?

The release reveals that eligible shareholders will be paid this special dividend later this month on 27 October. However, this is dependent on shareholders voting in favour of the takeover at a scheme meeting on 13 October. If the deal is not approved, the dividend will be cancelled.

To be eligible for the proposed dividend, you will need to own Newcrest shares before they go ex-dividend on 18 October.

The Newcrest share price is now up a sizeable 34% over the last 12 months.

The post Newcrest share price rises on big special dividend plans appeared first on The Motley Fool Australia.

That's the view of analysts at Bell Potter, which see huge upside ahead for the ASX 200 gold share.

Why this ASX 200 gold share?

According to the note, Bell Potter has responded positively to the company's definitive feasibility study (DFS) for its 100% owned Hemi Gold Project in Western Australia.

It believes the DFS points to the Hemi Gold Project being a tier one project. The broker said:

The DFS outcomes were in-line with our expectations. Overall, we view the HGP DFS as a key de-risking milestone for DEG and the project. It is a high confidence, comprehensive evaluation of the project and, in our view, confirms it as a global Tier 1 asset.

Potential takeover target?

Given the size and location of the project, the broker has suggested that the ASX 200 gold share could be an attractive option for Newcrest Mining Ltd (ASX: NCM) suitor Newmont Corporation (NYSE: NEM). In fact, it feels that the big gold miners can't afford to not acquire it. Bell Potter explains:

It also fits with Newmont Corporation's definition as follows: a gold project producing +500koz gold equivalent ounces per annum, with average AISC/oz in the lower half of the industry cost curve and a mine life >10 years in countries that, on average, are classified in the A and B credit rating ranges.

In our view, competitive advantage in the mining sector is built primarily on asset quality. This study shows the HGP is relevant to the world's largest gold mining companies and to be an asset they can't afford not to own.

Big upside ahead

Bell Potter has a speculative buy rating and a $1.80 price target on the company's shares. This implies a potential upside of 70% from current levels.

The post 'An asset they can't afford not to own': The ASX 200 gold share with 70% upside appeared first on The Motley Fool Australia.

Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to rebound

The Australian share market looks set to end the week on a positive note following a good session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 40 points or 0.6% higher this morning. In the United States, the Dow Jones was up 0.35%, the S&P 500 rose 0.6%, and the NASDAQ climbed 0.8%.

Oil prices fall

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 2.1% to US$91.74 a barrel and the Brent crude oil price is down 1.45% to US$95.14 a barrel. Traders were taking profit after oil prices hit their highest levels of the year.

Sell Premier Investments shares

Premier Investments Limited (ASX: PMV) shares are overvalued according to analysts at Goldman Sachs. In response to the retailer's FY 2023 results, the broker has reiterated its sell rating with a $21.50 price target. It said: "Premier Investments remains exposed to discretionary consumption categories including those like sleepwear which were COVID beneficiaries. We believe this has not been priced in by the recent share price de-rating and expect further margin pressures."

Gold price falls again

ASX 200 gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Ltd (ASX: NCM) could have a poor finish to the week after the gold price fell again overnight. According to CNBC, the spot gold price is down 0.4% to US$1,883.3 an ounce. Higher for longer interest rate expectations are weighing on the precious metal.

Buy the Brickworks dip

The team at Bell Potter believes that investors should be buying Brickworks Limited (ASX: BKW) shares following a selloff on Thursday. The broker has responded to the company's FY 2023 results by retaining its buy rating with a trimmed price target of $28.50. It said: "BKW is currently trading at levels consistent with a ~20% depression correction of its property trust value, which we continue to see as excessive."

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to sink again

The Australian share market looks set to end the week with another sizeable decline following a selloff on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 100 points or 1.4% lower this morning. In the United States, the Dow Jones was down 1.1%, the S&P 500 fell 1.65%, and the NASDAQ dropped 1.8%.

Oil prices fall

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor session after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 1% to US$89.58 a barrel and the Brent crude oil price is down 0.3% to US$93.29 a barrel. Rate hike fears are weighing on oil prices.

Rupert Murdoch steps down

News Corporation (ASX: NWS) shares will be on watch today after Rupert Murdoch announced that he will be stepping down from the role as chairman of the media giant. He will be replaced by his son Lachlan Murdoch following its annual general meeting in November.

Gold price tumbles

ASX 200 gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Ltd (ASX: NCM) could have a difficult finish to the week after the gold price tumbled lower overnight. According to CNBC, the spot gold price is down 1.4% to US$1,939.9 an ounce. Rate hike concerns put pressure on the precious metal.

BHP and Rio Tinto to fall

It looks set to be a tough day for ASX 200 iron ore mining shares such as BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) on Friday. Overnight the benchmark iron ore price fell 3.6% to US$117.4 a tonne. On Wall Street, the two mining giants dropped approximately 3%.

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