2022 was not a particularly active takeover year for the gold market. Besides many small deals, only the near-bidding war for Yamana Gold stood out. But in the new year, the picture is likely to change due to valuations. We take a look at four possible takeover candidates!
Gold 2022: Not quite a bad year!For gold and gold stocks, 2022 was not a particularly good year, but not a bad one either. Despite the difficult market environment with rising interest rates and costs, gold in U.S. dollars traded practically at the level as at the beginning of the year and was able to nearly completely recover the losses from the summer. In many other currencies, it was even possible to earn good money with gold, we send our greetings to investors in London, Istanbul or Buenos Aires. With gold, many investors have definitely been able to spare themselves the big losses on the general stock markets, especially in the tech sector or even with Bitcoin and other Cryptos.
In principle, there is nothing standing in the way of a good year in 2023, because the markets are assuming that at least the pressure from the interest rate front will ease and that the Federal Reserve will hardly raise interest rates because inflationary pressure is easing. This is not at all unlikely, as the base effect - 2022 saw the biggest price jumps in February and March - will take effect. However, the specter of inflation is unlikely to be entirely banished.
Takeovers in the gold sector: Only one near-bidding gameIn this environment, gold miners focused primarily on their cost management, and companies such as Agnico Eagle, Barrick Gold and Newmont showed that they had a reasonable grip on rising energy prices. In terms of M&A, on the other hand, things were largely quiet, even though there were many smaller deals. Only Gold Fields wanted to expand and, in the spring, offered more than $6 billion in its own shares for the Canadian producer Yamana Gold. After that, however, first the gold price and then the gold shares started to lurch, and the deal suddenly looked very expensive for Gold Fields. The South Africans were happy that Pan American Silver and Agnico Gold made a counteroffer for Yamana in the fall. Yamana is now being split up and first bidder Gold Fields should be quite happy about it as they have received a US$300mn break fee. Gold Fields boss Chris Griffith once said that you have to have at least a stock market valuation of US$20 billion if you don't want ...
Den vollständigen Artikel lesen ...
