Shares of Newmont Mining Corp. (NYSE:NEM) have been given an average recommendation of “Buy” by the twenty analysts that are covering the stock. Eight investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$40.36.
Several equities research analysts have issued reports on the stock. Morgan Stanley reiterated a “hold” rating and set a $41.00 price objective on shares of Newmont Mining Corp. in a research note on Tuesday, August 16th. Barclays PLC boosted their price objective on shares of Newmont Mining Corp. from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, August 8th. Citigroup Inc. reiterated a “buy” rating on shares of Newmont Mining Corp. in a research note on Thursday, August 18th. Zacks Investment Research downgraded shares of Newmont Mining Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Finally, Vetr downgraded shares of Newmont Mining Corp. from a “strong-buy” rating to a “buy” rating and set a $45.64 target price for the company. in a research note on Tuesday, September 6th.
Newmont Mining Corp. (NYSE:NEM) opened at 33.97 on Friday. The stock has a market capitalization of $18.02 billion, a P/E ratio of 459.05 and a beta of 0.25. The firm’s 50-day moving average is $39.34 and its 200 day moving average is $36.65. Newmont Mining Corp. has a 12 month low of $16.05 and a 12 month high of $46.07.
Newmont Mining Corp. (NYSE:NEM) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.14. Newmont Mining Corp. had a net margin of 0.51% and a return on equity of 3.89%. The company earned $2 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. Newmont Mining Corp.’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities analysts anticipate that Newmont Mining Corp. will post $1.80 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were issued a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.29%. Newmont Mining Corp.’s dividend payout ratio (DPR) is presently 166.69%.
In related news, EVP E Randall Engel sold 8,700 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of C$42.55, for a total value of C$370,185.00. Following the sale, the executive vice president now owns 219,389 shares of the company’s stock, valued at approximately C$9,335,001.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen P. Gottesfeld sold 10,000 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of C$41.59, for a total transaction of C$415,900.00. Following the completion of the sale, the executive vice president now directly owns 122,857 shares in the company, valued at approximately C$5,109,622.63. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its position in shares of Newmont Mining Corp. by 2,276.7% in the third quarter. Advisory Services Network LLC now owns 11,313 shares of the company’s stock worth $445,000 after buying an additional 10,837 shares in the last quarter. F&V Capital Management LLC raised its position in shares of Newmont Mining Corp. by 6.6% in the third quarter. F&V Capital Management LLC now owns 173,015 shares of the company’s stock worth $6,798,000 after buying an additional 10,680 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Newmont Mining Corp. by 15.4% in the third quarter. BNP Paribas Arbitrage SA now owns 530,771 shares of the company’s stock worth $20,854,000 after buying an additional 70,678 shares in the last quarter. LVM Capital Management Ltd. MI bought a new position in shares of Newmont Mining Corp. during the third quarter worth about $1,553,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Newmont Mining Corp. during the second quarter worth about $838,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.
Newmont Mining Corp. Company Profile
Newmont Mining Corporation is a global mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Indonesia, Ghana and Suriname. Its segments are North America, South America, Asia Pacific and Africa.
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