Newmont Mining Corporation (NYSE:NEM) Cut to “Sell” at BidaskClub

Newmont Mining Corporation (NYSE:NEM) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other equities research analysts have also commented on NEM. Zacks Investment Research lowered shares of Newmont Mining Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Scotiabank lifted their price objective on shares of Newmont Mining Corporation from $43.50 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $35.00 price objective (down previously from $37.00) on shares of Newmont Mining Corporation in a research report on Friday, July 14th. Argus raised shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Newmont Mining Corporation in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $41.73.

Newmont Mining Corporation (NYSE NEM) traded up 0.69% on Thursday, hitting $36.35. 921,235 shares of the stock were exchanged. The company has a 50-day moving average of $34.31 and a 200 day moving average of $34.30. The firm’s market cap is $19.38 billion. Newmont Mining Corporation has a 12 month low of $30.19 and a 12 month high of $46.07.

Newmont Mining Corporation (NYSE:NEM) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.26 by $0.20. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the business posted $0.44 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts expect that Newmont Mining Corporation will post $1.34 earnings per share for the current fiscal year.

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In other Newmont Mining Corporation news, EVP William N. Macgowan sold 2,007 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $36.59, for a total transaction of $73,436.13. Following the completion of the transaction, the executive vice president now owns 127,178 shares of the company’s stock, valued at $4,653,443.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $31.80, for a total transaction of $31,800.00. Following the transaction, the insider now directly owns 334,730 shares of the company’s stock, valued at approximately $10,644,414. The disclosure for this sale can be found here. Insiders sold 22,907 shares of company stock valued at $803,461 in the last three months. 0.32% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cleararc Capital Inc. raised its position in shares of Newmont Mining Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 12,988 shares of the basic materials company’s stock valued at $428,000 after buying an additional 73 shares during the period. Advisor Partners LLC raised its position in shares of Newmont Mining Corporation by 0.7% in the first quarter. Advisor Partners LLC now owns 11,349 shares of the basic materials company’s stock valued at $374,000 after buying an additional 84 shares during the period. Parkwood LLC raised its position in shares of Newmont Mining Corporation by 0.9% in the first quarter. Parkwood LLC now owns 19,149 shares of the basic materials company’s stock valued at $631,000 after buying an additional 170 shares during the period. Advantus Capital Management Inc raised its position in shares of Newmont Mining Corporation by 0.4% in the first quarter. Advantus Capital Management Inc now owns 53,529 shares of the basic materials company’s stock valued at $1,764,000 after buying an additional 224 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Newmont Mining Corporation by 0.4% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 66,675 shares of the basic materials company’s stock valued at $2,198,000 after buying an additional 233 shares during the period. 81.85% of the stock is owned by institutional investors.

Newmont Mining Corporation Company Profile

Newmont Mining Corporation is a 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, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.

Analyst Recommendations for Newmont Mining Corporation (NYSE:NEM)

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