Newmont Mining Corp (NEM) Given Consensus Rating of “Hold” by Brokerages

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Newmont Mining Corp (NYSE:NEM) has been assigned an average rating of “Hold” from the eighteen brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $41.07.

A number of equities analysts have weighed in on the stock. BMO Capital Markets reissued a “buy” rating and issued a $46.00 price objective on shares of Newmont Mining in a research report on Friday, September 21st. Jefferies Financial Group reissued a “hold” rating and issued a $33.00 price objective on shares of Newmont Mining in a research report on Monday, October 8th. TheStreet cut shares of Newmont Mining from a “b-” rating to a “c” rating in a research report on Thursday, October 4th. Deutsche Bank set a $37.00 price objective on shares of Newmont Mining and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Newmont Mining from $47.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, September 17th.

In related news, insider Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $31.51, for a total transaction of $39,387.50. Following the sale, the insider now owns 130,360 shares in the company, valued at $4,107,643.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen P. Gottesfeld sold 3,500 shares of the stock in a transaction dated Wednesday, December 26th. The stock was sold at an average price of $35.01, for a total transaction of $122,535.00. Following the sale, the executive vice president now owns 174,764 shares in the company, valued at approximately $6,118,487.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,250 shares of company stock worth $1,134,640. Company insiders own 0.36% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEM. BlackRock Inc. grew its position in Newmont Mining by 1.8% in the 3rd quarter. BlackRock Inc. now owns 72,485,781 shares of the basic materials company’s stock worth $2,189,072,000 after purchasing an additional 1,288,890 shares during the last quarter. Vanguard Group Inc grew its position in Newmont Mining by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 57,312,640 shares of the basic materials company’s stock worth $1,730,842,000 after purchasing an additional 620,141 shares during the last quarter. Flossbach Von Storch AG grew its position in Newmont Mining by 32.8% in the 3rd quarter. Flossbach Von Storch AG now owns 13,529,462 shares of the basic materials company’s stock worth $408,590,000 after purchasing an additional 3,339,775 shares during the last quarter. First Eagle Investment Management LLC grew its position in Newmont Mining by 22.5% in the 3rd quarter. First Eagle Investment Management LLC now owns 11,705,007 shares of the basic materials company’s stock worth $353,491,000 after purchasing an additional 2,153,531 shares during the last quarter. Finally, FMR LLC grew its position in Newmont Mining by 31.9% in the 3rd quarter. FMR LLC now owns 9,763,576 shares of the basic materials company’s stock worth $294,860,000 after purchasing an additional 2,359,109 shares during the last quarter. Hedge funds and other institutional investors own 83.78% of the company’s stock.

Newmont Mining stock traded up $0.06 during trading on Friday, reaching $34.88. 3,821,500 shares of the company’s stock were exchanged, compared to its average volume of 5,487,050. The company has a current ratio of 4.70, a quick ratio of 4.02 and a debt-to-equity ratio of 0.36. Newmont Mining has a 52-week low of $29.06 and a 52-week high of $42.04. The stock has a market cap of $18.31 billion, a price-to-earnings ratio of 23.89 and a beta of 0.14.

Newmont Mining (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. Analysts forecast that Newmont Mining will post 1.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 27th. Stockholders of record on Thursday, December 6th were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.61%. Newmont Mining’s dividend payout ratio (DPR) is presently 38.36%.

About Newmont Mining

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.

See Also: Initial Public Offering (IPO)

Analyst Recommendations for Newmont Mining (NYSE:NEM)

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