Investment Analysts’ Recent Ratings Changes for Newmont Mining (NEM)

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Several brokerages have updated their recommendations and price targets on shares of Newmont Mining (NYSE: NEM) in the last few weeks:

  • 3/19/2019 – Newmont Mining was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Newmont's fourth-quarter 2018 loss narrowed on a year-over-year basis. Adjusted earnings and sales beat their respective Zacks Consensus Estimate. Newmont faces headwinds from high production costs on year over year comparison basis. The company is also exposed to a highly volatile gold price environment. Lack of growth in the company’s gold reserves is another concern.  It has also underperformed the industry it belongs to over the past one year.”
  • 3/19/2019 – Newmont Mining had its “neutral” rating reaffirmed by analysts at B. Riley. They now have a $38.40 price target on the stock.
  • 3/12/2019 – Newmont Mining was given a new $47.00 price target on by analysts at Raymond James. They now have an “outperform” rating on the stock.
  • 3/5/2019 – Newmont Mining had its price target lowered by analysts at Raymond James from $48.00 to $47.00. They now have an “outperform” rating on the stock.
  • 3/1/2019 – Newmont Mining was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Newmont's fourth-quarter 2018 loss narrowed on a year-over-year basis. Also, adjusted earnings and sales beat their respective Zacks Consensus Estimate. The company is making significant progress with its growth projects. It is pursuing a number of projects including Tanami Expansion in Australia as well as Subika Underground and Ahafo mill expansion in Africa. We are also impressed with its efforts to reduce debt and improve efficiency. Moreover, the acquisition of CC&V represents a significant opportunity. Newmont should also gain from the merger with Goldcorp, which is expected to close in the second quarter of 2019. However, Newmont faces headwinds from high production costs on year over year comparison basis. The company is also exposed to a highly volatile gold price environment. Lack of growth in the company’s gold reserves is another concern.”
  • 2/22/2019 – Newmont Mining had its “outperform” rating reaffirmed by analysts at Raymond James. They now have a $48.00 price target on the stock.
  • 2/22/2019 – Newmont Mining had its “hold” rating reaffirmed by analysts at Jefferies Financial Group Inc. They now have a $33.00 price target on the stock.
  • 2/21/2019 – Newmont Mining was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating.
  • 2/12/2019 – Newmont Mining was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $38.00 price target on the stock. According to Zacks, “Newmont is making a notable progress with its growth projects. It is pursuing a number of projects including Tanami Expansion in Australia, and Subika Underground and Ahafo mill expansion in Africa. We are also impressed with its efforts to reduce debt and improve efficiency. Moreover, the acquisition of CC&V represents a significant opportunity. “
  • 2/4/2019 – Newmont Mining was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.

Shares of NYSE:NEM opened at $34.90 on Tuesday. The company has a current ratio of 2.95, a quick ratio of 2.60 and a debt-to-equity ratio of 0.31. The stock has a market cap of $18.38 billion, a P/E ratio of 25.85 and a beta of 0.01. Newmont Mining Corp has a 1 year low of $29.06 and a 1 year high of $41.98.

Newmont Mining (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 21st. The basic materials company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.88 billion. Newmont Mining had a return on equity of 6.19% and a net margin of 4.70%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 earnings per share. Research analysts expect that Newmont Mining Corp will post 1.2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Wednesday, March 6th. Newmont Mining’s dividend payout ratio is presently 41.48%.

In other news, EVP E Randall Engel sold 17,100 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $37.14, for a total value of $635,094.00. Following the transaction, the executive vice president now directly owns 236,847 shares of the company’s stock, valued at $8,796,497.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary J. Goldberg sold 4,000 shares of the stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $34.43, for a total value of $137,720.00. Following the completion of the transaction, the chief executive officer now directly owns 137,797 shares in the company, valued at $4,744,350.71. The disclosure for this sale can be found here. Insiders sold 44,350 shares of company stock worth $1,576,609 over the last three months. Corporate insiders own 0.36% of the company’s stock.

Several hedge funds have recently made changes to their positions in NEM. Archford Capital Strategies LLC boosted its stake in shares of Newmont Mining by 66.7% in the fourth quarter. Archford Capital Strategies LLC now owns 750 shares of the basic materials company’s stock worth $26,000 after buying an additional 300 shares during the last quarter. First Mercantile Trust Co. boosted its stake in shares of Newmont Mining by 70.2% in the fourth quarter. First Mercantile Trust Co. now owns 800 shares of the basic materials company’s stock worth $28,000 after buying an additional 330 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Newmont Mining by 377.3% in the fourth quarter. Bessemer Group Inc. now owns 840 shares of the basic materials company’s stock worth $29,000 after buying an additional 664 shares during the last quarter. Berman Capital Advisors LLC purchased a new stake in shares of Newmont Mining in the fourth quarter worth about $30,000. Finally, We Are One Seven LLC purchased a new stake in shares of Newmont Mining in the fourth quarter worth about $33,000. 86.88% of the stock is currently owned by institutional investors and hedge funds.

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.

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