Newmont Mining Corp. (NYSE:NEM) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday. They presently have a $45.64 target price on the stock.

Several other equities analysts also recently weighed in on NEM. Jefferies Group downgraded Newmont Mining Corp. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $38.00 to $33.00 in a research report on Thursday, June 2nd. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Newmont Mining Corp. in a research report on Monday, June 27th. BMO Capital Markets reissued an “outperform” rating and set a $45.00 price target on shares of Newmont Mining Corp. in a research report on Tuesday, July 5th. Deutsche Bank AG reissued a “buy” rating and set a $44.00 price target (up previously from $38.00) on shares of Newmont Mining Corp. in a research report on Wednesday, July 6th. Finally, HSBC reissued a “buy” rating on shares of Newmont Mining Corp. in a research report on Thursday, July 7th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Newmont Mining Corp. has a consensus rating of “Buy” and an average target price of C$37.47.

Analyst Recommendations for Newmont Mining Corp. (NYSE:NEM)

Newmont Mining Corp. (NYSE:NEM) traded up 7.55% during trading on Wednesday, reaching $41.03. The company’s stock had a trading volume of 11,186,172 shares. Newmont Mining Corp. has a 52 week low of $15.56 and a 52 week high of $46.07. The company has a market capitalization of $21.77 billion, a PE ratio of 554.46 and a beta of 0.22. The company has a 50 day moving average price of $41.83 and a 200-day moving average price of $35.80.

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Newmont Mining Corp. (NYSE:NEM) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.14. Newmont Mining Corp. had a return on equity of 3.89% and a net margin of 0.51%. The firm earned $2 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $0.26 EPS. Newmont Mining Corp.’s quarterly revenue was up 6.8% on a year-over-year basis. Equities research analysts anticipate that Newmont Mining Corp. will post $1.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Tuesday, September 13th. Newmont Mining Corp.’s payout ratio is 166.69%.

In related news, EVP Scott P. Lawson sold 4,700 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of C$40.35, for a total value of C$189,645.00. Following the completion of the sale, the executive vice president now directly owns 46,295 shares of the company’s stock, valued at C$1,868,003.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William N. Macgowan sold 8,135 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of C$44.95, for a total value of C$365,668.25. Following the completion of the sale, the executive vice president now directly owns 98,779 shares of the company’s stock, valued at C$4,440,116.05. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

A number of hedge funds have recently made changes to their positions in NEM. Norges Bank purchased a new stake in shares of Newmont Mining Corp. during the fourth quarter valued at $43,180,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Newmont Mining Corp. by 13.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 121,220 shares of the company’s stock valued at $3,222,000 after buying an additional 14,087 shares in the last quarter. Exxonmobil Investment Management Inc. TX raised its stake in shares of Newmont Mining Corp. by 8.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 128,838 shares of the company’s stock valued at $3,425,000 after buying an additional 10,241 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Newmont Mining Corp. by 3,718.9% in the first quarter. Acadian Asset Management LLC now owns 199,919 shares of the company’s stock valued at $5,314,000 after buying an additional 194,684 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC raised its stake in shares of Newmont Mining Corp. by 72.6% in the first quarter. Quantitative Systematic Strategies LLC now owns 30,223 shares of the company’s stock valued at $808,000 after buying an additional 12,712 shares in the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

About Newmont Mining Corp.

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.

5 Day Chart for NYSE:NEM

To view Vetr’s full report, visit Vetr’s official website.

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