Newmont Mining Corp. (NEM) Rating Lowered to Buy at Vetr Inc.
Newmont Mining Corp. (NYSE:NEM) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. They currently have a $45.64 price target on the stock.
A number of other analysts also recently issued reports on NEM. Jefferies Group downgraded shares of Newmont Mining Corp. from a “buy” rating to a “hold” rating and dropped their target price 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 target price 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 target price (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 investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of C$37.47.
Shares of Newmont Mining Corp. (NYSE:NEM) traded up 7.55% during mid-day trading on Wednesday, hitting $41.03. 11,186,172 shares of the stock traded hands. The stock has a market cap of $21.77 billion, a PE ratio of 554.46 and a beta of 0.22. The stock has a 50-day moving average of $41.83 and a 200 day moving average of $35.80. Newmont Mining Corp. has a one year low of $15.56 and a one year high of $46.07.
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Newmont Mining Corp. (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.14. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.94 billion. Newmont Mining Corp. had a net margin of 0.51% and a return on equity of 3.89%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. Equities analysts predict that Newmont Mining Corp. will post $1.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Tuesday, September 13th. Newmont Mining Corp.’s payout ratio is 166.69%.
In other Newmont Mining Corp. news, EVP E Randall Engel sold 8,700 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was 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 directly owns 219,389 shares in the company, valued at C$9,335,001.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William N. Macgowan sold 8,135 shares of the firm’s stock in a transaction on 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 owns 98,779 shares in the company, valued at C$4,440,116.05. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Group LTD boosted its stake in Newmont Mining Corp. by 19.4% in the first quarter. BlackRock Group LTD now owns 21,285,164 shares of the company’s stock worth $565,760,000 after buying an additional 3,464,169 shares during the last quarter. Franklin Resources Inc. boosted its stake in Newmont Mining Corp. by 1.1% in the first quarter. Franklin Resources Inc. now owns 135,018 shares of the company’s stock worth $3,588,000 after buying an additional 1,529 shares during the last quarter. FDO Partners LLC bought a new stake in Newmont Mining Corp. during the first quarter worth about $1,141,000. Teachers Advisors Inc. boosted its stake in Newmont Mining Corp. by 18.8% in the first quarter. Teachers Advisors Inc. now owns 938,482 shares of the company’s stock worth $24,945,000 after buying an additional 148,448 shares during the last quarter. Finally, Exane Derivatives boosted its stake in Newmont Mining Corp. by 1.1% in the first quarter. Exane Derivatives now owns 12,558 shares of the company’s stock worth $334,000 after buying an additional 136 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.
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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