Newmont Mining Corp. (NYSE:NEM) rose 4.1% during mid-day trading on Wednesday . The stock traded as high as $39.75 and last traded at $39.70, with a volume of 3,920,099 shares traded. The stock had previously closed at $38.15.

NEM has been the topic of several recent analyst reports. Vetr raised shares of Newmont Mining Corp. from a “buy” rating to a “strong-buy” rating and set a $47.47 target price on the stock in a research note on Wednesday, August 24th. Barclays PLC increased their target price on shares of Newmont Mining Corp. from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, August 8th. FBR & Co increased their target price on shares of Newmont Mining Corp. from $31.00 to $39.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 20th. Deutsche Bank AG reissued a “buy” rating and set a $44.00 target price (up from $38.00) on shares of Newmont Mining Corp. in a research note on Wednesday, July 6th. Finally, Morgan Stanley reissued a “hold” rating and set a $41.00 target price on shares of Newmont Mining Corp. in a research note on Tuesday, August 16th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Newmont Mining Corp. presently has an average rating of “Buy” and a consensus target price of C$37.47.

The stock has a market capitalization of $21.71 billion, a price-to-earnings ratio of 552.97 and a beta of 0.22. The stock has a 50 day moving average price of $41.97 and a 200 day moving average price of $35.76.

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Newmont Mining Corp. (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.14. Newmont Mining Corp. had a net margin of 0.51% and a return on equity of 3.89%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business posted $0.26 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. Analysts forecast that Newmont Mining Corp. will post $1.81 earnings per share 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 given a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.10 annualized dividend and a yield of 0.26%. Newmont Mining Corp.’s payout ratio is currently 166.69%.

In other Newmont Mining Corp. news, EVP Stephen P. Gottesfeld sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of C$41.59, for a total transaction of C$415,900.00. Following the transaction, the executive vice president now directly owns 122,857 shares in the company, valued at C$5,109,622.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott P. Lawson sold 4,700 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of C$40.35, for a total transaction of C$189,645.00. Following the transaction, the executive vice president now owns 46,295 shares in the company, valued at C$1,868,003.25. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Group LTD raised its position in shares of Newmont Mining Corp. by 19.4% in the first quarter. BlackRock Group LTD now owns 21,285,164 shares of the company’s stock valued at $565,760,000 after buying an additional 3,464,169 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Newmont Mining Corp. by 1.1% in the first quarter. Franklin Resources Inc. now owns 135,018 shares of the company’s stock valued at $3,588,000 after buying an additional 1,529 shares during the last quarter. FDO Partners LLC bought a new position in shares of Newmont Mining Corp. during the first quarter valued at $1,141,000. Teachers Advisors Inc. raised its position in shares of Newmont Mining Corp. by 18.8% in the first quarter. Teachers Advisors Inc. now owns 938,482 shares of the company’s stock valued at $24,945,000 after buying an additional 148,448 shares during the last quarter. Finally, Exane Derivatives raised its position in shares of Newmont Mining Corp. by 1.1% in the first quarter. Exane Derivatives now owns 12,558 shares of the company’s stock valued at $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.

5 Day Chart for NYSE:NEM

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