Newmont Mining Corp. (NYSE:NEM) Given Average Recommendation of “Buy” by Brokerages
Shares of Newmont Mining Corp. (NYSE:NEM) have been assigned a consensus recommendation of “Buy” from the twenty research firms that are covering the stock. Eight research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$40.36.
A number of equities analysts have recently weighed in on NEM shares. Zacks Investment Research downgraded shares of Newmont Mining Corp. from a “strong-buy” rating to a “hold” rating in a research note on Monday. Vetr raised shares of Newmont Mining Corp. from a “buy” rating to a “strong-buy” rating and set a $47.47 price target on the stock in a research note on Wednesday, August 24th. Barclays PLC upped their price target 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. Deutsche Bank AG reaffirmed a “buy” rating and issued a $44.00 price target (up from $38.00) on shares of Newmont Mining Corp. in a research note on Wednesday, July 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Newmont Mining Corp. in a research note on Tuesday, July 5th.
Newmont Mining Corp. (NYSE:NEM) traded up 0.03% on Friday, hitting $34.06. The company had a trading volume of 6,052,281 shares. The stock has a market cap of $18.07 billion, a P/E ratio of 460.27 and a beta of 0.25. The firm’s 50 day moving average price is $39.64 and its 200 day moving average price is $36.60. Newmont Mining Corp. has a 12-month low of $16.05 and a 12-month high of $46.07.
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Newmont Mining Corp. (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 the consensus estimate of $1.94 billion. During the same period in the prior year, the business posted $0.26 earnings per share. Newmont Mining Corp.’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts predict that Newmont Mining Corp. will post $1.80 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Tuesday, September 13th. Newmont Mining Corp.’s dividend payout ratio is 166.69%.
In other Newmont Mining Corp. news, EVP Scott P. Lawson sold 4,700 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of C$40.35, for a total transaction of C$189,645.00. Following the completion of the transaction, the executive vice president now owns 46,295 shares in the company, valued at C$1,868,003.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William N. Macgowan sold 8,135 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of C$44.95, for a total transaction of C$365,668.25. Following the transaction, the executive vice president now owns 98,779 shares of the company’s stock, valued at approximately C$4,440,116.05. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Smith Affiliated Capital Corp. raised its stake in Newmont Mining Corp. by 194.1% in the second quarter. Smith Affiliated Capital Corp. now owns 5,000 shares of the company’s stock valued at $196,000 after buying an additional 3,300 shares during the last quarter. Advisor Partners LLC purchased a new stake in Newmont Mining Corp. during the first quarter valued at $203,000. Sullivan Bruyette Speros & Blaney Inc. purchased a new stake in Newmont Mining Corp. during the second quarter valued at $203,000. Cypress Capital Management LLC purchased a new stake in Newmont Mining Corp. during the first quarter valued at $205,000. Finally, Quadrature Capital Ltd purchased a new stake in Newmont Mining Corp. during the first quarter valued at $213,000. Hedge funds and other 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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