Newmont Mining Corp. (NEM) Earns “Buy” Rating from Citigroup Inc.
Newmont Mining Corp. (NYSE:NEM)‘s stock had its “buy” rating restated by analysts at Citigroup Inc. in a report released on Monday.
A number of other research firms have also weighed in on NEM. Morgan Stanley restated a “hold” rating and issued a $41.00 target price on shares of Newmont Mining Corp. in a report on Tuesday, August 16th. Barclays PLC raised their target price on Newmont Mining Corp. from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, August 8th. Zacks Investment Research lowered Newmont Mining Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Vetr lowered Newmont Mining Corp. from a “strong-buy” rating to a “buy” rating and set a $45.64 target price on the stock. in a report on Tuesday, September 6th. Finally, HSBC restated a “buy” rating on shares of Newmont Mining Corp. in a report on Thursday, July 7th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Newmont Mining Corp. currently has a consensus rating of “Buy” and an average target price of C$37.47.
Newmont Mining Corp. (NYSE:NEM) traded up 2.819% during mid-day trading on Monday, hitting $35.195. The stock had a trading volume of 1,447,209 shares. Newmont Mining Corp. has a 12 month low of $16.05 and a 12 month high of $46.07. The company has a market cap of $18.67 billion, a price-to-earnings ratio of 475.608 and a beta of 0.25. The firm’s 50-day moving average is $38.22 and its 200 day moving average is $36.87.
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Newmont Mining Corp. (NYSE:NEM) last posted its earnings results on Wednesday, July 20th. The company reported $0.44 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts anticipate that Newmont Mining Corp. will post $1.80 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Tuesday, September 13th. Newmont Mining Corp.’s dividend payout ratio is 166.69%.
In related news, EVP Scott P. Lawson sold 4,700 shares of Newmont Mining Corp. stock in a transaction on 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 completion of the sale, the executive vice president now owns 46,295 shares of the company’s stock, valued at C$1,868,003.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephen P. Gottesfeld sold 10,000 shares of Newmont Mining Corp. stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of C$41.59, for a total value of C$415,900.00. Following the sale, the executive vice president now directly owns 122,857 shares of the company’s stock, valued at approximately C$5,109,622.63. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.
A number of large investors have recently bought and sold shares of NEM. Smith Affiliated Capital Corp. raised its stake in shares of 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 period. Sullivan Bruyette Speros & Blaney Inc. purchased a new stake in shares of Newmont Mining Corp. during the second quarter valued at about $203,000. Pekin Singer Strauss Asset Management IL purchased a new stake in shares of Newmont Mining Corp. during the second quarter valued at about $217,000. Gyroscope Capital Management Group LLC purchased a new stake in shares of Newmont Mining Corp. during the second quarter valued at about $219,000. Finally, Boston Family Office LLC purchased a new stake in shares of Newmont Mining Corp. during the second quarter valued at about $227,000. 79.78% of the stock is owned by 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.
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