Newmont Mining Corp. (NEM) Stock Rating Upgraded by Barclays PLC
Newmont Mining Corp. (NYSE:NEM) was upgraded by Barclays PLC from an “equal weight” rating to an “overweight” rating in a report issued on Monday. The firm presently has a $45.00 price target on the stock.
A number of other brokerages have also weighed in on NEM. Vetr upgraded Newmont Mining Corp. from a “hold” rating to a “buy” rating and set a $36.33 price objective on the stock in a research report on Tuesday, June 21st. Morgan Stanley began coverage on Newmont Mining Corp. in a research report on Tuesday, August 9th. They set an “equal weight” rating and a $41.00 price objective on the stock. HSBC restated a “buy” rating on shares of Newmont Mining Corp. in a research report on Thursday, July 7th. Zacks Investment Research lowered Newmont Mining Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. Finally, Argus restated a “hold” rating on shares of Newmont Mining Corp. in a research report on Wednesday, July 27th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of C$37.47.
Shares of Newmont Mining Corp. (NYSE:NEM) opened at 34.23 on Monday. Newmont Mining Corp. has a one year low of $16.05 and a one year high of $46.07. The company has a market capitalization of $18.16 billion, a P/E ratio of 462.57 and a beta of 0.25. The firm has a 50 day moving average price of $38.22 and a 200 day moving average price of $36.87.
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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, beating the Thomson Reuters’ 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 posted $0.26 EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities research analysts predict that Newmont Mining Corp. will post $1.80 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were issued 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 currently 166.69%.
In other Newmont Mining Corp. news, EVP Scott P. Lawson sold 4,700 shares of the business’s stock in a transaction that occurred 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 directly owns 46,295 shares of the company’s stock, valued at approximately C$1,868,003.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Macgowan sold 8,135 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of C$44.95, for a total value of C$365,668.25. Following 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. Company insiders own 0.22% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Smith Affiliated Capital Corp. raised its position 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 in the last quarter. Advisor Partners LLC acquired a new position in Newmont Mining Corp. during the first quarter valued at about $203,000. Sullivan Bruyette Speros & Blaney Inc. acquired a new position in Newmont Mining Corp. during the second quarter valued at about $203,000. Cypress Capital Management LLC acquired a new position in Newmont Mining Corp. during the first quarter valued at about $205,000. Finally, Quadrature Capital Ltd acquired a new position in Newmont Mining Corp. during the first quarter valued at about $213,000. 79.78% of the stock is owned by hedge funds and other institutional investors.
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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