Newmont Mining Corp (NEM) Given a $37.00 Price Target by Jefferies Group LLC Analysts
Newmont Mining Corp (NYSE:NEM) received a $37.00 price target from Jefferies Group LLC in a research report issued on Friday. The firm currently has a “hold” rating on the basic materials company’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 10.02% from the company’s current price.
A number of other equities research analysts have also commented on the company. BMO Capital Markets raised their price target on Newmont Mining Corp to $54.00 and gave the stock a “buy” rating in a research report on Thursday, May 11th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Newmont Mining Corp in a research report on Thursday, April 27th. Scotiabank reaffirmed a “sector perform” rating and set a $58.00 price target on shares of Newmont Mining Corp in a research report on Tuesday, April 25th. TD Securities reiterated a “hold” rating and set a $48.50 price objective on shares of Newmont Mining Corp in a report on Tuesday, April 25th. Finally, Clarkson Capital downgraded Newmont Mining Corp from a “neutral” rating to a “sell” rating in a report on Tuesday, March 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $42.46.
Newmont Mining Corp (NYSE:NEM) traded up 0.96% during trading on Friday, reaching $33.63. The company’s stock had a trading volume of 5,041,869 shares. Newmont Mining Corp has a 52 week low of $30.19 and a 52 week high of $46.07. The firm’s market cap is $17.93 billion. The stock’s 50 day moving average is $33.64 and its 200-day moving average is $34.19.
Newmont Mining Corp (NYSE:NEM) last released its quarterly earnings results on Monday, April 24th. The basic materials company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.73 billion. Newmont Mining Corp had a positive return on equity of 4.94% and a negative net margin of 6.99%. Newmont Mining Corp’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. On average, equities research analysts forecast that Newmont Mining Corp will post $1.12 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 22nd. Shareholders of record on Thursday, June 8th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. Newmont Mining Corp’s dividend payout ratio is -19.42%.
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In other Newmont Mining Corp news, EVP William N. Macgowan sold 2,006 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $36.31, for a total value of $72,837.86. Following the completion of the transaction, the executive vice president now directly owns 91,462 shares in the company, valued at $3,320,985.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $33.67, for a total value of $33,670.00. Following the completion of the transaction, the insider now owns 334,730 shares of the company’s stock, valued at $11,270,359.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,257 shares of company stock valued at $734,443. Corporate insiders own 0.22% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC bought a new position in Newmont Mining Corp during the first quarter worth $118,000. WFG Advisors LP increased its position in shares of Newmont Mining Corp by 83.5% in the first quarter. WFG Advisors LP now owns 3,748 shares of the basic materials company’s stock valued at $124,000 after buying an additional 1,706 shares in the last quarter. Acrospire Investment Management LLC increased its position in shares of Newmont Mining Corp by 88.5% in the first quarter. Acrospire Investment Management LLC now owns 4,900 shares of the basic materials company’s stock valued at $162,000 after buying an additional 2,300 shares in the last quarter. Tuttle Tactical Management LLC acquired a new position in shares of Newmont Mining Corp during the third quarter valued at approximately $172,000. Finally, Westport Asset Management Inc. acquired a new position in shares of Newmont Mining Corp during the fourth quarter valued at approximately $188,000. Hedge funds and other institutional investors own 82.02% of the company’s stock.
Newmont Mining Corp Company Profile
Newmont Mining Corporation is a 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, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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