Newmont Mining Corp Target of Unusually High Options Trading (NEM)
Newmont Mining Corp (NYSE:NEM) was the recipient of unusually large options trading on Friday. Traders bought 2,924 put options on the stock. This represents an increase of 773% compared to the average daily volume of 335 put options.
Newmont Mining Corp (NYSE:NEM) traded up 2.12% during mid-day trading on Friday, reaching $34.14. 2,490,158 shares of the company were exchanged. Newmont Mining Corp has a 1-year low of $30.19 and a 1-year high of $46.07. The company’s market capitalization is $18.20 billion. The company has a 50 day moving average of $33.60 and a 200-day moving average of $34.07.
Newmont Mining Corp (NYSE:NEM) last posted its earnings results on Monday, April 24th. The basic materials company reported $0.25 earnings per share for the quarter, beating the 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 negative net margin of 6.99% and a positive return on equity of 4.94%. Newmont Mining Corp’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 EPS. On average, equities research analysts forecast that Newmont Mining Corp will post $1.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 22nd. Shareholders of record on Thursday, June 8th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $0.20 annualized dividend and a yield of 0.60%. Newmont Mining Corp’s payout ratio is -19.42%.
A number of brokerages have issued reports on NEM. Clarkson Capital lowered Newmont Mining Corp from a “neutral” rating to a “sell” rating in a research note on Tuesday, March 21st. Vetr lowered Newmont Mining Corp from a “sell” rating to a “strong sell” rating and set a $32.55 price target for the company. in a research note on Monday, February 6th. Zacks Investment Research upgraded Newmont Mining Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, February 1st. Jefferies Group LLC increased their price target on Newmont Mining Corp from $34.00 to $37.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $40.00 price target on shares of Newmont Mining Corp in a research note on Friday, April 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $42.46.
In other news, EVP E Randall Engel sold 12,720 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $34.22, for a total value of $435,278.40. Following the completion of the sale, the executive vice president now directly owns 289,870 shares in the company, valued at approximately $9,919,351.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $33.05, for a total value of $33,050.00. Following the completion of the sale, the insider now owns 334,730 shares of the company’s stock, valued at $11,062,826.50. The disclosure for this sale can be found here. Insiders sold a total of 18,576 shares of company stock valued at $636,940 over the last 90 days. 0.22% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of NEM. Lombard Odier Asset Management Europe Ltd purchased a new position in Newmont Mining Corp during the third quarter valued at $308,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Newmont Mining Corp by 343.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 411,750 shares of the basic materials company’s stock valued at $16,178,000 after buying an additional 318,900 shares in the last quarter. Boyer & Corporon Wealth Management LLC raised its position in shares of Newmont Mining Corp by 1.1% in the third quarter. Boyer & Corporon Wealth Management LLC now owns 104,674 shares of the basic materials company’s stock valued at $4,113,000 after buying an additional 1,148 shares in the last quarter. Xact Kapitalforvaltning AB bought a new position in shares of Newmont Mining Corp during the third quarter valued at approximately $1,359,000. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Newmont Mining Corp during the third quarter valued at approximately $255,000. Institutional investors own 82.02% of the company’s stock.
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About Newmont Mining Corp
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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