Newmont Mining Corporation (NYSE:NEM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

According to Zacks, “Annual estimates for Newmont are going down of late. Newmont is exposed to a volatile gold price environment. Higher projected unit costs for 2017 and the company's falling gold reserve base are other concerns. Oversupply in the market also poses a threat on copper prices.”

A number of other equities analysts have also recently commented on NEM. Deutsche Bank AG reaffirmed a “buy” rating and issued a $42.00 price target (down from $44.00) on shares of Newmont Mining Corporation in a research note on Sunday, June 25th. BidaskClub cut Newmont Mining Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Royal Bank of Canada set a $40.00 price target on Newmont Mining Corporation and gave the stock a “hold” rating in a research note on Monday, June 12th. Jefferies Group LLC set a $37.00 price target on Newmont Mining Corporation and gave the stock a “hold” rating in a research note on Friday, May 19th. Finally, Raymond James Financial, Inc. began coverage on Newmont Mining Corporation in a research note on Thursday, June 15th. They issued an “outperform” rating and a $43.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.28.

Newmont Mining Corporation (NEM) traded up 1.358% during midday trading on Monday, reaching $32.465. 2,050,300 shares of the company traded hands. The firm’s market capitalization is $17.31 billion. The firm has a 50-day moving average price of $33.74 and a 200-day moving average price of $34.13. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $46.07.

Newmont Mining Corporation (NYSE:NEM) last announced 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 business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Newmont Mining Corporation had a positive return on equity of 6.24% and a negative net margin of 8.70%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. Equities analysts predict that Newmont Mining Corporation will post $1.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 22nd. Investors of record on Thursday, June 8th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. Newmont Mining Corporation’s dividend payout ratio is presently -16.81%.

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In other Newmont Mining Corporation news, COO Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $39,750.00. Following the sale, the chief operating officer now directly owns 91,862 shares of the company’s stock, valued at $2,921,211.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $33.67, for a total value of $33,670.00. Following the completion of the sale, the insider now directly owns 334,730 shares in the company, valued at $11,270,359.10. The disclosure for this sale can be found here. Insiders have sold 15,450 shares of company stock worth $519,220 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in Newmont Mining Corporation by 34.2% in the first quarter. Bank of Montreal Can now owns 1,985,044 shares of the basic materials company’s stock valued at $65,427,000 after buying an additional 506,249 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Newmont Mining Corporation by 114.0% in the first quarter. Nisa Investment Advisors LLC now owns 181,687 shares of the basic materials company’s stock worth $5,988,000 after buying an additional 96,768 shares during the last quarter. Sprott Inc. increased its position in shares of Newmont Mining Corporation by 32.9% in the first quarter. Sprott Inc. now owns 533,078 shares of the basic materials company’s stock worth $17,570,000 after buying an additional 131,897 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Newmont Mining Corporation by 23.8% in the first quarter. Envestnet Asset Management Inc. now owns 67,558 shares of the basic materials company’s stock worth $2,228,000 after buying an additional 12,979 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Newmont Mining Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock worth $1,744,405,000 after buying an additional 1,671,897 shares during the last quarter. 81.56% of the stock is currently owned by institutional investors and hedge funds.

About Newmont Mining Corporation

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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