Newmont Mining (NYSE:NEM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $43.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 16.72% from the stock’s current price.

According to Zacks, “Annual estimates for Newmont have been going up of late. Newmont’s shares have outperformed the industry it belongs to in the past six months. Newmont continues to invest in growth projects that are expected to boost its production performance. It also remains committed to de-lever its balance sheet. Moreover, the acquisition of CC&V represents a significant opportunity for the company. Improved operational efficiency is also allowing it to generate positive free cash flow.”

A number of other equities research analysts have also recently issued reports on NEM. BidaskClub cut shares of Newmont Mining from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. BMO Capital Markets set a $40.00 price target on shares of Newmont Mining and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Royal Bank Of Canada set a $41.00 price target on shares of Newmont Mining and gave the company a “hold” rating in a research note on Monday, August 28th. TheStreet raised shares of Newmont Mining from a “c+” rating to a “b” rating in a research note on Wednesday, October 11th. Finally, TD Securities set a $42.00 target price on shares of Newmont Mining and gave the stock a “hold” rating in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Newmont Mining presently has a consensus rating of “Buy” and an average price target of $40.83.

Newmont Mining (NEM) traded down $0.35 during trading on Tuesday, reaching $36.84. 3,777,300 shares of the company were exchanged, compared to its average volume of 5,410,184. Newmont Mining has a 1 year low of $30.40 and a 1 year high of $39.63. The firm has a market cap of $19,834.78, a PE ratio of 26.75 and a beta of 0.10. The company has a quick ratio of 3.58, a current ratio of 4.18 and a debt-to-equity ratio of 0.33.

Newmont Mining (NYSE:NEM) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Newmont Mining had a net margin of 1.18% and a return on equity of 6.20%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. sell-side analysts predict that Newmont Mining will post 1.44 EPS for the current fiscal year.

In other news, EVP Elaine J. Dorward-King sold 10,250 shares of Newmont Mining stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $38.27, for a total transaction of $392,267.50. Following the transaction, the executive vice president now owns 82,114 shares in the company, valued at approximately $3,142,502.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott P. Lawson sold 5,000 shares of Newmont Mining stock in a transaction on Monday, September 25th. The stock was sold at an average price of $37.85, for a total value of $189,250.00. Following the transaction, the executive vice president now owns 51,696 shares in the company, valued at approximately $1,956,693.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,700 shares of company stock worth $1,038,458. 0.32% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Suntrust Banks Inc. raised its holdings in shares of Newmont Mining by 0.5% during the 2nd quarter. Suntrust Banks Inc. now owns 65,794 shares of the basic materials company’s stock worth $2,130,000 after acquiring an additional 331 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Newmont Mining by 0.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 50,318 shares of the basic materials company’s stock worth $1,630,000 after acquiring an additional 353 shares during the period. Veritable L.P. raised its holdings in shares of Newmont Mining by 4.6% during the 2nd quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock worth $274,000 after acquiring an additional 370 shares during the period. Afam Capital Inc. raised its holdings in shares of Newmont Mining by 0.6% during the 2nd quarter. Afam Capital Inc. now owns 71,692 shares of the basic materials company’s stock worth $2,322,000 after acquiring an additional 419 shares during the period. Finally, Sentry Investment Management LLC raised its holdings in shares of Newmont Mining by 1.0% during the 2nd quarter. Sentry Investment Management LLC now owns 41,329 shares of the basic materials company’s stock worth $1,339,000 after acquiring an additional 428 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

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Newmont Mining 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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