Shares of Newmont Mining Co. (NYSE:NEM) have earned an average recommendation of “Hold” from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $43.00.
NEM has been the subject of several recent research reports. BMO Capital Markets restated a “buy” rating and set a $43.00 price objective on shares of Newmont Mining in a report on Wednesday, December 20th. Scotiabank set a $48.00 price objective on Newmont Mining and gave the company a “buy” rating in a report on Monday, January 15th. Deutsche Bank downgraded Newmont Mining from a “buy” rating to a “hold” rating and decreased their price objective for the company from $42.00 to $40.00 in a report on Tuesday, January 16th. Zacks Investment Research downgraded Newmont Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, January 19th. Finally, Bank of America boosted their price objective on Newmont Mining from $46.00 to $49.00 and gave the company a “buy” rating in a report on Monday, February 26th.
In other Newmont Mining news, EVP Stephen P. Gottesfeld sold 5,000 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $37.91, for a total value of $189,550.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP E Randall Engel sold 5,700 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $40.23, for a total value of $229,311.00. Following the completion of the transaction, the executive vice president now directly owns 239,700 shares in the company, valued at approximately $9,643,131. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,450 shares of company stock worth $919,544. 0.36% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. Xact Kapitalforvaltning AB boosted its position in Newmont Mining by 58.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 68,919 shares of the basic materials company’s stock worth $2,586,000 after purchasing an additional 25,558 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Newmont Mining by 18.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 105,487 shares of the basic materials company’s stock worth $3,958,000 after purchasing an additional 16,256 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Newmont Mining by 5.2% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 219,927 shares of the basic materials company’s stock worth $8,252,000 after purchasing an additional 10,835 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its position in Newmont Mining by 1.6% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 92,755 shares of the basic materials company’s stock worth $3,482,000 after purchasing an additional 1,470 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in Newmont Mining by 52.2% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 487,300 shares of the basic materials company’s stock worth $18,283,000 after purchasing an additional 167,100 shares during the last quarter. 82.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE NEM traded up $0.02 during midday trading on Wednesday, hitting $39.29. 4,107,026 shares of the stock traded hands, compared to its average volume of 4,853,281. The company has a market cap of $20,949.55, a price-to-earnings ratio of 26.91 and a beta of 0.25. Newmont Mining has a one year low of $31.42 and a one year high of $42.04. The company has a quick ratio of 3.14, a current ratio of 3.63 and a debt-to-equity ratio of 0.35.
Newmont Mining (NYSE:NEM) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.92 billion. Newmont Mining had a positive return on equity of 6.52% and a negative net margin of 1.33%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 earnings per share. equities research analysts anticipate that Newmont Mining will post 1.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Thursday, March 8th were given a dividend of $0.14 per share. This is a boost from Newmont Mining’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, March 7th. This represents a $0.56 annualized dividend and a dividend yield of 1.43%. Newmont Mining’s payout ratio is presently 38.36%.
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About Newmont Mining
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.
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