Newmont Mining (NYSE:NEM) received a $46.00 price objective from stock analysts at Raymond James in a research report issued to clients and investors on Friday. The firm presently has an “outperform” rating on the basic materials company’s stock. Raymond James’ target price would suggest a potential upside of 38.39% from the company’s current price.
Other analysts have also recently issued reports about the stock. Deutsche Bank set a $36.00 price objective on shares of Newmont Mining and gave the stock a “hold” rating in a research note on Friday. BMO Capital Markets reaffirmed a “buy” rating and set a $46.00 target price on shares of Newmont Mining in a research report on Friday, September 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $33.00 target price on shares of Newmont Mining in a research report on Monday, October 8th. TheStreet lowered shares of Newmont Mining from a “b-” rating to a “c” rating in a research report on Thursday, October 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Newmont Mining from $47.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, September 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $41.27.
Shares of Newmont Mining stock traded up $0.58 on Friday, reaching $33.24. The stock had a trading volume of 390,911 shares, compared to its average volume of 4,534,766. The company has a current ratio of 4.70, a quick ratio of 4.02 and a debt-to-equity ratio of 0.36. Newmont Mining has a fifty-two week low of $29.06 and a fifty-two week high of $42.04. The stock has a market capitalization of $18.00 billion, a price-to-earnings ratio of 22.76 and a beta of 0.27.
Newmont Mining (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.11. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.80 billion. As a group, research analysts predict that Newmont Mining will post 1.23 earnings per share for the current year.
In other Newmont Mining news, CFO Nancy Buese sold 2,000 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $30.20, for a total value of $60,400.00. Following the sale, the chief financial officer now owns 86,577 shares of the company’s stock, valued at approximately $2,614,625.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $30.20, for a total transaction of $90,600.00. Following the completion of the sale, the executive vice president now directly owns 102,831 shares in the company, valued at approximately $3,105,496.20. The disclosure for this sale can be found here. Insiders sold a total of 30,750 shares of company stock worth $969,548 in the last three months. Insiders own 0.36% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Natixis acquired a new stake in shares of Newmont Mining in the 2nd quarter valued at $23,387,000. Janus Henderson Group PLC boosted its stake in shares of Newmont Mining by 6.8% in the 2nd quarter. Janus Henderson Group PLC now owns 3,598,606 shares of the basic materials company’s stock valued at $135,716,000 after purchasing an additional 228,782 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Newmont Mining by 15.0% in the 2nd quarter. California Public Employees Retirement System now owns 1,600,820 shares of the basic materials company’s stock valued at $60,367,000 after purchasing an additional 208,625 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Newmont Mining in the 2nd quarter valued at $1,273,000. Finally, AGF Investments Inc. boosted its stake in shares of Newmont Mining by 2.5% in the 2nd quarter. AGF Investments Inc. now owns 166,100 shares of the basic materials company’s stock valued at $6,264,000 after purchasing an additional 4,100 shares in the last quarter. 83.98% of the stock is currently owned by hedge funds and other institutional investors.
Newmont Mining Company Profile
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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