Vetr downgraded shares of Newmont Mining Corp. (NYSE:NEM) from a strong-buy rating to a buy rating in a research note published on Wednesday morning. The firm currently has $45.64 price objective on the stock.
NEM has been the topic of a number of other reports. Barclays PLC raised their price target on Newmont Mining Corp. from $38.00 to $45.00 and gave the company an equal weight rating in a report on Monday, August 8th. Deutsche Bank AG reissued a buy rating and set a $44.00 price target (up from $38.00) on shares of Newmont Mining Corp. in a report on Wednesday, July 6th. BMO Capital Markets reissued an outperform rating and set a $45.00 price target on shares of Newmont Mining Corp. in a report on Tuesday, July 5th. FBR & Co raised their price target on Newmont Mining Corp. from $31.00 to $39.00 and gave the company a market perform rating in a report on Wednesday, July 20th. Finally, Morgan Stanley reissued a hold rating and set a $41.00 price target on shares of Newmont Mining Corp. in a report on Tuesday, August 16th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of C$37.47.
Newmont Mining Corp. (NYSE:NEM) opened at 39.56 on Wednesday. The stock has a market capitalization of $20.99 billion, a price-to-earnings ratio of 534.59 and a beta of 0.22. Newmont Mining Corp. has a one year low of $15.56 and a one year high of $46.07. The stock’s 50 day moving average is $41.56 and its 200 day moving average is $35.93.
Newmont Mining Corp. (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.14. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.94 billion. Newmont Mining Corp. had a return on equity of 3.89% and a net margin of 0.51%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. On average, equities analysts forecast that Newmont Mining Corp. will post $1.81 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.025 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.25%. Newmont Mining Corp.’s dividend payout ratio is 166.69%.
In other news, EVP E Randall Engel sold 8,700 shares of Newmont Mining Corp. stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of C$42.55, for a total transaction of C$370,185.00. Following the completion of the sale, the executive vice president now directly owns 219,389 shares in the company, valued at approximately C$9,335,001.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Scott P. Lawson sold 4,700 shares of Newmont Mining Corp. stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of C$40.35, for a total value of C$189,645.00. Following the sale, the executive vice president now owns 46,295 shares of the company’s stock, valued at C$1,868,003.25. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its stake in shares of Newmont Mining Corp. by 42.4% in the second quarter. Van ECK Associates Corp now owns 27,440,471 shares of the company’s stock valued at $1,073,471,000 after buying an additional 8,174,021 shares in the last quarter. BlackRock Group LTD raised its stake in Newmont Mining Corp. by 24.5% in the second quarter. BlackRock Group LTD now owns 26,495,175 shares of the company’s stock valued at $1,036,490,000 after buying an additional 5,210,011 shares during the period. Cohen & Steers Inc. raised its stake in Newmont Mining Corp. by 9,440.1% in the second quarter. Cohen & Steers Inc. now owns 4,279,959 shares of the company’s stock valued at $80,121,000 after buying an additional 4,235,096 shares during the period. Orbis Allan Gray Ltd bought a new stake in Newmont Mining Corp. during the first quarter valued at $86,842,000. Finally, Westpac Banking Corp raised its stake in Newmont Mining Corp. by 7,573.3% in the second quarter. Westpac Banking Corp now owns 2,740,426 shares of the company’s stock valued at $107,205,000 after buying an additional 2,704,712 shares during the period. Institutional investors and hedge funds own 79.71% of the company’s stock.
About Newmont Mining Corp.
Newmont Mining Corporation is a global 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, Indonesia, Ghana and Suriname. Its segments are North America, South America, Asia Pacific and Africa.
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