Newmont Mining Corp (NEM) Rating Lowered to Sell at Clarkson Capital

Newmont Mining Corp (NYSE:NEM) was downgraded by equities researchers at Clarkson Capital from a “neutral” rating to a “sell” rating in a research note issued on Tuesday.

NEM has been the topic of several other reports. Vetr downgraded Newmont Mining Corp from a “strong-buy” rating to a “buy” rating and set a $33.23 target price on the stock. in a research report on Monday, December 19th. Credit Suisse Group AG reiterated a “buy” rating and set a $51.00 target price on shares of Newmont Mining Corp in a research report on Tuesday, December 20th. Scotiabank downgraded Newmont Mining Corp from an “outperform” rating to a “sector perform” rating and set a $42.00 target price on the stock. in a research report on Tuesday, January 10th. Zacks Investment Research downgraded Newmont Mining Corp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 10th. Finally, Royal Bank of Canada downgraded Newmont Mining Corp from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $43.00 to $38.00 in a research report on Thursday, March 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Newmont Mining Corp presently has a consensus rating of “Buy” and a consensus target price of $39.40.

Analyst Recommendations for Newmont Mining Corp (NYSE:NEM)

Shares of Newmont Mining Corp (NYSE:NEM) traded up 1.82% during trading on Tuesday, hitting $34.09. The stock had a trading volume of 1,720,392 shares. The firm’s market cap is $18.11 billion. The stock has a 50-day moving average of $34.99 and a 200 day moving average of $35.29. Newmont Mining Corp has a 12-month low of $25.33 and a 12-month high of $46.07.

Newmont Mining Corp (NYSE:NEM) last released its earnings results on Tuesday, February 21st. The company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.06. Newmont Mining Corp had a positive return on equity of 4.94% and a negative net margin of 6.99%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company posted $0.04 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, analysts predict that Newmont Mining Corp will post $1.03 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th were paid a $0.05 dividend. The ex-dividend date was Tuesday, March 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.60%. Newmont Mining Corp’s dividend payout ratio (DPR) is currently -19.42%.

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In other news, EVP E Randall Engel sold 12,720 shares of the stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $34.22, for a total value of $435,278.40. Following the completion of the sale, the executive vice president now owns 289,870 shares in the company, valued at $9,919,351.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP William N. Macgowan sold 2,006 shares of the stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $36.31, for a total value of $72,837.86. Following the completion of the sale, the executive vice president now owns 91,462 shares of the company’s stock, valued at approximately $3,320,985.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,257 shares of company stock valued at $670,918. Insiders own 0.22% of the company’s stock.

Several large investors have recently bought and sold shares of NEM. Emerald Acquisition Ltd. raised its stake in Newmont Mining Corp by 29.2% in the third quarter. Emerald Acquisition Ltd. now owns 540,144 shares of the company’s stock worth $21,222,000 after buying an additional 122,063 shares during the period. Balasa Dinverno & Foltz LLC bought a new stake in Newmont Mining Corp during the third quarter worth about $207,000. United Services Automobile Association raised its stake in Newmont Mining Corp by 4.3% in the third quarter. United Services Automobile Association now owns 1,197,161 shares of the company’s stock worth $47,036,000 after buying an additional 49,147 shares during the period. Sei Investments Co. raised its stake in Newmont Mining Corp by 126.6% in the third quarter. Sei Investments Co. now owns 93,014 shares of the company’s stock worth $3,655,000 after buying an additional 51,959 shares during the period. Finally, AMP Capital Investors Ltd raised its stake in Newmont Mining Corp by 41.9% in the third quarter. AMP Capital Investors Ltd now owns 439,548 shares of the company’s stock worth $17,164,000 after buying an additional 129,898 shares during the period. Institutional investors and hedge funds own 82.02% of the company’s stock.

About Newmont Mining Corp

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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