FBR & Co Lowers Newmont Mining Corp. (NEM) Price Target to $39.00
Newmont Mining Corp. (NYSE:NEM) had its price target decreased by analysts at FBR & Co from $40.00 to $39.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “market perform” rating on the stock.
Other equities research analysts have also recently issued reports about the company. Jefferies Group set a $42.00 price target on Newmont Mining Corp. and gave the stock a “hold” rating in a research note on Thursday, July 21st. Citigroup Inc. reaffirmed a “buy” rating on shares of Newmont Mining Corp. in a research note on Thursday, August 18th. Mackie raised Newmont Mining Corp. from a “hold” rating to a “buy” rating in a research note on Monday, October 31st. Vetr cut Newmont Mining Corp. from a “strong-buy” rating to a “buy” rating and set a $45.64 price target on the stock. in a research note on Wednesday, September 21st. Finally, Zacks Investment Research raised Newmont Mining Corp. from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Tuesday, July 26th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$38.65.
Shares of Newmont Mining Corp. (NYSE:NEM) opened at 31.59 on Thursday. Newmont Mining Corp. has a 1-year low of $16.05 and a 1-year high of $46.07. The company’s market capitalization is $16.77 billion. The stock’s 50 day moving average price is $36.26 and its 200-day moving average price is $37.89.
Newmont Mining Corp. (NYSE:NEM) last announced its earnings results on Wednesday, October 26th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.12. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. Newmont Mining Corp. had a negative net margin of 6.99% and a positive return on equity of 4.94%. Newmont Mining Corp.’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS. On average, equities analysts predict that Newmont Mining Corp. will post $1.71 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.63%. The ex-dividend date is Tuesday, December 6th. This is a boost from Newmont Mining Corp.’s previous quarterly dividend of $0.03. Newmont Mining Corp.’s dividend payout ratio (DPR) is currently -9.71%.
In other Newmont Mining Corp. news, EVP William N. Macgowan sold 2,006 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of C$37.53, for a total transaction of C$75,285.18. Following the completion of the transaction, the executive vice president now owns 96,773 shares in the company, valued at approximately C$3,631,890.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott P. Lawson sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of C$35.99, for a total value of C$53,985.00. Following the transaction, the executive vice president now owns 44,795 shares of the company’s stock, valued at approximately C$1,612,172.05. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NEM. New York Life Trust Co. boosted its position in shares of Newmont Mining Corp. by 9.0% in the third quarter. New York Life Trust Co. now owns 2,707 shares of the company’s stock worth $106,000 after buying an additional 224 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Newmont Mining Corp. during the third quarter worth approximately $153,000. Smith Affiliated Capital Corp. boosted its position in shares of Newmont Mining Corp. by 194.1% in the second quarter. Smith Affiliated Capital Corp. now owns 5,000 shares of the company’s stock worth $196,000 after buying an additional 3,300 shares during the period. Sullivan Bruyette Speros & Blaney Inc. bought a new position in shares of Newmont Mining Corp. during the second quarter worth approximately $203,000. Finally, Balasa Dinverno & Foltz LLC bought a new position in shares of Newmont Mining Corp. during the third quarter worth approximately $207,000. Institutional investors and hedge funds own 80.62% of the company’s stock.
Newmont Mining Corp. Company Profile
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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