Newmont Mining Corp. (NYSE:NEM) was upgraded by analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a report issued on Tuesday.

Several other research analysts also recently issued reports on the stock. FBR & Co reduced their price target on shares of Newmont Mining Corp. from $40.00 to $39.00 and set a “market perform” rating on the stock in a research report on Thursday, November 10th. Zacks Investment Research downgraded shares of Newmont Mining Corp. from a “buy” rating to a “hold” rating in a research report on Friday, November 4th. JPMorgan Chase & Co. upgraded shares of Newmont Mining Corp. from a “neutral” rating to an “overweight” rating and set a $43.00 price target on the stock in a research report on Thursday, November 3rd. Mackie upgraded shares of Newmont Mining Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 31st. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Newmont Mining Corp. in a research report on Monday, October 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Newmont Mining Corp. has a consensus rating of “Buy” and an average target price of $38.65.

Analyst Recommendations for Newmont Mining Corp. (NYSE:NEM)

Shares of Newmont Mining Corp. (NYSE:NEM) traded down 1.15% during trading on Tuesday, hitting $32.69. 740,985 shares of the stock traded hands. The company has a 50 day moving average of $35.25 and a 200-day moving average of $37.96. The company’s market cap is $17.35 billion. Newmont Mining Corp. has a 1-year low of $16.05 and a 1-year high of $46.07.

Newmont Mining Corp. (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.12. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Newmont Mining Corp. had a positive return on equity of 4.94% and a negative net margin of 6.99%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. On average, equities analysts anticipate that Newmont Mining Corp. will post $1.73 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. This is a boost from Newmont Mining Corp.’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 6th. Newmont Mining Corp.’s dividend payout ratio is presently -9.71%.

In related news, EVP Scott P. Lawson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $35.99, for a total transaction of $53,985.00. Following the completion of the sale, the executive vice president now directly owns 44,795 shares of the company’s stock, valued at approximately $1,612,172.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William N. Macgowan sold 2,006 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $37.53, for a total value of $75,285.18. Following the sale, the executive vice president now directly owns 96,773 shares of the company’s stock, valued at $3,631,890.69. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the company. New York Life Trust Co. boosted its stake in 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 last quarter. Catalyst Capital Advisors LLC acquired a new stake in Newmont Mining Corp. during the third quarter worth about $153,000. Tuttle Tactical Management LLC acquired a new stake in Newmont Mining Corp. during the third quarter worth about $172,000. Smith Affiliated Capital Corp. boosted its stake in 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 last quarter. Finally, Sullivan Bruyette Speros & Blaney Inc. acquired a new stake in Newmont Mining Corp. during the second quarter worth about $203,000. 79.81% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:NEM

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