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

Several other brokerages have also recently weighed in on NEM. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Newmont Mining Corp. in a research note on Monday, September 19th. FBR & Co decreased their price objective on shares of Newmont Mining Corp. from $40.00 to $39.00 and set a “market perform” rating on the stock in a research note on Thursday, November 10th. Vetr raised shares of Newmont Mining Corp. from a “buy” rating to a “strong-buy” rating and set a $45.64 price objective on the stock in a research note on Monday, September 12th. Barclays PLC upgraded shares of Newmont Mining Corp. from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research report on Monday, October 17th. Finally, Morgan Stanley initiated coverage on shares of Newmont Mining Corp. in a research report on Tuesday, August 9th. They set an “equal weight” rating and a $41.00 target price on the stock. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $38.65.

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

Newmont Mining Corp. (NYSE:NEM) opened at 31.92 on Monday. Newmont Mining Corp. has a 52-week low of $16.05 and a 52-week high of $46.07. The firm’s market cap is $16.94 billion. The firm has a 50-day moving average of $34.99 and a 200 day moving average of $37.91.

Newmont Mining Corp. (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.12. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. Newmont Mining Corp. had a positive return on equity of 4.94% and a negative net margin of 6.99%. Newmont Mining Corp.’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 earnings per share. On average, equities research analysts forecast that Newmont Mining Corp. will post $1.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 8th will be given a dividend of $0.05 per share. This is an increase from Newmont Mining Corp.’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. Newmont Mining Corp.’s dividend payout ratio is currently -9.71%.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York Life Trust Co. increased its position 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 period. Catalyst Capital Advisors LLC purchased a new stake in shares of Newmont Mining Corp. during the third quarter worth approximately $153,000. Tuttle Tactical Management LLC purchased a new stake in shares of Newmont Mining Corp. during the third quarter worth approximately $172,000. Smith Affiliated Capital Corp. boosted its stake 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 in the last quarter. Finally, Sullivan Bruyette Speros & Blaney Inc. purchased a new stake in shares of Newmont Mining Corp. during the second quarter worth approximately $203,000. 79.70% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:NEM

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