Zacks Investment Research downgraded shares of Newmont Mining Corporation (NYSE:NEM) from a hold rating to a sell rating in a report published on Monday, July 10th.

According to Zacks, “Annual estimates for Newmont are going down of late. Newmont is exposed to a volatile gold price environment. Higher projected unit costs for 2017 and the company's falling gold reserve base are other concerns. Oversupply in the market also poses a threat on copper prices.”

A number of other equities analysts also recently issued reports on the stock. Clarkson Capital downgraded shares of Newmont Mining Corporation from a neutral rating to a sell rating in a research note on Tuesday, March 21st. Scotiabank upgraded shares of Newmont Mining Corporation from a sector perform rating to an outperform rating and increased their price objective for the company from $43.00 to $43.50 in a research note on Wednesday, July 5th. BMO Capital Markets reiterated a buy rating and set a $40.00 price objective on shares of Newmont Mining Corporation in a research note on Friday, April 21st. Jefferies Group LLC raised their target price on shares of Newmont Mining Corporation from $34.00 to $37.00 and gave the company a hold rating in a research note on Wednesday, April 19th. Finally, Deutsche Bank AG restated a buy rating and issued a $42.00 target price (down from $44.00) on shares of Newmont Mining Corporation in a research note on Sunday, June 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Newmont Mining Corporation presently has a consensus rating of Buy and a consensus target price of $41.73.

Newmont Mining Corporation (NEM) traded down 1.19% during trading on Monday, hitting $35.74. The stock had a trading volume of 4,744,045 shares. Newmont Mining Corporation has a 52 week low of $30.19 and a 52 week high of $46.07. The stock’s market capitalization is $19.06 billion. The company has a 50-day moving average of $34.04 and a 200-day moving average of $34.28.

Newmont Mining Corporation (NYSE:NEM) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.20. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. On average, equities analysts expect that Newmont Mining Corporation will post $1.33 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be given a dividend of $0.075 per share. The ex-dividend date is Wednesday, September 13th. This is a positive change from Newmont Mining Corporation’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a yield of 0.84%. Newmont Mining Corporation’s payout ratio is presently -22.22%.

In other Newmont Mining Corporation news, insider Gary J. Goldberg sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $37.11, for a total value of $37,110.00. Following the transaction, the insider now directly owns 334,730 shares in the company, valued at approximately $12,421,830.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott P. Lawson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $32.79, for a total transaction of $163,950.00. Following the completion of the transaction, the executive vice president now owns 56,696 shares in the company, valued at $1,859,061.84. The disclosure for this sale can be found here. Insiders have sold 22,907 shares of company stock worth $803,461 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in Newmont Mining Corporation by 55.8% in the first quarter. Bank of New York Mellon Corp now owns 9,135,286 shares of the basic materials company’s stock valued at $301,099,000 after buying an additional 3,273,420 shares during the last quarter. Flossbach Von Storch AG raised its position in Newmont Mining Corporation by 81.7% in the first quarter. Flossbach Von Storch AG now owns 6,092,593 shares of the basic materials company’s stock valued at $200,812,000 after buying an additional 2,739,440 shares during the last quarter. Norges Bank purchased a new position in Newmont Mining Corporation during the fourth quarter valued at $65,028,000. Vanguard Group Inc. raised its position in Newmont Mining Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock valued at $1,744,405,000 after buying an additional 1,671,897 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Newmont Mining Corporation by 4.8% in the first quarter. Van ECK Associates Corp now owns 36,170,799 shares of the basic materials company’s stock valued at $1,192,190,000 after buying an additional 1,656,051 shares during the last quarter. Institutional investors own 81.85% of the company’s stock.

About Newmont Mining Corporation

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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Analyst Recommendations for Newmont Mining Corporation (NYSE:NEM)

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