Newmont Mining Corporation (NEM) Downgraded by TheStreet
A number of other brokerages have also recently commented on NEM. Royal Bank Of Canada set a $41.00 target price on shares of Newmont Mining Corporation and gave the company a hold rating in a report on Monday, August 28th. B. Riley reaffirmed a neutral rating on shares of Newmont Mining Corporation in a report on Wednesday, November 1st. Zacks Investment Research raised shares of Newmont Mining Corporation from a hold rating to a buy rating and set a $41.00 target price for the company in a report on Monday, July 31st. Scotiabank upped their target price on shares of Newmont Mining Corporation from $43.50 to $55.00 and gave the company an outperform rating in a report on Wednesday, July 26th. Finally, TD Securities upped their target price on shares of Newmont Mining Corporation from $36.00 to $50.00 and gave the company a hold rating in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $40.83.
Newmont Mining Corporation (NYSE:NEM) traded up $0.14 on Friday, hitting $36.47. 746,892 shares of the stock traded hands, compared to its average volume of 5,440,500. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.18 and a quick ratio of 3.58. Newmont Mining Corporation has a 1 year low of $30.40 and a 1 year high of $39.63. The stock has a market capitalization of $19,340.00, a PE ratio of 26.05 and a beta of 0.11.
Newmont Mining Corporation (NYSE:NEM) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. Newmont Mining Corporation had a net margin of 1.18% and a return on equity of 6.20%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the company earned $0.38 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. equities analysts predict that Newmont Mining Corporation will post 1.44 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 8th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.30 annualized dividend and a yield of 0.82%. Newmont Mining Corporation’s dividend payout ratio (DPR) is currently 42.86%.
In other news, EVP E Randall Engel sold 5,700 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $36.44, for a total value of $207,708.00. Following the sale, the executive vice president now owns 122,178 shares of the company’s stock, valued at $4,452,166.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.60, for a total transaction of $38,600.00. Following the completion of the sale, the insider now directly owns 334,730 shares in the company, valued at approximately $12,920,578. The disclosure for this sale can be found here. Insiders have sold 27,700 shares of company stock valued at $1,042,103 in the last quarter. 0.32% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Deane Retirement Strategies Inc. purchased a new position in Newmont Mining Corporation in the 3rd quarter worth about $1,513,000. MUFG Securities EMEA plc purchased a new position in Newmont Mining Corporation in the 2nd quarter worth about $12,341,000. Saratoga Research & Investment Management purchased a new position in Newmont Mining Corporation in the 3rd quarter worth about $382,000. Shell Asset Management Co. increased its stake in Newmont Mining Corporation by 173.1% in the 3rd quarter. Shell Asset Management Co. now owns 793,199 shares of the basic materials company’s stock worth $18,283,000 after buying an additional 502,784 shares during the period. Finally, Boyer & Corporon Wealth Management LLC increased its stake in Newmont Mining Corporation by 9.4% in the 2nd quarter. Boyer & Corporon Wealth Management LLC now owns 116,703 shares of the basic materials company’s stock worth $3,780,000 after buying an additional 10,048 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.
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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