Brokerages Set Newmont Mining Corporation (NEM) Target Price at $41.10

Newmont Mining Corporation (NYSE:NEM) has been given a consensus recommendation of “Buy” by the twenty-one analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $41.10.

NEM has been the topic of several recent analyst reports. Jefferies Group LLC reiterated a “hold” rating and set a $35.00 price objective (down from $37.00) on shares of Newmont Mining Corporation in a report on Friday, July 14th. Deutsche Bank AG reiterated a “buy” rating and set a $42.00 price objective (down from $44.00) on shares of Newmont Mining Corporation in a report on Sunday, June 25th. Credit Suisse Group set a $45.00 price objective on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Royal Bank Of Canada set a $41.00 price objective on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a report on Monday, August 28th. Finally, BidaskClub lowered shares of Newmont Mining Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th.

Shares of Newmont Mining Corporation (NYSE NEM) traded up 0.52% during midday trading on Wednesday, hitting $38.59. 2,230,569 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $38.11 and its 200 day moving average price is $35.17. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $39.63. The firm’s market cap is $20.58 billion.

Newmont Mining Corporation (NYSE:NEM) last announced its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ 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 revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. Equities research analysts forecast that Newmont Mining Corporation will post $1.42 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th were given a $0.075 dividend. This is an increase from Newmont Mining Corporation’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $0.30 annualized dividend and a yield of 0.78%. Newmont Mining Corporation’s dividend payout ratio (DPR) is -33.33%.

In other Newmont Mining Corporation news, EVP William N. Macgowan sold 2,007 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $36.59, for a total value of $73,436.13. Following the completion of the sale, the executive vice president now owns 127,178 shares of the company’s stock, valued at $4,653,443.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $37.11, for a total transaction of $37,110.00. Following the completion of the sale, the insider now directly owns 334,730 shares of the company’s stock, valued at approximately $12,421,830.30. The disclosure for this sale can be found here. Insiders sold 29,707 shares of company stock valued at $1,120,866 in the last ninety days. 0.32% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Janus Henderson Group PLC grew its position in shares of Newmont Mining Corporation by 7,145.7% during the second quarter. Janus Henderson Group PLC now owns 5,273,545 shares of the basic materials company’s stock worth $170,812,000 after buying an additional 5,200,763 shares in the last quarter. Flossbach Von Storch AG grew its position in shares of Newmont Mining Corporation by 29.2% during the second quarter. Flossbach Von Storch AG now owns 7,873,186 shares of the basic materials company’s stock worth $255,012,000 after buying an additional 1,780,593 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Newmont Mining Corporation by 3.3% during the first quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock worth $1,744,405,000 after buying an additional 1,671,897 shares in the last quarter. FMR LLC grew its position in shares of Newmont Mining Corporation by 24.6% during the second quarter. FMR LLC now owns 4,964,974 shares of the basic materials company’s stock worth $160,816,000 after buying an additional 979,529 shares in the last quarter. Finally, Global Thematic Partners LLC grew its position in shares of Newmont Mining Corporation by 28.4% during the second quarter. Global Thematic Partners LLC now owns 4,071,299 shares of the basic materials company’s stock worth $131,868,000 after buying an additional 901,550 shares in the last quarter. 81.07% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright laws. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/14/brokerages-set-newmont-mining-corpor

NEM has been the topic of several recent analyst reports. Jefferies Group LLC reiterated a “hold” rating and set a $35.00 price objective (down from $37.00) on shares of Newmont Mining Corporation in a report on Friday, July 14th. Deutsche Bank AG reiterated a “buy” rating and set a $42.00 price objective (down from $44.00) on shares of Newmont Mining Corporation in a report on Sunday, June 25th. Credit Suisse Group set a $45.00 price objective on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Royal Bank Of Canada set a $41.00 price objective on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a report on Monday, August 28th. Finally, BidaskClub lowered shares of Newmont Mining Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th.

Shares of Newmont Mining Corporation (NYSE NEM) traded up 0.52% during midday trading on Wednesday, hitting $38.59. 2,230,569 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $38.11 and its 200 day moving average price is $35.17. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $39.63. The firm’s market cap is $20.58 billion.

Newmont Mining Corporation (NYSE:NEM) last announced its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ 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 revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. Equities research analysts forecast that Newmont Mining Corporation will post $1.42 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th were given a $0.075 dividend. This is an increase from Newmont Mining Corporation’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $0.30 annualized dividend and a yield of 0.78%. Newmont Mining Corporation’s dividend payout ratio (DPR) is -33.33%.

In other Newmont Mining Corporation news, EVP William N. Macgowan sold 2,007 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $36.59, for a total value of $73,436.13. Following the completion of the sale, the executive vice president now owns 127,178 shares of the company’s stock, valued at $4,653,443.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $37.11, for a total transaction of $37,110.00. Following the completion of the sale, the insider now directly owns 334,730 shares of the company’s stock, valued at approximately $12,421,830.30. The disclosure for this sale can be found here. Insiders sold 29,707 shares of company stock valued at $1,120,866 in the last ninety days. 0.32% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Janus Henderson Group PLC grew its position in shares of Newmont Mining Corporation by 7,145.7% during the second quarter. Janus Henderson Group PLC now owns 5,273,545 shares of the basic materials company’s stock worth $170,812,000 after buying an additional 5,200,763 shares in the last quarter. Flossbach Von Storch AG grew its position in shares of Newmont Mining Corporation by 29.2% during the second quarter. Flossbach Von Storch AG now owns 7,873,186 shares of the basic materials company’s stock worth $255,012,000 after buying an additional 1,780,593 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Newmont Mining Corporation by 3.3% during the first quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock worth $1,744,405,000 after buying an additional 1,671,897 shares in the last quarter. FMR LLC grew its position in shares of Newmont Mining Corporation by 24.6% during the second quarter. FMR LLC now owns 4,964,974 shares of the basic materials company’s stock worth $160,816,000 after buying an additional 979,529 shares in the last quarter. Finally, Global Thematic Partners LLC grew its position in shares of Newmont Mining Corporation by 28.4% during the second quarter. Global Thematic Partners LLC now owns 4,071,299 shares of the basic materials company’s stock worth $131,868,000 after buying an additional 901,550 shares in the last quarter. 81.07% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright laws. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/14/brokerages-set-newmont-mining-corporation-nem-target-price-at-41-10.html.

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.

Analyst Recommendations for Newmont Mining Corporation (NYSE:NEM)

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