BMO Capital Markets set a $45.00 price target on Newmont Mining Corporation (NYSE:NEM) in a research note published on Tuesday. The firm currently has a buy rating on the basic materials company’s stock.
Several other brokerages also recently issued reports on NEM. TheStreet upgraded shares of Newmont Mining Corporation from a c+ rating to a b rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded shares of Newmont Mining Corporation from a hold rating to a buy rating and set a $43.00 target price for the company in a research note on Wednesday, October 18th. 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 research note on Monday, August 28th. TD Securities set a $42.00 price objective on shares of Newmont Mining Corporation and gave the stock a hold rating in a research report on Thursday, October 19th. Finally, Argus upgraded shares of Newmont Mining Corporation from a hold rating to a buy rating and set a $43.00 price objective for the company in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Newmont Mining Corporation currently has a consensus rating of Hold and a consensus price target of $40.83.
Shares of Newmont Mining Corporation (NYSE:NEM) traded up $0.12 during midday trading on Tuesday, hitting $36.21. The stock had a trading volume of 3,139,144 shares, compared to its average volume of 5,451,567. The company has a market cap of $19,250.00, a PE ratio of 26.10 and a beta of 0.11. 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 12 month low of $30.40 and a 12 month high of $39.63.
Newmont Mining Corporation (NYSE:NEM) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted $0.38 EPS. Newmont Mining Corporation’s revenue was up 4.9% on a year-over-year basis. sell-side analysts anticipate that Newmont Mining Corporation will post 1.44 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 8th will be paid a dividend of $0.075 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.83%. Newmont Mining Corporation’s payout ratio is presently 42.86%.
In other news, EVP Elaine J. Dorward-King sold 10,250 shares of Newmont Mining Corporation stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $38.27, for a total transaction of $392,267.50. Following the transaction, the executive vice president now owns 82,114 shares in the company, valued at $3,142,502.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of Newmont Mining Corporation stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total transaction of $45,550.00. Following the transaction, the chief operating officer now owns 86,862 shares in the company, valued at approximately $3,165,251.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,700 shares of company stock worth $1,042,103. Insiders own 0.32% of the company’s stock.
Several large investors have recently modified their holdings of NEM. Creative Planning lifted its holdings in Newmont Mining Corporation by 22.3% in the second quarter. Creative Planning now owns 8,761 shares of the basic materials company’s stock valued at $284,000 after buying an additional 1,598 shares during the period. LS Investment Advisors LLC lifted its holdings in Newmont Mining Corporation by 5.0% in the second quarter. LS Investment Advisors LLC now owns 15,664 shares of the basic materials company’s stock valued at $507,000 after buying an additional 741 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Newmont Mining Corporation by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the basic materials company’s stock valued at $1,072,000 after buying an additional 400 shares during the period. Aperio Group LLC lifted its holdings in Newmont Mining Corporation by 22.6% in the second quarter. Aperio Group LLC now owns 272,453 shares of the basic materials company’s stock valued at $8,825,000 after buying an additional 50,202 shares during the period. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO acquired a new position in Newmont Mining Corporation in the second quarter valued at $1,396,000. Institutional investors own 80.38% 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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