Newmont Mining (NEM) Rating Lowered to Hold at Deutsche Bank

Newmont Mining (NYSE:NEM) was downgraded by equities researchers at Deutsche Bank from a “buy” rating to a “hold” rating in a research report issued on Tuesday, January 16th, MarketBeat.com reports. They presently have a $40.00 target price on the basic materials company’s stock, down from their previous target price of $42.00. Deutsche Bank’s price objective points to a potential upside of 8.81% from the company’s current price.

Other analysts have also issued reports about the stock. TheStreet upgraded shares of Newmont Mining from a “c+” rating to a “b” rating in a report on Wednesday, October 11th. Scotiabank set a $48.00 price objective on shares of Newmont Mining and gave the stock a “buy” rating in a report on Monday, January 15th. BMO Capital Markets restated a “buy” rating and issued a $43.00 price objective on shares of Newmont Mining in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, October 18th. Finally, FBR & Co set a $40.00 target price on shares of Newmont Mining and gave the company a “hold” rating in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $41.80.

Shares of Newmont Mining (NYSE:NEM) traded up $0.15 on Tuesday, reaching $36.76. 10,984,050 shares of the company’s stock traded hands, compared to its average volume of 5,450,000. The company has a quick ratio of 3.58, a current ratio of 4.18 and a debt-to-equity ratio of 0.33. Newmont Mining has a twelve month low of $31.42 and a twelve month high of $42.04. The stock has a market capitalization of $19,610.00, a price-to-earnings ratio of 52.51 and a beta of 0.24.

In related news, EVP E Randall Engel sold 5,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $40.23, for a total transaction of $229,311.00. Following the completion of the sale, the executive vice president now owns 239,700 shares of the company’s stock, valued at $9,643,131. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $36.48, for a total transaction of $373,920.00. Following the sale, the executive vice president now directly owns 71,864 shares of the company’s stock, valued at approximately $2,621,598.72. The disclosure for this sale can be found here. Insiders have sold 27,700 shares of company stock valued at $1,050,806 in the last ninety days. Insiders own 0.32% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Republic Investment Management Inc. increased its position in shares of Newmont Mining by 28.5% during the fourth quarter. First Republic Investment Management Inc. now owns 37,650 shares of the basic materials company’s stock valued at $1,413,000 after acquiring an additional 8,357 shares in the last quarter. Timber Hill LLC increased its position in shares of Newmont Mining by 420.0% during the fourth quarter. Timber Hill LLC now owns 36,050 shares of the basic materials company’s stock valued at $1,353,000 after acquiring an additional 29,117 shares in the last quarter. Norinchukin Bank The increased its position in shares of Newmont Mining by 7.4% during the fourth quarter. Norinchukin Bank The now owns 42,643 shares of the basic materials company’s stock valued at $1,600,000 after acquiring an additional 2,954 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of Newmont Mining by 505.1% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 154,356 shares of the basic materials company’s stock valued at $5,791,000 after acquiring an additional 128,847 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of Newmont Mining by 14.9% during the fourth quarter. American International Group Inc. now owns 182,639 shares of the basic materials company’s stock valued at $6,853,000 after acquiring an additional 23,655 shares in the last quarter. 81.97% of the stock is owned by institutional investors.

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Newmont Mining Company Profile

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 (NYSE:NEM)

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