Newmont Mining Corporation (NEM) Price Target Raised to $54.00

Newmont Mining Corporation (NYSE:NEM) had its price target increased by BMO Capital Markets to $54.00 in a report issued on Thursday, May 11th. The firm currently has a buy rating on the basic materials company’s stock.

NEM has been the topic of a number of other reports. Vetr lowered Newmont Mining Corporation from a sell rating to a strong sell rating and set a $32.55 price objective on the stock. in a research note on Monday, February 6th. Royal Bank of Canada lowered Newmont Mining Corporation from an outperform rating to a sector perform rating and lowered their price target for the company from $43.00 to $38.00 in a research note on Thursday, March 16th. They noted that the move was a valuation call. Jefferies Group LLC set a $34.00 price target on Newmont Mining Corporation and gave the company a hold rating in a research note on Wednesday, February 22nd. TD Securities restated a hold rating and set a $48.50 price target on shares of Newmont Mining Corporation in a research note on Tuesday, April 25th. Finally, Credit Suisse Group restated a buy rating on shares of Newmont Mining Corporation in a research note on Thursday, April 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $42.62.

Shares of Newmont Mining Corporation (NYSE NEM) traded down 0.61% during midday trading on Thursday, reaching $32.84. The company’s stock had a trading volume of 7,180,921 shares. Newmont Mining Corporation has a 52 week low of $30.19 and a 52 week high of $46.07. The stock has a 50-day moving average price of $33.66 and a 200 day moving average price of $34.13. The stock’s market capitalization is $17.51 billion.

Newmont Mining Corporation (NYSE:NEM) last posted its quarterly earnings data on Monday, April 24th. The basic materials company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.73 billion. Newmont Mining Corporation had a positive return on equity of 6.24% and a negative net margin of 8.70%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. Equities analysts forecast that Newmont Mining Corporation will post $1.12 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 22nd. Shareholders of record on Thursday, June 8th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Tuesday, June 6th. Newmont Mining Corporation’s payout ratio is -16.81%.

In other Newmont Mining Corporation news, EVP Scott P. Lawson sold 1,500 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $33.70, for a total transaction of $50,550.00. Following the completion of the sale, the executive vice president now owns 61,696 shares in the company, valued at approximately $2,079,155.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $33.05, for a total transaction of $33,050.00. Following the sale, the insider now owns 334,730 shares of the company’s stock, valued at approximately $11,062,826.50. The disclosure for this sale can be found here. Insiders have sold a total of 9,200 shares of company stock valued at $316,770 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in Newmont Mining Corporation during the first quarter worth approximately $118,000. WFG Advisors LP boosted its stake in Newmont Mining Corporation by 83.5% in the first quarter. WFG Advisors LP now owns 3,748 shares of the basic materials company’s stock worth $124,000 after buying an additional 1,706 shares in the last quarter. Tuttle Tactical Management LLC purchased a new stake in Newmont Mining Corporation during the third quarter worth approximately $172,000. Acrospire Investment Management LLC boosted its stake in Newmont Mining Corporation by 88.5% in the first quarter. Acrospire Investment Management LLC now owns 4,900 shares of the basic materials company’s stock worth $162,000 after buying an additional 2,300 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC purchased a new stake in Newmont Mining Corporation during the third quarter worth approximately $207,000. Institutional investors own 81.60% 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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