Newmont Mining Corporation (NEM) Receives Average Recommendation of “Buy” from Analysts

Newmont Mining Corporation (NYSE:NEM) has been assigned an average rating of “Buy” from the twenty-one brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $41.10.

A number of analysts have commented on the company. TheStreet upgraded Newmont Mining Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, October 11th. Royal Bank Of Canada set a $41.00 target price on Newmont Mining Corporation and gave the stock a “hold” rating in a research report on Monday, August 28th. Zacks Investment Research upgraded Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Monday, July 31st. Argus upgraded Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday, July 27th. Finally, BidaskClub upgraded Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd.

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Newmont Mining Corporation (NEM) traded down 1.55% on Wednesday, reaching $37.99. The company had a trading volume of 3,928,744 shares. The company’s 50-day moving average is $38.15 and its 200-day moving average is $35.20. The company’s market capitalization is $20.26 billion. Newmont Mining Corporation has a 52-week low of $30.19 and a 52-week high of $39.63.

Newmont Mining Corporation (NYSE:NEM) last posted its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.20. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.77 billion. Newmont Mining Corporation had a positive return on equity of 6.67% and a negative net margin of 6.73%. Newmont Mining Corporation’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share. Equities analysts anticipate that Newmont Mining Corporation will post $1.42 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 14th were paid a $0.075 dividend. This is a positive change from Newmont Mining Corporation’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 0.79%. The ex-dividend date was Wednesday, September 13th. Newmont Mining Corporation’s dividend payout ratio is presently -33.33%.

In related news, insider Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $38.60, for a total value of $38,600.00. Following the completion of the transaction, the insider now directly owns 334,730 shares in the company, valued at $12,920,578. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Macgowan sold 2,007 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 127,178 shares of the company’s stock, valued at $4,653,443.02. The disclosure for this sale can be found here. Insiders sold 29,707 shares of company stock valued at $1,120,866 over the last quarter. Insiders own 0.32% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in NEM. Janus Henderson Group PLC increased its stake in Newmont Mining Corporation by 7,145.7% in the second quarter. Janus Henderson Group PLC now owns 5,273,545 shares of the basic materials company’s stock valued at $170,812,000 after purchasing an additional 5,200,763 shares during the last quarter. Flossbach Von Storch AG increased its stake in Newmont Mining Corporation by 29.2% in the second quarter. Flossbach Von Storch AG now owns 7,873,186 shares of the basic materials company’s stock valued at $255,012,000 after purchasing an additional 1,780,593 shares during the last quarter. Vanguard Group Inc. increased its stake in Newmont Mining Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock valued at $1,744,405,000 after purchasing an additional 1,671,897 shares during the last quarter. FMR LLC increased its stake in Newmont Mining Corporation by 24.6% in the second quarter. FMR LLC now owns 4,964,974 shares of the basic materials company’s stock valued at $160,816,000 after purchasing an additional 979,529 shares during the last quarter. Finally, Global Thematic Partners LLC increased its stake in Newmont Mining Corporation by 28.4% in the second quarter. Global Thematic Partners LLC now owns 4,071,299 shares of the basic materials company’s stock valued at $131,868,000 after purchasing an additional 901,550 shares during the last quarter. Hedge funds and other institutional investors own 81.06% 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.

Analyst Recommendations for Newmont Mining Corporation (NYSE:NEM)

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