Newmont Mining (NEM) Earns “Buy” Rating from BMO Capital Markets

BMO Capital Markets restated their buy rating on shares of Newmont Mining (NYSE:NEM) in a report issued on Wednesday. They currently have a $43.00 price target on the basic materials company’s stock.

Other research analysts have also recently issued reports about the company. TheStreet raised Newmont Mining from a c+ rating to a b rating in a report on Wednesday, October 11th. Zacks Investment Research raised Newmont Mining from a hold rating to a buy rating and set a $43.00 price objective on the stock in a report on Wednesday, October 18th. FBR & Co set a $40.00 price objective on Newmont Mining and gave the stock a hold rating in a report on Tuesday, October 31st. TD Securities set a $42.00 price objective on Newmont Mining and gave the stock a hold rating in a report on Thursday, October 19th. Finally, Royal Bank of Canada set a $41.00 price objective on Newmont Mining and gave the stock a hold rating in a report on Monday, August 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $42.60.

Newmont Mining (NYSE NEM) traded up $0.19 during midday trading on Wednesday, reaching $36.92. The company had a trading volume of 2,217,762 shares, compared to its average volume of 5,345,305. The company has a current ratio of 4.18, a quick ratio of 3.58 and a debt-to-equity ratio of 0.33. Newmont Mining has a one year low of $31.42 and a one year high of $39.63. The stock has a market cap of $19,589.45, a PE ratio of 246.13 and a beta of 0.10.

Newmont Mining (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. Newmont Mining had a return on equity of 6.20% and a net margin of 1.18%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the firm earned $0.38 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. sell-side analysts predict that Newmont Mining will post 1.44 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 8th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.30 annualized dividend and a dividend yield of 0.81%. Newmont Mining’s dividend payout ratio (DPR) is 200.00%.

In related news, CEO Gary J. Goldberg sold 1,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total transaction of $36,440.00. Following the sale, the chief executive officer now owns 334,730 shares in the company, valued at approximately $12,197,561.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $37.35, for a total value of $46,687.50. Following the sale, the chief operating officer now owns 88,112 shares in the company, valued at approximately $3,290,983.20. The disclosure for this sale can be found here. Insiders have sold a total of 27,700 shares of company stock worth $1,020,111 in the last 90 days. 0.32% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. grew its position in Newmont Mining by 4.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,850,678 shares of the basic materials company’s stock valued at $59,944,000 after acquiring an additional 71,462 shares during the last quarter. First Trust Advisors LP grew its position in Newmont Mining by 95.0% in the 2nd quarter. First Trust Advisors LP now owns 255,382 shares of the basic materials company’s stock valued at $8,272,000 after acquiring an additional 124,389 shares during the last quarter. BB&T Securities LLC grew its position in Newmont Mining by 15.3% in the 2nd quarter. BB&T Securities LLC now owns 17,662 shares of the basic materials company’s stock valued at $571,000 after acquiring an additional 2,343 shares during the last quarter. Jennison Associates LLC grew its position in Newmont Mining by 5,712.7% in the 2nd quarter. Jennison Associates LLC now owns 636,496 shares of the basic materials company’s stock valued at $20,616,000 after acquiring an additional 625,546 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in Newmont Mining in the 2nd quarter valued at $360,000. Institutional investors own 81.85% of the company’s stock.

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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.

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