Deutsche Bank Reiterates $36.00 Price Target for Newmont Mining (NEM)

Deutsche Bank set a $36.00 price target on Newmont Mining (NYSE:NEM) in a research report released on Friday morning. The brokerage currently has a hold rating on the basic materials company’s stock.

NEM has been the subject of several other reports. TD Securities lifted their price target on Newmont Mining from $37.00 to $38.00 and gave the stock a hold rating in a report on Thursday, November 1st. Jefferies Financial Group reissued a hold rating and set a $33.00 price target on shares of Newmont Mining in a report on Monday, October 8th. Canaccord Genuity reissued a hold rating and set a $37.00 price target on shares of Newmont Mining in a report on Monday, October 22nd. ValuEngine raised Newmont Mining from a hold rating to a buy rating in a report on Friday, November 16th. Finally, Citigroup dropped their price target on Newmont Mining from $42.00 to $36.00 and set a neutral rating for the company in a report on Wednesday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Newmont Mining presently has an average rating of Hold and a consensus target price of $41.27.

Shares of NEM traded up $0.73 during mid-day trading on Friday, reaching $33.39. The company’s stock had a trading volume of 6,957,951 shares, compared to its average volume of 4,802,953. Newmont Mining has a 1-year low of $29.06 and a 1-year high of $42.04. The stock has a market cap of $17.40 billion, a price-to-earnings ratio of 22.87 and a beta of 0.27. The company has a quick ratio of 4.02, a current ratio of 4.70 and a debt-to-equity ratio of 0.36.

Newmont Mining (NYSE:NEM) last released its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.11. Newmont Mining had a positive return on equity of 6.19% and a negative net margin of 2.63%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.80 billion. As a group, analysts expect that Newmont Mining will post 1.23 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Thursday, December 6th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.68%. Newmont Mining’s dividend payout ratio (DPR) is presently 38.36%.

In other Newmont Mining news, CFO Nancy Buese sold 2,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $32.88, for a total transaction of $65,760.00. Following the transaction, the chief financial officer now owns 36,379 shares in the company, valued at approximately $1,196,141.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gary J. Goldberg sold 4,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $30.20, for a total value of $120,800.00. Following the transaction, the insider now owns 138,533 shares in the company, valued at approximately $4,183,696.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,750 shares of company stock worth $969,548. Corporate insiders own 0.36% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NEM. Flossbach Von Storch AG increased its stake in Newmont Mining by 32.8% during the 3rd quarter. Flossbach Von Storch AG now owns 13,529,462 shares of the basic materials company’s stock worth $408,590,000 after acquiring an additional 3,339,775 shares during the period. FMR LLC increased its stake in shares of Newmont Mining by 54.1% in the 2nd quarter. FMR LLC now owns 7,404,467 shares of the basic materials company’s stock valued at $279,222,000 after purchasing an additional 2,598,995 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Newmont Mining by 22.5% in the 3rd quarter. First Eagle Investment Management LLC now owns 11,705,007 shares of the basic materials company’s stock valued at $353,491,000 after purchasing an additional 2,153,531 shares during the last quarter. Unigestion Holding SA bought a new position in shares of Newmont Mining in the 3rd quarter valued at $60,640,000. Finally, BlackRock Inc. increased its stake in shares of Newmont Mining by 1.8% in the 3rd quarter. BlackRock Inc. now owns 72,485,781 shares of the basic materials company’s stock valued at $2,189,072,000 after purchasing an additional 1,288,890 shares during the last quarter. Hedge funds and other institutional investors own 83.98% of the company’s stock.

Newmont Mining Company Profile

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.

Further Reading: What is a Leveraged Buyout (LBO)?

Analyst Recommendations for Newmont Mining (NYSE:NEM)

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