Newmont Mining Corp. (NEM) Rating Reiterated by Credit Suisse Group AG
Newmont Mining Corp. (NYSE:NEM)‘s stock had its “buy” rating reissued by equities research analysts at Credit Suisse Group AG in a note issued to investors on Monday.
Several other analysts have also recently issued reports on NEM. Morgan Stanley reiterated a “hold” rating and set a $41.00 target price on shares of Newmont Mining Corp. in a research report on Tuesday, August 16th. Barclays PLC increased their target price on Newmont Mining Corp. from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, August 8th. Citigroup Inc. reiterated a “buy” rating on shares of Newmont Mining Corp. in a research report on Thursday, August 18th. Zacks Investment Research cut Newmont Mining Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Finally, Vetr cut Newmont Mining Corp. from a “strong-buy” rating to a “buy” rating and set a $45.64 target price for the company. in a research report on Tuesday, September 6th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of C$37.47.
Newmont Mining Corp. (NYSE:NEM) opened at 38.15 on Monday. Newmont Mining Corp. has a 52 week low of $15.45 and a 52 week high of $46.07. The stock has a market capitalization of $20.24 billion, a PE ratio of 515.54 and a beta of 0.22. The firm has a 50-day moving average price of $41.97 and a 200-day moving average price of $35.76.
Newmont Mining Corp. (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.14. The business earned $2 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Newmont Mining Corp. had a return on equity of 3.89% and a net margin of 0.51%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 earnings per share. Equities research analysts predict that Newmont Mining Corp. will post $1.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.10 annualized dividend and a yield of 0.26%. Newmont Mining Corp.’s payout ratio is currently 166.69%.
In other Newmont Mining Corp. news, EVP Scott P. Lawson sold 4,700 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of C$40.35, for a total transaction of C$189,645.00. Following the transaction, the executive vice president now directly owns 46,295 shares in the company, valued at approximately C$1,868,003.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP E Randall Engel sold 8,700 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of C$42.55, for a total value of C$370,185.00. Following the transaction, the executive vice president now owns 219,389 shares in the company, valued at C$9,335,001.95. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEM. Franklin Resources Inc. increased its position in Newmont Mining Corp. by 1.1% in the first quarter. Franklin Resources Inc. now owns 135,018 shares of the company’s stock valued at $3,588,000 after buying an additional 1,529 shares during the last quarter. FDO Partners LLC purchased a new position in Newmont Mining Corp. during the first quarter valued at approximately $1,141,000. Teachers Advisors Inc. increased its position in Newmont Mining Corp. by 18.8% in the first quarter. Teachers Advisors Inc. now owns 938,482 shares of the company’s stock valued at $24,945,000 after buying an additional 148,448 shares during the last quarter. Exane Derivatives increased its position in Newmont Mining Corp. by 1.1% in the first quarter. Exane Derivatives now owns 12,558 shares of the company’s stock valued at $334,000 after buying an additional 136 shares during the last quarter. Finally, Virginia Retirement System purchased a new position in Newmont Mining Corp. during the first quarter valued at approximately $12,771,000. Institutional investors own 79.71% of the company’s stock.
Newmont Mining Corp. Company Profile
Newmont Mining Corporation is a global 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, Indonesia, Ghana and Suriname. Its segments are North America, South America, Asia Pacific and Africa.
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