Argus upgraded shares of Newmont Mining Corporation (NYSE:NEM) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, Marketbeat.com reports. The brokerage currently has $43.00 price objective on the basic materials company’s stock.

Several other research analysts have also issued reports on NEM. Jefferies Group LLC raised their target price on shares of Newmont Mining Corporation from $34.00 to $37.00 and gave the company a hold rating in a research note on Wednesday, April 19th. BMO Capital Markets reissued a buy rating and set a $40.00 price objective on shares of Newmont Mining Corporation in a research note on Friday, April 21st. TD Securities reissued a hold rating and set a $48.50 price objective on shares of Newmont Mining Corporation in a research note on Tuesday, April 25th. Scotiabank reissued a sector perform rating and set a $58.00 price objective on shares of Newmont Mining Corporation in a research note on Tuesday, April 25th. Finally, Credit Suisse Group reissued a buy rating on shares of Newmont Mining Corporation in a research note on Thursday, April 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $41.73.

Newmont Mining Corporation (NYSE NEM) traded up 0.16% during mid-day trading on Thursday, reaching $37.12. 3,063,850 shares of the company traded hands. The stock’s 50-day moving average price is $33.64 and its 200-day moving average price is $34.21. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $46.07. The firm’s market cap is $19.80 billion.

Newmont Mining Corporation (NYSE:NEM) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.20. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. Analysts forecast that Newmont Mining Corporation will post $1.29 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Wednesday, September 13th. This is a boost from Newmont Mining Corporation’s previous quarterly dividend of $0.05. Newmont Mining Corporation’s payout ratio is presently -22.22%.

In other news, EVP E Randall Engel sold 5,700 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $35.00, for a total value of $199,500.00. Following the completion of the sale, the executive vice president now owns 256,800 shares of the company’s stock, valued at $8,988,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $31.80, for a total transaction of $39,750.00. Following the completion of the sale, the chief operating officer now directly owns 91,862 shares of the company’s stock, valued at approximately $2,921,211.60. The disclosure for this sale can be found here. In the last three months, insiders sold 12,950 shares of company stock valued at $435,000. 0.32% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 buying an additional 1,671,897 shares in the last quarter. Van ECK Associates Corp boosted its stake in Newmont Mining Corporation by 4.8% in the first quarter. Van ECK Associates Corp now owns 36,170,799 shares of the basic materials company’s stock valued at $1,192,190,000 after buying an additional 1,656,051 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Newmont Mining Corporation by 55.8% in the first quarter. Bank of New York Mellon Corp now owns 9,135,286 shares of the basic materials company’s stock valued at $301,099,000 after buying an additional 3,273,420 shares in the last quarter. APG Asset Management N.V. boosted its stake in Newmont Mining Corporation by 6.4% in the second quarter. APG Asset Management N.V. now owns 8,933,153 shares of the basic materials company’s stock valued at $289,345,000 after buying an additional 534,550 shares in the last quarter. Finally, Flossbach Von Storch AG boosted 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 buying an additional 1,780,593 shares in the last quarter. 81.41% of the stock is owned by institutional investors and hedge funds.

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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