Newmont Mining Corp (NEM) Receives Consensus Recommendation of “Buy” from Analysts
Newmont Mining Corp (NYSE:NEM) has been given an average rating of “Buy” by the seventeen analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $41.95.
Several equities research analysts have commented on NEM shares. TheStreet lowered shares of Newmont Mining from a “b-” rating to a “c” rating in a research note on Friday, November 17th. Zacks Investment Research upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Wednesday, October 18th. TD Securities set a $42.00 price objective on shares of Newmont Mining and gave the company a “hold” rating in a research note on Thursday, October 19th. BMO Capital Markets reiterated a “buy” rating and issued a $43.00 price objective on shares of Newmont Mining in a research note on Wednesday, December 20th. Finally, Deutsche Bank lowered shares of Newmont Mining from a “buy” rating to a “hold” rating and decreased their price objective for the company from $42.00 to $40.00 in a research note on Tuesday.
In other news, EVP E Randall Engel sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $36.44, for a total transaction of $207,708.00. Following the completion of the sale, the executive vice president now owns 122,178 shares in the company, valued at approximately $4,452,166.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $36.48, for a total transaction of $373,920.00. Following the sale, the executive vice president now owns 71,864 shares of the company’s stock, valued at approximately $2,621,598.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,700 shares of company stock valued at $1,020,676. 0.32% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Sun Life Financial INC grew its stake in Newmont Mining by 43,144.4% in the 2nd quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock valued at $126,000 after buying an additional 3,883 shares in the last quarter. Tiedemann Wealth Management LLC grew its stake in Newmont Mining by 66.5% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 14,862 shares of the basic materials company’s stock valued at $170,000 after buying an additional 5,938 shares in the last quarter. Parametrica Management Ltd purchased a new position in Newmont Mining in the 3rd quarter valued at approximately $222,000. Timber Hill LLC purchased a new position in Newmont Mining in the 3rd quarter valued at approximately $260,000. Finally, Veritable L.P. grew its stake in Newmont Mining by 4.6% in the 2nd quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock valued at $274,000 after buying an additional 370 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.
Shares of Newmont Mining (NEM) opened at $39.24 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.18 and a quick ratio of 3.58. The company has a market cap of $20,930.00, a PE ratio of 56.06 and a beta of 0.10. Newmont Mining has a one year low of $31.42 and a one year high of $40.25.
Newmont Mining (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.86 billion. Newmont Mining had a net margin of 1.18% and a return on equity of 6.20%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. equities research analysts forecast that Newmont Mining will post 1.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Friday, December 8th were paid a dividend of $0.075 per share. The ex-dividend date was Thursday, December 7th. This represents a $0.30 annualized dividend and a dividend yield of 0.76%. Newmont Mining’s payout ratio is currently 42.86%.
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About Newmont Mining
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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