Newmont Mining Corporation (NEM) Given a $41.00 Price Target at Royal Bank Of Canada
Royal Bank Of Canada set a $41.00 price objective on Newmont Mining Corporation (NYSE:NEM) in a research report report published on Monday. The firm currently has a hold rating on the basic materials company’s stock.
A number of other equities analysts also recently issued reports on the company. BMO Capital Markets set a $40.00 price objective on Newmont Mining Corporation and gave the stock a buy rating in a report on Wednesday, August 23rd. BidaskClub downgraded Newmont Mining Corporation from a hold rating to a sell rating in a report on Thursday, August 10th. Zacks Investment Research downgraded Newmont Mining Corporation from a buy rating to a hold rating in a report on Friday, August 4th. Argus upgraded Newmont Mining Corporation from a hold rating to a buy rating and set a $43.00 price objective for the company in a report on Thursday, July 27th. Finally, TD Securities increased their price objective on Newmont Mining Corporation from $36.00 to $50.00 and gave the stock a hold rating in a report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $40.96.
Newmont Mining Corporation (NYSE:NEM) opened at 38.30 on Monday. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $42.69. The firm’s market cap is $20.42 billion. The company’s 50-day moving average is $35.43 and its 200 day moving average is $34.36.
Newmont Mining Corporation (NYSE:NEM) last posted its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.20. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.77 billion. Newmont Mining Corporation had a positive return on equity of 6.67% and a negative net margin of 6.73%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. Equities analysts anticipate that Newmont Mining Corporation will post $1.34 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.78%. This is an increase from Newmont Mining Corporation’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 13th. Newmont Mining Corporation’s dividend payout ratio (DPR) is presently -22.22%.
In related news, COO Thomas Ronald Palmer sold 1,250 shares of Newmont Mining Corporation stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $39,750.00. Following the completion of the sale, the chief operating officer now directly owns 91,862 shares in the company, valued at approximately $2,921,211.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP E Randall Engel sold 5,700 shares of Newmont Mining Corporation stock in a transaction dated Tuesday, June 6th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 22,907 shares of company stock valued at $803,461 over the last quarter. 0.32% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in NEM. Eqis Capital Management Inc. acquired a new stake in Newmont Mining Corporation during the first quarter valued at approximately $686,000. State Treasurer State of Michigan increased its stake in Newmont Mining Corporation by 0.6% in the first quarter. State Treasurer State of Michigan now owns 174,555 shares of the basic materials company’s stock valued at $5,753,000 after buying an additional 1,000 shares during the last quarter. ING Groep NV acquired a new stake in Newmont Mining Corporation during the first quarter valued at approximately $19,996,000. APG Asset Management N.V. increased its stake in Newmont Mining Corporation by 8.9% in the first quarter. APG Asset Management N.V. now owns 8,398,603 shares of the basic materials company’s stock valued at $276,818,000 after buying an additional 689,500 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in Newmont Mining Corporation by 37.2% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 809,691 shares of the basic materials company’s stock valued at $26,687,000 after buying an additional 219,704 shares during the last quarter. Institutional investors own 81.07% of the company’s stock.
Newmont Mining Corporation 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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