Newmont Mining Corporation (NEM) Price Target Increased to $55.00 by Analysts at Scotiabank
Newmont Mining Corporation (NYSE:NEM) had its price target lifted by Scotiabank from $43.50 to $55.00 in a report published on Wednesday. Scotiabank currently has an outperform rating on the basic materials company’s stock.
A number of other equities analysts have also weighed in on the company. BMO Capital Markets upped their target price on Newmont Mining Corporation to $54.00 and gave the stock a buy rating in a research note on Thursday, May 11th. Royal Bank Of Canada set a $40.00 target price on Newmont Mining Corporation and gave the stock a hold rating in a research note on Monday, June 12th. Jefferies Group LLC set a $37.00 target price on Newmont Mining Corporation and gave the stock a hold rating in a research note on Friday, May 19th. BidaskClub lowered Newmont Mining Corporation from a hold rating to a sell rating in a research note on Saturday, June 17th. Finally, Raymond James Financial, Inc. began coverage on Newmont Mining Corporation in a research note on Thursday, June 15th. They issued an outperform rating and a $43.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $41.91.
Newmont Mining Corporation (NYSE NEM) opened at 37.06 on Wednesday. Newmont Mining Corporation has a 12 month low of $30.19 and a 12 month high of $46.07. The company’s market cap is $19.76 billion. The company has a 50 day moving average price of $33.64 and a 200-day moving average price of $34.21.
Newmont Mining Corporation (NYSE:NEM) last issued 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 for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. Equities analysts predict that Newmont Mining Corporation will post $1.29 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.81%. This is a positive change 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, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $33.67, for a total transaction of $33,670.00. Following the transaction, the insider now directly owns 334,730 shares in the company, valued at approximately $11,270,359.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $39,750.00. Following the transaction, the chief operating officer now owns 91,862 shares in the company, valued at $2,921,211.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,950 shares of company stock worth $468,670. 0.32% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in Newmont Mining Corporation during the first quarter valued at about $118,000. Smith Affiliated Capital Corp. raised its position in Newmont Mining Corporation by 8.6% in the second quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock valued at $123,000 after buying an additional 300 shares during the last quarter. WFG Advisors LP raised its position in Newmont Mining Corporation by 83.5% in the first quarter. WFG Advisors LP now owns 3,748 shares of the basic materials company’s stock valued at $124,000 after buying an additional 1,706 shares during the last quarter. Acrospire Investment Management LLC raised its position in Newmont Mining Corporation by 88.5% in the first quarter. Acrospire Investment Management LLC now owns 4,900 shares of the basic materials company’s stock valued at $162,000 after buying an additional 2,300 shares during the last quarter. Finally, Private Capital Advisors Inc. bought a new position in Newmont Mining Corporation during the first quarter valued at about $202,000. Institutional investors and hedge funds own 81.65% 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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