Newmont Mining Corporation (NYSE:NEM) had its price target boosted by TD Securities from $36.00 to $50.00 in a research report released on Wednesday morning. The brokerage currently has a hold rating on the basic materials company’s stock.

NEM has been the subject of a number of other reports. Deutsche Bank AG reiterated a buy rating and issued a $42.00 target price (down from $44.00) on shares of Newmont Mining Corporation in a research note on Sunday, June 25th. Jefferies Group LLC restated a hold rating and issued a $35.00 price objective (down from $37.00) on shares of Newmont Mining Corporation in a research note on Friday, July 14th. Scotiabank restated a sector perform rating and issued a $58.00 price objective on shares of Newmont Mining Corporation in a research note on Tuesday, April 25th. Credit Suisse Group set a $45.00 price objective on shares of Newmont Mining Corporation and gave the stock a buy rating in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a hold rating and issued a $39.00 price objective on shares of Newmont Mining Corporation in a research note on Tuesday, May 30th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $41.91.

Shares of Newmont Mining Corporation (NYSE NEM) opened at 37.06 on Wednesday. The stock has a 50 day moving average of $33.64 and a 200 day moving average of $34.21. Newmont Mining Corporation has a 52-week low of $30.19 and a 52-week high of $46.07. The firm’s market cap is $19.76 billion.

Newmont Mining Corporation (NYSE:NEM) last posted its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.20. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations 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 was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. Equities analysts predict that Newmont Mining Corporation will post $1.29 EPS for the current fiscal year.

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The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.30 dividend on an annualized basis and a yield of 0.81%. This is a positive change from Newmont Mining Corporation’s previous quarterly dividend of $0.05. Newmont Mining Corporation’s payout ratio is -22.22%.

In other Newmont Mining Corporation news, insider Gary J. Goldberg sold 1,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $33.67, for a total value of $33,670.00. Following the sale, the insider now owns 334,730 shares of the company’s stock, valued at approximately $11,270,359.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP E Randall Engel sold 5,700 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $35.00, for a total transaction of $199,500.00. Following the completion of the sale, the executive vice president now directly owns 256,800 shares in the company, valued at approximately $8,988,000. The disclosure for this sale can be found here. Insiders sold a total of 13,950 shares of company stock worth $468,670 in the last three months. Insiders own 0.32% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new stake in shares of Newmont Mining Corporation during the first quarter valued at about $118,000. WFG Advisors LP raised its stake in shares of 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 period. Smith Affiliated Capital Corp. raised its stake in shares of 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 period. Acrospire Investment Management LLC raised its stake in shares of 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 period. Finally, Private Capital Advisors Inc. acquired a new stake in shares of Newmont Mining Corporation during the first quarter valued at about $202,000. 81.65% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Newmont Mining Corporation (NYSE:NEM)

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