Jefferies Financial Group reissued their hold rating on shares of Newmont Mining (NYSE:NEM) in a research note published on Monday. They currently have a $33.00 price target on the basic materials company’s stock.
A number of other research analysts have also recently weighed in on NEM. TheStreet cut shares of Newmont Mining from a b- rating to a c rating in a report on Thursday, October 4th. Deutsche Bank set a $37.00 price objective on shares of Newmont Mining and gave the company a hold rating in a report on Tuesday, October 2nd. ValuEngine raised shares of Newmont Mining from a hold rating to a buy rating in a report on Friday, June 29th. BMO Capital Markets reaffirmed a buy rating and issued a $46.00 price objective on shares of Newmont Mining in a report on Friday, September 21st. Finally, Canaccord Genuity set a $40.00 price objective on shares of Newmont Mining and gave the company a hold rating in a report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Newmont Mining has a consensus rating of Hold and a consensus price target of $41.38.
NEM opened at $30.52 on Monday. Newmont Mining has a fifty-two week low of $29.16 and a fifty-two week high of $42.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.60 and a quick ratio of 3.95. The firm has a market capitalization of $16.11 billion, a price-to-earnings ratio of 20.90 and a beta of 0.24.
Newmont Mining (NYSE:NEM) last released its quarterly earnings data on Thursday, July 26th. The basic materials company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Newmont Mining had a net margin of 2.23% and a return on equity of 6.17%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was down 11.4% on a year-over-year basis. As a group, equities analysts anticipate that Newmont Mining will post 1.23 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Thursday, September 13th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, September 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.83%. Newmont Mining’s dividend payout ratio is currently 38.36%.
In other news, EVP Elaine J. Dorward-King sold 3,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $30.20, for a total transaction of $90,600.00. Following the completion of the sale, the executive vice president now owns 102,831 shares of the company’s stock, valued at $3,105,496.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary J. Goldberg sold 4,000 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $30.20, for a total transaction of $120,800.00. Following the sale, the insider now directly owns 138,533 shares of the company’s stock, valued at approximately $4,183,696.60. The disclosure for this sale can be found here. Insiders have sold 20,500 shares of company stock valued at $675,763 in the last three months. Corporate insiders own 0.36% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Mount Yale Investment Advisors LLC acquired a new position in Newmont Mining during the first quarter worth about $115,000. Private Capital Group LLC boosted its position in Newmont Mining by 177.0% during the first quarter. Private Capital Group LLC now owns 3,028 shares of the basic materials company’s stock worth $118,000 after acquiring an additional 1,935 shares during the last quarter. Summit Trail Advisors LLC boosted its position in Newmont Mining by 4,127.4% during the first quarter. Summit Trail Advisors LLC now owns 127,624 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 124,605 shares during the last quarter. Gables Capital Management Inc. acquired a new position in Newmont Mining during the first quarter worth about $227,000. Finally, Dupont Capital Management Corp boosted its position in Newmont Mining by 38.7% during the second quarter. Dupont Capital Management Corp now owns 6,864 shares of the basic materials company’s stock worth $259,000 after acquiring an additional 1,916 shares during the last quarter. Hedge funds and other institutional investors own 82.66% of the company’s stock.
Newmont Mining Company Profile
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.
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