Other equities analysts have also issued research reports about the company. Credit Suisse Group set a $49.00 target price on Newmont Mining and gave the company a buy rating in a research note on Friday, November 9th. BMO Capital Markets reissued a buy rating and issued a $46.00 target price on shares of Newmont Mining in a research note on Friday, September 21st. ValuEngine raised Newmont Mining from a hold rating to a buy rating in a research note on Friday, November 16th. TheStreet lowered Newmont Mining from a b- rating to a c rating in a research note on Thursday, October 4th. Finally, Jefferies Financial Group reissued a hold rating and issued a $33.00 target price on shares of Newmont Mining in a research note on Monday, October 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $41.27.
NYSE:NEM traded up $0.73 during mid-day trading on Friday, hitting $33.39. The company had a trading volume of 6,957,951 shares, compared to its average volume of 4,802,953. Newmont Mining has a fifty-two week low of $29.06 and a fifty-two week high of $42.04. The company has a current ratio of 4.70, a quick ratio of 4.02 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $17.40 billion, a price-to-earnings ratio of 22.87 and a beta of 0.27.
Newmont Mining (NYSE:NEM) last released its earnings results on Thursday, October 25th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Newmont Mining had a positive return on equity of 6.19% and a negative net margin of 2.63%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.80 billion. Sell-side analysts predict that Newmont Mining will post 1.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Thursday, December 6th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 1.68%. Newmont Mining’s dividend payout ratio (DPR) is currently 38.36%.
In other Newmont Mining news, insider Gary J. Goldberg sold 4,000 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $30.20, for a total value of $120,800.00. Following the completion of the sale, the insider now directly owns 138,533 shares in the company, valued at $4,183,696.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $30.20, for a total value 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 disclosure for this sale can be found here. Insiders sold 30,750 shares of company stock valued at $969,548 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.
Several institutional investors have recently made changes to their positions in NEM. Private Advisor Group LLC bought a new position in shares of Newmont Mining during the third quarter worth about $225,000. Levin Capital Strategies L.P. bought a new position in shares of Newmont Mining during the third quarter worth about $226,000. Exane Asset Management bought a new position in shares of Newmont Mining during the third quarter worth about $255,000. Dupont Capital Management Corp grew its holdings in shares of 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 buying an additional 1,916 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Newmont Mining during the second quarter worth about $273,000. Institutional investors own 83.98% 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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