Newmont Mining Corp (NEM) Given Consensus Rating of “Hold” by Brokerages

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Newmont Mining Corp (NYSE:NEM) has been given an average rating of “Hold” by the sixteen brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $40.50.

Several equities research analysts recently commented on the company. ValuEngine cut Newmont Mining from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. BMO Capital Markets reissued a “buy” rating and issued a $46.00 price objective on shares of Newmont Mining in a research note on Friday, September 21st. Jefferies Financial Group reissued a “hold” rating and issued a $33.00 price objective on shares of Newmont Mining in a research note on Monday, October 8th. JPMorgan Chase & Co. reduced their price objective on Newmont Mining from $47.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, September 17th. Finally, TheStreet cut Newmont Mining from a “b-” rating to a “c” rating in a research note on Thursday, October 4th.

NYSE NEM traded up $0.63 during trading hours on Friday, hitting $30.23. 955,460 shares of the company’s stock were exchanged, compared to its average volume of 5,233,481. Newmont Mining has a 1-year low of $29.06 and a 1-year high of $42.04. The stock has a market capitalization of $17.05 billion, a P/E ratio of 20.92 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.60 and a quick ratio of 3.95.

Newmont Mining (NYSE:NEM) last released its earnings results on Thursday, October 25th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. Newmont Mining had a return on equity of 6.17% and a net margin of 2.23%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Equities analysts expect that Newmont Mining will post 1.15 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Thursday, December 6th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.85%. Newmont Mining’s dividend payout ratio (DPR) is presently 38.36%.

In related news, COO Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $30.53, for a total transaction of $38,162.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gary J. Goldberg sold 4,000 shares of Newmont Mining stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $36.45, for a total value of $145,800.00. The disclosure for this sale can be found here. Insiders sold 20,500 shares of company stock valued at $675,763 in the last three months. Insiders own 0.36% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Flossbach Von Storch AG boosted its position in shares of Newmont Mining by 2.6% during the second quarter. Flossbach Von Storch AG now owns 10,189,687 shares of the basic materials company’s stock valued at $384,253,000 after buying an additional 258,789 shares during the last quarter. Northern Trust Corp boosted its position in shares of Newmont Mining by 5.6% during the second quarter. Northern Trust Corp now owns 8,472,011 shares of the basic materials company’s stock valued at $319,480,000 after buying an additional 448,415 shares during the last quarter. FMR LLC boosted its position in shares of Newmont Mining by 54.1% during the second quarter. FMR LLC now owns 7,404,467 shares of the basic materials company’s stock valued at $279,222,000 after buying an additional 2,598,995 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Newmont Mining by 12.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,089,539 shares of the basic materials company’s stock valued at $191,885,000 after buying an additional 583,232 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Newmont Mining by 6.8% during the second quarter. Janus Henderson Group PLC now owns 3,598,606 shares of the basic materials company’s stock valued at $135,716,000 after buying an additional 228,782 shares during the last quarter. 82.74% of the stock is currently owned by institutional investors.

About Newmont Mining

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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Analyst Recommendations for Newmont Mining (NYSE:NEM)

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