BMO Capital Markets set a $45.00 target price on Newmont Mining Corporation (NYSE:NEM) in a research report report published on Tuesday morning. The firm currently has a buy rating on the basic materials company’s stock.
NEM has been the topic of several other reports. Zacks Investment Research upgraded shares of Newmont Mining Corporation from a hold rating to a buy rating and set a $43.00 target price on the stock in a report on Wednesday, October 18th. TD Securities set a $42.00 target price on shares of Newmont Mining Corporation and gave the stock a hold rating in a report on Thursday, October 19th. Credit Suisse Group set a $45.00 target price on shares of Newmont Mining Corporation and gave the stock a buy rating in a report on Tuesday, July 18th. Royal Bank Of Canada set a $41.00 target price on shares of Newmont Mining Corporation and gave the stock a hold rating in a report on Monday, August 28th. Finally, BidaskClub cut shares of Newmont Mining Corporation from a hold rating to a sell rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Newmont Mining Corporation presently has an average rating of Hold and an average target price of $40.83.
Shares of Newmont Mining Corporation (NEM) opened at $36.21 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.58 and a current ratio of 4.18. The company has a market cap of $19,250.00, a P/E ratio of 26.10 and a beta of 0.11. Newmont Mining Corporation has a fifty-two week low of $30.40 and a fifty-two week high of $39.63.
Newmont Mining Corporation (NYSE:NEM) last announced its earnings results on Thursday, October 26th. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. Newmont Mining Corporation had a net margin of 1.18% and a return on equity of 6.20%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. equities analysts anticipate that Newmont Mining Corporation will post 1.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 8th will be paid a $0.075 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.30 annualized dividend and a dividend yield of 0.83%. Newmont Mining Corporation’s dividend payout ratio is presently 42.86%.
In related news, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.60, for a total value of $48,250.00. Following the completion of the transaction, the chief operating officer now directly owns 89,362 shares of the company’s stock, valued at $3,449,373.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.60, for a total transaction of $38,600.00. Following the completion of the transaction, the insider now directly owns 334,730 shares of the company’s stock, valued at $12,920,578. The disclosure for this sale can be found here. Insiders sold 27,700 shares of company stock valued at $1,042,103 over the last three months. 0.32% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Deane Retirement Strategies Inc. bought a new position in Newmont Mining Corporation during the third quarter worth $1,513,000. MUFG Securities EMEA plc bought a new position in Newmont Mining Corporation during the second quarter worth $12,341,000. Saratoga Research & Investment Management bought a new position in Newmont Mining Corporation during the third quarter worth $382,000. Shell Asset Management Co. boosted its position in Newmont Mining Corporation by 173.1% during the third quarter. Shell Asset Management Co. now owns 793,199 shares of the basic materials company’s stock worth $18,283,000 after purchasing an additional 502,784 shares during the period. Finally, Boyer & Corporon Wealth Management LLC boosted its position in Newmont Mining Corporation by 9.4% during the second quarter. Boyer & Corporon Wealth Management LLC now owns 116,703 shares of the basic materials company’s stock worth $3,780,000 after purchasing an additional 10,048 shares during the period. 80.38% of the stock is owned by hedge funds and other institutional investors.
About Newmont Mining Corporation
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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