Newmont Mining Corporation (NEM) Stock Rating Upgraded by TheStreet

Newmont Mining Corporation (NYSE:NEM) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued on Wednesday.

A number of other research firms have also recently commented on NEM. 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 research note on Monday, August 28th. Zacks Investment Research upgraded shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Monday, July 31st. Argus upgraded shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, July 27th. BidaskClub upgraded shares of Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, BMO Capital Markets set a $40.00 target price on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $40.96.

Newmont Mining Corporation (NYSE NEM) opened at 38.39 on Wednesday. The company’s 50-day moving average is $38.06 and its 200-day moving average is $35.13. The company’s market cap is $20.47 billion. Newmont Mining Corporation has a 12 month low of $30.19 and a 12 month high of $39.63.

Newmont Mining Corporation (NYSE:NEM) last released its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.20. The company 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%. Newmont Mining Corporation’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. On average, equities research analysts expect that Newmont Mining Corporation will post $1.39 EPS for the current fiscal year.

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In other Newmont Mining Corporation news, EVP William N. Macgowan sold 2,007 shares of Newmont Mining Corporation stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $36.59, for a total transaction of $73,436.13. Following the completion of the sale, the executive vice president now directly owns 127,178 shares in the company, valued at approximately $4,653,443.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of Newmont Mining Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $37.11, for a total transaction of $37,110.00. Following the sale, the insider now owns 334,730 shares of the company’s stock, valued at $12,421,830.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,707 shares of company stock valued at $1,120,866. Company insiders own 0.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Smith Affiliated Capital Corp. lifted its stake in shares of Newmont Mining Corporation by 8.6% in the 2nd quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 300 shares during the period. Sun Life Financial INC lifted its stake in shares of Newmont Mining Corporation by 43,144.4% in the 2nd quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 3,883 shares during the period. Brighton Jones LLC acquired a new position in shares of Newmont Mining Corporation in the 1st quarter valued at $258,000. Banced Corp lifted its stake in shares of Newmont Mining Corporation by 15.3% in the 2nd quarter. Banced Corp now owns 8,473 shares of the basic materials company’s stock valued at $274,000 after purchasing an additional 1,126 shares during the period. Finally, Veritable L.P. lifted its stake in shares of Newmont Mining Corporation by 4.6% in the 2nd quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock valued at $274,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 81.07% of the company’s stock.

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.

Analyst Recommendations for Newmont Mining Corporation (NYSE:NEM)

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