Newmont Mining Corp (NEM) Given Average Rating of “Hold” by Analysts

Shares of Newmont Mining Corp (NYSE:NEM) have received a consensus rating of “Hold” from the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $43.40.

Several brokerages have commented on NEM. ValuEngine lowered shares of Newmont Mining from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Canaccord Genuity set a $40.00 price target on shares of Newmont Mining and gave the company a “hold” rating in a research note on Tuesday, July 24th. Morgan Stanley upgraded shares of Newmont Mining from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, June 12th. Finally, TheStreet upgraded shares of Newmont Mining from a “c+” rating to a “b” rating in a research note on Thursday, April 26th.

Shares of NEM stock traded down $0.11 during trading hours on Tuesday, reaching $35.60. 3,536,837 shares of the stock were exchanged, compared to its average volume of 4,513,210. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.95 and a current ratio of 4.60. Newmont Mining has a 12-month low of $34.20 and a 12-month high of $42.04. The firm has a market capitalization of $19.05 billion, a price-to-earnings ratio of 24.38 and a beta of 0.21.

Newmont Mining (NYSE:NEM) last released its earnings results on Thursday, July 26th. The basic materials company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. Newmont Mining had a net margin of 2.23% and a return on equity of 6.17%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. equities analysts forecast that Newmont Mining will post 1.29 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Thursday, September 13th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Wednesday, September 12th. Newmont Mining’s payout ratio is currently 38.36%.

In related news, insider Gary J. Goldberg sold 4,000 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $38.88, for a total transaction of $155,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $38.88, for a total value of $48,600.00. The disclosure for this sale can be found here. Insiders sold 28,750 shares of company stock valued at $1,082,190 over the last three months. Corporate insiders own 0.36% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Natixis Advisors L.P. lifted its holdings in shares of Newmont Mining by 1.8% in the first quarter. Natixis Advisors L.P. now owns 74,775 shares of the basic materials company’s stock valued at $2,921,000 after buying an additional 1,295 shares during the period. Cabot Wealth Management Inc. lifted its holdings in shares of Newmont Mining by 0.8% in the second quarter. Cabot Wealth Management Inc. now owns 173,058 shares of the basic materials company’s stock valued at $6,526,000 after buying an additional 1,403 shares during the period. Knowledge Leaders Capital LLC lifted its holdings in shares of Newmont Mining by 1.1% in the second quarter. Knowledge Leaders Capital LLC now owns 130,901 shares of the basic materials company’s stock valued at $4,936,000 after buying an additional 1,411 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Newmont Mining by 1.7% in the second quarter. Oppenheimer & Co. Inc. now owns 90,897 shares of the basic materials company’s stock valued at $3,429,000 after buying an additional 1,485 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Newmont Mining by 1.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 148,300 shares of the basic materials company’s stock valued at $5,794,000 after buying an additional 1,600 shares during the period. 81.92% of the stock is owned by hedge funds and other 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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