Newmont Mining (NYSE:NEM)‘s stock had its “buy” rating reiterated by equities research analysts at BMO Capital Markets in a research report issued on Friday. They presently have a $46.00 price target on the basic materials company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 46.26% from the stock’s current price.
A number of other brokerages also recently issued reports on NEM. ValuEngine downgraded shares of Newmont Mining from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. Citigroup cut their price target on shares of Newmont Mining from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, August 29th. JPMorgan Chase & Co. cut their price target on shares of Newmont Mining from $47.00 to $40.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley upgraded shares of Newmont Mining from an “equal weight” rating to an “overweight” rating in a report on Tuesday, June 12th. Finally, Canaccord Genuity set a $40.00 price target on shares of Newmont Mining and gave the company a “hold” rating in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.42.
Shares of NEM stock traded down $0.05 during mid-day trading on Friday, hitting $31.45. The stock had a trading volume of 333,180 shares, compared to its average volume of 5,133,811. Newmont Mining has a fifty-two week low of $29.16 and a fifty-two week high of $42.04. The stock has a market capitalization of $16.81 billion, a PE ratio of 21.56 and a beta of 0.18. 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 (NYSE:NEM) last released its earnings results on Thursday, July 26th. The basic materials company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business earned $0.46 EPS. The business’s revenue was down 11.4% on a year-over-year basis. equities analysts forecast that Newmont Mining will post 1.23 earnings per share for the current fiscal year.
In other news, COO Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $30.53, for a total transaction of $38,162.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the company’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $37.47, for a total value of $112,410.00. Following the completion of the transaction, the executive vice president now directly owns 111,831 shares of the company’s stock, valued at approximately $4,190,307.57. The disclosure for this sale can be found here. Insiders sold a total of 19,250 shares of company stock valued at $703,443 in the last quarter. Insiders own 0.36% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp boosted its position in shares of Newmont Mining by 27.7% during the 1st quarter. Van ECK Associates Corp now owns 30,087,822 shares of the basic materials company’s stock valued at $1,175,531,000 after purchasing an additional 6,532,988 shares in the last quarter. FMR LLC increased 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 acquiring an additional 2,598,995 shares during the last quarter. Key Square Capital Management LLC purchased a new stake in shares of Newmont Mining during the first quarter valued at approximately $46,858,000. Martingale Asset Management L P increased its position in shares of Newmont Mining by 206.5% during the second quarter. Martingale Asset Management L P now owns 1,029,350 shares of the basic materials company’s stock valued at $38,818,000 after acquiring an additional 693,456 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Newmont Mining during the second quarter valued at approximately $23,387,000. 82.62% of the stock is owned by institutional investors and hedge funds.
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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