Newmont Mining (NYSE:NEM) had its price objective lifted by Raymond James from $44.00 to $46.00 in a report issued on Friday. The firm presently has an “outperform” rating on the basic materials company’s stock. Raymond James’ price objective suggests a potential upside of 43.66% from the stock’s current price.
Several other research analysts have also recently commented on the company. Jefferies Financial Group reissued a “hold” rating and set a $33.00 target price on shares of Newmont Mining in a research note on Monday, October 8th. Zacks Investment Research cut Newmont Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, October 8th. Barclays initiated coverage on Newmont Mining in a research note on Wednesday, October 10th. They set an “overweight” rating and a $34.00 target price for the company. TheStreet cut Newmont Mining from a “b-” rating to a “c” rating in a research note on Thursday, October 4th. Finally, JPMorgan Chase & Co. lowered their target price 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Newmont Mining has an average rating of “Hold” and an average price target of $41.33.
NEM opened at $32.02 on Friday. Newmont Mining has a 12 month low of $29.06 and a 12 month high of $42.04. The firm has a market cap of $17.27 billion, a P/E ratio of 24.19 and a beta of 0.22. The company has a quick ratio of 4.02, a current ratio of 4.70 and a debt-to-equity ratio of 0.36.
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 Thomson Reuters’ consensus estimate of $0.22 by $0.11. Newmont Mining had a positive return on equity of 6.19% and a negative net margin of 2.63%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.80 billion. As a group, research analysts forecast that Newmont Mining will post 1.22 EPS for the current fiscal year.
In other news, insider Gary J. Goldberg sold 4,000 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $30.20, for a total transaction of $120,800.00. Following the completion of the transaction, the insider now directly owns 138,533 shares of the company’s stock, valued at approximately $4,183,696.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $30.20, for a total value of $90,600.00. Following the transaction, the executive vice president now directly owns 102,831 shares of the company’s stock, valued at $3,105,496.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,750 shares of company stock valued at $670,690. Insiders own 0.36% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new position in shares of Newmont Mining during the 3rd quarter worth about $225,000. Levin Capital Strategies L.P. acquired a new position in shares of Newmont Mining during the 3rd quarter worth about $226,000. Dupont Capital Management Corp boosted its position in shares of Newmont Mining by 38.7% during the 2nd quarter. Dupont Capital Management Corp now owns 6,864 shares of the basic materials company’s stock worth $259,000 after acquiring an additional 1,916 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Newmont Mining during the 2nd quarter worth about $273,000. Finally, Fosun International Ltd purchased a new stake in shares of Newmont Mining in the 3rd quarter valued at about $276,000. 83.14% 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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