FY2019 EPS Estimates for Newmont Mining Corp (NEM) Raised by Jefferies Financial Group

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Newmont Mining Corp (NYSE:NEM) – Analysts at Jefferies Financial Group increased their FY2019 earnings per share estimates for Newmont Mining in a research note issued to investors on Thursday, February 7th. Jefferies Financial Group analyst C. Lafemina now anticipates that the basic materials company will post earnings of $1.45 per share for the year, up from their previous estimate of $1.44. Jefferies Financial Group also issued estimates for Newmont Mining’s FY2020 earnings at $1.35 EPS.

NEM has been the topic of several other reports. ValuEngine lowered shares of Newmont Mining from a “buy” rating to a “hold” rating in a research report on Saturday, December 1st. Canaccord Genuity raised shares of Newmont Mining from a “hold” rating to a “buy” rating and upped their price target for the stock from $37.00 to $42.00 in a research report on Tuesday, January 15th. Zacks Investment Research raised shares of Newmont Mining from a “sell” rating to a “hold” rating in a research report on Wednesday, November 14th. Raymond James upped their price target on shares of Newmont Mining from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 9th. Finally, Credit Suisse Group set a $49.00 price target on shares of Newmont Mining and gave the stock a “buy” rating in a research report on Friday, November 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $41.50.

NYSE NEM opened at $33.73 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.02 and a current ratio of 4.70. Newmont Mining has a 1 year low of $29.06 and a 1 year high of $41.98. The firm has a market cap of $18.10 billion, a price-to-earnings ratio of 23.10 and a beta of 0.05.

In other Newmont Mining news, insider Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $32.88, for a total value of $41,100.00. Following the transaction, the insider now directly owns 129,110 shares in the company, valued at $4,245,136.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Nancy Buese sold 2,000 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $32.88, for a total transaction of $65,760.00. Following the completion of the transaction, the chief financial officer now owns 36,379 shares in the company, valued at $1,196,141.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,750 shares of company stock worth $1,113,450. Corporate insiders own 0.36% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in Newmont Mining by 54.1% in the second quarter. FMR LLC now owns 7,404,467 shares of the basic materials company’s stock valued at $279,222,000 after purchasing an additional 2,598,995 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Newmont Mining by 245.0% in the second quarter. Advisors Asset Management Inc. now owns 12,394 shares of the basic materials company’s stock worth $467,000 after acquiring an additional 8,802 shares during the last quarter. DNB Asset Management AS lifted its holdings in shares of Newmont Mining by 72.7% in the third quarter. DNB Asset Management AS now owns 128,527 shares of the basic materials company’s stock worth $3,882,000 after acquiring an additional 54,100 shares during the last quarter. Hexavest Inc. lifted its holdings in shares of Newmont Mining by 11.5% in the third quarter. Hexavest Inc. now owns 385,206 shares of the basic materials company’s stock worth $11,633,000 after acquiring an additional 39,778 shares during the last quarter. Finally, PGGM Investments raised its holdings in Newmont Mining by 55.5% in the 3rd quarter. PGGM Investments now owns 943,360 shares of the basic materials company’s stock valued at $28,489,000 after buying an additional 336,860 shares during the last quarter. Hedge funds and other institutional investors own 83.80% of the company’s stock.

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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Earnings History and Estimates for Newmont Mining (NYSE:NEM)

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