Newmont Mining (NEM) PT Raised to $46.00

Newmont Mining (NYSE:NEM) had its price objective upped by Raymond James from $44.00 to $46.00 in a research note issued to investors on Friday morning. The brokerage currently has an outperform rating on the basic materials company’s stock.

Several other equities research analysts also recently commented on the stock. Credit Suisse Group set a $49.00 price target on shares of Newmont Mining and gave the company a buy rating in a research report on Friday. TD Securities upped their price target on shares of Newmont Mining from $37.00 to $38.00 and gave the company a hold rating in a research report on Thursday, November 1st. Canaccord Genuity restated a hold rating and issued a $37.00 price target on shares of Newmont Mining in a research report on Monday, October 22nd. Barclays began coverage on shares of Newmont Mining in a research report on Wednesday, October 10th. They issued an overweight rating and a $34.00 price target for the company. Finally, Jefferies Financial Group restated a hold rating and issued a $33.00 price target on shares of Newmont Mining in a research report on Monday, October 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $41.33.

NEM stock traded down $0.40 on Friday, hitting $32.02. 4,082,801 shares of the company’s stock traded hands, compared to its average volume of 7,057,651. Newmont Mining has a 1-year low of $29.06 and a 1-year high of $42.04. The firm has a market cap of $17.31 billion, a PE ratio of 21.93 and a beta of 0.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.70 and a quick ratio of 4.02.

Newmont Mining (NYSE:NEM) last released its earnings results on Thursday, October 25th. The basic materials company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.80 billion. As a group, sell-side analysts expect that Newmont Mining will post 1.22 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Thursday, December 6th will be given a $0.14 dividend. The ex-dividend date is Wednesday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 1.75%. Newmont Mining’s dividend payout ratio (DPR) is presently 38.36%.

In other Newmont Mining news, CEO Gary J. Goldberg sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $31.51, for a total value of $126,040.00. Following the completion of the sale, the chief executive officer now owns 138,533 shares in the company, valued at approximately $4,365,174.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $31.51, for a total transaction of $39,387.50. Following the completion of the sale, the insider now owns 130,360 shares of the company’s stock, valued at approximately $4,107,643.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,750 shares of company stock valued at $670,690. Insiders own 0.36% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Dupont Capital Management Corp lifted its position in Newmont Mining by 38.7% in the 2nd quarter. Dupont Capital Management Corp now owns 6,864 shares of the basic materials company’s stock worth $259,000 after buying an additional 1,916 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Newmont Mining in the 2nd quarter worth approximately $273,000. Private Advisor Group LLC purchased a new stake in Newmont Mining in the 3rd quarter worth approximately $225,000. Levin Capital Strategies L.P. purchased a new stake in Newmont Mining in the 3rd quarter worth approximately $226,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Newmont Mining in the 2nd quarter worth approximately $335,000. Institutional investors own 83.14% of the company’s stock.

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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