Analysts Set Newmont Mining Corp (NEM) PT at $39.31

Newmont Mining Corp (NYSE:NEM) has been assigned a consensus rating of “Buy” from the twenty-one research firms that are presently covering the company. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $39.58.

NEM has been the topic of several recent research reports. FBR & Co reaffirmed a “hold” rating on shares of Newmont Mining Corp in a research note on Thursday, February 23rd. Zacks Investment Research raised Newmont Mining Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, February 1st. Vetr raised Newmont Mining Corp from a “buy” rating to a “strong-buy” rating and set a $40.38 price target on the stock in a research note on Wednesday, February 22nd. Barclays PLC reduced their price target on Newmont Mining Corp from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, March 6th. Finally, Credit Suisse Group AG set a $47.00 price target on Newmont Mining Corp and gave the stock a “buy” rating in a research note on Saturday, March 4th.

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In other news, EVP Scott P. Lawson sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $35.83, for a total transaction of $53,745.00. Following the transaction, the executive vice president now directly owns 43,295 shares of the company’s stock, valued at $1,551,259.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William N. Macgowan sold 2,006 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $36.31, for a total value of $72,837.86. Following the transaction, the executive vice president now directly owns 91,462 shares in the company, valued at $3,320,985.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,257 shares of company stock worth $703,968. Corporate insiders own 0.22% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its position in shares of Newmont Mining Corp by 12.5% in the fourth quarter. Van ECK Associates Corp now owns 34,514,748 shares of the basic materials company’s stock worth $1,175,917,000 after buying an additional 3,839,014 shares during the last quarter. Janus Capital Management LLC increased its position in shares of Newmont Mining Corp by 38.1% in the fourth quarter. Janus Capital Management LLC now owns 8,854,814 shares of the basic materials company’s stock worth $301,684,000 after buying an additional 2,442,668 shares during the last quarter. Norges Bank acquired a new position in shares of Newmont Mining Corp during the fourth quarter worth about $65,028,000. AQR Capital Management LLC increased its position in shares of Newmont Mining Corp by 54.5% in the fourth quarter. AQR Capital Management LLC now owns 4,614,362 shares of the basic materials company’s stock worth $157,211,000 after buying an additional 1,627,943 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Newmont Mining Corp by 112.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,757,500 shares of the basic materials company’s stock worth $93,948,000 after buying an additional 1,458,200 shares during the last quarter. 82.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Newmont Mining Corp (NYSE:NEM) traded up 0.45% during mid-day trading on Monday, hitting $33.67. 6,496,153 shares of the stock traded hands. The stock’s market cap is $17.88 billion. Newmont Mining Corp has a 52 week low of $30.19 and a 52 week high of $46.07. The firm’s 50-day moving average is $33.66 and its 200-day moving average is $34.52.

Newmont Mining Corp (NYSE:NEM) last issued its quarterly earnings results on Tuesday, February 21st. The basic materials company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.06. The firm earned $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Newmont Mining Corp had a positive return on equity of 4.94% and a negative net margin of 6.99%. Newmont Mining Corp’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 earnings per share. On average, analysts forecast that Newmont Mining Corp will post $1.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 22nd. Stockholders of record on Thursday, June 8th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Tuesday, June 6th. Newmont Mining Corp’s payout ratio is currently -19.42%.

About Newmont Mining Corp

Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.

5 Day Chart for NYSE:NEM

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