Bank of America Corp. upgraded shares of Newmont Mining Corp. (NYSE:NEM) from a neutral rating to a buy rating in a research report sent to investors on Monday.

NEM has been the subject of a number of other reports. Citigroup Inc. reaffirmed a buy rating on shares of Newmont Mining Corp. in a research note on Thursday, August 18th. Mackie raised shares of Newmont Mining Corp. from a hold rating to a buy rating in a research note on Monday, October 31st. Vetr lowered shares of Newmont Mining Corp. from a strong-buy rating to a buy rating and set a $45.64 price objective for the company. in a research note on Wednesday, September 21st. Zacks Investment Research raised shares of Newmont Mining Corp. from a hold rating to a strong-buy rating and set a $44.00 price objective for the company in a research note on Tuesday, October 4th. Finally, JPMorgan Chase & Co. raised shares of Newmont Mining Corp. from a neutral rating to an overweight rating and set a $43.00 price objective for the company in a research note on Thursday, November 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $38.65.

Shares of Newmont Mining Corp. (NYSE:NEM) opened at 32.44 on Monday. Newmont Mining Corp. has a 12-month low of $16.05 and a 12-month high of $46.07. The stock’s market capitalization is $17.22 billion. The company has a 50-day moving average of $34.92 and a 200-day moving average of $37.93.

Newmont Mining Corp. (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.12. Newmont Mining Corp. had a negative net margin of 6.99% and a positive return on equity of 4.94%. The business earned $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company posted $0.23 earnings per share. Newmont Mining Corp.’s revenue was up 6.8% compared to the same quarter last year. Equities analysts expect that Newmont Mining Corp. will post $1.72 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Tuesday, December 6th. This is an increase from Newmont Mining Corp.’s previous quarterly dividend of $0.03. Newmont Mining Corp.’s dividend payout ratio (DPR) is -9.71%.

In other Newmont Mining Corp. news, EVP William N. Macgowan sold 2,006 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $37.53, for a total transaction of $75,285.18. Following the transaction, the executive vice president now owns 96,773 shares in the company, valued at $3,631,890.69. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Scott P. Lawson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $35.99, for a total value of $53,985.00. Following the transaction, the executive vice president now owns 44,795 shares in the company, valued at approximately $1,612,172.05. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. New York Life Trust Co. increased its stake in shares of Newmont Mining Corp. by 9.0% in the third quarter. New York Life Trust Co. now owns 2,707 shares of the company’s stock valued at $106,000 after buying an additional 224 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Newmont Mining Corp. during the third quarter valued at about $153,000. Tuttle Tactical Management LLC bought a new stake in shares of Newmont Mining Corp. during the third quarter valued at about $172,000. Smith Affiliated Capital Corp. increased its stake in shares of Newmont Mining Corp. by 194.1% in the second quarter. Smith Affiliated Capital Corp. now owns 5,000 shares of the company’s stock valued at $196,000 after buying an additional 3,300 shares during the last quarter. Finally, Sullivan Bruyette Speros & Blaney Inc. bought a new stake in shares of Newmont Mining Corp. during the second quarter valued at about $203,000. Institutional investors own 79.70% of the company’s stock.

Newmont Mining Corp. Company Profile

Newmont Mining Corporation is a global 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, Indonesia, Ghana and Suriname. Its segments are North America, South America, Asia Pacific and Africa.

5 Day Chart for NYSE:NEM

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