Newmont Mining Corporation (NEM) Given “Buy” Rating at Credit Suisse Group
Newmont Mining Corporation (NYSE:NEM)‘s stock had its “buy” rating restated by equities research analysts at Credit Suisse Group in a report released on Wednesday. They currently have a $47.00 target price on the basic materials company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 36.31% from the company’s previous close.
A number of other research firms have also recently weighed in on NEM. BMO Capital Markets upped their price target on Newmont Mining Corporation to $54.00 and gave the stock a “buy” rating in a report on Thursday, May 11th. Royal Bank Of Canada set a $40.00 price target on Newmont Mining Corporation and gave the stock a “hold” rating in a report on Monday. TD Securities restated a “hold” rating and issued a $48.50 price target on shares of Newmont Mining Corporation in a report on Tuesday, April 25th. Jefferies Group LLC set a $37.00 price target on Newmont Mining Corporation and gave the stock a “hold” rating in a report on Friday, May 19th. Finally, FBR & Co restated a “hold” rating on shares of Newmont Mining Corporation in a report on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.60.
Newmont Mining Corporation (NYSE NEM) traded up 0.44% during mid-day trading on Wednesday, reaching $34.63. The company had a trading volume of 1,902,231 shares. The company’s market capitalization is $18.47 billion. The firm’s 50 day moving average price is $33.64 and its 200-day moving average price is $34.14. Newmont Mining Corporation has a 12 month low of $30.19 and a 12 month high of $46.07.
Newmont Mining Corporation (NYSE:NEM) last released its earnings results on Monday, April 24th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.03. Newmont Mining Corporation had a positive return on equity of 6.24% and a negative net margin of 8.70%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. Equities research analysts anticipate that Newmont Mining Corporation will post $1.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 22nd. Investors of record on Thursday, June 8th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Tuesday, June 6th. Newmont Mining Corporation’s payout ratio is currently -16.81%.
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In other Newmont Mining Corporation news, EVP E Randall Engel sold 5,700 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $35.00, for a total transaction of $199,500.00. Following the transaction, the executive vice president now owns 256,800 shares of the company’s stock, valued at approximately $8,988,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $33.67, for a total value of $33,670.00. Following the transaction, the insider now directly owns 334,730 shares in the company, valued at approximately $11,270,359.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,200 shares of company stock worth $316,770. 0.32% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Newmont Mining Corporation by 55.8% in the first quarter. Bank of New York Mellon Corp now owns 9,135,286 shares of the basic materials company’s stock worth $301,099,000 after buying an additional 3,273,420 shares in the last quarter. Flossbach Von Storch AG raised its position in shares of Newmont Mining Corporation by 81.7% in the first quarter. Flossbach Von Storch AG now owns 6,092,593 shares of the basic materials company’s stock worth $200,812,000 after buying an additional 2,739,440 shares in the last quarter. Janus Capital Management LLC raised its position in shares of Newmont Mining Corporation 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 in the last quarter. Norges Bank acquired a new position in shares of Newmont Mining Corporation during the fourth quarter worth $65,028,000. Finally, Vanguard Group Inc. raised its position in shares of Newmont Mining Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock worth $1,744,405,000 after buying an additional 1,671,897 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.
About Newmont Mining Corporation
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.
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