Shares of Newmont Mining Corp. (NYSE:NEM) dropped 0.7% on Friday . The stock traded as low as $40.21 and last traded at $40.69, with a volume of 4,900,262 shares traded. The stock had previously closed at $40.96.

NEM has been the subject of several recent research reports. Standpoint Research cut Newmont Mining Corp. from a “buy” rating to a “hold” rating in a report on Friday, March 18th. FBR & Co reissued a “hold” rating on shares of Newmont Mining Corp. in a report on Sunday, April 24th. Vetr cut Newmont Mining Corp. from a “strong-buy” rating to a “buy” rating and set a $38.21 price objective for the company. in a report on Monday, May 9th. BMO Capital Markets reissued an “outperform” rating and set a $45.00 price objective on shares of Newmont Mining Corp. in a report on Tuesday, July 5th. Finally, Barclays PLC boosted their price objective on Newmont Mining Corp. from $26.00 to $33.00 and gave the stock an “equal weight” rating in a report on Monday, April 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of C$31.30.

The stock has a market capitalization of $21.83 billion and a PE ratio of 242.00. The firm has a 50-day moving average price of $35.86 and a 200-day moving average price of $28.18.

Newmont Mining Corp. (NYSE:NEM) last posted its earnings results on Wednesday, April 20th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.20 by $0.14. The firm earned $2.03 billion during the quarter, compared to the consensus estimate of $1.86 billion. Newmont Mining Corp.’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, analysts expect that Newmont Mining Corp. will post $1.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 23rd. Stockholders of record on Thursday, June 9th were given a dividend of $0.025 per share. The ex-dividend date was Tuesday, June 7th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.24%.

Other institutional investors recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Newmont Mining Corp. by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 44,808,351 shares of the company’s stock worth $806,101,000 after buying an additional 1,216,989 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Newmont Mining Corp. by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,109,241 shares of the company’s stock worth $91,905,000 after buying an additional 135,768 shares during the period. New York State Common Retirement Fund increased its position in shares of Newmont Mining Corp. by 1.7% in the fourth quarter. New York State Common Retirement Fund now owns 1,225,700 shares of the company’s stock worth $22,050,000 after buying an additional 20,800 shares during the period. First Trust Advisors LP increased its position in shares of Newmont Mining Corp. by 21.4% in the fourth quarter. First Trust Advisors LP now owns 1,199,279 shares of the company’s stock worth $21,575,000 after buying an additional 211,011 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its position in shares of Newmont Mining Corp. by 111.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 1,130,816 shares of the company’s stock worth $20,343,000 after buying an additional 596,614 shares during the period.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.