Traders Sell Shares of Newmont Mining Corp. (NEM) on Strength (NEM)
Traders sold shares of Newmont Mining Corp. (NYSE:NEM) on strength during trading hours on Thursday. $56.75 million flowed into the stock on the tick-up and $68.57 million flowed out of the stock on the tick-down, for a money net flow of $11.82 million out of the stock. Of all stocks tracked, Newmont Mining Corp. had the 0th highest net out-flow for the day. Newmont Mining Corp. traded up $1.23 for the day and closed at $40.52
Several research analysts have recently commented on the company. FBR & Co reiterated a “hold” rating on shares of Newmont Mining Corp. in a research note on Sunday, April 24th. Vetr upgraded Newmont Mining Corp. from a “hold” rating to a “buy” rating and set a $36.33 target price for the company in a research note on Tuesday, June 21st. Jefferies Group reiterated a “buy” rating on shares of Newmont Mining Corp. in a research note on Thursday, April 28th. HSBC reiterated a “buy” rating on shares of Newmont Mining Corp. in a research note on Thursday, July 7th. Finally, Zacks Investment Research upgraded Newmont Mining Corp. from a “strong sell” rating to a “hold” rating in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of C$33.30.
The stock has a market cap of $23.73 billion and a price-to-earnings ratio of 550.27. The firm has a 50 day moving average price of $38.13 and a 200 day moving average price of $29.68.
Newmont Mining Corp. (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.14. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.94 billion. Newmont Mining Corp.’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company posted $0.26 earnings per share. Equities research analysts forecast that Newmont Mining Corp. will post $1.67 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.24%. The ex-dividend date is Tuesday, September 13th.
A number of institutional investors have recently made changes to their positions in NEM. Vanguard Group Inc. raised 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 valued at $806,101,000 after buying an additional 1,216,989 shares during the period. Cornerstone Capital Management Holdings LLC. raised its position in 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 last quarter. Levin Capital Strategies L.P. bought a new position in Newmont Mining Corp. during the fourth quarter worth approximately $4,030,000. Robeco Institutional Asset Management B.V. raised its position in Newmont Mining Corp. by 82.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 355,999 shares of the company’s stock worth $6,404,000 after buying an additional 161,028 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in 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 last quarter.
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.
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