Shares of Newmont Mining Corp. (NYSE:NEM) were down 3.5% during mid-day trading on Tuesday . The stock traded as low as $39.46 and last traded at $39.49, with a volume of 3,118,281 shares changing hands. The stock had previously closed at $40.91.

Several analysts have recently issued reports on NEM shares. Vetr lowered shares of Newmont Mining Corp. from a “strong-buy” rating to a “buy” rating and set a $38.21 target price on the stock. in a research report on Monday, May 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $45.00 target price on shares of Newmont Mining Corp. in a research report on Tuesday, July 5th. Zacks Investment Research upgraded shares of Newmont Mining Corp. from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, May 18th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Newmont Mining Corp. in a research report on Monday, June 27th. Finally, Morgan Stanley started coverage on shares of Newmont Mining Corp. in a research report on Tuesday, August 9th. They issued an “equal weight” rating and a $41.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$36.87.

The firm has a 50 day moving average of $42.74 and a 200 day moving average of $34.23. The firm has a market cap of $20.48 billion and a PE ratio of 521.62.

Newmont Mining Corp. (NYSE:NEM) last released its earnings results on Wednesday, July 20th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.14. The company earned $2 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business posted $0.26 earnings per share. Newmont Mining Corp.’s revenue was up 6.8% on a year-over-year basis. On average, analysts predict that Newmont Mining Corp. will post $1.80 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a $0.025 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.26%.

In related news, EVP William N. Macgowan sold 8,135 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of C$44.95, for a total value of C$365,668.25. Following the sale, the executive vice president now directly owns 98,779 shares of the company’s stock, valued at C$4,440,116.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP E Randall Engel sold 8,700 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of C$42.55, for a total transaction of C$370,185.00. Following the completion of the sale, the executive vice president now directly owns 219,389 shares in the company, valued at C$9,335,001.95. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have bought and sold shares of NEM. Principal Financial Group Inc. raised its position in Newmont Mining Corp. by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 775,497 shares of the company’s stock valued at $13,952,000 after buying an additional 35,846 shares during the last quarter. I.G. Investment Management LTD. raised its position in Newmont Mining Corp. by 84.1% in the fourth quarter. I.G. Investment Management LTD. now owns 248,302 shares of the company’s stock valued at $4,467,000 after buying an additional 113,402 shares during the last quarter. Finally, American International Group Inc. raised its position in Newmont Mining Corp. by 2.0% in the fourth quarter. American International Group Inc. now owns 227,834 shares of the company’s stock valued at $4,098,000 after buying an additional 4,444 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.

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.