Newmont Mining Corp. (NEM) Shares Down 3.5%
Newmont Mining Corp. (NYSE:NEM) fell 3.5% during trading on Tuesday . The company traded as low as $39.46 and last traded at $39.49, with a volume of 3,118,281 shares traded. The stock had previously closed at $40.91.
A number of research analysts have commented on the company. Vetr upgraded Newmont Mining Corp. from a “buy” rating to a “strong-buy” rating and set a $47.47 price objective on the stock in a research report on Wednesday, August 24th. Zacks Investment Research lowered Newmont Mining Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Citigroup Inc. reiterated a “buy” rating on shares of Newmont Mining Corp. in a research report on Thursday, August 18th. Morgan Stanley reiterated a “hold” rating and issued a $41.00 price objective on shares of Newmont Mining Corp. in a research report on Tuesday, August 16th. Finally, Barclays PLC increased their price objective on Newmont Mining Corp. from $38.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, August 8th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of C$36.87.
The firm’s 50-day moving average is $42.62 and its 200 day moving average is $34.35. The company has a market capitalization of $20.57 billion and a P/E ratio of 523.987.
Newmont Mining Corp. (NYSE:NEM) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.14. The business earned $2 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts expect that Newmont Mining Corp. will post $1.80 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.26%.
In other Newmont Mining Corp. news, EVP William N. Macgowan sold 8,135 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of C$44.95, for a total transaction of C$365,668.25. Following the sale, the executive vice president now owns 98,779 shares of the company’s stock, valued at C$4,440,116.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott P. Lawson sold 4,700 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of C$40.35, for a total transaction of C$189,645.00. Following the sale, the executive vice president now directly owns 46,295 shares in the company, valued at approximately C$1,868,003.25. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Newmont Mining Corp. stock. American International Group Inc. boosted its position in shares of Newmont Mining Corp. (NYSE:NEM) by 2.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 227,834 shares of the company’s stock after buying an additional 4,444 shares during the period. American International Group Inc.’s holdings in Newmont Mining Corp. were worth $4,098,000 as of its most recent SEC filing.
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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