Newmont Mining Corp. (NEM) Shares Up 2.8%
Newmont Mining Corp. (NYSE:NEM) shot up 2.8% during trading on Thursday . The stock traded as high as $39.36 and last traded at $39.32, with a volume of 3,634,767 shares trading hands. The stock had previously closed at $38.24.
Several research firms have recently commented on NEM. Morgan Stanley reaffirmed a “hold” rating and set a $41.00 price target on shares of Newmont Mining Corp. in a research report on Tuesday, August 16th. Barclays PLC upped their price target on shares of 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. Citigroup Inc. reaffirmed a “buy” rating on shares of Newmont Mining Corp. in a research report on Thursday, August 18th. Zacks Investment Research lowered shares of Newmont Mining Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $44.00 price target (up previously from $38.00) on shares of Newmont Mining Corp. in a research report on Wednesday, July 6th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of C$36.87.
The company has a market cap of $20.92 billion and a P/E ratio of 532.84. The firm’s 50 day moving average is $42.62 and its 200-day moving average is $34.35.
Newmont Mining Corp. (NYSE:NEM) last announced its quarterly earnings results 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. During the same quarter in the prior year, the business posted $0.26 earnings per share. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.94 billion. The firm’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts forecast that Newmont Mining Corp. will post $1.80 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Tuesday, September 13th.
In other news, EVP Stephen P. Gottesfeld sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of C$41.59, for a total value of C$415,900.00. Following the completion of the sale, the executive vice president now directly owns 122,857 shares in the company, valued at C$5,109,622.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott P. Lawson sold 4,700 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of C$40.35, for a total value of C$189,645.00. Following the completion of the sale, the executive vice president now owns 46,295 shares of the company’s stock, valued at 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. raised its position in shares of Newmont Mining Corp. (NYSE:NEM) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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.
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.