Newmont Mining Corp. (NEM) Shares Gap Up to $39.43
Newmont Mining Corp. (NYSE:NEM) shares gapped up prior to trading on Friday . The stock had previously closed at $39.00, but opened at $39.43. Newmont Mining Corp. shares last traded at $40.24, with a volume of 4,981,412 shares.
Several brokerages recently issued reports on NEM. Vetr lowered shares of Newmont Mining Corp. from a “strong-buy” rating to a “buy” rating and set a $38.21 price target for the company. in a research report on Monday, May 9th. Goldman Sachs Group Inc. upgraded shares of Newmont Mining Corp. from a “neutral” rating to a “buy” rating and upped their target price for the stock from $23.30 to $36.00 in a research report on Wednesday, May 11th. Sterne Agee CRT restated a “buy” rating on shares of Newmont Mining Corp. in a research report on Monday, May 16th. Zacks Investment Research upgraded shares of Newmont Mining Corp. from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Wednesday, May 18th. Finally, Deutsche Bank AG restated a “buy” rating and set a $44.00 target price (up previously from $38.00) on shares of Newmont Mining Corp. in a research report on Wednesday, July 6th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Newmont Mining Corp. currently has an average rating of “Buy” and an average price target of C$37.64.
The company’s 50-day moving average is $42.61 and its 200 day moving average is $34.39. The company has a market capitalization of $21.50 billion and a PE ratio of 547.57.
Newmont Mining Corp. (NYSE:NEM) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.14. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Newmont Mining Corp.’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that Newmont Mining Corp. will post $1.80 earnings per share for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date is Tuesday, September 13th. This represents a $0.10 dividend on an annualized basis and a yield of 0.25%.
In other news, EVP E Randall Engel sold 8,700 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of C$42.55, for a total value of C$370,185.00. Following the sale, the executive vice president now owns 219,389 shares of the company’s stock, valued at approximately C$9,335,001.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William N. Macgowan sold 8,135 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of C$44.95, for a total value of C$365,668.25. Following the completion of the sale, the executive vice president now directly owns 98,779 shares in the company, valued at approximately C$4,440,116.05. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Newmont Mining Corp. stock. I.G. Investment Management LTD. boosted its position in shares of Newmont Mining Corp. (NYSE:NEM) by 84.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,302 shares of the company’s stock after buying an additional 113,402 shares during the period. I.G. Investment Management LTD.’s holdings in Newmont Mining Corp. were worth $4,467,000 at the end of the most recent reporting 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.