Newmont Mining Corp. (NEM) Trading Up 2.8%
Newmont Mining Corp. (NYSE:NEM)’s share price was up 2.8% during mid-day 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 changing hands. The stock had previously closed at $38.24.
NEM has been the topic of a number of research reports. Vetr lowered Newmont Mining Corp. from a “strong-buy” rating to a “buy” rating and set a $38.21 price objective on the stock. in a research report on Monday, May 9th. Goldman Sachs Group Inc. upgraded Newmont Mining Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $23.30 to $36.00 in a research report on Wednesday, May 11th. Zacks Investment Research lowered Newmont Mining Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th. Sterne Agee CRT restated a “buy” rating on shares of Newmont Mining Corp. in a research report on Monday, May 16th. Finally, Jefferies Group lowered Newmont Mining Corp. from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $38.00 to $33.00 in a research report on Thursday, June 2nd. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of C$37.64.
The stock has a market cap of $21.50 billion and a price-to-earnings ratio of 547.57. The firm has a 50-day moving average price of $42.61 and a 200-day moving average price of $34.39.
Newmont Mining Corp. (NYSE:NEM) last released its earnings results on Wednesday, July 20th. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.14. The firm earned $2 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company earned $0.26 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, analysts anticipate that Newmont Mining Corp. will post $1.80 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.25%.
In other news, EVP William N. Macgowan sold 8,135 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of C$44.95, for a total transaction of C$365,668.25. Following the transaction, the executive vice president now directly 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 can be accessed through this link. Also, EVP E Randall Engel sold 8,700 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of C$42.55, for a total value of C$370,185.00. Following the transaction, 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.
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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