Newmont Mining Corp. (NEM) Shares Gap Up to $39.43
Newmont Mining Corp. (NYSE:NEM)’s share price 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 changing hands.
Several equities analysts recently issued reports on NEM shares. HSBC restated a “buy” rating on shares of Newmont Mining Corp. in a report on Thursday, July 7th. Citigroup Inc. restated a “buy” rating on shares of Newmont Mining Corp. in a report on Thursday, August 18th. Zacks Investment Research upgraded shares of Newmont Mining Corp. from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Monday, July 18th. Vetr upgraded shares of Newmont Mining Corp. from a “buy” rating to a “strong-buy” rating and set a $47.47 price objective on the stock in a report on Wednesday, August 24th. Finally, Barclays PLC upped their price objective on shares of Newmont Mining Corp. from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, August 8th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of C$37.64.
The firm’s 50-day moving average price is $42.55 and its 200-day moving average price is $34.43. The company has a market cap of $21.50 billion and a PE ratio of 547.57.
Newmont Mining Corp. (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.14. During the same period last year, the business earned $0.26 earnings per share. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.94 billion. The company’s revenue was up 6.8% on a year-over-year basis. On average, equities analysts anticipate that Newmont Mining Corp. will post $1.80 EPS for the current year.
The firm 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. 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 related news, EVP Scott P. Lawson sold 4,700 shares of Newmont Mining Corp. stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 46,295 shares of the company’s stock, valued at approximately C$1,868,003.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William N. Macgowan sold 8,135 shares of Newmont Mining Corp. stock in a transaction dated 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 transaction, the executive vice president now directly owns 98,779 shares of the company’s stock, valued at C$4,440,116.05. 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.