Newmont Mining Corp. (NEM) Receives “Buy” Rating from Citigroup Inc.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Newmont Mining Corp. from a strong-buy rating to a hold rating in a research note on Monday, October 3rd. Vetr upgraded shares of Newmont Mining Corp. from a buy rating to a strong-buy rating and set a $47.47 target price for the company in a research note on Wednesday, August 24th. Barclays PLC lifted their target price on shares of Newmont Mining Corp. from $38.00 to $45.00 and gave the stock an equal weight rating in a research note on Monday, August 8th. Deutsche Bank AG reiterated a buy rating and issued a $44.00 target price (up previously from $38.00) on shares of Newmont Mining Corp. in a research note on Wednesday, July 6th. Finally, BMO Capital Markets reiterated an outperform rating and issued a $45.00 target price on shares of Newmont Mining Corp. in a research note on Tuesday, July 5th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Newmont Mining Corp. currently has a consensus rating of Buy and an average target price of C$37.47.
Shares of Newmont Mining Corp. (NYSE:NEM) traded up 1.48% during trading on Monday, reaching $35.55. 1,165,044 shares of the company traded hands. The firm’s 50-day moving average is $38.08 and its 200-day moving average is $37.08. Newmont Mining Corp. has a 12-month low of $16.05 and a 12-month high of $46.07. The stock has a market capitalization of $18.86 billion, a PE ratio of 480.41 and a beta of 0.25.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Tuesday, September 13th. Newmont Mining Corp.’s dividend payout ratio is presently 166.69%.
In related news, EVP Stephen P. Gottesfeld sold 10,000 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of C$41.59, for a total transaction of C$415,900.00. Following the sale, the executive vice president now directly owns 122,857 shares of the company’s stock, valued at approximately C$5,109,622.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Macgowan sold 8,135 shares of the 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 sale, the executive vice president now directly owns 98,779 shares in the company, valued at C$4,440,116.05. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Smith Affiliated Capital Corp. increased its stake in shares of Newmont Mining Corp. by 194.1% in the second quarter. Smith Affiliated Capital Corp. now owns 5,000 shares of the company’s stock valued at $196,000 after buying an additional 3,300 shares during the period. Advisor Partners LLC purchased a new stake in shares of Newmont Mining Corp. during the first quarter valued at approximately $203,000. Sullivan Bruyette Speros & Blaney Inc. purchased a new stake in shares of Newmont Mining Corp. during the second quarter valued at approximately $203,000. Cypress Capital Management LLC purchased a new stake in shares of Newmont Mining Corp. during the first quarter valued at approximately $205,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Newmont Mining Corp. during the first quarter valued at approximately $213,000. 79.78% of the stock is currently owned by institutional investors.
Newmont Mining Corp. Company Profile
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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