Newmont Mining Corp. (NEM) Trading 2.2% Higher
Newmont Mining Corp. (NYSE:NEM) shares traded up 2.2% during mid-day trading on Wednesday . The stock traded as high as $41.27 and last traded at $40.82, with a volume of 4,370,040 shares. The stock had previously closed at $39.96.
Several research analysts have issued reports on the stock. CIBC lifted their target price on shares of Newmont Mining Corp. from $28.50 to $34.00 in a report on Friday, April 8th. Zacks Investment Research raised shares of Newmont Mining Corp. from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Tuesday, March 22nd. Vetr cut shares of Newmont Mining Corp. from a “buy” rating to a “hold” rating and set a $36.05 target price for the company. in a report on Tuesday, May 17th. Sterne Agee CRT reaffirmed a “buy” rating on shares of Newmont Mining Corp. in a report on Monday, May 16th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $44.00 price objective (up from $38.00) on shares of Newmont Mining Corp. in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Newmont Mining Corp. currently has an average rating of “Buy” and an average price target of C$31.30.
The company has a market capitalization of $21.69 billion and a PE ratio of 240.47. The firm has a 50-day moving average price of $36.26 and a 200 day moving average price of $28.59.
Newmont Mining Corp. (NYSE:NEM) last released its earnings results on Wednesday, April 20th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. The company earned $2.03 billion during the quarter, compared to analyst estimates of $1.86 billion. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.46 earnings per share. Equities research analysts expect that Newmont Mining Corp. will post $1.46 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 23rd. Investors of record on Thursday, June 9th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Tuesday, June 7th.
A number of institutional investors have bought and sold shares of the company. Mutual of America Capital Management LLC raised its position in Newmont Mining Corp. by 0.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 59,018 shares of the company’s stock worth $1,062,000 after buying an additional 307 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Newmont Mining Corp. by 5.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 69,933 shares of the company’s stock worth $1,258,000 after buying an additional 3,831 shares in the last quarter. Afam Capital Inc. raised its position in Newmont Mining Corp. by 2.0% in the fourth quarter. Afam Capital Inc. now owns 70,854 shares of the company’s stock worth $1,275,000 after buying an additional 1,376 shares in the last quarter. Twin Capital Management Inc. raised its position in Newmont Mining Corp. by 2.7% in the fourth quarter. Twin Capital Management Inc. now owns 85,770 shares of the company’s stock worth $1,543,000 after buying an additional 2,260 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new position in Newmont Mining Corp. during the fourth quarter worth about $2,170,000.
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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