Newmont Mining Corp. (NEM) Shares Gap Down to $39.43
Shares of Newmont Mining Corp. (NYSE:NEM) gapped down before the market opened on Monday . The stock had previously closed at $39.00, but opened at $39.43. Newmont Mining Corp. shares last traded at $40.52, with a volume of 8,111,800 shares changing hands.
A number of analysts have recently weighed in on NEM shares. Vetr upgraded 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 report on Wednesday, August 24th. Barclays PLC upped their target price on Newmont Mining Corp. from $38.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, August 8th. Zacks Investment Research downgraded Newmont Mining Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th. FBR & Co upped their target price on Newmont Mining Corp. from $31.00 to $39.00 and gave the company a “market perform” rating in a research report on Wednesday, July 20th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $44.00 target price (up from $38.00) on shares of Newmont Mining Corp. in a research report on Wednesday, July 6th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of C$37.64.
The company has a 50 day moving average of $42.55 and a 200-day moving average of $34.43. The firm has a market capitalization of $21.50 billion and a price-to-earnings 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, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.14. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business posted $0.26 EPS. Newmont Mining Corp.’s quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts forecast that Newmont Mining Corp. will post $1.80 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.25%. The ex-dividend date is Tuesday, September 13th.
In other Newmont Mining Corp. news, EVP Scott P. Lawson sold 4,700 shares of Newmont Mining Corp. stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of C$40.35, for a total transaction of C$189,645.00. Following the completion of the sale, the executive vice president now owns 46,295 shares of the company’s stock, valued at C$1,868,003.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Stephen P. Gottesfeld sold 10,000 shares of Newmont Mining Corp. stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of C$41.59, for a total value 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 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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