Zacks Investment Research upgraded shares of Newmont Mining (NYSE:NEM) from a hold rating to a buy rating in a research report report published on Friday morning. Zacks Investment Research currently has $41.00 target price on the basic materials company’s stock.

According to Zacks, “Newmont’s shares have outperformed the industry it belongs to in the past three months. The company is making notable progress with its growth projects. We are also impressed with its  efforts to reduce debt and improve efficiency. Moreover, the acquisition of CC&V represents a significant opportunity.”

A number of other equities research analysts have also recently commented on NEM. TD Securities set a $42.00 target price on Newmont Mining and gave the company a hold rating in a research report on Thursday, October 19th. FBR & Co set a $40.00 price objective on Newmont Mining and gave the stock a hold rating in a report on Tuesday, October 31st. B. Riley reiterated a neutral rating on shares of Newmont Mining in a report on Wednesday, November 1st. BMO Capital Markets set a $45.00 price objective on Newmont Mining and gave the stock a buy rating in a report on Tuesday, November 14th. Finally, TheStreet cut Newmont Mining from a b- rating to a c rating in a report on Friday, November 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $41.80.

Newmont Mining (NEM) traded up $0.15 during trading hours on Friday, hitting $36.76. The stock had a trading volume of 11,000,000 shares, compared to its average volume of 5,220,000. Newmont Mining has a 52-week low of $31.42 and a 52-week high of $42.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.18 and a quick ratio of 3.58. The firm has a market cap of $19,690.00, a PE ratio of 52.51 and a beta of 0.24.

In other Newmont Mining news, EVP Elaine J. Dorward-King sold 10,250 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $36.48, for a total value of $373,920.00. Following the transaction, the executive vice president now directly owns 71,864 shares of the company’s stock, valued at approximately $2,621,598.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $36.98, for a total transaction of $46,225.00. Following the completion of the transaction, the chief operating officer now directly owns 85,612 shares in the company, valued at $3,165,931.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,700 shares of company stock worth $1,050,806. 0.32% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. lifted its stake in Newmont Mining by 0.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 50,318 shares of the basic materials company’s stock worth $1,630,000 after purchasing an additional 353 shares in the last quarter. Afam Capital Inc. lifted its stake in Newmont Mining by 0.6% in the 2nd quarter. Afam Capital Inc. now owns 71,692 shares of the basic materials company’s stock worth $2,322,000 after purchasing an additional 419 shares in the last quarter. Sentry Investment Management LLC lifted its stake in Newmont Mining by 1.0% in the 2nd quarter. Sentry Investment Management LLC now owns 41,329 shares of the basic materials company’s stock worth $1,339,000 after purchasing an additional 428 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Newmont Mining by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 231,662 shares of the basic materials company’s stock worth $8,690,000 after purchasing an additional 1,389 shares in the last quarter. Finally, Nippon Life Insurance Co. lifted its stake in Newmont Mining by 5.7% in the 3rd quarter. Nippon Life Insurance Co. now owns 26,452 shares of the basic materials company’s stock worth $992,000 after purchasing an additional 1,418 shares in the last quarter. 81.97% of the stock is currently owned by institutional investors and hedge funds.

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About Newmont Mining

Newmont Mining Corporation is a 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, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.

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