Several analysts have recently updated their ratings and price targets for Newmont Mining (NYSE: NEM):

  • 11/16/2018 – Newmont Mining was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 11/14/2018 – Newmont Mining was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Newmont swung to loss in third-quarter 2018. Adjusted earnings beat the Zacks Consensus Estimate while sales trailed the same. Newmont is making a 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. However, Newmont faces headwinds from high production costs on year over year comparison basis. The company is also exposed to a highly volatile gold price environment. Lack of growth in the company’s gold reserves is another concern. Moreover, the company’s shares have underperformed the industry it belongs to, in the past six months.”
  • 11/9/2018 – Newmont Mining had its price target raised by analysts at Raymond James from $44.00 to $46.00. They now have an “outperform” rating on the stock.
  • 11/9/2018 – Newmont Mining was given a new $49.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock.
  • 11/1/2018 – Newmont Mining had its price target raised by analysts at TD Securities from $37.00 to $38.00. They now have a “hold” rating on the stock.
  • 10/26/2018 – Newmont Mining had its price target lowered by analysts at Raymond James from $45.00 to $44.00. They now have an “outperform” rating on the stock.
  • 10/22/2018 – Newmont Mining had its “hold” rating reaffirmed by analysts at Canaccord Genuity. They now have a $37.00 price target on the stock.
  • 10/10/2018 – Newmont Mining is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $34.00 price target on the stock.
  • 10/8/2018 – Newmont Mining was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Estimates for Newmont for the third quarter and full year have gone down lately. Newmont faces headwinds from high production costs. The company’s all-in sustaining costs rose year over year in the second quarter, mainly due to higher per unit costs applicable to sales, exploration costs and increased spending on advanced projects. The company is also exposed to a highly volatile gold price environment. Lack of growth in the company’s gold reserves is another concern. Moreover, the company’s shares have underperformed the industry it belongs to, in the past six months.”
  • 10/8/2018 – Newmont Mining had its “hold” rating reaffirmed by analysts at Jefferies Financial Group Inc. They now have a $33.00 price target on the stock.
  • 10/4/2018 – Newmont Mining was downgraded by analysts at TheStreet from a “b-” rating to a “c” rating.
  • 10/2/2018 – Newmont Mining was given a new $37.00 price target on by analysts at Deutsche Bank AG. They now have a “hold” rating on the stock.

Shares of NEM stock opened at $32.90 on Wednesday. The company has a quick ratio of 4.02, a current ratio of 4.70 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $17.47 billion, a P/E ratio of 22.53 and a beta of 0.22. Newmont Mining Corp has a fifty-two week low of $29.06 and a fifty-two week high of $42.04.

Newmont Mining (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. As a group, research analysts predict that Newmont Mining Corp will post 1.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Thursday, December 6th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 5th. Newmont Mining’s dividend payout ratio (DPR) is currently 38.36%.

In related news, EVP Elaine J. Dorward-King sold 3,000 shares of Newmont Mining stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $30.20, for a total value of $90,600.00. Following the completion of the transaction, the executive vice president now owns 102,831 shares in the company, valued at $3,105,496.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary J. Goldberg sold 4,000 shares of Newmont Mining stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $31.51, for a total transaction of $126,040.00. Following the completion of the transaction, the chief executive officer now owns 138,533 shares of the company’s stock, valued at approximately $4,365,174.83. The disclosure for this sale can be found here. Insiders sold 21,750 shares of company stock valued at $670,690 in the last 90 days. Company insiders own 0.36% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Flossbach Von Storch AG grew its holdings in Newmont Mining by 32.8% during the 3rd quarter. Flossbach Von Storch AG now owns 13,529,462 shares of the basic materials company’s stock worth $408,590,000 after acquiring an additional 3,339,775 shares in the last quarter. FMR LLC grew its holdings in Newmont Mining by 54.1% during the 2nd quarter. FMR LLC now owns 7,404,467 shares of the basic materials company’s stock worth $279,222,000 after acquiring an additional 2,598,995 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in Newmont Mining by 22.5% during the 3rd quarter. First Eagle Investment Management LLC now owns 11,705,007 shares of the basic materials company’s stock worth $353,491,000 after acquiring an additional 2,153,531 shares in the last quarter. Unigestion Holding SA acquired a new position in Newmont Mining during the 3rd quarter worth approximately $60,640,000. Finally, BlackRock Inc. grew its holdings in Newmont Mining by 1.8% during the 3rd quarter. BlackRock Inc. now owns 72,485,781 shares of the basic materials company’s stock worth $2,189,072,000 after acquiring an additional 1,288,890 shares in the last quarter. Hedge funds and other institutional investors own 85.48% of the company’s stock.

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.

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