Newmont Mining Corporation (NYSE:NEM) – Equities research analysts at Jefferies Group lowered their FY2018 EPS estimates for Newmont Mining Corporation in a research report issued to clients and investors on Tuesday. Jefferies Group analyst C. Lafemina now expects that the basic materials company will earn $1.21 per share for the year, down from their previous estimate of $1.51. Jefferies Group currently has a “Hold” rating and a $35.00 target price on the stock.
NEM has been the subject of a number of other reports. Deutsche Bank AG reissued a “buy” rating and issued a $42.00 price target (down from $44.00) on shares of Newmont Mining Corporation in a research report on Sunday, June 25th. Scotiabank reissued a “sector perform” rating and issued a $58.00 price target on shares of Newmont Mining Corporation in a research report on Tuesday, April 25th. Credit Suisse Group set a $45.00 price target on Newmont Mining Corporation and gave the company a “buy” rating in a research report on Tuesday, July 18th. Royal Bank Of Canada reissued a “hold” rating and issued a $39.00 price target on shares of Newmont Mining Corporation in a research report on Tuesday, May 30th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $40.00 price target on shares of Newmont Mining Corporation in a research report on Friday, April 21st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $41.91.
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Newmont Mining Corporation (NYSE:NEM) traded up 1.70% during trading on Friday, hitting $37.06. 4,348,114 shares of the company traded hands. Newmont Mining Corporation has a 12-month low of $30.19 and a 12-month high of $46.07. The stock has a 50-day moving average price of $33.64 and a 200-day moving average price of $34.21. The firm’s market capitalization is $19.76 billion.
Newmont Mining Corporation (NYSE:NEM) last released its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.20. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the business earned $0.44 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be paid a dividend of $0.075 per share. This is an increase from Newmont Mining Corporation’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.30 annualized dividend and a dividend yield of 0.81%. Newmont Mining Corporation’s dividend payout ratio is presently -22.22%.
In other news, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $33.67, for a total transaction of $33,670.00. Following the completion of the transaction, the insider now owns 334,730 shares in the company, valued at approximately $11,270,359.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $39,750.00. Following the transaction, the chief operating officer now owns 91,862 shares of the company’s stock, valued at approximately $2,921,211.60. The disclosure for this sale can be found here. Insiders have sold a total of 13,950 shares of company stock valued at $468,670 in the last quarter. 0.32% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NEM. Advisory Services Network LLC purchased a new position in Newmont Mining Corporation during the first quarter valued at $118,000. WFG Advisors LP increased its position in Newmont Mining Corporation by 83.5% in the first quarter. WFG Advisors LP now owns 3,748 shares of the basic materials company’s stock valued at $124,000 after buying an additional 1,706 shares during the last quarter. Smith Affiliated Capital Corp. increased its position in Newmont Mining Corporation by 8.6% in the second quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock valued at $123,000 after buying an additional 300 shares during the last quarter. Acrospire Investment Management LLC increased its position in Newmont Mining Corporation by 88.5% in the first quarter. Acrospire Investment Management LLC now owns 4,900 shares of the basic materials company’s stock valued at $162,000 after buying an additional 2,300 shares during the last quarter. Finally, Private Capital Advisors Inc. purchased a new position in Newmont Mining Corporation during the first quarter valued at $202,000. Institutional investors own 81.65% of the company’s stock.
Newmont Mining Corporation Company Profile
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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