Newmont Mining (NEM) Stock Price Up 5.3%

Newmont Mining Corp (NYSE:NEM) rose 5.3% during mid-day trading on Wednesday . The company traded as high as $39.31 and last traded at $39.00. Approximately 8,176,878 shares changed hands during trading, an increase of 42% from the average daily volume of 5,758,102 shares. The stock had previously closed at $37.02.

NEM has been the subject of a number of research analyst reports. Scotiabank set a $48.00 price objective on Newmont Mining and gave the stock a “buy” rating in a report on Monday, January 15th. BMO Capital Markets restated a “buy” rating and set a $43.00 price objective on shares of Newmont Mining in a report on Wednesday, December 20th. Zacks Investment Research upgraded Newmont Mining from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, October 18th. TheStreet cut Newmont Mining from a “b-” rating to a “c” rating in a report on Friday, November 17th. Finally, Deutsche Bank cut Newmont Mining from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $42.00 to $40.00 in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $41.80.

The company has a current ratio of 4.18, a quick ratio of 3.58 and a debt-to-equity ratio of 0.33. The stock has a market cap of $20,800.00, a P/E ratio of 55.71 and a beta of 0.24.

In related news, EVP E Randall Engel sold 5,700 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $40.23, for a total value of $229,311.00. Following the completion of the sale, the executive vice president now directly owns 239,700 shares in the company, valued at $9,643,131. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the business’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 completion of the sale, the executive vice president now owns 71,864 shares of the company’s stock, valued at $2,621,598.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,700 shares of company stock valued at $1,050,806. 0.32% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NEM. BlackRock Inc. raised its position in Newmont Mining by 6.1% during the fourth quarter. BlackRock Inc. now owns 77,637,045 shares of the basic materials company’s stock valued at $2,912,946,000 after purchasing an additional 4,440,876 shares in the last quarter. First Eagle Investment Management LLC raised its position in Newmont Mining by 159.2% during the third quarter. First Eagle Investment Management LLC now owns 4,207,739 shares of the basic materials company’s stock valued at $157,832,000 after purchasing an additional 2,584,318 shares in the last quarter. Alliancebernstein L.P. raised its position in Newmont Mining by 120.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,386,160 shares of the basic materials company’s stock valued at $89,529,000 after purchasing an additional 1,306,175 shares in the last quarter. Global Thematic Partners LLC raised its position in Newmont Mining by 44.2% during the fourth quarter. Global Thematic Partners LLC now owns 4,103,076 shares of the basic materials company’s stock valued at $153,947,000 after purchasing an additional 1,258,566 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Newmont Mining during the third quarter valued at approximately $44,652,000. Institutional investors and hedge funds own 81.88% of the company’s stock.

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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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