Raymond James Cuts Newmont Mining (NEM) Price Target to $44.00

Newmont Mining (NYSE:NEM) had its price target cut by Raymond James from $45.00 to $44.00 in a report published on Friday. They currently have an outperform rating on the basic materials company’s stock.

A number of other equities analysts have also recently commented on NEM. ValuEngine raised Newmont Mining from a hold rating to a buy rating in a report on Friday, June 29th. Canaccord Genuity set a $40.00 price target on Newmont Mining and gave the stock a hold rating in a report on Tuesday, July 24th. Citigroup lowered their price target on Newmont Mining from $42.00 to $36.00 and set a neutral rating for the company in a report on Wednesday, August 29th. JPMorgan Chase & Co. lowered their price target on Newmont Mining from $47.00 to $40.00 and set an overweight rating for the company in a report on Monday, September 17th. Finally, BMO Capital Markets reissued a buy rating and set a $46.00 price target on shares of Newmont Mining in a report on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $40.79.

Newmont Mining stock opened at $30.76 on Friday. The company has a quick ratio of 4.02, a current ratio of 4.70 and a debt-to-equity ratio of 0.36. Newmont Mining has a 52 week low of $29.06 and a 52 week high of $42.04. The firm has a market cap of $15.98 billion, a PE ratio of 21.07 and a beta of 0.24.



Newmont Mining (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Newmont Mining had a positive return on equity of 6.19% and a negative net margin of 2.63%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.80 billion. As a group, research analysts forecast that Newmont Mining will post 1.13 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Thursday, December 6th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, December 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.82%. Newmont Mining’s payout ratio is presently 38.36%.

In other Newmont Mining news, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $30.20, for a total value of $37,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nancy Buese sold 2,000 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $30.20, for a total value of $60,400.00. Following the completion of the transaction, the chief financial officer now directly owns 86,577 shares of the company’s stock, valued at approximately $2,614,625.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,500 shares of company stock valued at $675,763. Insiders own 0.36% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mount Yale Investment Advisors LLC bought a new stake in shares of Newmont Mining in the 1st quarter valued at about $115,000. Summit Trail Advisors LLC grew its position in shares of Newmont Mining by 4,127.4% in the 1st quarter. Summit Trail Advisors LLC now owns 127,624 shares of the basic materials company’s stock valued at $128,000 after buying an additional 124,605 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Newmont Mining in the 3rd quarter valued at about $226,000. Dupont Capital Management Corp grew its position in shares of Newmont Mining by 38.7% in the 2nd quarter. Dupont Capital Management Corp now owns 6,864 shares of the basic materials company’s stock valued at $259,000 after buying an additional 1,916 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Newmont Mining in the 2nd quarter valued at about $273,000. 82.88% of the stock is owned by institutional investors and hedge funds.

Newmont Mining Company Profile

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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Analyst Recommendations for Newmont Mining (NYSE:NEM)

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