Raymond James Analysts Give Newmont Mining (NEM) a $47.00 Price Target

Raymond James set a $47.00 price target on Newmont Mining (NYSE:NEM) in a research note published on Tuesday morning. The brokerage currently has an outperform rating on the basic materials company’s stock.

Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Newmont Mining from a buy rating to a hold rating in a research report on Friday, March 1st. TheStreet raised shares of Newmont Mining from a c rating to a b- rating in a research report on Thursday, February 21st. Jefferies Financial Group reaffirmed a hold rating and set a $33.00 price objective on shares of Newmont Mining in a research report on Friday, February 22nd. ValuEngine downgraded shares of Newmont Mining from a buy rating to a hold rating in a research report on Monday, February 4th. Finally, Credit Suisse Group reaffirmed a buy rating on shares of Newmont Mining in a research report on Wednesday, January 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $40.08.

Shares of NEM stock opened at $33.42 on Tuesday. The company has a market cap of $18.33 billion, a PE ratio of 24.76 and a beta of 0.01. Newmont Mining has a 52 week low of $29.06 and a 52 week high of $41.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.95 and a quick ratio of 2.60.



Newmont Mining (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 21st. The basic materials company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.23 by $0.17. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.88 billion. Newmont Mining had a net margin of 4.70% and a return on equity of 6.19%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. On average, sell-side analysts expect that Newmont Mining will post 1.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Thursday, March 7th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.68%. The ex-dividend date is Wednesday, March 6th. Newmont Mining’s payout ratio is currently 41.48%.

In other Newmont Mining news, EVP Stephen P. Gottesfeld sold 3,500 shares of Newmont Mining stock in a transaction on Wednesday, December 26th. The shares were sold at an average price of $35.01, for a total transaction of $122,535.00. Following the transaction, the executive vice president now directly owns 174,764 shares of the company’s stock, valued at approximately $6,118,487.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $34.43, for a total transaction of $43,037.50. Following the transaction, the insider now directly owns 127,860 shares in the company, valued at $4,402,219.80. The disclosure for this sale can be found here. In the last three months, insiders sold 44,350 shares of company stock valued at $1,576,609. 0.36% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Newmont Mining by 9.2% during the 4th quarter. BlackRock Inc. now owns 79,175,130 shares of the basic materials company’s stock worth $2,743,419,000 after acquiring an additional 6,689,349 shares during the last quarter. Vanguard Group Inc boosted its holdings in Newmont Mining by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 57,312,640 shares of the basic materials company’s stock worth $1,730,842,000 after acquiring an additional 620,141 shares during the last quarter. Flossbach Von Storch AG boosted its holdings in Newmont Mining by 4.8% during the 4th quarter. Flossbach Von Storch AG now owns 14,181,862 shares of the basic materials company’s stock worth $491,402,000 after acquiring an additional 652,400 shares during the last quarter. First Eagle Investment Management LLC boosted 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 during the last quarter. Finally, FMR LLC boosted its holdings in Newmont Mining by 31.9% during the 3rd quarter. FMR LLC now owns 9,763,576 shares of the basic materials company’s stock worth $294,860,000 after acquiring an additional 2,359,109 shares during the last quarter. 86.26% of the stock is currently owned by hedge funds and other institutional investors.

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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