Newmont Mining (NYSE:NEM) has been given a $47.00 target price by equities researchers at Raymond James in a research note issued to investors on Tuesday. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Raymond James’ target price would suggest a potential upside of 36.83% from the company’s current price.
Other research analysts have also issued research reports about the stock. TheStreet upgraded shares of Newmont Mining from a “c” rating to a “b-” rating in a research note on Thursday, February 21st. Canaccord Genuity upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $37.00 to $42.00 in a research note on Tuesday, January 15th. Credit Suisse Group reiterated a “buy” rating on shares of Newmont Mining in a research note on Wednesday, January 16th. ValuEngine upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Finally, Zacks Investment Research upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, February 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $40.08.
Get Newmont Mining alerts:Shares of NYSE:NEM traded up $0.90 during trading hours on Tuesday, hitting $34.35. The company’s stock had a trading volume of 10,857,010 shares, compared to its average volume of 9,902,781. 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 quick ratio of 4.02 and a current ratio of 2.95. The firm has a market cap of $17.96 billion, a P/E ratio of 25.44 and a beta of 0.05.
Newmont Mining (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 21st. The basic materials company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.23 by $0.17. Newmont Mining had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business posted $0.39 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts predict that Newmont Mining will post 1.12 EPS for the current fiscal year.
In related news, EVP E Randall Engel sold 17,100 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $37.14, for a total value of $635,094.00. Following the completion of the transaction, the executive vice president now directly owns 236,847 shares in the company, valued at approximately $8,796,497.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stephen P. Gottesfeld sold 3,500 shares of the business’s 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 completion of the transaction, the executive vice president now owns 174,764 shares of the company’s stock, valued at $6,118,487.64. The disclosure for this sale can be found here. Insiders sold a total of 44,350 shares of company stock worth $1,576,609 over the last ninety days. Insiders own 0.36% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Archford Capital Strategies LLC lifted its stake in shares of Newmont Mining by 66.7% in the 4th quarter. Archford Capital Strategies LLC now owns 750 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 300 shares during the period. First Mercantile Trust Co. lifted its stake in shares of Newmont Mining by 70.2% in the 4th quarter. First Mercantile Trust Co. now owns 800 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 330 shares during the period. Bessemer Group Inc. lifted its stake in shares of Newmont Mining by 377.3% in the 4th quarter. Bessemer Group Inc. now owns 840 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 664 shares during the period. Berman Capital Advisors LLC acquired a new position in shares of Newmont Mining in the 4th quarter valued at $30,000. Finally, We Are One Seven LLC acquired a new position in shares of Newmont Mining in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 84.58% of the company’s stock.
About Newmont Mining
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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