Newmont Mining (NEM) Downgraded by TheStreet

Newmont Mining (NYSE:NEM) was downgraded by TheStreet from a “b-” rating to a “c” rating in a research report issued on Friday, November 17th.

NEM has been the subject of several other research reports. FBR & Co set a $40.00 price objective on Newmont Mining and gave the company a “hold” rating in a report on Tuesday, October 31st. BidaskClub upgraded Newmont Mining from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut Newmont Mining from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. TD Securities set a $42.00 price target on Newmont Mining and gave the stock a “hold” rating in a research report on Thursday, October 19th. Finally, Argus raised shares of Newmont Mining from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $42.74.

Shares of Newmont Mining (NEM) traded down $0.37 during mid-day trading on Friday, reaching $35.83. 5,797,417 shares of the company’s stock traded hands, compared to its average volume of 5,414,274. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.58 and a current ratio of 4.18. Newmont Mining has a 52 week low of $30.40 and a 52 week high of $39.63. The firm has a market cap of $19,648.12, a price-to-earnings ratio of 26.50 and a beta of 0.10.

Newmont Mining (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Newmont Mining had a net margin of 1.18% and a return on equity of 6.20%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. equities research analysts predict that Newmont Mining will post 1.44 earnings per share for the current fiscal year.

In other Newmont Mining news, COO Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock in a transaction on Friday, December 1st. The stock was sold at an average price of $36.98, for a total transaction of $46,225.00. Following the completion of the transaction, the chief operating officer now owns 85,612 shares in the company, valued at $3,165,931.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary J. Goldberg sold 1,000 shares of Newmont Mining stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $37.35, for a total value of $37,350.00. Following the completion of the sale, the insider now directly owns 334,730 shares of the company’s stock, valued at approximately $12,502,165.50. The disclosure for this sale can be found here. Insiders have sold a total of 27,700 shares of company stock worth $1,038,458 in the last three months. 0.32% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Smith Affiliated Capital Corp. grew its stake in Newmont Mining by 8.6% in the second quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 300 shares in the last quarter. Sun Life Financial INC boosted its holdings in Newmont Mining by 43,144.4% in the 2nd quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock worth $126,000 after buying an additional 3,883 shares during the last quarter. Tiedemann Wealth Management LLC boosted its holdings in Newmont Mining by 66.5% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 14,862 shares of the basic materials company’s stock worth $170,000 after buying an additional 5,938 shares during the last quarter. Parametrica Management Ltd acquired a new stake in Newmont Mining in the 3rd quarter worth about $222,000. Finally, Timber Hill LLC acquired a new stake in Newmont Mining in the 3rd quarter valued at approximately $260,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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Newmont Mining 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.

Analyst Recommendations for Newmont Mining (NYSE:NEM)

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