Newmont Mining (NEM) Upgraded at Zacks Investment Research

Newmont Mining (NYSE:NEM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm presently has a $43.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 16.72% from the company’s previous close.

According to Zacks, “Annual estimates for Newmont have been going up of late. Newmont’s shares have outperformed the industry it belongs to in the past six months. Newmont continues to invest in growth projects that are expected to boost its production performance. It also remains committed to de-lever its balance sheet. Moreover, the acquisition of CC&V represents a significant opportunity for the company. Improved operational efficiency is also allowing it to generate positive free cash flow.”

Several other research firms also recently weighed in on NEM. Royal Bank Of Canada set a $41.00 price target on Newmont Mining and gave the stock a “hold” rating in a research report on Monday, August 28th. B. Riley reissued a “neutral” rating on shares of Newmont Mining in a research report on Wednesday, November 1st. BidaskClub downgraded Newmont Mining from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. BMO Capital Markets set a $40.00 price target on Newmont Mining and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Finally, TheStreet downgraded Newmont Mining from a “b-” rating to a “c” rating in a research report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $40.83.

Newmont Mining (NEM) traded down $0.35 during trading on Tuesday, reaching $36.84. The company’s stock had a trading volume of 3,777,300 shares, compared to its average volume of 5,410,184. The company has a quick ratio of 3.58, a current ratio of 4.18 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $19,834.78, a P/E ratio of 26.75 and a beta of 0.10. Newmont Mining has a one year low of $30.40 and a one year high of $39.63.

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

In other news, EVP Elaine J. Dorward-King sold 10,250 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $38.27, for a total transaction of $392,267.50. Following the sale, the executive vice president now owns 82,114 shares in the company, valued at $3,142,502.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP E Randall Engel sold 5,700 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total value of $207,708.00. Following the sale, the executive vice president now owns 122,178 shares in the company, valued at approximately $4,452,166.32. The disclosure for this sale can be found here. Insiders have sold 27,700 shares of company stock worth $1,038,458 in the last 90 days. Insiders own 0.32% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Suntrust Banks Inc. boosted its holdings in Newmont Mining by 0.5% in the second quarter. Suntrust Banks Inc. now owns 65,794 shares of the basic materials company’s stock valued at $2,130,000 after acquiring an additional 331 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Newmont Mining by 0.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 50,318 shares of the basic materials company’s stock valued at $1,630,000 after acquiring an additional 353 shares during the last quarter. Veritable L.P. boosted its holdings in Newmont Mining by 4.6% in the second quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock valued at $274,000 after acquiring an additional 370 shares during the last quarter. Afam Capital Inc. boosted its holdings in Newmont Mining by 0.6% in the second quarter. Afam Capital Inc. now owns 71,692 shares of the basic materials company’s stock valued at $2,322,000 after acquiring an additional 419 shares during the last quarter. Finally, Sentry Investment Management LLC boosted its holdings in Newmont Mining by 1.0% in the second quarter. Sentry Investment Management LLC now owns 41,329 shares of the basic materials company’s stock valued at $1,339,000 after acquiring an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 81.99% 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.

Analyst Recommendations for Newmont Mining (NYSE:NEM)

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