Traders Sell Newmont Mining (NEM) on Strength (NEM)

Investors sold shares of Newmont Mining Corp (NYSE:NEM) on strength during trading on Friday. $21.48 million flowed into the stock on the tick-up and $57.74 million flowed out of the stock on the tick-down, for a money net flow of $36.26 million out of the stock. Of all stocks tracked, Newmont Mining had the 33rd highest net out-flow for the day. Newmont Mining traded up $0.95 for the day and closed at $39.79

Several analysts have recently commented on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $43.00 target price on shares of Newmont Mining in a report on Wednesday, December 20th. Royal Bank of Canada reiterated a “hold” rating and issued a $43.00 target price on shares of Newmont Mining in a report on Tuesday, December 5th. Zacks Investment Research upgraded shares of Newmont Mining from a “hold” rating to a “strong-buy” rating and set a $43.00 target price for the company in a report on Tuesday, December 5th. TheStreet downgraded shares of Newmont Mining from a “b-” rating to a “c” rating in a report on Friday, November 17th. Finally, B. Riley reiterated a “neutral” rating on shares of Newmont Mining in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Newmont Mining has an average rating of “Buy” and a consensus target price of $42.64.

The stock has a market cap of $21,220.00, a PE ratio of 56.84 and a beta of 0.10. 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 (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.86 billion. Newmont Mining had a net margin of 1.18% and a return on equity of 6.20%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. analysts anticipate that Newmont Mining Corp will post 1.44 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Friday, December 8th were given a dividend of $0.075 per share. The ex-dividend date was Thursday, December 7th. This represents a $0.30 annualized dividend and a yield of 0.75%. Newmont Mining’s payout ratio is currently 42.86%.

In other Newmont Mining news, CEO Gary J. Goldberg sold 1,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $36.44, for a total transaction of $36,440.00. Following the completion of the transaction, the chief executive officer now owns 334,730 shares in the company, valued at $12,197,561.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $37.89, for a total transaction of $47,362.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,700 shares of company stock valued at $1,020,676. 0.32% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Timber Hill LLC bought a new position in Newmont Mining during the third quarter worth about $260,000. Deane Retirement Strategies Inc. bought a new position in Newmont Mining during the third quarter worth about $1,513,000. Commonwealth Bank of Australia boosted its position in Newmont Mining by 5.7% during the third quarter. Commonwealth Bank of Australia now owns 433,082 shares of the basic materials company’s stock worth $16,239,000 after purchasing an additional 23,286 shares during the period. Saratoga Research & Investment Management bought a new position in Newmont Mining during the third quarter worth about $382,000. Finally, Gabelli Funds LLC boosted its position in Newmont Mining by 3.7% during the third quarter. Gabelli Funds LLC now owns 2,731,471 shares of the basic materials company’s stock worth $102,457,000 after purchasing an additional 97,300 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

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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.

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