Newmont Mining (NEM) Price Target Raised to $41.00 at Deutsche Bank

Newmont Mining (NYSE:NEM) had its price target upped by equities researchers at Deutsche Bank from $40.00 to $41.00 in a research note issued to investors on Wednesday, April 11th. The brokerage currently has a “hold” rating on the basic materials company’s stock. Deutsche Bank’s target price points to a potential downside of 0.85% from the company’s current price.

A number of other research firms have also commented on NEM. Scotiabank set a $48.00 price objective on shares of Newmont Mining and gave the company a “buy” rating in a research note on Monday, January 15th. Zacks Investment Research lowered shares of Newmont Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 19th. Bank of America raised their target price on shares of Newmont Mining from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Royal Bank of Canada restated a “sell” rating and set a $44.00 target price on shares of Newmont Mining in a report on Wednesday, April 4th. Finally, B. Riley raised their target price on shares of Newmont Mining from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $42.93.

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Shares of NYSE:NEM opened at $41.35 on Wednesday. Newmont Mining has a 52 week low of $31.42 and a 52 week high of $42.04. The company has a market capitalization of $22,059.19, a price-to-earnings ratio of 28.32 and a beta of 0.25. The company has a current ratio of 3.63, a quick ratio of 3.14 and a debt-to-equity ratio of 0.35.

Newmont Mining (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Newmont Mining had a negative net margin of 1.33% and a positive return on equity of 6.52%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the business earned $0.25 earnings per share. Newmont Mining’s revenue was up 8.2% compared to the same quarter last year. sell-side analysts predict that Newmont Mining will post 1.45 EPS for the current year.

In other Newmont Mining news, COO Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $40.23, for a total transaction of $50,287.50. Following the completion of the sale, the chief operating officer now owns 83,112 shares of the company’s stock, valued at approximately $3,343,595.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $40.23, for a total transaction of $40,230.00. Following the transaction, the insider now owns 156,096 shares in the company, valued at approximately $6,279,742.08. The disclosure for this sale can be found here. Insiders have sold a total of 23,450 shares of company stock valued at $919,544 in the last three months. Company insiders own 0.36% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Newmont Mining by 6.1% during the 4th quarter. BlackRock Inc. now owns 77,637,045 shares of the basic materials company’s stock valued at $2,912,946,000 after purchasing an additional 4,440,876 shares in the last quarter. Flossbach Von Storch AG raised its holdings in shares of Newmont Mining by 5.3% during the 4th quarter. Flossbach Von Storch AG now owns 8,500,271 shares of the basic materials company’s stock valued at $318,930,000 after purchasing an additional 428,150 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Newmont Mining by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 6,378,102 shares of the basic materials company’s stock valued at $238,856,000 after purchasing an additional 410,435 shares in the last quarter. Swiss National Bank raised its holdings in shares of Newmont Mining by 0.6% during the 4th quarter. Swiss National Bank now owns 4,751,032 shares of the basic materials company’s stock valued at $178,259,000 after purchasing an additional 27,900 shares in the last quarter. Finally, Global Thematic Partners LLC raised its holdings in shares of Newmont Mining by 44.2% during the 4th quarter. Global Thematic Partners LLC now owns 4,103,076 shares of the basic materials company’s stock valued at $153,947,000 after purchasing an additional 1,258,566 shares in the last quarter. Institutional investors and hedge funds own 82.24% of the company’s stock.

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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.

Analyst Recommendations for Newmont Mining (NYSE:NEM)

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