The stock of Newmont Mining Corp (NYSE:NEM) is a huge mover today! The stock decreased 3.03% or $1.19 during the last trading session, hitting $38.1. About 5.29M shares traded hands. Newmont Mining Corp (NYSE:NEM) has risen 50.06% since March 1, 2016 and is uptrending. It has outperformed by 37.84% the S&P500.
The move comes after 5 months negative chart setup for the $20.34 billion company. It was reported on Oct, 4 by Barchart.com. We have $36.20 PT which if reached, will make NYSE:NEM worth $1.02B less.
Analysts await Newmont Mining Corp (NYSE:NEM) to report earnings on October, 26. They expect $0.54 earnings per share, up 134.78% or $0.31 from last year’s $0.23 per share. NEM’s profit will be $288.28M for 17.64 P/E if the $0.54 EPS becomes a reality. After $0.44 actual earnings per share reported by Newmont Mining Corp for the previous quarter, Wall Street now forecasts 22.73% EPS growth.
Newmont Mining Corp (NYSE:NEM) Ratings Coverage
Out of 19 analysts covering Newmont Mining Corporation (NYSE:NEM), 9 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 47% are positive. Newmont Mining Corporation has been the topic of 47 analyst reports since July 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Newmont Mining Corp (NYSE:NEM) rating on Friday, November 6. RBC Capital Markets has “Outperform” rating and $26 price target. The stock of Newmont Mining Corp (NYSE:NEM) earned “Sector Perform” rating by RBC Capital Markets on Monday, March 7. RBC Capital Markets downgraded Newmont Mining Corp (NYSE:NEM) rating on Thursday, January 7. RBC Capital Markets has “Sector Perform” rating and $20.0 price target. The firm earned “Neutral” rating on Wednesday, September 30 by UBS. The firm earned “Mkt Perform” rating on Friday, September 18 by FBR Capital. The firm has “Neutral” rating by Clarkson Platou given on Monday, April 18. The stock of Newmont Mining Corp (NYSE:NEM) has “Outperform” rating given on Tuesday, September 1 by Scotia Capital. The company was upgraded on Wednesday, January 27 by Bank of America. The stock has “Hold” rating given by HSBC on Monday, October 26. As per Monday, August 31, the company rating was upgraded by Howard Weil.
According to Zacks Investment Research, “Newmont Mining Corp. is engaged in the production of gold, the exploration for gold and the acquisition and development of gold properties worldwide. The company produces gold from mines in Nevada and California, and, outside of the United States, from operations in Peru, Indonesia, Mexico and Uzbekistan.”
Insitutional Activity: The institutional sentiment decreased to 0.85 in 2016 Q2. Its down 0.08, from 0.93 in 2016Q1. The ratio turned negative, as 93 funds sold all Newmont Mining Corp shares owned while 181 reduced positions. 82 funds bought stakes while 151 increased positions. They now own 361.11 million shares or 2.92% more from 350.86 million shares in 2016Q1.
Arrow Invest Lc holds 44,862 shares or 0.38% of its portfolio. First Allied Advisory Services Incorporated reported 9,834 shares or 0.02% of all its holdings. Arizona State Retirement owns 307,360 shares or 0.17% of their US portfolio. Da Davidson And Co, a Montana-based fund reported 11,798 shares. The North Carolina-based First Personal Services has invested 0.01% in Newmont Mining Corp (NYSE:NEM). Renaissance Technologies Ltd, a New York-based fund reported 473,000 shares. Creative Planning reported 6,791 shares or 0% of all its holdings. Horseman Limited has invested 0.15% of its portfolio in Newmont Mining Corp (NYSE:NEM). Orinda Asset Lc last reported 5,511 shares in the company. Legal General Group Public Ltd Company accumulated 3.06M shares or 0.13% of the stock. Spot Trading Ltd Liability has 127,840 shares for 0.09% of their US portfolio. Highbridge Cap Ltd Company accumulated 0.68% or 1.07 million shares. Herndon Mngmt Ltd Liability holds 49 shares or 0% of its portfolio. Spark Inv Limited Liability Co owns 14,100 shares or 0.05% of their US portfolio. Moors Cabot Inc last reported 0.1% of its portfolio in the stock.
Insider Transactions: Since July 26, 2016, the stock had 0 buys, and 4 insider sales for $1.34 million net activity. 8,700 shares were sold by Engel E Randall, worth $370,148. $189,627 worth of shares were sold by Lawson Scott P on Tuesday, July 26. Shares for $365,685 were sold by MacGowan William N on Thursday, August 4. $415,947 worth of Newmont Mining Corp (NYSE:NEM) shares were sold by Gottesfeld Stephen P.
More important recent Newmont Mining Corp (NYSE:NEM) news were published by: Fool.com which released: “3 Risks Threatening Newmont Mining Corp.’s Success” on September 16, 2016, also Forbes.com published article titled: “Ex-Dividend Reminder: Newmont Mining, Worthington Industries and Graphic …”, Fool.com published: “Mining Gold Stocks: Is Newmont Mining More Precious Than Its Competition?” on September 23, 2016. More interesting news about Newmont Mining Corp (NYSE:NEM) was released by: Foxbusiness.com and their article: “Digging Into Newmont Mining Corp.: A Strong Position Among Gold-Mining Stocks?” with publication date: September 13, 2016.
NEM Company Profile
Newmont Mining Corporation (Newmont), incorporated on December 06, 2001, is a global mining company, which is focused on the production of and exploration for gold and copper. The Firm is primarily a gold producer with activities and/or assets in the United States, Australia, Peru, Indonesia, Ghana and Suriname. The Company’s divisions are North America, South America, Asia Pacific and Africa. It has gold reserves of approximately 73.7 million ounces and an aggregate land position of approximately 20,000 square miles (over 52,000 square kilometers). It is also engaged in the production of copper, principally through Batu Hijau in Indonesia, Boddington in Australia and Phoenix in the United States. The Company’s North America segment consists primarily of Carlin, Phoenix and Twin Creeks in the state of Nevada, and Cripple Creek &Victor (CC&V) in the state of Colorado, in the United States. The Company’s South America segment consists primarily of Yanacocha in Peru. The Company’s Asia Pacific segment consists primarily of Boddington, Tanami and Kalgoorlie in Australia and Batu Hijau in Indonesia. The Company’s Africa segment consists primarily of Ahafo and Akyem in Ghana.
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