Today’s Price Action: Can Newmont Mining Corp’s Tomorrow Be Different? The Stock Increases Again

Today's Price Action: Can Newmont Mining Corp's Tomorrow Be Different? The Stock Increases Again

The stock of Newmont Mining Corp (NYSE:NEM) is a huge mover today! About 1.56 million shares traded hands. Newmont Mining Corp (NYSE:NEM) has risen 29.50% since March 9, 2016 and is uptrending. It has outperformed by 22.08% the S&P500.
The move comes after 9 months positive chart setup for the $17.86B company. It was reported on Oct, 12 by Barchart.com. We have $57.24 PT which if reached, will make NYSE:NEM worth $12.32 billion more.

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 $284.75 million for 15.68 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. The rating was initiated by BMO Capital Markets on Thursday, August 13 with “Outperform”. The rating was initiated by IBC on Friday, July 24 with “Outperform”. Morgan Stanley initiated the stock with “Equal-Weight” rating in Tuesday, August 9 report. The firm has “Hold” rating by Standpoint Research given on Friday, March 18. FBR Capital maintained the stock with “Mkt Perform” rating in Monday, December 7 report. The company was maintained on Wednesday, July 20 by FBR Capital. The rating was maintained by RBC Capital Markets on Friday, November 6 with “Outperform”. The stock of Newmont Mining Corp (NYSE:NEM) earned “Sector Perform” rating by RBC Capital Markets on Monday, March 7. The stock has “Buy” rating given by Goldman Sachs on Wednesday, May 11. The firm earned “Mkt Perform” rating on Tuesday, November 3 by FBR Capital.

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 worsened, 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.
The California-based Advisor Prns Limited Liability Corporation has invested 0.12% in Newmont Mining Corp (NYSE:NEM). Vsr Finance Service Inc accumulated 7,911 shares or 0.05% of the stock. Wfg Advisors L P last reported 641 shares in the company. Daiwa Secs holds 0.02% of its portfolio in Newmont Mining Corp (NYSE:NEM) for 78,800 shares. Moreover, Van Eck Associates Corp has 5.5% invested in Newmont Mining Corp (NYSE:NEM) for 27.44M shares. Moreover, Barclays Public Limited has 0.03% invested in Newmont Mining Corp (NYSE:NEM) for 528,426 shares. Chicago Equity Prns Lc holds 0.34% of its portfolio in Newmont Mining Corp (NYSE:NEM) for 300,520 shares. Tiaa Cref Invest Mngmt Limited Liability holds 2.54M shares or 0.08% of its portfolio. Malaga Cove Capital Limited Liability Com last reported 1.44% of its portfolio in the stock. Mutual Of America Limited Liability Company accumulated 0.05% or 61,783 shares. Horseman Cap Ltd has 18,000 shares for 0.15% of their US portfolio. Kornitzer Mgmt Ks reported 248,755 shares or 0.18% of all its holdings. Moreover, Legacy Cap Partners has 0.26% invested in Newmont Mining Corp (NYSE:NEM) for 10,500 shares. Old Mutual Customised Solutions (Proprietary) Limited has 0.09% invested in the company for 9,300 shares. Reilly Advsrs Limited Company holds 0% of its portfolio in Newmont Mining Corp (NYSE:NEM) for 100 shares.

Insider Transactions: Since July 26, 2016, the stock had 0 insider purchases, and 4 insider sales for $1.34 million net activity. On Tuesday, July 26 the insider Lawson Scott P sold $189,627. 8,135 shares were sold by MacGowan William N, worth $365,685. On Thursday, July 28 Engel E Randall sold $370,148 worth of the stock or 8,700 shares. 10,000 Newmont Mining Corp (NYSE:NEM) shares with value of $415,947 were sold by Gottesfeld Stephen P.

More important recent Newmont Mining Corp (NYSE:NEM) news were published by: Fool.com which released: “Has Newmont Mining Corp. Earned a Clean Bill of Health?” on October 11, 2016, also Fool.com published article titled: “3 Risks Threatening Newmont Mining Corp.’s Success”, Businesswire.com published: “Experienced Miner Andrew Woodley to Lead Newmont’s North America Business” on October 05, 2016. More interesting news about Newmont Mining Corp (NYSE:NEM) was released by: Fool.com and their article: “Mining Gold Stocks: Is Newmont Mining More Precious Than Its Competition?” with publication date: September 23, 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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