November 25, 2016 - By Pete Kolinski · 0 Comments
Newmont Mining Corp (NYSE:NEM) institutional sentiment increased to 0.86 in 2016 Q2. Its up 0.01, from 0.85 in 2016Q1. The ratio improved, as 233 investment managers started new or increased holdings, while 274 reduced and sold stakes in Newmont Mining Corp. The investment managers in our partner’s database reported: 361.11 million shares, up from 350.86 million shares in 2016Q1. Also, the number of investment managers holding Newmont Mining Corp in their top 10 holdings increased from 15 to 25 for an increase of 10. Sold All: 93 Reduced: 181 Increased: 151 New Position: 82.
Newmont Mining Corporation is a global mining company, which is focused on the production of and exploration for gold and copper. The company has a market cap of $16.07 billion. The Firm is primarily a gold producer with activities and/or assets in the United States, Australia, Peru, Indonesia, Ghana and Suriname. It currently has negative earnings. The Company’s divisions are North America, South America, Asia Pacific and Africa.
The stock increased 1.33% or $0.42 during the last trading session, hitting $31.92. About 3.50 million shares traded hands. Newmont Mining Corp (NYSE:NEM) has risen 0.86% since April 22, 2016 and is uptrending. It has underperformed by 4.54% the S&P500.
Analysts await Newmont Mining Corp (NYSE:NEM) to report earnings on February, 15. They expect $0.50 earnings per share, up 1,150.00% or $0.46 from last year’s $0.04 per share. NEM’s profit will be $251.72M for 15.96 P/E if the $0.50 EPS becomes a reality. After $0.51 actual earnings per share reported by Newmont Mining Corp for the previous quarter, Wall Street now forecasts -1.96% negative EPS growth.
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.”
Asa Gold & Precious Metals Ltd holds 12.85% of its portfolio in Newmont Mining Corp for 695,368 shares. D.C. Capital Advisors Ltd owns 450,000 shares or 10.3% of their US portfolio. Moreover, Foundation Resource Management Inc has 7.67% invested in the company for 1.05 million shares. The Maryland-based New Century Advisors Llc has invested 6.6% in the stock. Cheviot Value Management Llc, a California-based fund reported 254,036 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 6 insider sales for $1.47 million net activity.
Ratings analysis reveals 60% of Newmont Mining Corporation’s analysts are positive. Out of 20 Wall Street analysts rating Newmont Mining Corporation, 12 give it “Buy”, 0 “Sell” rating, while 8 recommend “Hold”. The lowest target is $16 while the high is $45. The stock’s average target of $31.51 is -1.28% below today’s ($31.92) share price. NEM was included in 52 notes of analysts from July 24, 2015. The firm has “Mkt Perform” rating by FBR Capital given on Thursday, November 10. The rating was downgraded by RBC Capital Markets to “Sector Perform” on Thursday, January 7. The rating was initiated by Morgan Stanley with “Equal-Weight” on Tuesday, August 9. Clarkson Platou downgraded the stock to “Neutral” rating in Monday, April 18 report. The stock of Newmont Mining Corp (NYSE:NEM) earned “Buy” rating by Clarkson Capital on Tuesday, February 16. The firm earned “Outperform” rating on Monday, August 31 by Howard Weil. On Friday, March 18 the stock rating was downgraded by Standpoint Research to “Hold”. The firm earned “Hold” rating on Thursday, July 14 by Jefferies. UBS maintained Newmont Mining Corp (NYSE:NEM) on Wednesday, September 30 with “Neutral” rating. The company was upgraded on Tuesday, November 22 by Bank of America.
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.
More recent Newmont Mining Corp (NYSE:NEM) news were published by: Business.Financialpost.com which released: “Newmont Mining Corp upgraded as ‘less complicated company'” on November 03, 2016. Also Nasdaq.com published the news titled: “Agree To Purchase Newmont Mining At $20, Earn 10.8% Using Options” on November 23, 2016. Schaeffersresearch.com‘s news article titled: “Barrick Gold Corporation, Newmont Mining Corp Puts Hot as Dollar Strengthens” with publication date: November 18, 2016 was also an interesting one.
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By Pete Kolinski