Newmont Mining Corp (NEM) was Upgraded by Barclays to ” Overweight” and the brokerage firm has set the Price Target at $45. Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on Oct 17, 2016.
Many Wall Street Analysts have commented on Newmont Mining Corp. Newmont Mining Corp was Initiated by Morgan Stanley to “Equal-Weight” on Aug 9, 2016. Company shares were Reiterated by Barclays on Aug 8, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 45 from a previous price target of $38 .Citigroup Initiated Newmont Mining Corp on Aug 2, 2016 to “Buy”, Price Target of the shares are set at $51.
On the company’s financial health, Newmont Mining Corp reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.30. The company had revenue of $2038.00 million for the quarter, compared to analysts expectations of $1898.09 million. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.
Newmont Mining Corp closed down -0.58 points or -1.67% at $34.23 with 48,75,268 shares getting traded on Friday. Post opening the session at $34.35, the shares hit an intraday low of $34.22 and an intraday high of $35.02 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Aug 8, 2016, William N Macgowan (EVP, Human Resources) sold 8,135 shares at $44.95 per share price. According to the SEC, on Jul 29, 2016, E Randall Engel (EVP, Strategic Development) sold 8,700 shares at $42.55 per share price. On Jul 29, 2016, Stephen P Gottesfeld (EVP and General Counsel) sold 10,000 shares at $41.60 per share price, according to the Form-4 filing with the securities and exchange commission.
Newmont Mining Corporation (Newmont) is a global 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 Indonesia Ghana New Zealand and Suriname. The Company’s business segments include North America South America Asia Pacific and Africa. The Company’s North America segment consists primarily of Carlin Phoenix CC&V and Twin Creeks in the state of Nevada 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. The Company’s product at its gold operations is dore bars. Dore is an alloy consisting primarily of gold as well as silver and other metals.