Newmont Mining Corp (NEM) is Downgraded by Jefferies to Hold

Newmont Mining Corp (NEM) was Downgraded by Jefferies to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Jefferies advised their investors in a research report released on Jun 2, 2016.

Many Wall Street Analysts have commented on Newmont Mining Corp. Newmont Mining Corp was Upgraded by Goldman to ” Buy” on May 11, 2016. Company shares were Upgraded by RBC Capital Mkts on Apr 26, 2016 to ” Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $34 .Newmont Mining Corp was Downgraded by Standpoint Research to ” Hold” on Mar 18, 2016.

On the company’s financial health, Newmont Mining Corp reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.19. The company had revenue of $2032.00 million for the quarter, compared to analysts expectations of $1869.98 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.

Newmont Mining Corp opened for trading at $32.52 and hit $32.97 on the upside on Wednesday, eventually ending the session at $32.66, with a gain of 0.77% or 0.25 points. The heightened volatility saw the trading volume jump to 81,43,340 shares. Company has a market cap of $17,327 M.

Investors should note that on Apr 19, 2016, Newmont Mining Corp announced a cash dividend of $0.0250. The company’s management has announced Jun 7, 2016 as the ex-dividend date and fixed the record date on Jun 9, 2016. The payable date has been fixed on Jun 23, 2016.

In a different news, on May 5, 2015, Thomas P Mahoney (Vice President and Treasurer) sold 692 shares at $26.05 per share price. According to the SEC, on May 5, 2015, Stephen P Gottesfeld (EVP and General Counsel) sold 94 shares at $26.04 per share price. On Mar 20, 2015, Elaine J Dorward-king (EVP, S&ER and Comms) sold 716 shares at $22.91 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.

Newmont Mining Corp

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