Newmont Mining Corp (NEM) is Upgraded by BofA/Merrill to Buy

Newmont Mining Corp (NEM) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Nov 22, 2016.

Many Wall Street Analysts have commented on Newmont Mining Corp. Shares were Reiterated by FBR & Co. on Nov 10, 2016 to “Mkt Perform” and Lowered the Price Target to $ 39 from a previous price target of $40 .Newmont Mining Corp was Upgraded by JP Morgan to ” Overweight” on Nov 3, 2016. Barclays Upgraded Newmont Mining Corp on Oct 17, 2016 to ” Overweight”, Price Target of the shares are set at $45.

On the company’s financial health, Newmont Mining Corp reported $0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Oct 26, 2016. Analyst had a consensus of $0.49. The company had revenue of $2038.00 million for the quarter, compared to analysts expectations of $1896.62 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 $0.23 EPS.

Newmont Mining Corp closed down -0.01 points or -0.03% at $32.69 with 85,59,091 shares getting traded on Monday. Post opening the session at $32.51, the shares hit an intraday low of $32.25 and an intraday high of $33.34 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Investors should note that on Oct 26, 2016, Newmont Mining Corp announced a cash dividend of $0.0500. The company’s management has announced Dec 6, 2016 as the ex-dividend date and fixed the record date on Dec 8, 2016. The payable date has been fixed on Dec 29, 2016.

In a different news, on Nov 3, 2016, William N Macgowan (EVP, Human Resources) sold 2,006 shares at $37.53 per share price. According to the SEC, on Oct 27, 2016, Scott P Lawson (EVP & Chief Technology Officer) sold 1,500 shares at $35.99 per share price. On Jul 29, 2016, E Randall Engel (EVP, Strategic Development) sold 8,700 shares at $42.55 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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