Newmont Mining Corp. Announces 114% Increase In Q4 Earnings

Other hedge funds also recently added to or reduced their stakes in the company.

Newmont Mining Corporation (NYSE:NEM) traded at an unexpectedly low level on 02/21/2017 when the stock experienced a 1.16 loss to a closing price of $37.44. Emerald Acquisition Ltd. now owns 540,144 shares of the company's stock worth $21,222,000 after buying an additional 122,063 shares during the last quarter. The mean revenue estimate for the current fiscal period ending March 2017 is $2.94B by 34 brokerage firms. Cohen & Steers Inc. now owns 4,279,959 shares of the company's stock worth $80,121,000 after buying an additional 4,235,096 shares in the last quarter. The stock presently has a consensus rating of "Buy" and an average target price of $40.62.

This is an increase over the company's revenue of $1.45 billion in the fourth quarter of 2015.

This is an increase over its losses per share of 3 cents from the same time a year ago.

Here are a few things to know about Newmont Mining Corp's earnings report for the fourth quarter of the year. Corporate insiders own 0.22% of the company's stock.

In recent action, Newmont Mining Corporation (NEM) has made a move of +4.35% over the past month, which has come on weak relative transaction volume. The stock's 50 day moving average price is $35.88 and its 200 day moving average price is $36.86. The Stock now has the market capitalization of $19.94 Billion, P/E (price to earnings ttm) of 0 and Weekly volatility of 1.83% and monthly volatility of 2.18% respectively. Vetr upgraded shares of Newmont Mining Corporation from a "buy" rating to a "strong-buy" rating and set a $35.58 target price on the stock in a research note on Wednesday, December 14th. According to their observations and findings, the stock could provide a high EPS of $0.54/share and a Low EPS of $0.16/share. The ex-dividend date of this dividend is Tuesday, March 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%.

This piece was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another domain, it was stolen and republished in violation of USA & global trademark & copyright laws.

Newmont Mining Corporation (NYSE:NEM) reports its Earnings on Today. The reported earnings per share topped the analyst's consensus by $0.01 with the percentage difference between estimated and actual earnings arriving at 2.00%. The Closing price of Newmont Mining Corporation (NYSE:NEM) at Last Earnings was $36.13 as compared to the previous closing price of $37.57. Finally, Zacks Investment Research cut shares of Newmont Mining Corporation from a "buy" rating to a "hold" rating in a research note on Friday, November 4th. Scotiabank lowered Newmont Mining Corporation from an "outperform" rating to a "sector perform" rating and set a $42.00 price objective on the stock.in a research note on Tuesday, January 10th. Analysts believe that we could see stock price minimum in the $25 range (lowest target price), allowing for another -33.23% drop from its current position. Credit Suisse Group reiterated a "buy" rating and issued a $51.00 target price on shares of Newmont Mining Corporation in a research note on Tuesday, December 20th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. For the week, the shares have posted returns of -1.46%.A block trade registered during the day has revealed $0.5 million in upticks and $3.28 million in downticks. The company's shares were closed at $42.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Newmont Mining Corp also says it expects gold production to increase to between 4.9 and 5.4 million ounces in 2017.

  • Zachary Reyes