Morgan Stanley Initiates Coverage on Newmont Mining Corp to Equal-weight

Morgan Stanley Initiates Coverage on Newmont Mining Corp(NYSE:NEM). The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Aug 9, 2016.

In a different note, On Aug 8, 2016, Barclays said it Maintains its rating on Newmont Mining Corp. In the research note, the firm Raises the price-target to $38.00 per share. The shares have been rated ‘Equal-weight’ by the firm. Citigroup said it Initiates Coverage on Newmont Mining Corp, according to a research note issued on Aug 2, 2016. The shares have been rated ‘Buy’ by the firm. On Jul 14, 2016, Jefferies said it Maintains its rating on Newmont Mining Corp. In the research note, the firm Raises the price-target to $33.00 per share. The shares have been rated ‘Hold’ by the firm. On Jun 2, 2016, Jefferies said it Downgrades its rating on Newmont Mining Corp. In the research note, the firm Lowers the price-target to $38.00 per share. The shares have been rated ‘Hold’ by the firm.

Newmont Mining Corp (NEM) shares turned negative on Wednesdays trading session with the shares closing down -0.29 points or -0.65% at a volume of 84,98,587. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $44.35. The peak price level was also seen at $44.35 while the days lowest was $42.925. Finally the shares closed at $44. The 52-week high of the shares is $46.07 while the 52-week low is $15.39. According to the latest information available, the market cap of the company is $23,346 M.

Newmont Mining Corp has also declared a cash dividend of $0.0250 on Jul 20, 2016. The shares will quote ex-dividend on Sep 13, 2016 and the record date has been fixed on Sep 15, 2016. The dividend payable date has been fixed on Sep 29, 2016.

Newmont Mining Corp(NEM) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.04B. Analysts had an estimated revenue of $1.89B. Earnings per share were $0.44. Analysts had estimated an EPS of $0.28.

Several Insider Transactions has been reported to the SEC. On Aug 8, 2016, William N Macgowan (EVP, Human Resources) sold 8,135 shares at $44.95 per share price.Also, 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.

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