Newmont Mining Corporation Receives a Hold from RBC Capital

By Jason Carr

In a report released today, Stephen Walker from RBC Capital reiterated a Hold rating on Newmont Mining Corporation (NYSE: NEM), with a price target of $39. The company’s shares opened today at $33.97.

According to, Walker is a 3-star analyst with an average return of 1.8% and a 48.7% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Novagold Resources Inc New, and Hecla Mining Company.

Currently, the analyst consensus on Newmont Mining Corporation is Moderate Buy and the average price target is $40.33, representing a 18.7% upside.

In a report issued on May 19, Jefferies also reiterated a Hold rating on the stock with a $37 price target.

Based on Newmont Mining Corporation’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.66 billion and quarterly net profit of $46 million. In comparison, last year the company earned revenue of $2.03 billion and had a net profit of $52 million.

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Newmont Mining Corp. is a gold producer, which is engaged in the acquisition, exploration and production of gold and copper properties in U.S., Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico. The company’s operating segments include North America, South America, Asia Pacific and Africa. The North America segment consists of Nevada in the United States, La Herradura in Mexico and Hope Bay in Canada. The South America segment consists of Yanacocha and Conga in Peru. The Asia Pacific segment consists of Boddington in Australia, Batu Hijau in Indonesia and other smaller operations in Australia and New Zealand. The Africa segment consists of Ahafo and Akyem in Ghana. The company was founded by William Boyce Thompson on May 2, 1921 and is headquartered in Greenwood Village, CO.