NEW YORK (TheStreet) -- Newmont Mining Corp. (NEM) had its 2015 earnings estimates lowered to $1.42 from $1.52 per share at Credit Suisse, with 2016 earnings estimates lowered to $1.18 per share from $1.21.
The firm reiterated coverage with a price target of $30 and an "outperform" rating.
Newmont Mining announced the acquisition of Cripple Creek & Victor on June 9 for $820 million which could add $254 million to NAV (Net Asset Value).
"We value the asset at $669 million and expect Newmont Mining to increase NAV for Cripple Creek & Victor within the next 18 months, given Newmont Mining's consistent operational track record," Credit Suisse analysts said.
Greenwood Village, Colo.-based Newmont Mining is primarily a gold producer with operations and assets in the U.S., Australia, Peru, Indonesia, Ghana, New Zealand and Mexico.
Shares of Newmont Mining are up 0.33% to $24.03 in early morning trading Tuesday.
Separately, TheStreet Ratings team rates NEWMONT MINING CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate NEWMONT MINING CORP (NEM) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."