Newmont Co. (NYSE:NEM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Newmont Co. (NYSE:NEM) have earned an average rating of “Moderate Buy” from the seventeen brokerages that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $54.85.

A number of analysts recently commented on the stock. UBS Group boosted their target price on shares of Newmont from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Veritas raised Newmont to a “strong-buy” rating in a report on Monday, September 30th. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday. BMO Capital Markets boosted their target price on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group increased their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,000 shares of company stock worth $3,434,640 in the last three months. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Newmont by 13.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 139,631 shares of the basic materials company’s stock valued at $5,004,000 after purchasing an additional 16,902 shares during the last quarter. IVC Wealth Advisors LLC grew its holdings in Newmont by 14.5% in the 1st quarter. IVC Wealth Advisors LLC now owns 16,700 shares of the basic materials company’s stock valued at $599,000 after buying an additional 2,113 shares during the last quarter. JTC Employer Solutions Trustee Ltd increased its position in Newmont by 362.7% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 9,253 shares of the basic materials company’s stock worth $326,000 after buying an additional 7,253 shares during the period. Norden Group LLC bought a new position in Newmont in the 1st quarter worth approximately $1,431,000. Finally, Financial Sense Advisors Inc. lifted its holdings in shares of Newmont by 219.7% during the first quarter. Financial Sense Advisors Inc. now owns 133,096 shares of the basic materials company’s stock worth $4,770,000 after buying an additional 91,462 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM opened at $48.36 on Tuesday. Newmont has a 1 year low of $29.42 and a 1 year high of $58.72. The firm has a market cap of $55.06 billion, a P/E ratio of -31.82, a PEG ratio of 0.40 and a beta of 0.50. The stock has a fifty day moving average price of $53.33 and a two-hundred day moving average price of $46.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the business earned $0.36 EPS. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. Research analysts forecast that Newmont will post 3.13 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.