Newmont (NYSE:NEM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Newmont (NYSE:NEM) from a hold rating to a buy rating in a research note released on Monday.

Several other brokerages also recently issued reports on NEM. Bernstein Bank upped their price objective on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Royal Bank of Canada boosted their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Raymond James lowered their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. CLSA initiated coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $53.37.

Newmont Stock Down 2.8 %

NEM opened at $44.05 on Monday. The stock has a market capitalization of $50.14 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. 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 has a one year low of $29.42 and a one year high of $58.72. The business’s 50-day simple moving average is $41.64 and its 200-day simple moving average is $46.42.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Analysts anticipate that Newmont will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

Insider Buying and Selling

In other news, Director Harry M. Iv Conger purchased 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. The trade was a 189.96 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock valued at $1,166,843 over the last quarter. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. AlphaCore Capital LLC lifted its position in shares of Newmont by 29.8% during the 4th quarter. AlphaCore Capital LLC now owns 5,962 shares of the basic materials company’s stock valued at $222,000 after buying an additional 1,370 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new position in Newmont in the 4th quarter worth approximately $6,250,000. Parr Mcknight Wealth Management Group LLC bought a new stake in Newmont during the 4th quarter valued at $397,000. Neo Ivy Capital Management lifted its position in shares of Newmont by 225.7% during the fourth quarter. Neo Ivy Capital Management now owns 13,263 shares of the basic materials company’s stock worth $493,000 after acquiring an additional 9,191 shares in the last quarter. Finally, GTS Securities LLC grew its holdings in Newmont by 104.5% during the 4th quarter. GTS Securities LLC now owns 7,173 shares of the basic materials company’s stock valued at $267,000 after buying an additional 164,988 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

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.