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

Shares of Newmont Co. (NYSE:NEM) have received a consensus rating of “Moderate Buy” from the nineteen analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $53.16.

NEM has been the topic of several analyst reports. Scotiabank dropped their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. National Bank Financial raised Newmont to a “hold” rating in a research report on Friday, March 21st. CLSA initiated coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. TD Securities dropped their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Finally, StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th.

Newmont Stock Performance

Shares of NEM stock opened at $48.38 on Friday. The company’s fifty day simple moving average is $44.65 and its 200-day simple moving average is $45.52. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont has a 52 week low of $35.37 and a 52 week high of $58.72. The company has a market cap of $54.53 billion, a PE ratio of 16.51, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, equities research analysts anticipate that Newmont will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is 34.13%.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,231 shares of company stock worth $1,388,758. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Newmont

Large investors have recently bought and sold shares of the stock. HighPoint Advisor Group LLC lifted its stake in shares of Newmont by 3.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 219 shares during the period. Confluence Investment Management LLC lifted its position in Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock worth $439,000 after purchasing an additional 281 shares during the period. Keel Point LLC boosted its stake in Newmont by 2.0% during the 4th quarter. Keel Point LLC now owns 14,774 shares of the basic materials company’s stock valued at $550,000 after purchasing an additional 287 shares in the last quarter. Howard Capital Management Inc. increased its position in shares of Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 292 shares during the period. Finally, Intact Investment Management Inc. raised its stake in shares of Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

About Newmont

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.