Newmont Co. (NYSE:NEM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Newmont Co. (NYSE:NEM) have been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $54.31.

NEM has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. CLSA began coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. Royal Bank of Canada lowered their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th.

Newmont Trading Down 0.7 %

Shares of NEM opened at $39.81 on Wednesday. The stock has a market capitalization of $45.32 billion, a PE ratio of -26.19, a P/E/G ratio of 0.36 and a beta of 0.49. The company’s fifty day moving average is $45.98 and its 200 day moving average is $47.37. 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 fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the prior year, the business posted $0.36 EPS. The company’s revenue was up 84.7% on a year-over-year basis. Sell-side analysts expect that Newmont will post 3.08 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.51%. Newmont’s payout ratio is currently -65.79%.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Newmont

Several institutional investors have recently bought and sold shares of NEM. Tidal Investments LLC lifted its holdings in Newmont by 5.4% in the 3rd quarter. Tidal Investments LLC now owns 163,695 shares of the basic materials company’s stock valued at $8,749,000 after purchasing an additional 8,412 shares in the last quarter. Cim Investment Management Inc. purchased a new position in shares of Newmont in the third quarter worth about $1,033,000. Wilmington Savings Fund Society FSB acquired a new position in Newmont during the third quarter worth about $422,000. Sanctuary Advisors LLC boosted its position in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after acquiring an additional 18,722 shares during the last quarter. Finally, Virtu Financial LLC grew its stake in Newmont by 183.2% during the 3rd quarter. Virtu Financial LLC now owns 23,136 shares of the basic materials company’s stock valued at $1,237,000 after acquiring an additional 14,967 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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.