Newmont (NYSE:NEM) Price Target Raised to $48.00

Newmont (NYSE:NEM) had its price objective hoisted by TD Securities from $43.00 to $48.00 in a research report report published on Friday morning, MarketBeat.com reports. They currently have a hold rating on the basic materials company’s stock.

Several other research analysts also recently weighed in on the stock. Argus downgraded shares of Newmont from a buy rating to a hold rating in a research report on Monday, February 26th. Citigroup cut their target price on shares of Newmont from $60.00 to $45.00 and set a buy rating on the stock in a research note on Thursday, April 4th. National Bank Financial reaffirmed an outperform overweight rating on shares of Newmont in a research report on Monday, April 8th. BMO Capital Markets dropped their price target on Newmont from $57.00 to $56.00 and set an outperform rating on the stock in a research report on Thursday, February 15th. Finally, Scotiabank reduced their price objective on Newmont from $50.00 to $43.50 and set a sector perform rating for the company in a research note on Wednesday, February 28th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $51.75.

Newmont Trading Down 1.1 %

Newmont stock opened at $42.26 on Friday. Newmont has a 1 year low of $29.42 and a 1 year high of $50.18. The firm’s 50 day moving average price is $35.71 and its two-hundred day moving average price is $36.95. The firm has a market cap of $48.72 billion, a price-to-earnings ratio of -15.83, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.35 by $0.20. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. Newmont’s revenue was up 50.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. On average, research analysts predict that Newmont will post 2.16 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.37%. The ex-dividend date is Tuesday, June 4th. Newmont’s payout ratio is presently -37.45%.

Institutional Trading of Newmont

Several large investors have recently added to or reduced their stakes in NEM. TFC Financial Management Inc. lifted its stake in shares of Newmont by 242.2% in the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 499 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Newmont in the third quarter worth about $26,000. Life Planning Partners Inc bought a new stake in shares of Newmont during the 4th quarter worth about $26,000. Manchester Capital Management LLC increased its holdings in shares of Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 397 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Newmont in the 3rd quarter valued at approximately $30,000. 68.85% of the stock is owned by institutional investors.

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.