UBS Group Upgrades Newmont (NYSE:NEM) to “Buy”

Newmont (NYSE:NEM) was upgraded by investment analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Friday,Briefing.com Automated Import reports.

Other research analysts also recently issued reports about the stock. TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. Finally, Royal Bank of Canada raised their price target on Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.09.

Newmont Trading Up 4.7 %

NYSE:NEM opened at $51.06 on Friday. Newmont has a 1 year low of $36.60 and a 1 year high of $58.72. The stock has a market cap of $57.55 billion, a P/E ratio of 17.42, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a 50-day simple moving average of $45.94 and a 200-day simple moving average of $45.05.

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

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the transaction, the director now directly owns 49,993 shares of the company’s stock, valued at $2,144,199.77. This represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the sale, the executive vice president now directly owns 79,596 shares in the company, valued at $3,413,872.44. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,154 shares of company stock worth $825,678 in the last three months. Insiders own 0.05% of the company’s stock.

Institutional Trading of Newmont

Several hedge funds have recently modified their holdings of the business. HighPoint Advisor Group LLC raised its position in Newmont by 3.8% in the fourth 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 in the last quarter. Rothschild Investment LLC grew its stake in shares of Newmont by 8.5% during the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company’s stock worth $135,000 after purchasing an additional 219 shares during the period. Confluence Investment Management LLC increased its holdings in shares of Newmont by 2.4% in the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after purchasing an additional 281 shares in the last quarter. Keel Point LLC lifted its stake in shares of Newmont by 2.0% in the fourth 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 during the period. Finally, Howard Capital Management Inc. boosted its holdings in Newmont by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after buying an additional 292 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

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.