Brokerages Set Newmont Co. (NYSE:NEM) PT at $56.52

Newmont Co. (NYSE:NEM) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $56.52.

Several analysts recently issued reports on NEM shares. Royal Bank of Canada lifted their target price on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research note on Friday, April 4th. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and increased their price objective for the company from $50.00 to $60.00 in a report on Friday, April 11th. TD Securities lowered their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. National Bankshares reaffirmed a “sector perform” rating on shares of Newmont in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Newmont in a research note on Thursday, April 24th.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the sale, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now directly owns 47,916 shares of the company’s stock, valued at $2,094,408.36. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock worth $328,840 over the last ninety days. Company insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Newmont

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brookstone Capital Management bought a new position in Newmont during the 4th quarter valued at about $245,000. Miracle Mile Advisors LLC bought a new stake in Newmont in the fourth quarter worth about $275,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Newmont by 121.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 15,175 shares of the basic materials company’s stock valued at $565,000 after buying an additional 8,315 shares during the period. Procyon Advisors LLC grew its stake in shares of Newmont by 14.1% during the fourth quarter. Procyon Advisors LLC now owns 14,064 shares of the basic materials company’s stock valued at $523,000 after buying an additional 1,734 shares during the last quarter. Finally, Avanza Fonder AB purchased a new stake in shares of Newmont in the fourth quarter worth approximately $4,269,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 2.1%

Shares of NEM stock opened at $53.75 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont has a one year low of $36.86 and a one year high of $58.72. The company’s fifty day moving average price is $50.96 and its 200-day moving average price is $45.21. The company has a market capitalization of $59.82 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the firm earned $0.55 earnings per share. Sell-side analysts expect that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.86%. Newmont’s payout ratio is currently 22.42%.

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.