Newmont Corporation (NYSE:NEM) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Newmont Corporation (NYSE:NEM) have received a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $57.68.

A number of research analysts recently weighed in on NEM shares. Royal Bank Of Canada raised their target price on shares of Newmont from $52.00 to $66.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Cfra Research raised Newmont to a “strong-buy” rating in a research report on Friday, April 25th. National Bankshares reaffirmed a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. Finally, Raymond James Financial reissued an “outperform” rating and issued a $66.00 target price on shares of Newmont in a research note on Friday, April 25th.

Newmont Stock Performance

NEM opened at $58.52 on Wednesday. The company has a market capitalization of $65.13 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 0.98 and a beta of 0.31. The business’s 50-day moving average price is $53.45 and its two-hundred day moving average price is $46.63. Newmont has a 1 year low of $36.86 and a 1 year high of $58.81. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter last year, the firm earned $0.55 EPS. Equities analysts expect that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

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 issued a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.71%. Newmont’s dividend payout ratio is currently 22.42%.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the sale, the director now directly owns 45,180 shares in the company, valued at $2,443,786.20. The trade was a 4.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the transaction, the executive vice president now directly owns 77,526 shares in the company, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock valued at $381,539 over the last ninety days. 0.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Newmont

A number of hedge funds have recently bought and sold shares of the business. Hemington Wealth Management lifted its position in shares of Newmont by 25.2% during the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 194 shares during the period. Ipswich Investment Management Co. Inc. increased its holdings in Newmont by 1.4% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company’s stock valued at $689,000 after buying an additional 200 shares during the period. SOA Wealth Advisors LLC. raised its position in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after buying an additional 201 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Newmont by 3.8% during 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. Finally, Rothschild Investment LLC boosted its position 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 acquiring an additional 219 shares in the last quarter. 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.