Newmont Corporation (NYSE:NEM) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Newmont Corporation (NYSE:NEM) have earned a consensus rating of “Moderate Buy” from the nineteen analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, eight have issued a buy recommendation and four have given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $64.5750.

NEM has been the topic of a number of analyst reports. Scotiabank increased their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a report on Monday, July 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Newmont in a report on Thursday, April 24th. Raymond James Financial increased their price objective on Newmont from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. CIBC set a $74.00 target price on Newmont and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada boosted their price target on Newmont from $52.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 4th.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $176,250.00. Following the transaction, the executive vice president directly owned 74,526 shares in the company, valued at $4,378,402.50. The trade was a 3.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the transaction, the director owned 43,103 shares of the company’s stock, valued at $2,532,301.25. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,154 shares of company stock valued at $572,889 in the last quarter. Insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Newmont

Several hedge funds have recently made changes to their positions in the company. Concord Wealth Partners raised its stake in Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the period. Evermay Wealth Management LLC grew its holdings in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in Newmont by 64.0% during the first 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 during the period. Cloud Capital Management LLC purchased a new stake in Newmont in the 1st quarter worth about $26,000. Finally, Colonial Trust Advisors boosted its position in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 429 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 4.5%

Shares of Newmont stock opened at $65.42 on Thursday. The stock has a market capitalization of $71.86 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.76 and a beta of 0.30. Newmont has a twelve month low of $36.86 and a twelve month high of $66.57. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The business’s 50 day simple moving average is $58.33 and its 200-day simple moving average is $51.58.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. Equities research analysts forecast that Newmont will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Thursday, September 4th. Newmont’s dividend payout ratio is 17.95%.

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.