Newmont (NYSE:NEM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Newmont (NYSE:NEM) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

Several other research analysts also recently commented on NEM. Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. UBS Group lifted their target price on Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Bank of America lifted their target price on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Weiss Ratings cut Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $86.92.

Newmont Stock Down 6.0%

NEM stock opened at $78.38 on Friday. The business’s 50-day moving average is $81.35 and its two-hundred day moving average is $65.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont has a fifty-two week low of $36.86 and a fifty-two week high of $98.58. The company has a market cap of $86.09 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 0.56 and a beta of 0.34.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the company earned $0.81 earnings per share. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts forecast that Newmont will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. Newmont’s payout ratio is presently 15.53%.

Insider Activity at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director directly owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock worth $1,132,065 in the last quarter. 0.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On Newmont

A number of institutional investors and hedge funds have recently bought and sold shares of NEM. Cloud Capital Management LLC bought a new stake in Newmont during the 1st quarter valued at $26,000. Colonial Trust Advisors raised its position in shares of Newmont by 315.4% in 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 in the last quarter. Concord Wealth Partners raised its position in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares in the last quarter. Evermay Wealth Management LLC raised its position in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares in the last quarter. Finally, Private Trust Co. NA raised its position in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 347 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.