Newmont (NYSE:NEM) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of Newmont (NYSE:NEM) from a strong-buy rating to a buy rating in a research report report published on Sunday morning.

Other research analysts have also issued research reports about the company. Raymond James Financial set a $99.00 price target on Newmont and gave the stock an “outperform” rating in a report on Friday, October 24th. CIBC set a $112.00 price target on Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. UBS Group lifted their price target on Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $71.50 to $114.00 in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada lifted their price target on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $86.92.

Newmont Trading Down 1.8%

NEM opened at $80.85 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The company’s 50 day simple moving average is $82.25 and its two-hundred day simple moving average is $66.70. Newmont has a 1-year low of $36.86 and a 1-year high of $98.58. The firm has a market capitalization of $88.23 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.53 and a beta of 0.34.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the company posted $0.81 EPS. The business’s revenue was up 20.0% on a year-over-year basis. Analysts expect that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Newmont’s payout ratio is presently 15.53%.

Insider Buying and Selling

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares of the company’s stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 11,172 shares of company stock worth $808,863. 0.05% of the stock is owned by corporate insiders.

Institutional Trading of Newmont

Institutional investors and hedge funds have recently bought and sold shares of the business. Cloud Capital Management LLC purchased a new stake in Newmont during the first quarter worth about $26,000. Colonial Trust Advisors increased its stake in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares during the period. Concord Wealth Partners increased its stake in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares during the period. Evermay Wealth Management LLC increased its stake in Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the period. Finally, Private Trust Co. NA increased its stake in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 347 shares during the period. 68.85% of the stock is currently owned by hedge funds and other 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.