BMO Capital Markets Trims Newmont (NYSE:NEM) Target Price to $54.00

Newmont (NYSE:NEM) had its price objective trimmed by BMO Capital Markets from $56.00 to $54.00 in a report published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the basic materials company’s stock.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada dropped their price objective on shares of Newmont from $45.00 to $40.00 and set a sector perform rating for the company in a research note on Thursday, February 8th. Jefferies Financial Group began coverage on Newmont in a report on Thursday, February 29th. They set a buy rating and a $38.00 price objective on the stock. Scotiabank lowered their target price on shares of Newmont from $50.00 to $43.50 and set a sector perform rating for the company in a report on Wednesday, February 28th. StockNews.com raised Newmont from a sell rating to a hold rating in a research report on Friday, April 26th. Finally, Citigroup cut their target price on shares of Newmont from $60.00 to $45.00 and set a buy rating on the stock in a research note on Thursday, April 4th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $48.35.

Newmont Stock Down 1.0 %

NEM opened at $40.66 on Thursday. Newmont has a one year low of $29.42 and a one year high of $50.18. The company has a market cap of $46.89 billion, a price-to-earnings ratio of -15.23, a PEG ratio of 0.96 and a beta of 0.48. The business’s fifty day moving average is $36.40 and its two-hundred day moving average is $37.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the company earned $0.40 EPS. The firm’s revenue was up 50.2% on a year-over-year basis. Analysts anticipate that Newmont will post 2.32 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Hedge Funds Weigh In On Newmont

A number of hedge funds and other institutional investors have recently bought and sold shares of NEM. Grey Street Capital LLC grew its position in shares of Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after acquiring an additional 289 shares during the last quarter. Moody National Bank Trust Division grew its holdings in Newmont by 1.7% during the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock worth $647,000 after acquiring an additional 296 shares during the period. Reitz Capital Advisors LLC boosted its position in shares of Newmont by 1.1% during the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after purchasing an additional 298 shares in the last quarter. Antonetti Capital Management LLC increased its holdings in shares of Newmont by 30.0% in the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock valued at $48,000 after buying an additional 300 shares in the last quarter. Finally, Sigma Planning Corp boosted its stake in shares of Newmont by 4.6% during the 3rd quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock worth $261,000 after acquiring an additional 309 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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.