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

Shares of Newmont Co. (NYSE:NEM) have received a consensus rating of “Moderate Buy” from the nineteen analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $53.16.

Several research firms have recently weighed in on NEM. Scotiabank lowered their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. TD Securities decreased their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. Finally, StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,231 shares of company stock worth $1,388,758. Insiders own 0.05% of the company’s stock.

Institutional Trading of Newmont

Several hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its holdings in shares of Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after acquiring an additional 18,722 shares in the last quarter. Nordea Investment Management AB raised its holdings in Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. raised its holdings in Newmont by 57.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after buying an additional 865,213 shares during the period. Brookstone Capital Management bought a new position in Newmont in the fourth quarter valued at approximately $245,000. Finally, Moody National Bank Trust Division boosted its holdings in shares of Newmont by 13.6% in the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock valued at $822,000 after buying an additional 2,645 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Up 0.0 %

Shares of NEM opened at $48.29 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $45.03 and a two-hundred day moving average price of $45.35. The stock has a market cap of $54.44 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont has a 12 month low of $36.44 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Equities analysts predict that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. Newmont’s payout ratio is presently 34.13%.

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.