Analysts Set Newmont Co. (NYSE:NEM) Target Price at $54.31

Newmont Co. (NYSE:NEM) has been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $54.31.

NEM has been the subject of several recent analyst reports. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $59.00 to $55.00 in a research report on Friday, October 25th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group lifted their price objective on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry M. Iv Conger acquired 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Newmont

A number of institutional investors have recently made changes to their positions in NEM. Tidal Investments LLC increased its stake in Newmont by 5.4% during the third quarter. Tidal Investments LLC now owns 163,695 shares of the basic materials company’s stock valued at $8,749,000 after acquiring an additional 8,412 shares during the period. Cim Investment Management Inc. bought a new position in Newmont during the third quarter valued at about $1,033,000. Wilmington Savings Fund Society FSB bought a new position in Newmont during the third quarter valued at about $422,000. Sanctuary Advisors LLC increased its stake in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after acquiring an additional 18,722 shares during the period. Finally, Virtu Financial LLC increased its stake in Newmont by 183.2% during the third quarter. Virtu Financial LLC now owns 23,136 shares of the basic materials company’s stock valued at $1,237,000 after acquiring an additional 14,967 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

Shares of Newmont stock opened at $38.28 on Wednesday. The stock has a market cap of $43.58 billion, a PE ratio of -25.18, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. The business has a fifty day simple moving average of $45.03 and a 200-day simple moving average of $47.25. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont has a 12 month low of $29.42 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business’s quarterly revenue was up 84.7% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. On average, sell-side analysts anticipate that Newmont will post 3.08 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.61%. Newmont’s dividend payout ratio (DPR) is currently -65.79%.

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.