Newmont Corporation (NYSE:NEM) Receives $134.15 Consensus PT from Analysts

Shares of Newmont Corporation (NYSE:NEM) have earned an average rating of “Buy” from the twenty-two brokerages that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $134.1526.

NEM has been the topic of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Macquarie Infrastructure increased their price objective on shares of Newmont from $115.00 to $126.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Wall Street Zen raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. Royal Bank Of Canada upped their price target on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Finally, UBS Group cut their price target on Newmont from $160.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 23rd.

Newmont Trading Up 0.7%

Shares of NEM stock opened at $110.97 on Friday. Newmont has a fifty-two week low of $42.93 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The stock’s fifty day moving average is $118.89 and its two-hundred day moving average is $99.20. The firm has a market capitalization of $120.72 billion, a P/E ratio of 17.37, a PEG ratio of 0.85 and a beta of 0.39.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 earnings per share. Research analysts expect that Newmont will post 3.45 earnings per share for the current fiscal year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, March 3rd. This is an increase from Newmont’s previous quarterly dividend of $0.25. Newmont’s dividend payout ratio (DPR) is currently 16.28%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NEM. Vanguard Group Inc. increased its position in Newmont by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after purchasing an additional 637,996 shares during the last quarter. State Street Corp boosted its holdings in Newmont by 1.0% in the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after purchasing an additional 480,223 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after buying an additional 5,643,496 shares during the period. Geode Capital Management LLC grew its stake in shares of Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock valued at $2,738,756,000 after buying an additional 946,824 shares during the period. Finally, Norges Bank acquired a new stake in shares of Newmont during the 2nd quarter worth approximately $919,170,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.