Newmont (NYSE:NEM) Shares Up 3.7%

Newmont Co. (NYSE:NEM – Get Rating)’s share price traded up 3.7% during mid-day trading on Friday . The stock traded as high as $47.46 and last traded at $47.46. 5,465,903 shares changed hands during trading, a decline of 27% from the average session volume of 7,516,155 shares. The stock had previously closed at $45.78.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Credit Suisse Group raised their target price on Newmont to $54.00 in a research report on Monday, November 21st. Barclays raised their target price on Newmont from $54.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, January 30th. StockNews.com assumed coverage on Newmont in a research report on Thursday. They set a “hold” rating for the company. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the company from $59.00 to $53.00 in a research report on Tuesday, February 14th. Finally, TD Securities raised Newmont from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, February 24th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.21.

Newmont Stock Up 5.2 %

The company has a current ratio of 2.23, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31. The firm has a market cap of $38.27 billion, a PE ratio of -89.20, a price-to-earnings-growth ratio of 1.77 and a beta of 0.31. The stock has a fifty day simple moving average of $48.39 and a two-hundred day simple moving average of $45.80.

Newmont (NYSE:NEM – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.03). The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.10 billion. Newmont had a negative net margin of 3.60% and a positive return on equity of 6.98%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. As a group, sell-side analysts expect that Newmont Co. will post 2.24 EPS for the current fiscal year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. Newmont’s dividend payout ratio (DPR) is presently -296.29%.

Insider Activity

In other news, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $48.23, for a total transaction of $144,690.00. Following the completion of the sale, the chief operating officer now owns 33,947 shares in the company, valued at approximately $1,637,263.81. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $44.25, for a total value of $486,750.00. Following the completion of the sale, the chief executive officer now owns 322,039 shares in the company, valued at approximately $14,250,225.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $48.23, for a total value of $144,690.00. Following the completion of the sale, the chief operating officer now owns 33,947 shares of the company’s stock, valued at approximately $1,637,263.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,000 shares of company stock worth $1,294,720. 0.11% of the stock is currently owned by insiders.

Institutional Trading of Newmont

A number of hedge funds have recently bought and sold shares of NEM. Compass Wealth Management LLC purchased a new position in Newmont in the 4th quarter worth approximately $25,000. Delta Asset Management LLC TN purchased a new position in Newmont in the 4th quarter worth approximately $30,000. Cowa LLC purchased a new position in Newmont in the 3rd quarter worth approximately $32,000. Avion Wealth increased its stake in Newmont by 4,664.7% in the 3rd quarter. Avion Wealth now owns 810 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 793 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in Newmont in the 3rd quarter worth approximately $34,000. Institutional investors own 77.60% of the company’s stock.

Newmont Company Profile

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Newmont Corp. is a gold producer, engages in the exploration and acquisition of gold properties, contains copper, silver, lead, zinc or other metals. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.