Brokerages Set Newmont Co. (NYSE:NEM) Price Target at $51.99

Shares of Newmont Co. (NYSE:NEMGet Free Report) have received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $51.99.

A number of equities research analysts recently weighed in on the company. Citigroup dropped their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Jefferies Financial Group assumed coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. Finally, Royal Bank of Canada dropped their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th.

View Our Latest Report on NEM

Newmont Stock Performance

NEM stock opened at $38.64 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $34.30 and its two-hundred day simple moving average is $36.77. Newmont has a twelve month low of $29.42 and a twelve month high of $51.46. The firm has a market cap of $44.54 billion, a price-to-earnings ratio of -16.24, a PEG ratio of 1.06 and a beta of 0.50.

Newmont (NYSE:NEMGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 EPS. Analysts predict that Newmont will post 1.97 earnings per share for the current year.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is -42.02%.

Institutional Investors Weigh In On Newmont

A number of institutional investors and hedge funds have recently modified their holdings of NEM. Compass Wealth Management LLC acquired a new stake in shares of Newmont during the fourth quarter worth about $25,000. TFC Financial Management Inc. raised its position in Newmont by 242.2% during the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 499 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Newmont during the third quarter valued at approximately $26,000. Life Planning Partners Inc purchased a new position in Newmont during the fourth quarter valued at approximately $26,000. Finally, Manchester Capital Management LLC raised its position in Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 397 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Company Profile

(Get Free Report

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.

See Also

Analyst Recommendations for Newmont (NYSE:NEM)

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