Investment Analysts’ Weekly Ratings Changes for Newmont (NEM)

A number of research firms have changed their ratings and price targets for Newmont (NYSE: NEM):

  • 5/2/2024 – Newmont had its price target lowered by analysts at BMO Capital Markets from $56.00 to $54.00. They now have an “outperform” rating on the stock.
  • 4/30/2024 – Newmont was downgraded by analysts at National Bank Financial from an “outperform overweight” rating to a “sector perform overweight” rating.
  • 4/26/2024 – Newmont was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 4/26/2024 – Newmont had its price target raised by analysts at TD Securities from $43.00 to $48.00. They now have a “hold” rating on the stock.
  • 4/8/2024 – Newmont had its “outperform overweight” rating reaffirmed by analysts at National Bank Financial.
  • 4/4/2024 – Newmont had its price target lowered by analysts at Citigroup Inc. from $60.00 to $45.00. They now have a “buy” rating on the stock.

Newmont Price Performance

Shares of NEM stock opened at $41.05 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. The company has a market capitalization of $47.34 billion, a P/E ratio of -15.37, a P/E/G ratio of 1.04 and a beta of 0.48. The company’s 50-day simple moving average is $36.21 and its two-hundred day simple moving average is $37.01. Newmont Co. has a one year low of $29.42 and a one year high of $50.18.

Newmont (NYSE:NEMGet Free Report) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm earned $0.40 EPS. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. As a group, equities analysts anticipate that Newmont Co. will post 2.16 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.44%. Newmont’s dividend payout ratio is presently -37.45%.

Hedge Funds Weigh In On Newmont

A number of hedge funds and other institutional investors have recently modified their holdings of NEM. Mizuho Securities Co. Ltd. bought a new position in shares of Newmont during the third quarter valued at approximately $26,000. Life Planning Partners Inc bought a new position in shares of Newmont during the fourth quarter valued at approximately $26,000. Manchester Capital Management LLC boosted its stake in shares of 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 purchasing an additional 397 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Newmont during the third quarter valued at approximately $30,000. Finally, CVA Family Office LLC acquired a new stake in Newmont in the fourth quarter valued at approximately $34,000. 68.85% of the stock is currently owned by institutional investors.

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.

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