Newmont (NYSE:NEM) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Newmont (NYSE:NEMFree Report) from an overweight rating to a neutral rating in a report published on Monday morning, Marketbeat reports.

Several other research analysts have also weighed in on the stock. Bank of America boosted their price objective on shares of Newmont from $49.00 to $50.00 and gave the stock a buy rating in a research note on Wednesday, June 26th. BMO Capital Markets lowered their price objective on shares of Newmont from $54.00 to $53.00 and set an outperform rating on the stock in a research note on Tuesday, May 21st. StockNews.com upgraded shares of Newmont from a sell rating to a hold rating in a research note on Friday, April 26th. Scotiabank boosted their price objective on shares of Newmont from $46.50 to $48.00 and gave the stock a sector perform rating in a research note on Thursday, May 23rd. Finally, UBS Group upgraded shares of Newmont from a neutral rating to a buy rating and boosted their price objective for the stock from $40.00 to $50.00 in a research note on Monday, June 17th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has a consensus rating of Moderate Buy and a consensus target price of $49.07.

Read Our Latest Stock Report on Newmont

Newmont Stock Up 3.6 %

Shares of NEM stock opened at $45.46 on Monday. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. Newmont has a 1 year low of $29.42 and a 1 year high of $45.92. The firm’s fifty day moving average price is $42.17 and its two-hundred day moving average price is $38.24. The firm has a market capitalization of $52.42 billion, a P/E ratio of -17.03, a PEG ratio of 0.37 and a beta of 0.47.

Newmont (NYSE:NEMGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the business earned $0.40 EPS. The company’s revenue was up 50.2% compared to the same quarter last year. On average, equities analysts predict that Newmont will post 2.48 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Tuesday, June 4th. Newmont’s dividend payout ratio is currently -37.45%.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the sale, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Advisory Services Inc. lifted its holdings in shares of Newmont by 3.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock worth $271,000 after acquiring an additional 278 shares during the period. Grey Street Capital LLC lifted its holdings in shares of Newmont by 0.4% during the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after acquiring an additional 289 shares during the period. Moody National Bank Trust Division lifted its holdings in shares of Newmont by 1.7% during the 1st quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock worth $647,000 after acquiring an additional 296 shares during the period. Reitz Capital Advisors LLC lifted its holdings in shares of Newmont by 1.1% during the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after acquiring an additional 298 shares during the period. Finally, Berkeley Capital Partners LLC lifted its holdings in shares of Newmont by 5.6% during the 4th quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock worth $247,000 after acquiring an additional 318 shares during the period. Institutional investors own 68.85% of the company’s stock.

About Newmont

(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.

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Analyst Recommendations for Newmont (NYSE:NEM)

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