Newmont Co. (NYSE:NEM) Receives $53.16 Consensus Price Target from Analysts

Shares of Newmont Co. (NYSE:NEM) have been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $53.16.

NEM has been the topic of several research reports. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Scotiabank dropped their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. TD Securities reduced their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research note on Friday, March 21st. Finally, Royal Bank of Canada lifted their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th.

Newmont Stock Down 0.7 %

Newmont stock opened at $48.06 on Friday. Newmont has a twelve month low of $36.10 and a twelve month high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market cap of $54.17 billion, a PE ratio of 16.40, a P/E/G ratio of 0.41 and a beta of 0.54. The firm’s 50 day moving average price is $44.78 and its two-hundred day moving average price is $45.42.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. On average, research analysts predict that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.08%. Newmont’s payout ratio is 34.13%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock valued at $1,388,758 in the last three months. Company insiders own 0.05% of the company’s stock.

Institutional Trading of Newmont

Hedge funds have recently modified their holdings of the company. HHM Wealth Advisors LLC raised its stake in shares of Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Redwood Park Advisors LLC acquired a new position in shares of Newmont in the 4th quarter valued at $37,000. Promus Capital LLC bought a new position in shares of Newmont during the 4th quarter worth about $38,000. McIlrath & Eck LLC boosted its position in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Newmont during the 4th quarter valued at about $43,000. Institutional investors own 68.85% of the company’s stock.

About Newmont

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.