Newmont Co. (NYSE:NEM) Receives $56.52 Consensus PT from Analysts

Shares of Newmont Co. (NYSE:NEM) have received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, eight have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $56.52.

NEM has been the subject of several analyst reports. Cfra Research raised shares of Newmont to a “strong-buy” rating in a research note on Friday, April 25th. Argus set a $63.00 price objective on Newmont in a research report on Friday, April 25th. TD Securities reduced their target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada increased their price target on Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a report on Friday, April 4th. Finally, National Bank Financial upgraded shares of Newmont to a “hold” rating in a report on Friday, March 21st.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total value of $106,923.96. Following the transaction, the director now owns 47,257 shares of the company’s stock, valued at $2,432,790.36. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,154 shares of company stock worth $328,840. Company insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Newmont

Institutional investors have recently added to or reduced their stakes in the business. Hemington Wealth Management increased its position in shares of Newmont by 25.2% during the first quarter. Hemington Wealth Management now owns 965 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 194 shares in the last quarter. Ipswich Investment Management Co. Inc. increased its position in Newmont by 1.4% during the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company’s stock worth $689,000 after buying an additional 200 shares during the period. SOA Wealth Advisors LLC. boosted its holdings in shares of Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 201 shares during the period. HighPoint Advisor Group LLC grew its position in shares of Newmont by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 219 shares during the last quarter. Finally, Rothschild Investment LLC increased its holdings in shares of Newmont by 8.5% in the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company’s stock valued at $135,000 after acquiring an additional 219 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $50.91 on Friday. The business’s 50 day moving average price is $50.48 and its 200 day moving average price is $45.00. The company has a market cap of $56.66 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.41 and a beta of 0.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont has a one year low of $36.86 and a one year high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. On average, research analysts predict that Newmont will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Tuesday, May 27th. Newmont’s dividend payout ratio is presently 22.42%.

Newmont Company Profile

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.