Newmont (NYSE:NEM) Upgraded by BMO Capital Markets to Strong-Buy Rating

BMO Capital Markets upgraded shares of Newmont (NYSE:NEM) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

Several other research analysts have also weighed in on the stock. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. The Goldman Sachs Group started coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $50.00 to $60.00 in a research note on Friday, April 11th. Raymond James increased their target price on Newmont from $54.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Finally, Scotiabank reissued a “sector perform” rating on shares of Newmont in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.02.

Newmont Trading Down 1.6 %

Shares of NEM opened at $55.08 on Tuesday. Newmont has a fifty-two week low of $36.60 and a fifty-two week high of $58.72. The company has a market capitalization of $62.08 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The stock has a fifty day moving average of $46.95 and a two-hundred day moving average of $45.13. 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 (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. As a group, analysts forecast that Newmont will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This represents a 4.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the sale, the executive vice president now owns 79,596 shares of the company’s stock, valued at $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,154 shares of company stock worth $825,678 in the last 90 days. 0.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Newmont

A number of institutional investors have recently made changes to their positions in NEM. SOA Wealth Advisors LLC. grew its position in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after buying an additional 201 shares in the last quarter. Nexus Investment Management ULC bought a new position in Newmont during the 1st quarter valued at $31,000. McIlrath & Eck LLC grew its holdings in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares in the last quarter. HHM Wealth Advisors LLC increased its position in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Newmont by 84.0% in the 1st quarter. Grove Bank & Trust now owns 911 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 416 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

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.