Newmont Co. (NYSE:NEM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Newmont Co. (NYSE:NEM) has earned an average recommendation of “Moderate Buy” from the sixteen research firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $51.46.

A number of research firms have weighed in on NEM. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $48.00 to $59.00 in a research note on Monday, August 19th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Finally, Jefferies Financial Group lifted their target price on shares of Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, July 12th.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares of the company’s stock, valued at $13,964,788.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 13,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the transaction, the chief executive officer now directly owns 331,469 shares in the company, valued at $13,964,788.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,000 shares of company stock valued at $2,744,700. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. LRI Investments LLC purchased a new position in Newmont in the first quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont during the 2nd quarter valued at about $25,000. Manchester Capital Management LLC raised its holdings in shares of Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after buying an additional 397 shares during the period. Meeder Asset Management Inc. acquired a new position in Newmont during the 2nd quarter worth approximately $27,000. Finally, Heritage Wealth Advisors boosted its holdings in Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 878 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM opened at $53.71 on Monday. The firm has a fifty day moving average price of $49.32 and a 200 day moving average price of $42.70. The stock has a market cap of $61.63 billion, a PE ratio of -20.12, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49. Newmont has a 1-year low of $29.42 and a 1-year high of $54.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm’s revenue was up 64.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, sell-side analysts anticipate that Newmont will post 2.82 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.86%. Newmont’s dividend payout ratio is currently -37.45%.

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.