Newmont Co. (NYSE:NEM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Newmont Co. (NYSE:NEM) have received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $54.31.

NEM has been the topic of several research analyst reports. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. CLSA began coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Raymond James reduced their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Finally, Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $59.00 to $55.00 in a research note on Friday, October 25th.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. This represents a 6.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harry M. Iv Conger purchased 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Newmont

Hedge funds have recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC bought a new position in Newmont in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in Newmont in the second quarter valued at approximately $27,000. Hoese & Co LLP acquired a new position in Newmont during the third quarter valued at approximately $27,000. Avior Wealth Management LLC lifted its stake in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Newmont in the 3rd quarter valued at $28,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.4 %

NEM stock opened at $38.31 on Wednesday. Newmont has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market cap of $43.61 billion, a PE ratio of -25.20, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. The business’s 50-day simple moving average is $44.70 and its 200 day simple moving average is $47.26.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 EPS. On average, research analysts anticipate that Newmont will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s dividend payout ratio is presently -65.79%.

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.