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

Newmont Co. (NYSE:NEM) has been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $53.80.

NEM has been the subject of a number of analyst reports. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. The Goldman Sachs Group assumed coverage on Newmont in a research note on Monday. They issued a “buy” rating and a $47.20 price target for the company. Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $59.00 to $55.00 in a research report on Friday, October 25th.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on 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 owns 145,967 shares in the company, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock worth $563,080 over the last quarter. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Newmont

A number of hedge funds have recently added to or reduced their stakes in NEM. Avior Wealth Management LLC increased its position in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Newmont during the 3rd quarter valued at about $27,000. Prospera Private Wealth LLC purchased a new stake in shares of Newmont during the 3rd quarter valued at about $28,000. Highline Wealth Partners LLC purchased a new position in shares of Newmont in the third quarter worth approximately $32,000. Finally, Meeder Asset Management Inc. bought a new stake in Newmont during the second quarter valued at approximately $27,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Up 0.7 %

Shares of Newmont stock opened at $41.67 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont has a one year low of $29.42 and a one year high of $58.72. The business’s 50 day simple moving average is $40.43 and its two-hundred day simple moving average is $46.86.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate 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 earned $0.36 earnings per share. Analysts anticipate that Newmont will post 3.12 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s payout ratio is -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.