Newmont Co. (NYSE:NEM – Get Free Report) 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.
View Our Latest Report on Newmont
Insider Activity at Newmont
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 – Get Free Report) 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.
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