Newmont Corporation (NYSE:NEM) Given Consensus Rating of “Buy” by Brokerages

Newmont Corporation (NYSE:NEM) has been assigned an average recommendation of “Buy” from the twenty-one analysts that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $92.5929.

Several equities research analysts have weighed in on NEM shares. Bank of America increased their target price on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Royal Bank Of Canada boosted their price target on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Citigroup lifted their price target on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group set a $104.30 target price on shares of Newmont and gave the stock a “buy” rating in a report on Sunday, October 12th.

Newmont Stock Performance

Shares of NYSE NEM opened at $90.47 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $86.56 and its two-hundred day moving average price is $71.96. Newmont has a 52-week low of $36.86 and a 52-week high of $98.58. The stock has a market capitalization of $98.73 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. As a group, sell-side analysts forecast that Newmont will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the transaction, the director owned 34,789 shares in the company, valued at approximately $2,816,517.44. This represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,160 shares of company stock worth $751,876 in the last 90 days. Corporate insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Newmont

A number of institutional investors and hedge funds have recently bought and sold shares of NEM. Physician Wealth Advisors Inc. grew its position in shares of Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after buying an additional 236 shares during the period. JPL Wealth Management LLC bought a new position in Newmont during the 3rd quarter worth approximately $27,000. Harbor Capital Advisors Inc. grew its holdings in Newmont by 53.5% during the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 139 shares during the period. Concord Wealth Partners increased its stake in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares in the last quarter. Finally, Evermay Wealth Management LLC raised its holdings in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

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.