Newmont (NYSE:NEM) Upgraded at Macquarie

Macquarie upgraded shares of Newmont (NYSE:NEM) from a hold rating to a strong-buy rating in a research report released on Friday morning,Zacks.com reports.

NEM has been the topic of several other research reports. Argus lifted their target price on Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Bank of America raised their price objective on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Five research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $94.89.

Newmont Trading Down 1.0%

NYSE:NEM opened at $89.84 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont has a one year low of $36.86 and a one year high of $98.58. The company has a market cap of $98.04 billion, a PE ratio of 13.95, a PEG ratio of 0.63 and a beta of 0.41. The firm has a 50-day moving average of $86.92 and a 200-day moving average of $72.77.

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

Newmont Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,240 shares of company stock worth $943,985 in the last three months. Insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Newmont

A number of institutional investors and hedge funds have recently modified their holdings of the company. Physician Wealth Advisors Inc. increased its stake in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 236 shares during the last quarter. Colonial Trust Advisors boosted its holdings in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Concord Wealth Partners boosted its holdings in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Newmont during the 3rd quarter valued at about $27,000. Finally, Evermay Wealth Management LLC raised its holdings in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

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.