Newmont Corporation (NYSE:NEM) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Newmont Corporation (NYSE:NEM) have received a consensus recommendation of “Buy” from the twenty-two brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and five have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $96.3706.

A number of analysts have commented on NEM shares. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. National Bankshares increased their price objective on shares of Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. BNP Paribas Exane downgraded shares of Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 target price for the company. in a research report on Friday, December 5th. Raymond James Financial set a $99.00 price target on Newmont and gave the stock an “outperform” rating in a research report on Friday, October 24th. Finally, TD Securities upped their target price on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th.

Newmont Stock Up 1.0%

NYSE:NEM opened at $105.79 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont has a twelve month low of $36.86 and a twelve month high of $106.34. The company has a market cap of $115.44 billion, a PE ratio of 16.43, a P/E/G ratio of 0.74 and a beta of 0.41. The company’s 50 day moving average is $90.38 and its two-hundred day moving average is $77.49.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate 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 net margin of 33.42% and a return on equity of 20.35%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share. Analysts anticipate that Newmont will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Newmont’s dividend payout ratio is 15.53%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’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 directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,240 shares of company stock worth $943,985. 0.05% of the stock is owned by company insiders.

Institutional Trading of Newmont

Institutional investors have recently bought and sold shares of the business. Colonial Trust Advisors lifted its position in shares of Newmont by 20.8% during the 3rd quarter. Colonial Trust Advisors now owns 684 shares of the basic materials company’s stock valued at $58,000 after buying an additional 118 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Newmont by 53.5% during the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 139 shares during the period. HHM Wealth Advisors LLC lifted its holdings in Newmont by 26.4% during the third quarter. HHM Wealth Advisors LLC now owns 670 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 140 shares in the last quarter. Fielder Capital Group LLC grew its position in shares of Newmont by 1.7% in the third quarter. Fielder Capital Group LLC now owns 8,390 shares of the basic materials company’s stock valued at $707,000 after purchasing an additional 141 shares during the period. Finally, Summit Financial Wealth Advisors LLC increased its stake in shares of Newmont by 2.3% during the third quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock worth $566,000 after purchasing an additional 145 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.