Newmont (NYSE:NEM) Trading Up 2% – What’s Next?

Shares of Newmont Corporation (NYSE:NEM) traded up 2% on Friday . The company traded as high as $109.09 and last traded at $108.9890. 7,571,208 shares changed hands during trading, a decline of 12% from the average session volume of 8,607,819 shares. The stock had previously closed at $106.89.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. National Bankshares boosted their price objective on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $71.50 to $114.00 in a report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Finally, Royal Bank Of Canada raised their price objective on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $97.08.

Newmont Stock Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The stock has a 50 day moving average of $94.34 and a 200 day moving average of $80.73. The stock has a market capitalization of $118.94 billion, a P/E ratio of 16.92, a P/E/G ratio of 0.80 and a beta of 0.41.

Newmont (NYSE:NEM) last posted its 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 company 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 firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. Equities analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

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

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NEM. GoalVest Advisory LLC acquired a new stake in Newmont in the fourth quarter worth about $25,000. Physician Wealth Advisors Inc. raised 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 in the last quarter. Concord Wealth Partners lifted its stake 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 acquiring an additional 385 shares during the period. JPL Wealth Management LLC bought a new position in shares of Newmont in the third quarter valued at approximately $27,000. Finally, Evermay Wealth Management LLC increased its stake in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after acquiring 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 (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.