Newmont Corporation (NYSE:NEM) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Newmont Corporation (NYSE:NEM) have been given an average rating of “Moderate Buy” by the twenty-four research firms that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $142.0524.

A number of brokerages have commented on NEM. Royal Bank Of Canada upped their target price on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Macquarie Infrastructure lifted their price target on shares of Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Stifel Nicolaus boosted their price target on Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Bank of America increased their price objective on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Barclays assumed coverage on Newmont in a report on Thursday, May 21st. They set an “overweight” rating and a $133.00 price objective on the stock.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $330,330.00. Following the transaction, the executive vice president owned 49,315 shares of the company’s stock, valued at approximately $5,430,074.65. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 43,068 shares of company stock valued at $4,769,475. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Newmont

Several institutional investors have recently bought and sold shares of the business. Cedar Mountain Advisors LLC bought a new stake in Newmont during the 1st quarter valued at $25,000. Pinnacle Bancorp Inc. bought a new position in shares of Newmont in the 1st quarter worth $25,000. GoalVest Advisory LLC bought a new position in shares of Newmont in the 4th quarter worth $25,000. Swiss RE Ltd. purchased a new stake in shares of Newmont during the 4th quarter worth $26,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Up 3.6%

NYSE:NEM opened at $111.49 on Wednesday. The company has a market cap of $119.02 billion, a price-to-earnings ratio of 14.46 and a beta of 0.43. Newmont has a twelve month low of $51.80 and a twelve month high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $110.94 and a 200-day simple moving average of $108.60.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. Analysts anticipate that Newmont will post 9.47 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

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.