Newmont (NYSE:NEM) Given New $146.00 Price Target at Jefferies Financial Group

Newmont (NYSE:NEM) had its price objective cut by Jefferies Financial Group from $158.00 to $146.00 in a report published on Monday, MarketBeat.com reports. They currently have a buy rating on the basic materials company’s stock.

Several other analysts have also recently commented on NEM. UBS Group decreased their price target on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Weiss Ratings downgraded shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. TD lifted their price objective on Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research report on Monday, April 27th. BNP Paribas Exane cut their price target on Newmont from $128.00 to $111.00 and set a “neutral” rating for the company in a research note on Thursday, June 18th. Finally, Canaccord Genuity Group boosted their price target on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $138.78.

Newmont Trading Down 2.0%

Newmont stock opened at $96.22 on Monday. The company has a 50 day moving average price of $106.12 and a 200 day moving average price of $110.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont has a 52 week low of $55.37 and a 52 week high of $134.88. The firm has a market capitalization of $102.72 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 1.61 and a beta of 0.46.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont’s revenue was up 45.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. Research analysts forecast that Newmont will post 9.87 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio is presently 13.49%.

Insiders Place Their Bets

In other news, EVP Peter Wexler sold 13,378 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Also, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was 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 in the company, valued at approximately $2,550,477.93. The trade was 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 quarter, insiders sold 28,556 shares of company stock worth $3,058,146. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

A number of hedge funds have recently bought and sold shares of the stock. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont in the first quarter valued at about $25,000. Pinnacle Bancorp Inc. acquired a new position in Newmont in the 1st quarter valued at approximately $25,000. GoalVest Advisory LLC bought a new stake in shares of Newmont in the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new stake in shares of Newmont during the 4th quarter worth approximately $26,000. Finally, Cornerstone Planning Group LLC grew its holdings 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 in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Jefferies kept a Buy rating on Newmont even after cutting its price target from $158 to $146, which still implies meaningful upside from the current share price and supports the stock. Benzinga source
• Positive Sentiment: Recent commentary highlighted the possibility that higher gold prices could lift Newmont further, reinforcing sentiment around the company’s earnings leverage to bullion prices. Article title
• Positive Sentiment: Market recaps noted that Newmont outperformed the broader market in the latest session, reflecting continued investor interest in the gold miner. Article title
• Neutral Sentiment: Newmont’s accounting chief disclosed initial beneficial ownership, a routine corporate filing that does not by itself indicate a major change in fundamentals. Article title
• Negative Sentiment: EVP Peter Toth sold 3,000 shares under a pre-arranged trading plan, which can still weigh on sentiment because insider selling is often viewed cautiously by investors. Insider trade source
• Negative Sentiment: Jefferies lowered its price target on Newmont, which may signal slightly more tempered expectations even though the firm remains constructive on the stock. The Fly source

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.