Newmont Corporation (NYSE:NEM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Newmont Corporation (NYSE:NEM) have been given a consensus rating of “Moderate Buy” by the twenty-four research firms that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $140.9762.

A number of research firms have recently commented on NEM. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. BMO Capital Markets boosted their price target on Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. TD Cowen reissued a “buy” rating on shares of Newmont in a report on Monday, April 27th. Canadian Imperial Bank of Commerce set a $175.00 price target on Newmont and gave the stock an “outperform” rating in a report on Monday, June 1st. Finally, Argus boosted their price target on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd.

Newmont Trading Up 0.1%

Shares of NYSE:NEM opened at $103.86 on Friday. The company has a market capitalization of $110.88 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.72 and a beta of 0.42. Newmont has a 1 year low of $55.37 and a 1 year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The business’s 50 day simple moving average is $110.02 and its 200 day simple moving average is $110.56.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, research analysts anticipate that Newmont will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Insider Transactions at Newmont

In other news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the sale, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. The trade was a 16.47% 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 ninety days, insiders sold 28,556 shares of company stock valued at $3,120,276. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

Institutional investors have recently bought and sold shares of the company. GoalVest Advisory LLC bought a new stake in Newmont during the fourth quarter valued at $25,000. Pinnacle Bancorp Inc. bought a new stake in Newmont during the first quarter valued at $25,000. Cedar Mountain Advisors LLC bought a new stake in Newmont during the first quarter valued at $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 position 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 buying an additional 206 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont received major regulatory approvals from British Columbia for its Red Chris Block Cave project, a key milestone that supports a transition from open-pit mining to block caving and extends the mine life into the mid-2040s. The approval improves visibility on future production and could support the stock by advancing Newmont toward a final investment decision later this year. Article Title
• Positive Sentiment: Newmont continues to be viewed as a core name in gold mining, and broader strength in gold/mining shares may be helping sentiment around the stock. This can provide support even when company-specific news is limited. Article Title
• Neutral Sentiment: BNP Paribas Exane lowered its price target on Newmont to $111 from $128 while keeping a neutral rating. That is still above the current share price, but the cut may temper near-term enthusiasm. Article Title
• Negative Sentiment: Reports say Newmont’s Cadia mine was halted after an earthquake, raising concerns about temporary production disruption. Any prolonged shutdown could weigh on output and sentiment until Newmont clarifies the impact. Article Title

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.