Newmont Co. (NYSE:NEM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Newmont Co. (NYSE:NEM) have been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $49.07.

A number of research analysts have recently commented on the company. Jefferies Financial Group started coverage on Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target for the company. Citigroup reduced their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. National Bank Financial lowered shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. Finally, BMO Capital Markets decreased their target price on Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st.

Hedge Funds Weigh In On Newmont

Several institutional investors have recently added to or reduced their stakes in NEM. Cary Street Partners Investment Advisory LLC acquired a new position in Newmont in the third quarter worth $134,000. Operose Advisors LLC lifted its position in Newmont by 156.8% during the 3rd quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock worth $38,000 after buying an additional 635 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Newmont by 6.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 18,708 shares of the basic materials company’s stock worth $691,000 after acquiring an additional 1,208 shares during the last quarter. Mutual Advisors LLC increased its position in Newmont by 4.9% in the 3rd quarter. Mutual Advisors LLC now owns 19,827 shares of the basic materials company’s stock valued at $733,000 after acquiring an additional 927 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Newmont by 3.1% in the third quarter. Treasurer of the State of North Carolina now owns 542,140 shares of the basic materials company’s stock worth $20,032,000 after acquiring an additional 16,310 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

Shares of Newmont stock opened at $41.91 on Wednesday. Newmont has a 1-year low of $29.42 and a 1-year high of $45.92. The firm has a fifty day simple moving average of $41.49 and a 200-day simple moving average of $38.04. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $48.33 billion, a price-to-earnings ratio of -15.70, a PEG ratio of 0.36 and a beta of 0.52.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The business’s quarterly revenue was up 50.2% compared to the same quarter last year. On average, sell-side analysts expect that Newmont will post 2.44 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.39%. Newmont’s dividend payout ratio is currently -37.45%.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.