Newmont Co. (NYSE:NEM) Receives $53.16 Consensus Price Target from Brokerages

Shares of Newmont Co. (NYSE:NEM) have earned an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $53.16.

Several equities analysts have recently issued reports on NEM shares. TD Securities reduced their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada boosted their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. Finally, Scotiabank decreased their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st.

Newmont Price Performance

Shares of NYSE:NEM opened at $48.06 on Friday. The company has a market cap of $54.17 billion, a PE ratio of 16.40, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont has a fifty-two week low of $36.10 and a fifty-two week high of $58.72. The firm has a 50-day simple moving average of $44.78 and a 200 day simple moving average of $45.42. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. On average, sell-side analysts anticipate that Newmont will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. Newmont’s dividend payout ratio (DPR) is 34.13%.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now directly owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the sale, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 in the last quarter. Insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Newmont

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Newmont in the fourth quarter worth about $626,074,000. Voloridge Investment Management LLC acquired a new position in Newmont in the 4th quarter worth approximately $92,693,000. Capital Research Global Investors boosted its stake in Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock worth $210,105,000 after purchasing an additional 2,338,953 shares during the period. Renaissance Technologies LLC acquired a new stake in Newmont during the 4th quarter valued at $76,281,000. Finally, Invesco Ltd. raised its stake in Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock valued at $391,568,000 after purchasing an additional 2,028,150 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

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.