Analysts Set Newmont Co. (NYSE:NEM) Target Price at $54.31

Shares of Newmont Co. (NYSE:NEM) have received an average rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $53.80.

NEM has been the subject of several research reports. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Royal Bank of Canada decreased their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. CLSA began coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. Finally, Scotiabank downgraded Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $59.00 to $55.00 in a report on Friday, October 25th.

Newmont Trading Up 2.6 %

NEM stock opened at $40.19 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market cap of $45.75 billion, a price-to-earnings ratio of -26.44, a PEG ratio of 0.35 and a beta of 0.50. The business has a fifty day simple moving average of $40.49 and a 200-day simple moving average of $46.90. Newmont has a 52 week low of $29.42 and a 52 week high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the business earned $0.36 earnings per share. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, equities research analysts expect that Newmont will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Insider Buying and Selling

In related news, Director Harry M. Iv Conger bought 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This represents a 189.96 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,077 shares of company stock worth $563,080 over the last quarter. 0.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Newmont

A number of hedge funds have recently made changes to their positions in the business. Waverton Investment Management Ltd grew its position in Newmont by 14.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock valued at $28,379,000 after buying an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after acquiring an additional 18,722 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after acquiring an additional 1,578,545 shares during the period. Red Cedar Investment Management LLC bought a new stake in Newmont during the third quarter worth approximately $1,263,000. Finally, Two Sigma Advisers LP lifted its position in Newmont by 99.8% in the third quarter. Two Sigma Advisers LP now owns 601,276 shares of the basic materials company’s stock worth $32,138,000 after purchasing an additional 300,400 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Company Profile

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.