A number of other equities research analysts also recently weighed in on the company. Canaccord Genuity Group raised Newmont from a hold rating to a buy rating and reduced their target price for the company from $66.00 to $60.00 in a report on Wednesday, July 27th. Fundamental Research reaffirmed a buy rating and issued a $52.00 target price (down previously from $63.91) on shares of Newmont in a report on Tuesday, November 15th. StockNews.com started coverage on Newmont in a report on Wednesday, October 12th. They issued a hold rating on the stock. UBS Group raised Newmont from a neutral rating to a buy rating and set a $50.00 target price on the stock in a report on Tuesday, September 6th. Finally, TheStreet downgraded Newmont from a b- rating to a c+ rating in a report on Thursday, September 22nd. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $63.33.
Newmont Trading Up 0.3 %
Shares of NYSE:NEM opened at $46.25 on Monday. The company has a market capitalization of $36.71 billion, a P/E ratio of 36.71 and a beta of 0.25. Newmont has a 1 year low of $37.45 and a 1 year high of $86.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 2.29. The business’s 50 day simple moving average is $42.88 and its 200 day simple moving average is $51.06.
Newmont Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 4.76%. The ex-dividend date is Wednesday, December 7th. Newmont’s dividend payout ratio is currently 174.60%.
Insider Buying and Selling
In related news, insider Mark Casper sold 4,890 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $41.98, for a total transaction of $205,282.20. Following the completion of the transaction, the insider now directly owns 18,217 shares of the company’s stock, valued at approximately $764,749.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $42.71, for a total value of $128,130.00. Following the completion of the transaction, the chief operating officer now directly owns 42,947 shares of the company’s stock, valued at approximately $1,834,266.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Casper sold 4,890 shares of Newmont stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $41.98, for a total value of $205,282.20. Following the completion of the transaction, the insider now directly owns 18,217 shares of the company’s stock, valued at $764,749.66. The disclosure for this sale can be found here. Insiders sold a total of 32,890 shares of company stock valued at $1,405,502 in the last three months. Insiders own 0.11% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Intersect Capital LLC bought a new position in shares of Newmont in the 1st quarter worth about $229,000. M Holdings Securities Inc. bought a new stake in Newmont in the 1st quarter valued at about $681,000. Quadrant Capital Group LLC increased its position in Newmont by 13.4% in the 1st quarter. Quadrant Capital Group LLC now owns 4,540 shares of the basic materials company’s stock valued at $361,000 after buying an additional 536 shares in the last quarter. Allstate Corp increased its position in Newmont by 1.4% in the 1st quarter. Allstate Corp now owns 51,236 shares of the basic materials company’s stock valued at $4,071,000 after buying an additional 722 shares in the last quarter. Finally, State Street Corp increased its position in Newmont by 0.7% in the 1st quarter. State Street Corp now owns 40,619,717 shares of the basic materials company’s stock valued at $3,227,237,000 after buying an additional 270,396 shares in the last quarter. 81.11% of the stock is owned by institutional investors.
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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.
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