Newmont (NYSE:NEM) Trading Down 0.4% – Time to Sell?

Newmont Co. (NYSE:NEM)’s share price was down 0.4% during mid-day trading on Monday . The stock traded as low as $53.10 and last traded at $53.74. Approximately 2,870,933 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 9,833,392 shares. The stock had previously closed at $53.94.

Analyst Ratings Changes

NEM has been the subject of several research analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Newmont in a research note on Thursday. Scotiabank reissued a “sector perform” rating on shares of Newmont in a research report on Monday, April 14th. Raymond James upped their price target on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, April 4th. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. Finally, TD Securities cut their target price on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.40.

Newmont Price Performance

The stock has a market cap of $60.78 billion, a P/E ratio of 18.40, a PEG ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The business’s fifty day moving average price is $47.89 and its 200 day moving average price is $45.07.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the company posted $0.55 EPS. Sell-side analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. Newmont’s dividend payout ratio is 22.42%.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the sale, the executive vice president now directly owns 79,596 shares in the company, valued at $3,413,872.44. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $89,082.53. Following the transaction, the director now directly owns 49,993 shares of the company’s stock, valued at $2,144,199.77. The trade was a 3.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock worth $825,678 over the last ninety days. Insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Newmont

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after acquiring an additional 797,445 shares during the last quarter. Geode Capital Management LLC grew its stake in Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock valued at $919,484,000 after acquiring an additional 1,213,397 shares during the period. Norges Bank acquired a new position in Newmont in the 4th quarter valued at $626,074,000. Northern Trust Corp boosted its position in shares of Newmont by 11.5% during the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock valued at $474,263,000 after acquiring an additional 1,309,177 shares during the last quarter. Finally, Amundi raised its holdings in Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after buying an additional 1,507,708 shares during the period. 68.85% of the stock is currently owned by institutional investors.

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.