Newmont (NYSE:NEM) Trading 3.6% Higher – Time to Buy?

Newmont Corporation (NYSE:NEM) traded up 3.6% during mid-day trading on Monday . The company traded as high as $113.72 and last traded at $112.8940. 8,320,556 shares were traded during trading, a decline of 3% from the average session volume of 8,565,304 shares. The stock had previously closed at $108.99.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NEM shares. Royal Bank Of Canada upped their target price on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. Bank of America upped their price objective on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, TD Securities boosted their target price on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $97.08.

Newmont Price Performance

The company has a market capitalization of $123.20 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 0.80 and a beta of 0.41. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average price of $94.97 and a 200 day moving average price of $81.26.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 earnings per share. As a group, equities research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is 15.53%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Newmont

A number of institutional investors have recently made changes to their positions in the stock. GoalVest Advisory LLC bought a new position in Newmont during the fourth quarter worth about $25,000. Physician Wealth Advisors Inc. raised its position in shares of Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 236 shares during the period. Concord Wealth Partners boosted its stake in Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares during the last quarter. JPL Wealth Management LLC acquired a new position in Newmont during the third quarter valued at approximately $27,000. Finally, Evermay Wealth Management LLC increased its stake in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.