Analysts Set Newmont Corporation (NYSE:NEM) PT at $140.98

Newmont Corporation (NYSE:NEM) has been given an average rating of “Moderate Buy” by the twenty-four analysts that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $140.50.

Several equities analysts have issued reports on NEM shares. Canaccord Genuity Group lifted their target price on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings lowered Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Scotiabank cut their target price on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. Barclays started coverage on Newmont in a research note on Thursday, May 21st. They issued an “overweight” rating and a $133.00 target price on the stock. Finally, TD Securities reiterated a “hold” rating and issued a $129.00 target price on shares of Newmont in a research note on Monday, April 27th.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the transaction, the executive vice president owned 46,315 shares in the company, valued at $4,877,895.80. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares in the company, valued at $2,550,477.93. This trade represents a 9.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 28,556 shares of company stock worth $3,120,276 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Newmont

A number of large investors have recently modified their holdings of the business. CWM LLC boosted its position in Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after purchasing an additional 79,617 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Newmont by 24.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after purchasing an additional 54,530 shares in the last quarter. AustralianSuper Pty Ltd boosted its position in Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Leonteq Securities AG purchased a new stake in Newmont in the 4th quarter worth approximately $9,018,000. Finally, Waverton Investment Management Ltd lifted its position in shares of Newmont by 3.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock valued at $59,365,000 after buying an additional 23,139 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NEM stock opened at $95.26 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The business has a 50-day moving average price of $108.28 and a 200 day moving average price of $110.89. The company has a market capitalization of $101.69 billion, a P/E ratio of 12.36, a PEG ratio of 1.56 and a beta of 0.42. Newmont has a 1-year low of $55.37 and a 1-year high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, equities research analysts forecast that Newmont will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s payout ratio is 13.49%.

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.