Newmont Corporation (NYSE:NEM) Given Consensus Rating of “Moderate Buy” by Brokerages

Newmont Corporation (NYSE:NEM) has earned an average rating of “Moderate Buy” from the twenty-four analysts that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $141.5286.

Several brokerages have issued reports on NEM. Weiss Ratings cut Newmont from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Macquarie Infrastructure upped their price target on Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Barclays began coverage on Newmont in a research note on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price target on the stock. Jefferies Financial Group decreased their price target on Newmont from $165.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Finally, Citigroup upped their price target on Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd.

Newmont Stock Down 0.2%

Shares of NEM opened at $109.60 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont has a one year low of $51.80 and a one year high of $134.88. The stock has a market capitalization of $117.01 billion, a price-to-earnings ratio of 14.22 and a beta of 0.42. The stock has a 50 day moving average price of $110.89 and a 200 day moving average price of $109.10.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. Equities research analysts forecast that Newmont will post 9.72 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio is 13.49%.

Insiders Place Their Bets

In other news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. Also, insider David James Fry sold 18,394 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the transaction, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 43,068 shares of company stock worth $4,769,475. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

A number of institutional investors and hedge funds have recently bought and sold shares of NEM. Summit Financial Wealth Advisors LLC increased its stake in Newmont by 3.6% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 7,034 shares of the basic materials company’s stock worth $761,000 after buying an additional 246 shares during the period. Axiom Investment Management LLC purchased a new position in Newmont in the 1st quarter valued at approximately $45,000. Summitry LLC acquired a new position in shares of Newmont in the first quarter worth $300,000. Groupe la Francaise grew its stake in shares of Newmont by 51.9% in the first quarter. Groupe la Francaise now owns 448,860 shares of the basic materials company’s stock worth $48,448,000 after acquiring an additional 153,360 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its position in shares of Newmont by 90.4% during the first quarter. Arete Wealth Advisors LLC now owns 44,950 shares of the basic materials company’s stock worth $4,853,000 after acquiring an additional 21,338 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Company Profile

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.