Newmont Co. (NYSE:NEM) Given Average Recommendation of “Moderate Buy” by Analysts

Newmont Co. (NYSE:NEM) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $53.85.

A number of equities analysts have weighed in on NEM shares. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Finally, Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $59.00 to $55.00 in a research report on Friday, October 25th.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Newmont

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Newmont by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after buying an additional 16,190,422 shares during the last quarter. Maj Invest Holding A S raised its position in shares of Newmont by 296.0% during the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock valued at $143,502,000 after buying an additional 2,561,823 shares during the period. Capital International Investors purchased a new stake in Newmont in the first quarter valued at approximately $49,444,000. Van ECK Associates Corp raised its position in Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after purchasing an additional 1,289,084 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Newmont by 262.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after acquiring an additional 1,096,905 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Up 1.1 %

Shares of NEM stock opened at $45.76 on Tuesday. Newmont has a 12 month low of $29.42 and a 12 month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a 50 day simple moving average of $52.78 and a two-hundred day simple moving average of $47.27.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, analysts expect that Newmont will post 3.12 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

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.