Newmont Co. (NYSE:NEM) Receives $57.68 Consensus Target Price from Brokerages

Newmont Co. (NYSE:NEM - Get Free Report) has earned a consensus rating of "Moderate Buy" from the nineteen ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, eight have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $57.68.

A number of equities analysts have recently commented on NEM shares. Raymond James restated an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $50.00 to $60.00 in a report on Friday, April 11th. Argus set a $63.00 target price on Newmont in a research note on Friday, April 25th. Finally, Scotiabank restated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th.

Newmont Trading Up 2.9%

Shares of NEM stock traded up $1.55 during trading hours on Wednesday, hitting $54.86. 3,745,797 shares of the company were exchanged, compared to its average volume of 10,239,516. The firm has a fifty day moving average of $52.51 and a 200 day moving average of $46.18. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont has a 1 year low of $36.86 and a 1 year high of $58.72. The firm has a market cap of $61.06 billion, a PE ratio of 18.72, a PEG ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results 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 net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm posted $0.55 earnings per share. Analysts expect that Newmont will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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 dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.82%. Newmont's dividend payout ratio (DPR) is 22.42%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the transaction, the executive vice president now owns 77,526 shares in the company, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the sale, the director now directly owns 47,257 shares in the company, valued at approximately $2,432,790.36. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock valued at $381,539 over the last quarter. Insiders own 0.05% of the company's stock.

Institutional Trading of Newmont

Large investors have recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC bought a new position in shares of Newmont in the fourth quarter worth $1,624,000. Bfsg LLC grew its position in Newmont by 47.7% in the 4th quarter. Bfsg LLC now owns 178,566 shares of the basic materials company's stock valued at $6,646,000 after buying an additional 57,690 shares in the last quarter. Principal Securities Inc. grew its position in Newmont by 196.9% in the 4th quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company's stock valued at $214,000 after buying an additional 3,813 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in Newmont by 53.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 13,918 shares of the basic materials company's stock valued at $518,000 after buying an additional 4,852 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Newmont by 9.9% during the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock worth $3,575,000 after buying an additional 8,678 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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.