Newmont Co. (NYSE:NEM) Receives Consensus Rating of "Moderate Buy" from Analysts

Newmont Co. (NYSE:NEM - Get Free Report) has received an average recommendation of "Moderate Buy" from the nineteen ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and three have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $56.52.

NEM has been the subject of a number of analyst reports. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. National Bankshares restated a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. Argus set a $63.00 price objective on shares of Newmont in a research report on Friday, April 25th. National Bank Financial raised shares of Newmont to a "hold" rating in a research note on Friday, March 21st. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th.

Newmont Stock Performance

NEM opened at $50.09 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company's fifty day moving average price is $50.33 and its two-hundred day moving average price is $44.98. Newmont has a 1-year low of $36.86 and a 1-year high of $58.72. The company has a market cap of $55.75 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same quarter in the prior year, the company posted $0.55 earnings per share. On average, analysts expect that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio is currently 22.42%.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction 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 completion of the sale, the director now owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. The trade was a 4.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares of the company's stock, valued at $3,782,051.46. The trade was a 3.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,154 shares of company stock worth $328,840. Corporate insiders own 0.05% of the company's stock.

Institutional Trading of Newmont

Hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp increased its stake in Newmont by 1.6% in the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after purchasing an additional 797,445 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Newmont by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock valued at $919,484,000 after acquiring an additional 1,213,397 shares during the period. Norges Bank acquired a new stake in Newmont in the fourth quarter valued at $626,074,000. Bank of New York Mellon Corp grew its holdings in shares of Newmont by 8.9% in the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after acquiring an additional 1,306,783 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Newmont by 1.5% in the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after acquiring an additional 191,940 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Company Profile

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.

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