Newmont Corporation (NYSE:NEM) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts give Newmont an average rating of "Moderate Buy" from 23 brokerages (17 buys, 5 holds, 1 strong buy) with a mean 12‑month target of about $142.51.
• Newmont beat expectations last quarter, reporting $2.90 EPS versus $2.07 expected and $7.31B revenue vs. $6.83B, with a 33.9% net margin and 27.8% ROE; analysts forecast ~9.47 EPS for the fiscal year.
• Insiders sold 24,394 shares (~$2.71M) in the last quarter (insiders own 0.06%), institutional investors own 68.85% of the stock, and the company declared a quarterly dividend of $0.26 ($1.04 annual, ~1.0% yield) payable June 22 (ex‑dividend May 27).

Shares of Newmont Corporation (NYSE:NEM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty-three brokerages that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $142.5050.

A number of research firms recently issued reports on NEM. Stifel Nicolaus raised their price objective on shares of Newmont from $120.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. DZ Bank raised shares of Newmont to a "strong-buy" rating in a report on Monday, January 19th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Saturday, April 25th. Argus boosted their price target on shares of Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Finally, Zacks Research cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 3rd.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the sale, the executive vice president owned 52,315 shares in the company, valued at $5,916,303.35. The trade was a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David James Fry sold 18,394 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the sale, the insider owned 17,147 shares of the company's stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,394 shares of company stock worth $2,713,281 in the last quarter. Insiders own 0.06% of the company's stock.

Institutional Trading of Newmont

A number of large investors have recently made changes to their positions in NEM. Estate Counselors LLC purchased a new position in Newmont in the third quarter valued at about $4,182,000. CWM LLC grew its stake in Newmont by 64.6% in the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company's stock valued at $20,259,000 after purchasing an additional 79,617 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in Newmont by 124.8% in the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company's stock valued at $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Newmont by 24.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company's stock valued at $30,775,000 after purchasing an additional 54,530 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its stake in Newmont by 286.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company's stock valued at $5,101,000 after purchasing an additional 44,846 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

NEM stock opened at $108.58 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. Newmont has a one year low of $48.27 and a one year high of $134.88. The stock has a market cap of $115.91 billion, a PE ratio of 14.08, a P/E/G ratio of 2.03 and a beta of 0.46. The firm has a 50 day simple moving average of $113.57 and a two-hundred day simple moving average of $105.35.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the business posted $1.25 EPS. The firm's revenue was up 45.8% compared to the same quarter last year. On average, analysts predict that Newmont will post 9.47 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Newmont's dividend payout ratio (DPR) is presently 13.49%.

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.

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