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

Key Points

• Newmont Corporation has received a consensus recommendation of "Moderate Buy" from twenty-one research firms, with the average twelve-month price target at $83.18.
• Insiders have recently sold a total of 16,249 shares of Newmont stock, representing over $1.1 million in value, indicating some profit-taking among the company's management.
• Newmont's latest quarterly earnings report showed an EPS of $1.43, surpassing expectations and reflecting a 20.8% increase in year-over-year revenue.

Newmont Corporation (NYSE:NEM - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-one research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, ten have issued a buy recommendation and four have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $83.1769.

Several equities research analysts have recently weighed in on NEM shares. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. TD Securities upped their price objective on Newmont from $67.00 to $89.00 and gave the company a "hold" rating in a research note on Wednesday, October 8th. Stifel Nicolaus started coverage on Newmont in a research note on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price objective on the stock. Royal Bank Of Canada upgraded Newmont from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. Finally, BNP Paribas Exane upped their price objective on Newmont from $66.00 to $92.00 and gave the company an "outperform" rating in a research note on Monday, September 15th.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the sale, the director directly owned 36,869 shares in the company, valued at $3,133,496.31. This represents a 5.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock worth $1,132,065 in the last three months. Insiders own 0.05% of the company's stock.

Institutional Investors Weigh In On Newmont

Large investors have recently bought and sold shares of the business. Concord Wealth Partners grew its position in Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company's stock worth $27,000 after acquiring an additional 385 shares during the last quarter. Evermay Wealth Management LLC lifted its holdings in Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company's stock worth $29,000 after buying an additional 400 shares in the last quarter. Capital A Wealth Management LLC lifted its holdings in Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company's stock worth $30,000 after buying an additional 478 shares in the last quarter. Caldwell Trust Co acquired a new position in Newmont during the 2nd quarter worth $31,000. Finally, CoreFirst Bank & Trust acquired a new position in Newmont during the 2nd quarter worth $32,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Up 5.0%

Shares of NEM opened at $89.36 on Tuesday. Newmont has a 12-month low of $36.86 and a 12-month high of $89.42. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $98.16 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 0.94 and a beta of 0.34. The stock's 50-day moving average price is $77.25 and its 200 day moving average price is $62.93.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The company's quarterly revenue was up 20.8% compared to the same quarter last year. As a group, research analysts predict that Newmont will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, September 4th. Newmont's dividend payout ratio is currently 17.95%.

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.

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