Newmont Corporation (NYSE:NEM) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Newmont Corporation (NYSE:NEM - Get Free Report) have been given an average rating of "Moderate Buy" by the seventeen ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $59.11.

A number of analysts recently commented on the company. Royal Bank Of Canada lifted their price target on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Cfra Research upgraded Newmont to a "strong-buy" rating in a report on Friday, April 25th. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Argus set a $63.00 price target on Newmont in a report on Friday, April 25th.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, June 2nd. The stock was 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 directly owned 77,526 shares in the company, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the sale, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On Newmont

Several large investors have recently added to or reduced their stakes in NEM. SOA Wealth Advisors LLC. lifted its stake in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares during the last quarter. Cloud Capital Management LLC bought a new stake in Newmont during the first quarter worth about $26,000. Colonial Trust Advisors lifted its stake in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after purchasing an additional 429 shares during the last quarter. Private Trust Co. NA lifted its stake in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares during the last quarter. Finally, Nexus Investment Management ULC bought a new stake in Newmont during the first quarter worth about $31,000. Institutional investors own 68.85% of the company's stock.

Newmont Stock Down 0.3%

NEM stock opened at $59.86 on Friday. Newmont has a twelve month low of $36.86 and a twelve month high of $60.31. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25. The stock's 50 day moving average is $54.67 and its 200-day moving average is $48.25. The firm has a market capitalization of $66.62 billion, a PE ratio of 13.42, a P/E/G ratio of 0.79 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter last year, the company earned $0.55 earnings per share. Sell-side analysts expect that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 22.42%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.