Newmont (NYSE:NEM) Sets New 1-Year High - Time to Buy?

Newmont Corporation (NYSE:NEM - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $60.28 and last traded at $59.82, with a volume of 2941636 shares trading hands. The stock had previously closed at $58.23.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NEM shares. TD Securities cut their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. Argus set a $63.00 target price 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 report on Friday, March 21st. Finally, Royal Bank Of Canada lifted their target price on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.68.

Newmont Trading Up 2.0%

The business's 50-day moving average is $54.07 and its two-hundred day moving average is $47.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The firm has a market cap of $65.89 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.76 and a beta of 0.31.

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

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is 22.42%.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $112,344.93. Following the completion of the transaction, the director now owns 45,180 shares in the company, valued at approximately $2,443,786.20. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 77,526 shares of the company's stock, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock worth $381,539 in the last 90 days. Corporate insiders own 0.05% of the company's stock.

Hedge Funds Weigh In On Newmont

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its stake 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 during the last quarter. Teacher Retirement System of Texas raised its holdings in Newmont by 773.7% in the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company's stock valued at $2,511,000 after acquiring an additional 59,740 shares during the period. Callan Family Office LLC acquired a new stake in Newmont during the fourth quarter worth approximately $481,000. Freestone Grove Partners LP bought a new stake in shares of Newmont during the fourth quarter worth approximately $316,000. Finally, Sciencast Management LP boosted its holdings in shares of Newmont by 4.6% during the fourth quarter. Sciencast Management LP now owns 54,859 shares of the basic materials company's stock worth $2,042,000 after acquiring an additional 2,404 shares during the period. 68.85% of the stock is owned by institutional investors.

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.