Newmont (NYSE:NEM) Rating Lowered to Hold at National Bank Financial

Key Points

• National Bank Financial downgraded Newmont from a "strong‑buy" to a "hold" in a research note issued Thursday.
• Despite the downgrade, the analyst consensus remains positive — MarketBeat lists an average rating of "Moderate Buy" with a consensus price target of $133.38 (2 Strong Buy, 15 Buy, 5 Hold).
• Newmont reported strong quarterly results, beating estimates with EPS of $2.52 versus $1.81 and revenue of $6.82B versus $6.18B (revenue +20.6% YoY); the stock was trading around $116.50 with a market cap near $125.8B.

Newmont (NYSE:NEM - Get Free Report) was downgraded by analysts at National Bank Financial from a "strong-buy" rating to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. The Goldman Sachs Group lifted their price objective on Newmont from $122.30 to $123.20 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Jefferies Financial Group lifted their price objective on Newmont from $162.00 to $165.00 and gave the stock a "buy" rating in a research note on Friday, April 10th. DZ Bank raised Newmont to a "strong-buy" rating in a research note on Monday, January 19th. Stifel Nicolaus lifted their price objective on Newmont from $120.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, February 10th. Finally, Macquarie Infrastructure lifted their price objective on Newmont from $126.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $133.38.

Newmont Stock Up 2.7%

Shares of Newmont stock opened at $116.50 on Thursday. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. Newmont has a 12 month low of $48.27 and a 12 month high of $134.88. The business has a fifty day simple moving average of $115.51 and a 200 day simple moving average of $103.72. The stock has a market cap of $125.81 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 0.87 and a beta of 0.46.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The business had revenue of $6.82 billion during the quarter, compared to analysts' expectations of $6.18 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. The firm's quarterly revenue was up 20.6% compared to the same quarter last year. Research analysts predict that Newmont will post 3.45 EPS for the current year.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total value of $339,270.00. Following the completion of the transaction, the executive vice president directly owned 52,315 shares of the company's stock, valued at approximately $5,916,303.35. The trade was a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David James Fry sold 18,394 shares of the business's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the transaction, the insider directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 24,394 shares of company stock valued at $2,713,281. Insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Newmont by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company's stock valued at $13,390,613,000 after acquiring an additional 637,996 shares during the period. State Street Corp grew its stake in Newmont by 1.0% in the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company's stock valued at $4,988,491,000 after acquiring an additional 480,223 shares during the period. Van ECK Associates Corp grew its stake in Newmont by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock valued at $2,973,539,000 after acquiring an additional 5,643,496 shares during the period. Geode Capital Management LLC boosted its position in shares of Newmont by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company's stock worth $2,738,756,000 after buying an additional 946,824 shares during the period. Finally, Norges Bank acquired a new position in shares of Newmont during the fourth quarter worth about $1,443,128,000. 68.85% of the stock is owned by institutional investors and hedge funds.

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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