Newmont's (NEM) Neutral Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group reissued their neutral rating on shares of Newmont (NYSE:NEM - Free Report) in a research report released on Tuesday morning, Marketbeat.com reports. The Goldman Sachs Group currently has a $60.90 target price on the basic materials company's stock.

Other research analysts have also issued reports about the stock. National Bank Financial raised shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Royal Bank Of Canada raised their price objective on shares of 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 shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. Finally, Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and an average price target of $61.45.

Newmont Stock Up 0.6%

Shares of NEM traded up $0.34 during trading hours on Tuesday, reaching $60.12. 9,103,957 shares of the stock traded hands, compared to its average volume of 10,640,782. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $55.34 and a 200 day simple moving average of $48.91. Newmont has a 52 week low of $36.86 and a 52 week high of $60.42. The company has a market cap of $66.91 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.68 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly 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. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the firm earned $0.55 earnings per share. On average, equities analysts forecast that Newmont will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the sale, the director owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president directly owned 74,526 shares in the company, valued at $4,378,402.50. This trade represents a 3.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock worth $679,813 in the last ninety days. 0.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Newmont

Institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. increased its holdings in shares of Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock worth $569,000 after buying an additional 1,379 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Newmont by 9.9% in 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. Envestnet Portfolio Solutions Inc. bought a new position in shares of Newmont in the 1st quarter worth $423,000. Spire Wealth Management increased its holdings in shares of Newmont by 125.0% in the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after buying an additional 1,309 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of 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 worth $2,511,000 after buying an additional 59,740 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

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.