Newmont (NYSE:NEM) Receives "Neutral" Rating from 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.

A number of other research analysts also recently issued reports on the stock. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. UBS Group boosted their target price on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. 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 research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.41.

Newmont Stock Performance

NYSE NEM traded up $1.03 during trading hours on Tuesday, reaching $59.78. 8,194,035 shares of the company were exchanged, compared to its average volume of 10,640,960. Newmont has a 1 year low of $36.86 and a 1 year high of $60.31. The business's 50 day simple moving average is $55.01 and its 200-day simple moving average is $48.61. 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 has a market capitalization of $66.53 billion, a P/E ratio of 13.40, a P/E/G ratio of 0.65 and a beta of 0.33.

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

Newmont Announces Dividend

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

Insider Buying and Selling at Newmont

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

Institutional Trading of Newmont

Hedge funds have recently made changes to their positions in the stock. SOA Wealth Advisors LLC. lifted its holdings in Newmont by 64.0% in 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 period. Cloud Capital Management LLC acquired a new stake in Newmont during the 1st quarter worth about $26,000. Colonial Trust Advisors grew its stake in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 429 shares in the last quarter. Private Trust Co. NA grew its stake in Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 347 shares in the last quarter. Finally, Nexus Investment Management ULC bought a new position in Newmont during the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 68.85% of the company's stock.

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.