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 report issued on Tuesday, Marketbeat Ratings reports. The Goldman Sachs Group currently has a $60.90 target price on the basic materials company's stock.

Other analysts have also issued research reports about the company. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Raymond James Financial restated an "outperform" rating and issued a $66.00 target price on shares of Newmont in a report on Friday, April 25th. UBS Group increased their target price on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Cfra Research upgraded Newmont to a "strong-buy" rating in a report on Friday, April 25th. Finally, Royal Bank Of Canada increased their price objective on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Newmont has a consensus rating of "Moderate Buy" and a consensus target price of $61.45.

Newmont Price Performance

NYSE NEM traded up $0.12 on Tuesday, reaching $59.90. 3,537,299 shares of the stock traded hands, compared to its average volume of 10,622,525. The firm's fifty day simple moving average is $55.17 and its 200 day simple moving average is $48.76. 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 company has a market cap of $66.67 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 0.67 and a beta of 0.33. Newmont has a 12 month low of $36.86 and a 12 month high of $60.42.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping 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 return on equity of 15.75% and a net margin of 25.77%. During the same period last year, the company posted $0.55 EPS. As a group, research analysts predict that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced 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 yield of 1.67%. The ex-dividend date 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 firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president directly owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,231 shares of company stock worth $679,813 over the last three months. Company insiders own 0.05% of the company's stock.

Institutional Investors Weigh In On Newmont

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. grew its position in shares of Newmont by 13.2% in the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after purchasing an additional 1,379 shares during the last quarter. First Trust Advisors LP grew its position in shares of Newmont by 9.9% in the fourth quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock valued at $3,575,000 after purchasing an additional 8,678 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Newmont in the first quarter valued at about $423,000. Spire Wealth Management grew its position in shares of Newmont by 125.0% in the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock valued at $114,000 after purchasing an additional 1,309 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in shares of Newmont by 773.7% in the fourth quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company's stock valued at $2,511,000 after purchasing an additional 59,740 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

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.