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

Newmont Corporation (NYSE:NEM - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $61.53 and last traded at $61.34, with a volume of 3089261 shares trading hands. The stock had previously closed at $59.86.

Analyst Ratings Changes

NEM has been the topic of several recent research reports. Cfra Research upgraded Newmont to a "strong-buy" rating in a report on Friday, April 25th. The Goldman Sachs Group reissued a "neutral" rating and set a $60.90 price objective on shares of Newmont in a research report on Tuesday, July 8th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Finally, Royal Bank Of Canada boosted their target price on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average target price of $62.49.

Newmont Trading Up 0.2%

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 $68.52 billion, a PE ratio of 13.80, a PEG ratio of 0.90 and a beta of 0.33. The business's 50-day moving average is $56.74 and its two-hundred day moving average is $50.28.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 15.75% and a net margin of 25.77%. Newmont's revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. On average, analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on 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 owned 43,103 shares in the company, valued at $2,532,301.25. This represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,231 shares of company stock worth $679,813. 0.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SOA Wealth Advisors LLC. grew its holdings in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares during the last quarter. Cloud Capital Management LLC purchased a new position in shares of Newmont in the 1st quarter valued at approximately $26,000. Colonial Trust Advisors grew its stake in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 429 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 347 shares during the period. Finally, Nexus Investment Management ULC purchased a new stake in shares of Newmont during the first quarter worth approximately $31,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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.